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How to Write an Executive Summary (+ Examples)

• March 21, 2024
• Business Plan , How to Write

The executive summary is the cornerstone of any business plan, serving as a gateway for readers to understand the essence of your proposal.

It summarizes the plan’s key points into a digestible format, making it crucial for capturing the interest of investors, partners, and stakeholders.

In this comprehensive guide, we’ll explore what the executive summary is, why we use it, and also how you can create one for your business plan. Let’s dive in!

What is an Executive Summary?

An executive summary is a concise and compelling overview of a business plan (or simply a report), designed to provide readers, such as investors, partners, or upper management, with a quick and clear understanding of the document’s most critical aspects.

For a business plan, it summarizes the key points including the business overview , market analysis , strategy plan timeline and financial projections.

Typically, the executive summary is the first section of a business plan, but it should be written last to ensure it accurately reflects the content of the entire document.

The primary goal of an executive summary is to engage the reader’s interest and encourage them to read the full document.

It should be succinct, typically no more than one to two pages, and articulate enough to stand on its own, presenting the essence of the business proposal or report without requiring the reader to go through the entire document for basic understanding.

Why Do We Use It?

The executive summary plays a crucial role in whether a business plan opens doors to funding, partnerships, or other opportunities . It’s often the first (and sometimes the only) part of the plan that stakeholders read, making it essential for making a strong, positive first impression. As such, we use it in order to:

• Capture Attention: Given the volume of business plans investors, partners, and lenders might receive, an executive summary’s primary function is to grab the reader’s attention quickly. It highlights the most compelling aspects of the business to encourage further reading.
• Save Time: It provides a succinct overview of the business plan, allowing readers to understand the key points without going through the entire document. This is particularly beneficial for busy stakeholders who need to make informed decisions efficiently.
• Facilitate Understanding: An executive summary distills complex business concepts and strategies into a concise format. Therefore, it makes it easier for readers to grasp the business’s core mission, strategic direction, and potential for success.
• Driving Action: By summarizing the financial projections and funding requirements, an executive summary can effectively communicate the investment opportunity. Indeed the investment opportunity, whether to raise money from investors or a loan from a bank, is the most common reason why we prepare business plans.
• Setting the Tone: The executive summary sets the tone for the entire business plan. A well-written summary indicates a well-thought-out business plan, reflecting the professionalism and competence of the management team.

How to Write an Executive Summary in 4 Simple Steps

Here’s a streamlined approach to crafting an impactful executive summary:

1. Start with Your Business Overview

• Company Name: Begin with the name of your business.
• Location: Provide the location of your business operations.
• Business model: Briefly describe how you make money, the producfs and/or services your business offers.

2. Highlight the Market Opportunity

• Target Market : Identify your target market and its size.
• Market Trends : Highlight the key market trends that justify the need for your product or service.
• Competitive Landscape : Describe how your business is positioned to meet this need effectively.

3. Present Your Management Team

• Team Overview: Introduce the key members of your management team and their roles.
• Experience: Highlight relevant experience and skills that contribute to the business’s success.

4. Include Financial Projections

• Financial Summary: Provide a snapshot of key financial projections, including revenue, profits, and cash flow over the next three to five years.
• Funding Requirements: If seeking investment, specify the amount needed and how it will be used.

2 Executive Summary Examples

Here are 2 examples you can use as an inspiration to create yours. These are taken from our coffee shop and hair salon business plan templates.

Coffee Shop Executive Summary

Hair Salon Executive Summary

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How to Write a Management Summary for Your Business Plan

Entrepreneurs are often celebrated for their uncanny ability to understand others – their customers, the market, and the ever-evolving global landscape. However, sometimes the most crucial insight an entrepreneur can have is introspection.  Recognizing one's strengths, experiences, and unique perspectives can be the cornerstone of a venture's success.

While every section of a business plan offers insights into the venture, it's the management summary that shines a spotlight on the people behind the idea. It's where you convey not just the qualifications of your team, but the passion, drive, and unique attributes that make you the ideal candidates to lead the venture to success. Whether you're a seasoned coder diving into a tech startup, a barista with dreams of opening a coffee shop, or an adaptable entrepreneur ready to fill a market gap, your management summary is the stage to showcase why you and your team are poised for success. 

Personal & Professional Experience

The entrepreneurial world is rife with tales of young prodigies launching startups from their dorm rooms and garages. However, a deeper dive into the data presents a different narrative. A Harvard Business Review article revealed that the average age of a successful startup founder is 45. This finding challenges the prevailing notion and brings to the forefront the invaluable role of experience and maturity in entrepreneurship.

An entrepreneur with years behind them might possess insights into customer pain points, industry gaps, and effective strategies that a younger counterpart might overlook. 

An entrepreneur's personal journey, filled with its unique challenges and triumphs, can be a guiding light in shaping the business strategy. For instance, someone who has witnessed the evolution of technology over decades might have a clearer vision of tech trends and their longevity. It's essential for entrepreneurs to recognize these strengths, embrace them, and weave them into their business blueprint.

The management summary is more than just a resume or a CV. It's a narrative that tells the story of why you and your team are the right fit for this venture. When detailing personal expertise, it's crucial to be authentic. Instead of just listing qualifications, weave a narrative that showcases your journey, the lessons learned, and why these experiences make you uniquely suited to lead the venture to success.

The Entrepreneurial Mindset

Entrepreneurship is more than just starting a business; it's a mindset, a way of viewing the world . While expertise in a particular domain can provide a solid foundation, it's the entrepreneurial spirit that often drives success. This spirit is characterized by curiosity, a hunger for innovation, and an unyielding belief in one's vision.

Entrepreneurs have the unique ability to look beyond the present, to anticipate market needs, and to design solutions for tomorrow. This forward-thinking approach, combined with a keen sense of the market pulse, allows them to stay ahead of the curve, innovate, and lead.

What truly sets successful entrepreneurs apart is their approach to risk . They're not reckless; they're calculated. They weigh the pros and cons, take informed leaps, and most crucially, possess the resilience to weather the storms. It's this combination of risk-taking and resilience that often turns challenges into stepping stones.

