Write your

Executive Summary

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Introduction

In this lesson, you will learn how to write the executive summary for a business plan. Many people prefer to be their own boss rather than work for someone else, and to do this, they must create their own business. Business plans help focus thoughts, find investors, attract employees, and create a roadmap for future success. Learning how to craft the executive summary will greatly benefit you if you decide to go into business for yourself.

WHAT IS A BUSINESS PLAN?

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A business plan is a written document that outlines a company's core business activities, objectives, and strategies for achieving its goals.

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WHAT'S A BUSINESS PLAN?

What are the key elements of a business plan?

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The first and most important part of the business plan is the executive summary. The executive summary should include:

• A Mission statement: brief summary of the business and its objectives.
• Company information: introduces the people who started the company
• Growth projections: outlines the earning potential of the business.
• Products or services: describes what products and services are offered
• Financial information: outlines the assets for the company, including any current investors.

-Natalie Tarpinian

-General Manager/SVP Sales, Media Division at StackCommerce

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What part of the executive summary is this?

What's your evidence?

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What part of the executive summary is this?

What's your evidence?

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HOW DO OTHERS DESIGN THEIR BUSINESS PLANS?

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With a partner, review one of the four business plans from the article to the right. Start with the Executive Summary, and answer the following questions before discussing your answers with the rest of the class:

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1. Which business did you review? Culina, LiveShopBuy, OrcaSmart, or Plum?

2. What parts of the executive summary can you identify?

3. Which parts of the executive summary are missing from this business plan?

4. What additional elements have been included in this business plan?

5. Which part of this plan has been done well?

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4 Business Plan Examples

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HOW DO I CREATE THE EXECUTIVE SUMMARY FOR A BUSINESS PLAN?

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Form a group of 5 and create an executive summary for a fictional business plan. You can work on it together or assign different parts to different members of your group. Before you create the summary, establish the following:

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1. What’s the name of your company?

2. What will your company do? Will it sell a product or provide a service?

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Mission Statement Criteria

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• State your company’s purpose/objectives.
• Must be one complete sentence.

Company Information Criteria

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• List everyone in your group.
• Indicate at least one skill that each person from your group has that would benefit your company.

Growth Projections Criteria

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• Indicate what resources your company needs to start.
• Indicate how much profit you intend to make.

Product/Service Criteria

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• If selling certain products, then describe the products.
• If providing a service, describe the service.

Financial Information Criteria

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• How much money do you need to start your business?
• Where will you receive the money from?

WHAT HAVE YOU LEARNED ABOUT CREATING AN EXECUTIVE SUMMARY FOR A BUSINESS PLAN?

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