Executive Summary (1 - 3)
Remember the bracketed (numbers) following each heading are merely suggestions for page lengths.
The Executive Summary, which should include a short introduction, is done last.
The Executive summary is arguably the most important part of your Business Plan and should be written last, just prior to the Table of Contents. It is the most important section of your business plan because people will read it first and it may be the only section they read. The keys to a good Executive Summary are that it should be short (2-3 pages at most), it should highlight what is important in your plan, and it should get the reader excited about your business. You want to grab the reader's attention by summarizing the highlights of your plan.
On the first page of the Executive summary you will briefly cover:
1. Your Business Description
- if this is a new business venture,
- expansion of an existing practice or the
- the purchase of an existing practice?
2. Ownership and Management
- the legal structure of your business,
- sole proprietorship,
- partnership [enclose agreement in Appendices] or
- incorporated company[enclose shareholder agreement in Appendices]
- date the business was registered/incorporated;
- the business name and address;
- the business phone number;
- the principal(s) name(s) and telephone number(s);
- the percentage of business or number of shares held by each (in partnership or corporation);
- the Web site address and relevant e-mail addresses.
3. The Industry Sector: (manufacturing, wholesale, retail, food
processing, health professions, service, high technology, etc.)
- Who are involved in the venture and what are their credentials and experience.
- How much money has the founder(s) invested in the business to date?
- How has this money been spent?
- Do you intend to draw a salary from the businesses in the beginning? If not, how will you support yourself? If so, how much?
Next month we will talk about the Introduction and Table of Contents to wrap up this series on writing a basic business plan.
Best Regards,
Neva
P.S. This is Part 13 in the Practice Excellence series. To review earlier articles start here.
"Excellence is never an accident: it is the result of high intention, sincere effort, intelligent direction, skillful execution and the vision to see obstacles as opportunities."
- Author Unknown
Neva Quantz has served in upper management in two corporations and has co-established and directed four counseling centers. She currently is the Business Manager for Norm's private practice and Cofounder and Vice President of I.M.A.G.E. Inc.