When writing the management summary, it's essential to paint a holistic picture. Beyond qualifications and expertise, highlight the entrepreneurial traits that set the team apart. Whether it's the business owner's adaptability, the team's collective vision, or their track record of resilience, ensure that the summary captures the essence of the entrepreneurial spirit that drives the venture.

A Balanced Team

The startup ecosystem often buzzes with the idea that every new venture necessitates a co-founder. This belief stems from the notion that two heads are better than one, especially when navigating the tumultuous waters of entrepreneurship. However, a Harvard Business Review article challenges this widely accepted notion. The research suggests that solo founders, when bolstered by the support of "co-creators," can achieve remarkable success. Co-creators, be they employees, alliances, or benefactors, play pivotal roles in the business's growth without the formalities of equity or control typically associated with co-founders. This paradigm shift underscores the importance of recognizing and leveraging support, irrespective of its label.

Every entrepreneur brings a unique set of skills to the table. However, self-awareness is key. Recognizing areas where one might lack expertise or insight is the first step towards building a comprehensive team. For instance, if you're an entrepreneur passionate about creating a coffee shop that offers an unparalleled customer experience, you might excel in ambiance design and customer relations. But what about the financial intricacies or marketing strategies? This is where complementary skills come into play. By identifying these gaps, you can seek out team members, partners, or co-creators who can fill them, ensuring a holistic approach to your business venture.

A successful venture is often backed by a team that brings diverse skills, experiences, and perspectives to the table. The point is to create a well-rounded team that can navigate challenges, innovate, and drive the business towards its goals. When writing a business plan's management summary, it's essential to showcase the collective strengths, the diverse skill sets, and the unique experiences that make your team the perfect ensemble to lead the venture to success.

Organizational Structure

An organizational structure serves as the backbone, providing a clear roadmap of roles, responsibilities, and the flow of information. As highlighted in this Investopedia article , structures can vary from the traditional hierarchical models to more fluid and decentralized ones. The choice of structure is influenced by various factors, including the company's goals, industry dynamics, and inherent culture. Selecting the right structure is crucial as it sets the tone for communication, decision-making, and overall operational efficiency.

The management summary should outline not just where the company stands today but where it aims to be tomorrow. This includes potential market expansions, scaling strategies, and the evolution of the team to support this growth. By detailing these growth trajectories, stakeholders get a clear picture of the company's ambition and the organizational plan to achieve it.

Including a visual representation or your organizational structure, usually in the form of an organizational chart, in your business plan can offer clarity that words might not capture. This chart delineates roles, showcases the hierarchy, and provides a clear view of reporting lines. It ensures that every team member, from top to bottom, understands their position within the larger framework and their contribution to the company's success.

The management summary provides an opportunity to touch upon the heart and soul of the company: its culture. Detailing the company's values, ethos, and the best practices that nurture this culture is vital. This includes recruitment strategies that seek the right talent fit, training programs that foster growth, and HR initiatives that prioritize employee well-being. After all, a company that takes care of its people is one that thrives.

Special Considerations Based on the Audience

Every stakeholder has a unique lens through which they view a business plan. Whether it's a potential investor scrutinizing the viability of your venture or a bank assessing the risk associated with a loan, the management summary must be tailored to address the specific concerns and interests of its audience.

Business Plans for Bank and SBA-Backed Loans

When seeking loans backed by the Small Business Administration (SBA) , it's not just about presenting a promising business idea. The SBA places significant emphasis on the entrepreneur's industry knowledge and management expertise. In your management summary, delve deep into this experience. Highlight past industry successes, showcase relevant qualifications, and emphasize the team's capability to navigate the industry's intricacies. By doing so, you're demonstrating a profound understanding of the industry and the venture's potential place within it.

Business Plans for Immigration Cases

For entrepreneurs targeting immigration, the business plan should serve as a testament to the venture's potential economic contribution to the U.S. This means detailing a robust hiring plan that emphasizes the creation of U.S. jobs. Outline the roles, set out a clear hiring timeline, and emphasize the number of jobs you aim to create. Beyond this, highlight the venture's growth trajectory, ensuring it aligns seamlessly with U.S. market needs and trends.

Business Plans for Venture Capital & Angel Investors

A common misconception in the entrepreneurial world is that investors primarily invest in ideas. Ideas, no matter how revolutionary, are subjected to the complexities of markets. Predicting market behavior in the mid- to long-term is challenging. Furthermore, for a startup to succeed, it not only has to predict the market but also disrupt it, which is a tall order. As the market evolves, so does the idea, undergoing iterations before maturing into a sustainable business.

The journey from a startup's inception to its IPO typically spans a decade. During this time, countless variables can change - from technological advancements to societal shifts. Investors recognize this dynamic nature and understand that while the idea is the seed, it's the team's adaptability and resilience that will nurture it to fruition.

Good investors prioritize the people behind the venture. It's about the ability to reshape and refine the idea based on market feedback. Don't underestimate the importance of the management team when pitching for investor funding.

Strategic Business Plans

A strategic business plan differs from those crafted for investors or loans. When the primary goal is strategic planning, the management summary is less about convincing external parties of the company's potential and more about fostering alignment, clarity, and commitment within the organization and its potential partners. Given their internal focus, the management summary for strategic plans should be tailored to resonate with the company's vision and demonstrate a shared commitment to the company's long-term goals.

For internal stakeholders and potential team members, the business plan should highlight how the management team collaborates, resolves conflicts, and drives the company forward. It should emphasize the team's ability to pivot when necessary and provide a clear breakdown of roles and oversight, such as that of an advisory board. This helps internal stakeholders understand who's responsible for what, fostering accountability and clarity.

The Myth of the Entrepreneur Archetype

There's a pervasive myth in entrepreneurship: the archetype of the "perfect" founder. Stories of visionaries like Elon Musk and Mark Zuckerberg, with their larger-than-life personas that are often amplified by media, paint a picture of the quintessential founder. They're portrayed as mavericks who aren't afraid to go against the grain, individuals who trust their gut instincts over data, and leaders who, with sheer willpower and charisma, can rally a team behind them. This stereotype suggests that to be successful, one must possess a specific set of traits and follow a predetermined path.

However, the entrepreneurial world is teeming with leaders who don't fit this mold. For every brash and outspoken founder, there's a thoughtful and introspective one who leads with empathy and collaboration. Leadership today is not a one-size-fits-all. It's diverse, multifaceted, and shaped by individual experiences, cultures, and values.

