You can skip the executive summary (or greatly reduce it in scope) if you are writing an internal business plan that’s purely a strategic guide for your company.
In that case, you can dispense with details about the management team, funding requirements, and traction, and instead treat the executive summary as an overview of the strategic direction of the company, to ensure that all team members are on the same page.
The last key element of an executive summary that investors will want to see is the progress that you’ve made so far and future milestones that you intend to hit.
If you can show that your potential customers are already interested in—or perhaps already buying—your product or service, this is great to highlight.
You’re most likely targeting a specific market segment such as “style-conscious men” or “runners.” This will make it much easier for you to target your marketing and sales efforts and attract the kinds of customers that are most likely to buy from you.
If you are writing a business plan to get a bank loan or because you’re asking angel investors or venture capitalists for funding, you must include the details of what you need in the executive summary.Because your executive summary is such a critical component of your business plan, you’ll want to make sure that it’s as clear and concise as possible.Cover the key highlights of your business, but don’t into too much detail.to easily compare their features against their competition.The most important thing to illustrate in this section of your business plan is how your solution is different or better than other offerings that a potential customer might consider.Writing a business plan may seem like a big hurdle, but it doesn’t have to be. For that reason alone, writing a business plan and then leveraging your plan for growth won’t be nearly as challenging as you think.The rest of this article will delve into the specifics of what you should include in your business plan, what you should skip, the critical financial projections, and links to additional resources that can help jump-start your plan.Ideally, your executive summary will be one to two pages at most, designed to be a quick read that sparks interest and makes your investors feel eager to hear more.If you’re a shoe company, you aren’t targeting “everyone” just because everyone has feet.Often times, you may be dealing with “indirect competition,” which is when consumers solve their problem with an entirely different kind of solution.For example, when Henry Ford was first marketing his cars, there was very little direct competition from other car manufacturers—there weren’t any other cars.