There are many reasons to write a business plan—it’s not solely the domain of entrepreneurs who want to secure funding to start or grow their business.
To define your values, think about all the people your company is accountable to, including owners, employees, suppliers, customers, and investors.
Now consider how you’d like to conduct business with each of them.
Here’s what your business plan’s executive summary should include: This section of your business plan should answer two fundamental questions: Who are you, and what do you plan to do?
Answering these questions provides an introduction to why you’re in business, why you’re different, what you have going for you, and why you’re a good investment bet.
Enroll for free Few things are more intimidating than a blank page.
Starting your business plan with a structured outline and key details about what you’ll include in each section is the best first step you can take.
A good executive summary is one of the most crucial sections of your plan—it’s also the last section you should write.
The executive summary’s purpose is to distill everything that follows and give time-crunched reviewers (e.g., potential investors) a high-level overview of your business that persuades them to read further.
Again, it’s a summary, so highlight the key points you’ve uncovered while writing your plan.
If you’re writing for your own planning purposes, you can skip the summary altogether—although you might want to give it a try anyways, just for practice. Admittedly, that space constraint can make squeezing in all of the salient information a bit stressful—but it’s not impossible.