Moreover, different ventures require different leadership styles. Sure, a tech startup aiming to disrupt an industry might benefit from a founder with a bold vision and a penchant for taking risks. But in contrast, a social enterprise might thrive under a leader who prioritizes community engagement and sustainable growth. Recognizing and valuing these differences is crucial for the broader entrepreneurial ecosystem.

The key for aspiring entrepreneurs is to recognize and embrace their unique strengths. Instead of trying to fit into a preconceived mold, it's about understanding what you bring to the table and leveraging those strengths. Whether you're a natural networker, a meticulous planner, or someone who excels at team-building, there's a place for your leadership style in the entrepreneurial world.

As the business landscape evolves, so does the definition of leadership. Today's leaders are more attuned to the needs of their teams, prioritize mental well-being, and understand the value of diverse perspectives. They're not just visionaries; they're listeners, learners, and collaborators.

Leadership comes in many stripes, and each style has its unique value and place in the business world. The key is to pinpoint what gives you a competitive advantage. Is it your deep industry knowledge? Your ability to build and lead teams? Or perhaps your knack for identifying market gaps?

No founder is without weaknesses. But what sets successful entrepreneurs apart is their ability to recognize these shortcomings and take proactive steps to address them. Outline the areas where you might not have expertise and detail how you plan to overcome these gaps. This could be through continuous learning, seeking mentorship, or, most commonly, by building a team with complementary skill sets.

And finally, remember that the entrepreneurial journey is unpredictable. The ability to adapt and pivot is a testament to a founder's resilience and versatility. Showcase instances where you've had to change course and how you navigated these challenges, emphasizing the lessons learned and how they've shaped your approach.

In essence, the management summary is a platform to showcase your unique entrepreneurial DNA . It's about highlighting what sets you apart, demonstrating self-awareness, and detailing how you've built a team that complements your strengths and addresses your weaknesses. By doing so, you're painting a holistic picture of why you and your team are the right fit for the venture.

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5 Steps for Writing an Executive Summary

Table of Contents

Anyone starting a new business must create a business plan that clearly outlines the organization’s details and goals. The executive summary is a crucial element of that business plan.

We’ll explore five steps to writing your business plan’s executive summary, including what to include and avoid. We’ll also point you toward executive summary templates to help you get started. 

What is an executive summary?

New entrepreneurs or business owners typically use a business plan to present their great business idea to potential stakeholders like angel investors . The purpose of the business plan is to attract financing from investors or convince banking executives to get a bank loan for their business . An executive summary is a business plan overview that succinctly highlights its most essential elements. 

It’s not just a general outline; the executive summary might be the only part of your business plan that busy executives and potential investors read. 

“The executive summary of a business plan is designed to capture the reader’s attention and briefly explain your business, the problem you are solving, the target audience, and key financial information,” Ross Kimbarovsky, CEO and founder of Crowdspring, told Business News Daily. “If the executive summary lacks specific information or does not capture the attention of the reader, the rest of the plan might not be read.”

While your executive summary should be engaging and comprehensive, it must also be quick and easy to read. These documents average one to four pages – ideally, under two pages – and should comprise less than 10% of your entire business plan.

Along with an executive summary, a business plan will include your business’s legal structure , the products and services you sell, and a financial plan with sales forecasts .

How do you write an executive summary?

Your executive summary will be unique to your organization and business plan. However, most entrepreneurs and business owners take the following five steps when creating their executive summary.

• Write your business plan first. The executive summary will briefly cover the most essential topics your business plan covers. For this reason, you should write the entire business plan first, and then create your executive summary. The executive summary should only cover facts and details included in the business plan.
• Write an engaging introduction. What constitutes “engaging” depends on your audience. For example, if you’re in the tech industry, your introduction may include a surprising tech trend or brief story. The introduction must be relevant to your business and capture your audience’s attention. It is also crucial to identify your business plan’s objective and what the reader can expect to find in the document.
• Write the executive summary. Go through your business plan and identify critical points to include in your executive summary. Touch on each business plan key point concisely but comprehensively. You may mention your marketing plan , target audience, company description, management team, and more. Readers should be able to understand your business plan without reading the rest of the document. Ideally, the summary will be engaging enough to convince them to finish the document, but they should be able to understand your basic plan from your summary. (We’ll detail what to include in the executive summary in the next section.)
• Edit and organize your document. Organize your executive summary to flow with your business plan’s contents, placing the most critical components at the beginning. A bulleted list is helpful for drawing attention to your main points. Double-check the document for accuracy and clarity. Remove buzzwords, repetitive information, qualifying words, jargon, passive language and unsupported claims. Verify that your executive summary can act as a standalone document if needed.
• Seek outside assistance. Since most entrepreneurs aren’t writing experts, have a professional writer or editor look over your document to ensure it flows smoothly and covers the points you’re trying to convey.

What should you include in an executive summary?

Your executive summary is based on your business plan and should include details relevant to your reader. For example, if your business plan’s goal is pitching a business idea to potential investors , you should emphasize your financial requirements and how you will use the funding. 

The type of language you use depends on whether your audience consists of generalists or industry experts.

While executive summary specifics will vary by company, Marius Thauland, business strategist at OMD EMEA, says all executive summaries should include a few critical elements:

• Target audience
• Products and services
• Marketing and sales strategies
• Competitive analysis
• Funding and budget allocation for the processes and operations
• Number of employees to be hired and involved
• How you’ll implement the business plan 

When synthesizing each section, highlight the details most relevant to your reader. Include any facts and statistics they must know. In your introduction, present pertinent company information and clearly state the business plan’s objective. To pinpoint key messages for your executive summary, ask yourself the following questions: 

• What do you want the reader to take away from the document? 
• What do you want to happen after they read it? 

“Put yourself in the business plan reader’s shoes, and think about what you would like to know in the report,” Thauland advised. “Get their attention by making it simple and brief yet still professional. It should also attract them to read the entire document to understand even the minute details.”

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What should you avoid in an executive summary?

