Executive summaries are critical in any business plan and should be the last thing you write. You cannot create a summary before finishing the entire business plan. You would need to know the scope of your business and all of the objectives in order to provide any information on how your company will turn out 3 or 5 years down the line.
Executive summary is an overview of your business. It summarizes all the key information about your business in a few pages. It’s a high-level look at your whole business plan and it summarizes the other sections of your plan.
A good executive summary addresses the mission of your company, discusses all key points, uses a compelling style of writing and is free of clichés. It should follow the structure set out in your business plan.
What to Include in Your Executive Summary?
The name and location of your business.
Your business concept. What does your business do?
Your business goals and vision. What does your business want to do?
Your products or services. The problems they solve, the needs they meet. Why are they different? What sets your business apart from your competitors?
Your target customers? Who do you sell to? Why will they choose you?
Your go to market strategy.
A summary of your basic financials such as revenue and profits; sales and profits projections for the next 3 or 5 years.
A summary of your Business’s current stage.
Funding ask and the use of funds.
Your management team? How will they contribute to the Business?