An executive summary for your business means to write a short description describing what your business is about. Executive summaries are an integral part of any business plan. It is the bridge between a business person and an outsider. After a business has been started, outsiders or investors have no idea about what it is and how the business will be beneficial for them. This is where an executive summary comes in handy. Many companies, viewers, customers, banks etc. like to have an idea about the business before being involved with it. Therefore to portray the true essence of any business you must have a polished executive summary.
There is no specific way to write such types of description but a proper summary must include a few things. It must be short and must have enough information about the business, the aims, and goals of the owner and how the customers will be benefitted with the business. With all these factors keeping in mind, below we give you an example of how to write a proper executive summary for your respective business.
How to get started on your executive summary:
The way that you are going to write the summary should be kept in mind. The language of the summary should be 100% appropriate for the target audience. Once you have figured out a way to do that, you can start writing about your business. First, you have to have a proper idea about what you want to put on your business summary. You must have a clear thought about your business and your future plans regarding it.
Customers and clients will not be attracted to a business that is not well planned so it is of utmost importance to have proper plans for your work. If necessary, write down all the points that you’d like others to know about your business on a piece of paper and start from there. You should also gain proper knowledge about your business’s statistics, your employers and employees.
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Highlight the points that you think will engross the mass people. Do not overcomplicate your summary. Like many things in the business world, simplicity is the key regarding this as well. Therefore, be sure to make your executive summary short, properly organized and informative. If need be, write the executive summary at the very last after finishing writing every other necessary document about your business.
You can also seek help from your partners or employees regarding the information needed in the summary. Once you have finished, be sure to check for any gross mistakes.
You can start writing an executive summary for your business plan by adding the following points-
The name of your business
Be sure to have an attractive name or title for your business that will catch people’s eye. Your business name should fit the purpose of the business and also be something unique or edgy. It has to be the focal point of your executive summary.
Introducing the owners of the business
People tend to want to know about the owners of the business that they want to be involved with. So, it is necessary to add some introductory lines about the owners and how the business came to be. But stay away from including unnecessary information about yourself or your partners as it will not serve the purpose of the summary and will also bore the readers.
Describing what the business is about
This is the tricky part. It is never easy to describe a business or a business plan to complete strangers, especially when your business module is unique. To make this task easier, you must first learn all that there is to know about your business. Pick out the points that you think will engage others and write about them, however, you must keep it short.
Describe how your business will be beneficial for the person or company by highlighting the strong areas of your work. Let the audience know about your work ethics and your future plans regarding your work or business.
Write about size or scale
For a startup business, this is not very important. But if you have your business going on for a while and have an adequate amount of sales, profit etcetera, you can include such formation in the summary. You can also let them know about your sale goals for next month and year for them to feel more involved with the work that you are doing.
Let the people know about your stability and longevity
No one will be ready to invest or be a part of a business that is unstable. So, you must have a solid foundation for your business and let outsiders know about your business’s stability and longevity. You must convince them that their investment or time will be safe if they decide to spend it on your business.
Provide a justified reason to be a part of your business
After you have written about your business plan, you must convince the reader why they should put their trust in your business. Provide justified reasons as to why they should choose your business in the first place. Use strong and bold language in this part to convince the reader about your competitiveness and sincerity regarding your business.
Have a conclusion
Finally, tie everything together in a short conclusion paragraph. This should include your final thoughts and should express your gratitude to the reader for spending their valuable time into reading about your business. If there are omitted business details, you can add them up in this part easily.
All in all, it can be said that an executive summary has the power to make or break a business. This document is very much necessary to let potential investors, customers, buyers, and partners know about your business plan. If not done properly, you may lose the benefit of gaining more customers or investors for your business. So it is of utmost importance to write the executive summary in a proper manner.