When writing your executive summary, be aware of the following common mistakes: 

• Making your executive summary too long. An executive summary longer than two pages will deter some readers. You’re likely dealing with busy executives, and an overlong stretch of text can overwhelm them.
• Copying and pasting from other executive summary sections. Reusing phrases from other sections and stringing them together without context can seem confusing and sloppy. It’s also off-putting to read the same exact phrase twice within the same document. Instead, summarize your business plan’s central points in new, descriptive language.
• Too many lists and subheadings in your executive summary. After one – and only one – introductory set of bullets, recap your business plan’s main points in paragraph form without subheadings. Concision and clarity are more important for an executive summary than formatting tricks.
• Passive or unclear language in your executive summary. You’re taking the reins of your business, and your executive summary should show that. Use active voice in your writing so everyone knows you’re running the show. Be as clear as possible in your language, leaving no questions about what your business will do and how it will get there.
• Avoid general descriptions in your executive summary. Kimbarovsky said it’s best to avoid generalities in your executive summary. For example, there’s no need to include a line about “your team’s passion for hard work.” This information is a given and will take attention away from your executive summary’s critical details.
• Don’t use comparisons in your executive summary. Kimbarovsky also advises staying away from comparisons to other businesses in your executive summary. “Don’t say you will be the next Facebook, Uber or Amazon,” said Kimbarovsky. “Amateurs make this comparison to try and show how valuable their company could be. Instead, focus on providing the actual facts that you believe prove you have a strong company. It’s better if the investor gives you this accolade because they see the opportunity.”

When you’re starting a new business, the first people you should hire include a product manager, chief technology officer (CTO) , chief marketing officer and chief financial officer.

Executive summary templates and resources

If you’re writing an executive summary for the first time, online templates can help you outline your document. However, your business is unique, and your executive summary should reflect that. An online template probably won’t cover every detail you’ll need in your executive summary. Experts recommend using templates as general guidelines and tailoring them to fit your business plan and executive summary.

To get you started, here are some popular executive summary template resources:

• FormSwift. The FormSwift website lets you create and edit documents and gives you access to over 500 templates. It details what an effective executive summary includes and provides a form builder to help you create your executive summary. Fill out a step-by-step questionnaire and export your finished document via PDF or Word.
• Smartsheet. The Smartsheet cloud-based platform makes planning, managing and reporting on projects easier for teams and organizations. It offers several free downloadable executive summary templates for business plans, startups, proposals, research reports and construction projects.
• Template.net. The Template.net website provides several free business templates, including nine free executive summary templates that vary by project (e.g., business plan, startup, housing program development, proposal or marketing plan). Print out the templates and fill in your relevant details.
• TemplateLab. The TemplateLab website is a one-stop shop for new business owners seeking various downloadable templates for analytics, finance, HR, marketing, operations, project management, and time management. You’ll find over 30 free executive summary templates and examples.
• Vertex42. The Vertex42 website offers Excel templates for executive summaries on budgets, invoices, project management and timesheets, as well as Word templates for legal forms, resumes and letters. This site also provides extensive information on executive summaries and a free executive summary template you can download into Word or Google Docs.

Summing it all up

Your executive summary should preview your business plan in, at most, two pages. Wait until your business plan is complete to write your executive summary, and seek outside help as necessary. A thorough, engaging business plan and executive summary are well worth the time and money you put into them. 

Max Freedman contributed to the reporting and writing in this article. Some source interviews were conducted for a previous version of this article.

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How to Write a Powerful Executive Summary [+4 Top Examples]

Published: August 31, 2023

Whether you're an entrepreneur looking for investors for your small business or the CEO of a large corporation, an executive summary can help you succeed and is a critical component for long-term growth.

A short, attention-grabbing executive summary is an essential part of your business plan . Done correctly, it will ensure your company becomes or remains a key player in your industry. In this post, you’ll learn what an executive summary is and how to write one that engages investors, customers, and general audiences.

Executive Summary

An executive summary is a brief overview of a long document, such as a business plan, proposal, or report. It's a section that grabs readers’ attention and summarizes critical information from the document, such as the problem or opportunity being addressed, objectives, key findings, goals, and recommendations.

Some documents that may have an executive summary include:

• Business plans
• Research documents
• Project proposals
• Annual reports

Ultimately, the executive summary is meant to inform readers of the most important information in the document, so they don't have to read it all and can get caught up quickly.

Free Executive Summary Template

Use this executive summary template to provide a summary of your report, business plan, or memo.

• Company & Opportunity
• Industry & Market Analysis
• Management & Operations
• Financial Plan

You're all set!

Click this link to access this resource at any time.

Executive Summary vs. Business Plan

All business plans have an executive summary, but not all executive summaries belong to business plans.

A business plan includes a company overview, your company's short-term and long-term goals, information on your product or service, sales targets, expense budgets, your marketing plan, and a list including each member of your management team. In this case, the executive summary is the first section of the business plan that convinces readers that it’s worth their time to read the whole thing.

Business plans are very detailed and comprehensive, and can be as short as a dozen pages or as long as 100 pages. However, a CEO or investor might not have the interest or time to read your full business plan without first getting the general gist of your company or goals through an executive summary.

Executive Summary vs. Mission Statement

Mission statements and executive summaries are typically both found in business plans, but they serve different purposes.

A mission statement defines your organization’s purpose, values, and vision. It’s your company’s north star and communicates your core identity and reason for existence. On the other hand, an executive summary provides a high-level overview of the document.

Ultimately, your mission statement provides direction for developing your business plan, while your executive summary describes your business plan to executives and shareholders.

Executive Summary vs. Company Description

Like mission statements and executive summaries, company descriptions can also be found in business plans as well as the “About us” page of your website . It provides an overview of your business, including essential details like company history, what your company does, unique selling points, goals, management team, and overall value proposition.

Executive Summary vs. Objective

An objective is a specific goal or target that your company takes aims to achieve its overall goal. It is a concrete, measurable outcome that guides your business’s actions and decisions. Objectives are usually set at the strategic level and are typically aligned with the company’s mission, vision, and overall strategic plan.

Company objectives are often included in executive summaries, but are not the sole focus of them.

What is the purpose of an executive summary?

Writing an executive summary may not seem that necessary. After all, you can find the same information just by reading the rest of the document.

