Steps in Writing an Executive Summary
The essence of an executive summary based on the overall marketing and business plan is often neglected. Business owners and managers do not see it as something that is necessary for running the business. But the truth is, once settled with a good and feasible executive summary, that will serve as an anchor in carrying out all the goals and objectives that the company or business had set at the beginning.
Primarily, an excellent executive summary invites more investors for it is what catches their interest and curiosity. Once you get to show them an excellent executive summary, half of the negotiation or closing of the deal of investment is already done. Potential investors will analyze and decide whether they will give it a go or not, based on your executive summary. Thus, it is indeed an essential aspect of the business.
In this article, I will be providing you bits of information which you have to take note of in crafting your executive summary.
This includes the analysis of the size of the market which the company wants to cater as well as the different aspect of it such as trend, price, location, and the likes. By identifying these aspects, you can get to craft your plan based on it in such a way that the business will grow in that given situation and position.
2.Level of Competition
What are the different threats present nearby the area? Will there be any competitor which you have to be worried about? By answering these, you can prepare a lot in terms of the level of competition as well as the strategies that you are going to implement to win the competition.
3.Goals and Objectives of the Products and Marketing Plan
What are your products and what are they capable of? Does this answer or respond to the needs of the current market? What improvements do you see for it in the future? Is it still open for updates and upgrade? This will help you look closely into the efficiency and effectivity of the products or services that you will try to serve the market. What is the goal of the Marketing Plan
4.List of Major Strategies
What major strategic moves or plans do you have in mind? How will you present these products or services to the public? How can you make your business stand out among the rest of all the other competitors? In the world of business, you cannot remain stagnant and complacent of the possible threats. You have to think of a unique yet effective strategy to implement.
5.Plan and Implementation Phase
Who is the working committee? What are their respective roles? What are the concrete steps which you will take in implementing the plans that you have? A detailed and clear plan and implementation phase can show the potential investors what you are capable of doing in that specific field of business.
Crucial Consideration in Writing
1.Know your audience
Know your audience or your potential investors. Get to know them not just on the superficial level but more of the personal one. Identify their views and craft your executive summary based on their core beliefs and values.
2. Clear Goals
Systematic, measurable, attainable, result oriented and time-bound, these characteristics should be present in whatever goals and objectives that you are going to include. You have to be clear and precise about these goals throughout.
Review your executive summary over and over again! Remember that this document does not have any room for mistake or flaws. Make it as perfect as possible because you only get one chance for this task. If the potential investor says no, then it will be impossible to re-appeal. So, give a good review of the executive summary.
4. A clear and concise summary
The executive summary, in general, should be short, clear and concise. It does not have to be very lengthy! For as long as it contains all the crucial parts and it is interesting and catchy enough for the potential investors, then you are good to go.
Planning and writing an executive summary is indeed essential. That is why in writing one, you have to be cautious and careful in everything that you include into it. After all, I know that you are willing to do everything to make the business grow and prosper. Good luck!