Remember back when we first started the Business Plan? After the cover page and index, the next section was the Executive Summary. At the time, I said don’t worry about the Executive Summary – that section goes in last.
Well, here we are! The rest of our Business Plan is complete and we need to condense all that information into one or two pages. The Executive Summary may be the only section read by potential investors and must generate immediate interest. It should contain highlights of the product, marketing, operations and financial plans. It must answer the question “What makes your product different?”
In my Executive Summary, I wrote about my business experience and how that would apply to my new business. I detailed my target market along with my marketing campaign. I listed my operations priorities for the first year, along with a multi-year financial projection. All this in one neat page. I am not seeking outside financing; if you are, your summary may be a bit longer as you will need to discuss your credit worthiness.
There you have it – the basic bones for a working Business Plan. Click on the “Starting a Business” category or the “Business Plan” tag in any of the posts to bring up all the Business Plan posts. Go through them at your own pace and put together your own Business Plan – it’s the only way to start a business! Feel free to email me with questions – or better yet, find a local Small Business Advisor who will walk you through the whole thing.
Next: The Business Plan and the $2,000 Grant Application