However, the executive summary serves many purposes for your document and those who read it. Here are some of the benefits of having one:

• It saves your readers time. CEOs and investors often have limited time to review lengthy documents. An executive summary allows them to quickly grasp the main points, key findings, and recommendations without needing to read the entire document.
• It provides clarity and conciseness. By providing a condensed overview, executive summaries help to distill complex information and present it in a manner that’s easy to understand.
• It helps with document navigation. For longer documents or reports, an executive summary provides a roadmap for readers. It helps them navigate through the document by signaling the main sections or topics covered, improving overall document usability and accessibility.

To write an impressive executive summary that effectively embodies all the important elements of your business plan, we've cultivated a list of necessary components for an executive summary, as well as an example to get you started.

Follow Along With HubSpot's Executive Summary Template

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How to write an executive summary.

A good executive summary tells your company’s story, contains in-depth research, conveys information with an appropriate tone, is void of clichés, and follows your business plan’s structure. These elements will ensure your executive summary is effective, informative, and impactful.

1. Tell your story.

When investors or CEO's read your executive summary, they should understand what your business is about. This is one of the first elements of your business plan, so it should set the tone.

In your executive summary, be sure to tell your story and include an overview about what your company does and why you do what you do. You can also briefly highlight important details about your company’s management.

For instance, you could talk about your founder or CEO’s qualifications and motivations. You can also provide a high-level summary of your company’s business operations and any management methods or best practices that you abide by.

You’ll also want to explain the problem or opportunity that is being addressed, and how it is valuable to investors and customers. Think of this like an elevator pitch . If someone stopped reading and you only had the executive summary to explain your company, what information would you include?

2. Highlight important data.

An executive summary, while short, should include plenty of research.

Highlight the most important findings and insights from the document, including any critical data or statistics discovered in your competitor analysis . While your business plan will flesh out the details, it's important to include your key findings in your executive summary.

You should also provide a basic rundown of your target market, how you plan on addressing their needs and pain points, and how you will reach them.

Additionally, you should include key financial information. The main points you should cover are the overall budget, the price per product/service, and your financial projections.

3. Pay attention to your tone.

Although the tone of your executive summary should be professional and concise, it should also be true to your company and target audience. Aim to convey a sense of authority and credibility while remaining accessible and engaging.

Here are some tips to keep in mind:

• Focus on presenting information objectively with facts and evidence.
• Don’t voice your personal opinions or use subjective statements.
• Strive for clarity and simplicity in your language and ensure that your message is easily understood.
• Avoid unnecessarily complexity or convolution.
• Don’t use hyperbole or excessive claims.
• Use strong verbs, active voice, and concise language to make your points effectively.
• Aim to resonate with the reader’s interests and concerns.

By striking the right balance between professionalism, clarity, and engagement, you can effectively deliver your message and compel the reader to take action or make informed decisions based on the summary.

4. Avoid cliché language.

With any style of writing, it's best to avoid clichés. Clichés can convey the wrong message or be misunderstood, which is something you want to avoid when someone reads your executive summary.

Additionally, clichés tend to overpromise and under-deliver. For example, including something like “The Best Restaurant in Town” isn‘t true because you’re untested as a business. Your executive summary should reflect the truth and who you are as a company.

To avoid clichés while writing, it’s essential to be aware of their presence. Familiarize yourself with common clichés and be mindful of them as you write. Some examples include:

• “Thinking outside the box”
• “Innovative solutions”
• “Cutting-edge technology”

Instead of relying on these overused phrases, be descriptive and embrace the uniqueness of your brand when writing your executive summary. For instance, there’s no need to vaguely refer to your product as a “game-changer,” when you could explain how it benefits your target audience instead. Show, don’t tell.

By staying true to your voice and delivering an honest message, you can keep your writing fresh and your audience engaged.

5. Write it after completing your business plan.

An executive summary is a summary of your business plan. However, it‘s hard to write a summary when you haven’t written your business plan yet. That's why your executive summary should be the final thing you write.

By saving this step for last, you’re able to gain a thorough understanding of the entire plan, including your business’s goals, strategies, market analysis, and financial projections. This enables you to accurately depict the most important aspects in your summary.

If you write you executive summary first, you’re more likely to miscommunicate the essence of your business plan to executives and shareholders. Sure, you may have an outline prepare, but not having all the information can lead to inconsistencies or inaccuracies in your summary. You also risk including irrelevant details or omitting important details that come up during the planning process.

Ultimately, writing your executive summary last ensures that precisely represents the content and findings your plan.

If you don’t have a business plan yet, don’t worry; we have a comprehensive business plan template to help you create one quickly and effectively.

Featured Resource: Business Plan Template

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Now that you know how to write an executive summary, let's dive into the details of what to include.

What to Include in Your Executive Summary

Your business plan should convey your company‘s mission, your product, a plan for how you’ll stand out from competitors, your financial projections, your company's short and long-term goals, your buyer persona, and your market fit.

Ultimately, an executive summary should provide a preview for investors or CEO's, so they know what to expect from the rest of your report. Your executive summary should include:

• The name, location, and mission of your company
• A description of your company, including management, advisors, and brief history
• Your product or service, where your product fits in the market, and how your product differs from competitors in the industry
• Financial considerations, start-up funding requirements, or the purpose behind your business plan — mention what you hope the reader will help your company accomplish

How long should an executive summary be?

While there is no hard and fast rule for the exact length, executive summaries typically range from one to three pages. However, it's important to note that the length should be determined by the document it accompanies and the content itself rather than a predetermined page count.

At the end of the day, your executive summary should engage the reader and highlight the most important points of your document while avoiding unnecessary details.

Feeling at a loss? Download a free template below that will take you through the executive summary creation process.

Executive Summary Template

Download Your Free Executive Summary Template Here

In this free executive summary template, you’ll be able to outline several pieces of information, including:

• Introduction: Explain what your executive summary contains.
• Company & Opportunity: Explain who you are and your biggest opportunities for growth.
• Industry & Market Analysis: Explain the state of your industry and your target market.
• Management & Operations: Explain who your key leaders are and their roles.
• Implementation & Marketing: Explain how you plan to deploy your product to the marketplace.
• Financial Plan: Explain your company’s finances. Change the verbiage depending on whether you’re writing to investors or a general audience.
• Conclusion: Summarize what you’ve covered.

Ready? Download your free executive summary template .

To understand more tactically how an executive summary should look, let’s review a few examples.

