Your business plan is an integral document for your company. It outlines how you will operate, your value proposition, and how you intend to grow over time. You’ll also need it when approaching potential stakeholders or funders to showcase the worth of your business.
Due to the importance of the business plan, it is essential to create it well. You want to highlight the potential of your venture and ideas effectively, so you need to craft an equally compelling document. This means ensuring each section is fully optimised to present the information someone might want to know about your business in a way that drives them to invest in you.
By having a foolproof, expertly written business plan, you will increase the likelihood that you secure buy-in from investors, helping you gain funding and make your ambitions a reality.
The first part of the business plan is the executive summary. This is the very first thing an investor will read, so it needs to immediately engage them and convince them to carry on reading.
In this guide, we explain what to include in your executive summary and how to set the rest of your plan up for success.
What to include in the executive summary
The executive summary is a short section, providing a high-level overview of your business. As such, you do not need to include lots of detail, but you need to make sure what you do counts. Think of it as the elevator pitch: you want to keep it brief but still giving an accurate representation of your venture and compel the other person to find out more.
The first step to creating the summary is to describe your idea in a nutshell. This includes your business name, what you will sell, who your target buyer is and what gaps in the market you are seeking to address. The emphasis needs to be on your value proposition – how you will offer value to customers in ways that other companies don’t already, and how this will enable you to generate demand.
This section should also reflect what else is to come in the document. So, you will want to include information regarding your company structure, operating strategies, financials, market position and objectives. You will cover each of these in more detail in their respective sections, so you only need to provide oversight in this initial part. Anything you discuss needs to be relevant to the key points you want someone to know about your enterprise at this early stage.
It may also be worth including timeframes in this section, such as launch or other key milestones. This can set expectations and create a timeline for the rest of the plan.
If you are an established business, you should include information on any achievements you have made to date, such as awards, sales figures or milestones met. You may also include financial statements to give a sense of how you have operated to date. Again, remember this needs to be high-level, so focus on the most pertinent things about your business.
Our top tips for writing
Although the executive summary is one of the shorter parts of your business plan, this can make it harder to decide what to include. It’s also the first impression someone will gain of your business, which increases the pressure to get it right. We’ve put together some tips to help you write it effectively.
Remember it’s a summary
You should know your business like the back of your hand. With so much knowledge, it can be hard not to write countless paragraphs. Remember that the executive summary is exactly that – a summary. It should be no longer than two pages at the maximum.
Focus on the critical points about your venture that explain who you are and what you do. If you find yourself getting carried away, remember that there are several sections you will still need to write in your document and save the detail for then.
Refine it for your audience
When writing a business plan, you may already have a set audience in mind, particularly if you have an investor meeting approaching. During the writing process, you need to keep this audience in mind and consider their perspective.
Ask what they want to know about your business from the off, then incorporate it into your executive summary. By doing this, you can create an opening that engages, so they continue reading.
It’s worth revisiting your business plan ahead of every meeting or application you need it for, each time focusing on the specific audience you are pitching to. This will allow you to optimise it for every opportunity, rather than employing a one-size-fits-all approach.
Be positive
Nobody should believe in your business more than you. If you don’t believe in it, why should a third-party investor? You need to have a positive and confident attitude about your enterprise – and this should be apparent in your writing style.
Speak about the value of your venture as if it’s fact. Don’t be afraid of coming across as too sure of yourself, as your belief in your business should help to persuade others of its worth too. If you’re scared of making bold claims, remember that the rest of the business plan is where you need to back it up with data. So, as long as you have the evidence, your confidence should be well-founded.
Focus on quality
Your entire business plan should be high-quality. In the executive summary, it is even more essential to focus on quality to set the standard for the rest of the document. This means creating an engaging piece of writing and checking for typos, grammar, spelling and other errors that could undermine your professionalism.
Don’t rush the process as this is when mistakes can happen. You may need to re-read, edit and refine your section multiple times to get the perfect version. It’s worth reading aloud as this can help you detect parts that don’t sound right or flow well. It can also be a good idea to get someone else to proofread your work, as fresh eyes can often detect errors you miss.
By spending time on the section and sharing it with others, you can ensure it is accurate, well-written and engaging, which will set you off on sound footing for the rest of the document.
Write it last
Many people often struggle to write the opening to a piece of work. As the executive summary introduces and links all the other sections of the business plan, it makes sense to write it last when you know better what the rest of the document will include.
Writing the summary last can also be helpful as, during the writing process, you will likely learn more about your business and refine what information you are providing to investors. With this fresh on your mind, it makes it easier to provide an effective and accurate overview.
Even if you don’t write the summary last, it’s still advisable to revisit it at the end of the process to make sure it accurately reflects the rest of the content and matches the tone of the business plan.
Get business plan advice
Creating a compelling executive summary is the first step to a bulletproof business plan. By providing a favourable introduction to your enterprise, you can ensure investors carry on reading and capture their attention.
If you need support writing your business plan, we can help. Our consultancy services aim to get you ready for investment with the tools you need to secure funding. This includes a bulletproof, optimised business plan.
We can also put you in touch with contacts who can take your financial journey further.