If you’ve been completing your business plan as you go through the course, you should now have at least a draft of the main components—your Management and Organization Plan, Product/Service Plan, Marketing Plan, and Financial Plan.
The final section of your plan that you should write is your Executive Summary. Although it’s the last piece that you’ll write, it is the first piece of the plan that your reader will encounter. It sets the stage for the plan as a whole.
Here you’ll summarize the key points you want your audience to tune into. You’ll describe your business, its market and customers, your company goals, and how you will meet them.
Depending on which audience you are presenting your plan to, you can tailor this section to showcase what you want them to know.
What business is your venture in, and what is the current stage of development? Current stage of development may be startup, initial operation, expansion, rapid growth, or stable operation.
Briefly describe your business model. What is unique about the product/service, and what proprietary rights does the business have?
Management and Organization Plan
What form of organization does the business operate under, and why?
Who are the key management team members, and what skills do they have to help the business?
Who are the key support groups for your management team, including accountants, attorneys, consultants, board of directors, and advisory board members?
What is the market like in terms of the industry, the customer, customer needs, product benefits, the venture’s target markets, and the market penetration plan?
Who are the major competitors, and what are their strengths and weaknesses?
What are your market penetration plans? Include specific facts and figures from your market research