Executive Summary Examples

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How to Write an Executive Summary (Example & Template Included)

Here’s the good news: an executive summary is short. It’s part of a larger document like a business plan, business case or project proposal and, as the name implies, summarizes the longer report.

Here’s the bad news: it’s a critical document that can be challenging to write because an executive summary serves several important purposes. On one hand, executive summaries are used to outline each section of your business plan, an investment proposal or project proposal. On the other hand, they’re used to introduce your business or project to investors and other stakeholders, so they must be persuasive to spark their interest.

Writing an Executive Summary

The pressure of writing an executive summary comes from the fact that everyone will pay attention to it, as it sits at the top of that heap of documents. It explains all that follows and can make or break your business plan or project plan . The executive summary must know the needs of the potential clients or investors and zero in on them like a laser. Fortunately, we’ll show you how to write and format your executive summary to do just that.

Getting everything organized for your executive summary can be challenging. ProjectManager can help you get your thoughts in order and collaborate with your team. Our powerful task management tools make it easy to get everything prioritized and done on time. Try it free today.

What Is an Executive Summary?

An executive summary is a short section of a larger document like a business plan , investment proposal or project proposal. It’s mostly used to give investors and stakeholders a quick overview of important information about a business plan like the company description, market analysis and financial information.

It contains a short statement that addresses the problem or proposal detailed in the attached documents and features background information, a concise analysis and a conclusion. An executive summary is designed to help executives and investors decide whether to go forth with the proposal, making it critically important. Pitch decks are often used along with executive summaries to talk about the benefits and main selling points of a business plan or project.

Unlike an abstract, which is a short overview, an executive summary format is a condensed form of the documents contained in the proposal. Abstracts are more commonly used in academic and research-oriented writing and act as a teaser for the reader to see if they want to read on.

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Executive Summary Template

Use this free Executive Summary Template for Word to manage your projects better.

How to Write an Executive Summary

Executive summaries vary depending on the document they’re attached to. You can write an executive summary for a business plan, project proposal, research document, or business case, among other documents and reports.

However, when writing an executive summary, there are guidelines to ensure you hit all the bases.

Executive Summary Length

According to the many books that have been written about executive summaries, as well as training courses, seminars and professional speakers, the agreed-upon length for an executive summary format should be about five to 10 percent of the length of the whole report.

Appropriate Language

The language used should be appropriate for the target audience. One of the most important things to know before you write professionally is to understand who you’re addressing. If you’re writing for a group of engineers, the language you’ll use will differ greatly from how you would write to a group of financiers.

That includes more than just the words, but the content and depth of explanation. Remember, it’s a summary, and people will be reading it to quickly and easily pull out the main points.

Pithy Introduction

You also want to capture a reader’s attention immediately in the opening paragraph. Just like a speech often opens with a joke to break the tension and put people at ease, a strong introductory paragraph can pull a reader in and make them want to read on. That doesn’t mean you start with a joke. Stick to your strengths, but remember, most readers only give you a few sentences to win them over before they move on.

Don’t forget to explain who you are as an organization and why you have the skills, personnel and experience to solve the problem raised in the proposal. This doesn’t have to be a lengthy biography, often just your name, address and contact information will do, though you’ll also want to highlight your strengths as they pertain to the business plan or project proposal .

Relevant Information

The executive summary shouldn’t stray from the material that follows it. It’s a summary, not a place to bring up new ideas. To do so would be confusing and would jeopardize your whole proposal.

Establish the need or the problem, and convince the target audience that it must be solved. Once that’s set up, it’s important to recommend the solution and show what the value is. Be clear and firm in your recommendation.

Justify your cause. Be sure to note the key reasons why your organization is the perfect fit for the solution you’re proposing. This is the point where you differentiate yourself from competitors, be that due to methodology, testimonials from satisfied clients or whatever else you offer that’s unique. But don’t make this too much about you. Be sure to keep the name of the potential client at the forefront.

Don’t neglect a strong conclusion, where you can wrap things up and once more highlight the main points.

Related: 10 Essential Excel Report Templates

What to Include in an Executive Summary

The content of your executive summary must reflect what’s in the larger document which it is part of. You’ll find many executive summary examples on the web, but to keep things simple, we’ll focus on business plans and project proposals.

How to Write an Executive Summary for a Business Plan

As we’ve learned above, your executive summary must extract the main points of all the sections of your business plan. A business plan is a document that describes all the aspects of a business, such as its business model, products or services, objectives and marketing plan , among other things. They’re commonly used by startups to pitch their ideas to investors.

Here are the most commonly used business plan sections:

• Company description: Provide a brief background of your company, such as when it was established, its mission, vision and core values.
• Products & services: Describe the products or services your company will provide to its customers.
• Organization and management: Explain the legal structure of your business and the members of the top management team.
• SWOT analysis: A SWOT analysis explains the strengths, weaknesses, opportunities and threats of your business. They describe the internal and external factors that impact your business competitiveness.
• Industry & market analysis: This section should provide an overview of the industry and market in which your business will compete.
• Operations: Explain the main aspects of your business operations and what sets it apart from competitors.
• Marketing plan: Your marketing plan describes the various strategies that your business will use to reach its customers and sell products or services.
• Financial planning: Here, you should provide an overview of the financial state of your business. Include income statements, balance sheets and cash flow statements.
• Funding request: If you’re creating your business plan to request funding, make sure to explain what type of funding you need, the timeframe for your funding request and an explanation of how the funds will be used.

We’ve created an executive summary example to help you better understand how this document works when using it, to sum up a business plan.

To put all of that information together, here’s the basic format of an executive summary. You can find this same information in our free executive summary template :

• Introduction, be sure to know your audience
• Table of contents in the form of a bulleted list
• Explain the company’s role and identify strengths
• Explain the need, or the problem, and its importance
• Recommend a solution and explain its value
• Justify said solution by explaining how it fits the organization
• A strong conclusion that once more wraps up the importance of the project

You can use it as an executive summary example and add or remove some of its elements to adjust it to your needs. Our sample executive summary has the main elements that you’ll need project executive summary.

Executive Summary Example

For this executive summary example, we’ll imagine a company named ABC Clothing, a small business that manufactures eco-friendly clothing products and it’s preparing a business plan to secure funding from new investors.

