Business plans: the executive summary

By Lynne Franks

Lynne Franks explains how to write a winning executive summary for your business plan.

The first descriptive page or two of your business plan should be the very easy to understand 'executive summary' of your enterprise.

The summary should include the big picture of your enterprise idea and why it will work. Current market trends and how your enterprise fits into them should be included.

Some business books advise you to put your financial requirements, should you need a loan, into the summary, alongside when and how you'll pay it back. However, I think it's best to explain the creative concept first and leave the financial details to last.

By now, you should be able to verbally describe your dream enterprise to the significant people in your life. Before you put pen to paper, why not practice explaining the concept of your business, who it's aimed at, and why it will work, initially to your friends and family?

Verbally explain the plans for your SEED enterprise as clearly and succinctly as you can, observing if your audience easily understands what you're saying. Ask them to give you feedback on your idea and presentation, and without being too sensitive, take their comments on board. Then adapt your written summary accordingly.

You may find it easier to write your executive summary after you've written the various other items that make up the business plan document, summarising a little from each. Personally, I like putting down the big picture first, because that inspires me. Then, after I've written the rest, I check to make sure that I haven't left anything out of my initial summary.

Business plan part 4