Company Description We are ABC Clothing, an environmentally-friendly manufacturer of apparel. We’ve developed a unique method of production and sourcing of materials that allows us to create eco-friendly products at a low cost . We have intellectual property for our production processes and materials, which gives us an advantage in the market.

• Mission: Our mission is to use recycled materials and sustainable methods of production to create clothing products that are great for our customers and our planet.
• Vision: Becoming a leader in the apparel industry while generating a positive impact on the environment.

Products & Services We offer high-quality clothing products for men, women and all genders. (Here you should include pictures of your product portfolio to spark the interest of your readers)

Industry & Market Analysis Even though the fashion industry’s year-over-year growth has been affected by pandemics in recent years, the global apparel market is expected to continue growing at a steady pace. In addition, the market share of sustainable apparel has grown year-over-year at a higher pace than the overall fashion industry.

Marketing Plan Our marketing plan relies on the use of digital marketing strategies and online sales, which gives us a competitive advantage over traditional retailers that focus their marketing efforts on brick-and-mortar stores.

Operations Our production plant is able to recycle different types of plastic and cotton waste to turn it into materials that we use to manufacture our products . We’ve partnered with a transportation company that sorts and distributes our products inside the United States efficiently and cost-effectively.

Financial Planning Our business is profitable, as documented in our balance sheet, income statement and cash flow statement. The company doesn’t have any significant debt that might compromise its continuity. These and other financial factors make it a healthy investment.

Funding Request We’re requesting funding for the expansion of our production capacity, which will allow us to increase our production output in order to meet our increasing customer demand, enter new markets, reduce our costs and improve our competitiveness.

If you’d like to see more executive summary examples for your business plan, you can visit the U.S. small business administration website. They have business plans with executive summary examples you can download and use.

Executive summaries are also a great way to outline the elements of a project plan for a project proposal. Let’s learn what those elements are.

How to Write an Executive Summary for a Project Proposal

An executive summary for your project proposal will capture the most important information from your project management plan. Here’s the structure of our executive summary template:

• Introduction: What’s the purpose of your project?
• Company description: Show why you’re the right team to take on the project.
• Need/problem: What is the problem that it’s solving?
• Unique solution: What is your value proposition and what are the main selling points of your project?
• Proof: Evidence, research and feasibility studies that support how your company can solve the issue.
• Resources: Outline the resources needed for the project
• Return on investment/funding request: Explain the profitability of your project and what’s in for the investors.
• Competition/market analysis: What’s your target market? Who are your competitors? How does your company differentiate from them?
• Marketing plan: Create a marketing plan that describes your company’s marketing strategies, sales and partnership plans.
• Budget/financial planning: What’s the budget that you need for your project plan?
• Timeline: What’s the estimated timeline to complete the project?
• Team: Who are the project team members and why are they qualified?
• Conclusions:  What are the project takeaways?

Now that we’ve learned that executive summaries can vary depending on the type of document you’re working on, you’re ready for the next step.

What to Do After Writing an Executive Summary

As with anything you write, you should always start with a draft. The first draft should hit all the marks addressed above but don’t bog yourself down in making the prose perfect. Think of the first draft as an exploratory mission. You’re gathering all the pertinent information.

Next, you want to thoroughly review the document to ensure that nothing important has been left out or missed. Make sure the focus is sharp and clear, and that it speaks directly to your potential client’s needs.

Proofread for Style & Grammar

But don’t neglect the writing. Be sure that you’re not repeating words, falling into cliché or other hallmarks of bad writing. You don’t want to bore the reader to the point that they miss the reason why you’re the organization that can help them succeed.

You’ve checked the content and the prose, but don’t forget the style. You want to write in a way that’s natural and not overly formal, but one that speaks in the manner of your target audience . If they’re a conservative firm, well then, maybe formality is called for. But more and more modern companies have a casual corporate culture, and formal writing could mistakenly cause them to think of you as old and outdated.

The last run should be proofing the copy. That means double-checking to ensure that spelling is correct, and there are no typos or grammatical mistakes. Whoever wrote the executive summary isn’t the best person to edit it, however. They can easily gloss over errors because of their familiarity with the work. Find someone who excels at copy-editing. If you deliver sloppy content, it shows a lack of professionalism that’ll surely color how a reader thinks of your company.

Criticism of Executive Summaries

While we’re advocating for the proper use of an executive summary, it’d be neglectful to avoid mentioning some critiques. The most common is that an executive summary by design is too simple to capture the complexity of a large and complicated project.

It’s true that many executives might only read the summary, and in so doing, miss the nuance of the proposal. That’s a risk. But if the executive summary follows the guidelines stated above, it should give a full picture of the proposal and create interest for the reader to delve deeper into the documents to get the details.

Remember, executive summaries can be written poorly or well. They can fail to focus on results or the solution to the proposal’s problem or do so in a vague, general way that has no impact on the reader. You can do a hundred things wrong, but if you follow the rules, then the onus falls on the reader.

ProjectManager Turns an Executive Summary Into a Project

Your executive summary got the project approved. Now the real work begins. ProjectManager is award-winning project management software that helps you organize tasks, projects and teams. We have everything you need to manage each phase of your project, so you can complete your work on time and under budget.

Work How You Want

Because project managers and teams work differently, our software is flexible. We have multiple project views, such as the kanban board, which visualizes workflow. Managers like the transparency it provides in the production cycle, while teams get to focus only on those tasks they have the capacity to complete. Are you more comfortable with tasks lists or Gantt charts? We have those, too.

Live Tracking for Better Management

To ensure your project meets time and cost expectations, we have features that monitor and track progress so you can control any deviations that might occur. Our software is cloud-based, so the data you see on our dashboard is always up to date, helping you make better decisions. Make that executive summary a reality with ProjectManager.

You’ve now researched and written a persuasive executive summary to lead your proposal. You’ve put in the work and the potential client sees that and contracts you for the project. However, if you don’t have a reliable set of project management tools like Gantt charts , kanban boards and project calendars at hand to plan, monitor and report on the work, then all that preparation will be for nothing.

ProjectManager is online project management software that gives you real-time data and a collaborative platform to work efficiently and productively. But don’t take our word for it, take a free 30-day trial.

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How to Write an Executive Summary in 6 Steps

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When you’re starting a business, one of the first things you need to do is write a business plan. Your business plan is like a roadmap for your business, so you can lay out your goals and a concrete plan for how you’ll reach them.

Not only is a business plan essential for any business owner, but it’s also a requirement if you decide to apply for small business funding or find investors. After all, before a bank or individual hands over any money, they’ll want to be sure your company is on solid ground (so they can get their money back).

A business plan consists of several pieces, from an executive summary and market analysis to a financial plan and projections. The executive summary will be the first part of your business plan.

If wondering how to write an executive summary has kept you from completing your business plan, we’re here to help. In this guide, we’ll explain what an executive summary is and provide tips for writing your own so your business plan can start strong.

What is an executive summary?

An executive summary is a short, informative, and easy-to-read opening statement to your business plan. Even though it’s just one to two pages, the executive summary is incredibly important.

An executive summary tells the story of what your business does, why an investor might be interested in giving funds to your business, why their investment will be well-spent, and why you do what you do. An executive summary should be informative, but it should also capture a busy reader’s attention.

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Once we uncover your personalized matches, our team will consult you on the process moving forward.

Why write an executive summary?

Anyone you’re sending your executive summary and business plan to is likely busy—very busy. An entire business plan is long, involved, and deals with a lot of numbers.

Someone busy wants to get an understanding of your business, and they want to do it quickly, which is to say not by diving into a complicated, 80-page business plan. That’s where your executive summary comes in.

An executive summary provides just the opportunity to hook someone’s interest, tell them about your business, and offer a clear selling point as to why they should consider investing in your business.

Your executive summary is your chance to sell your business to potential investors and show them your business is worth not only their money but also their time.

What to include in an executive summary

By its nature, an executive summary is short. You must be able to clearly communicate the idea of your business, what sets you apart, and how you plan to grow into a successful enterprise.

The subsequent sections of your business plan will go into more detail, but your executive summary should include the most critical pieces of your business plan—enough to stand on its own, as it’s often the only thing a prospective investor will read. Here’s what your executive summary should include—consider it an executive summary template from which you can model your own.

1. The hook

The first sentence and paragraph of your executive summary determine whether or not the entire executive summary gets read. That’s why the hook or introduction is so important.

In general, a hook is considered anything that will get a reader’s attention. While an executive summary is a formal business document, you do want your hook to make you stand out from the crowd—without wasting time.

Your hook can be sharing something creative about your company, an interesting fact, or just a very well-crafted description of your business. It’s crucial to craft your hook with the personality of your reader in mind. Give them something that will make your company stand out and be memorable among a sea of other business plans.

Grab their attention in the first paragraph, and you’re much more likely to get your executive summary read, which could lead to an investment.

2. Company description summary

Now that you’ve hooked your reader, it’s time to get into some general information about your business. If an investor is going to give you money, after all, they first need to understand what your company does or what product you sell and who is managing the company.

Your company description should include information about your business, such as when it was formed and where you’re located; your products or services; the founders or executive team, including names and specific roles; and any additional details about the management team or style.

3. Market analysis

Your market analysis in the executive summary is a brief description of what the market for your business looks like. You want to show that you have done your research and proven that there is a need for your specific product or services. Some questions you should answer:

Who are your competitors?

Is there a demand for your products or services?

What advantages do you have that make your business unique in comparison to others?

To reiterate, stick to the highlights of your market analysis in your executive summary. You’ll provide a complete analysis in a separate section of your business plan, but you should be able to communicate enough in the executive summary that a potential investor can gauge whether your business has potential.

4. Products and services

Now that you’ve established a need in the market, it’s time to show just how your business will fill it. This section of your executive summary is all about highlighting the product or service that your company offers. Talk about your current sales, the growth you’ve seen so far, and any other highlights that are a selling point for your company.

This is also a good time to identify what sets your business apart and gives you a competitive advantage. After all, it’s unlikely that your business is the first of its kind. Highlight what you do better than the competition and why potential customers will choose your product or service over the other options on the market.

5. Financial information and projections

In this section of your executive summary, you want to give the reader an overview of your current business financials. Again, you’ll go more in-depth into this section later in your business plan, so just provide some highlights. Include your current sales and profits (if you have any), as well as what funding you’re hoping to acquire and how this will affect your financials in the next few years.

This is also where you can explain what funding, if any, you’ve received in the past. If you paid back your loan on time, this is an especially bright selling point for potential lenders.

6. Future plans

While asking for what funding you need is essential, you’ve also got to make clear what you’re going to use that funding for. If you’re asking for money, you want the person to know you have a plan to put those funds to good use.

Are you hoping to open another location, expand your product line, invest in your marketing efforts? This final section of your executive summary should detail where you want your business to go in the future, as well as drive home how funding can help you get there.

Tips for writing an executive summary

Even if you include each part of a good executive summary, you might not get noticed. What is written can be just as important as how it’s written. An executive summary has to strike a delicate balance between formal, personable, confident, and humble.

1. Be concise

An executive summary should include everything that’s in your business plan, just in a much shorter format. Writing a concise executive summary is no easy task and will require many revisions to get to the final draft. And while this is the first section of your executive summary, you’ll want to write it last, after you’ve put together all the other elements.

To choose your most important points and what should be included in the executive summary, go through your business plan, and pull out single-line bullet points. Go back through those bullet points and eliminate everything unnecessary to understanding your business.

Once you have your list of bullet points narrowed down, you can start writing your executive summary. Once it’s written, go back in and remove any unnecessary information. Remember, you should only be including the highlights—you have the rest of your business plan to go into more detail. The shorter and clearer your executive summary is, the more likely someone is to read it.

2. Use bullet points

One simple way to make your executive summary more readable is to use bullet points. If someone is reading quickly or skimming your executive summary, extra whitespace can make the content faster and easier to read.

Short paragraphs, short sentences, and bullet points all make an executive summary easier to skim—which is likely what the reader is doing. If important numbers and convincing stats jump out at the reader, they’re more likely to keep reading.

3. Speak to your audience

When writing your executive summary, be sure to think about who will be reading it; that’s who you’re speaking to. If you can personalize your executive summary to the personality and interests of the person who will read it, you’re more likely to capture their attention.

Personalizing might come in the form of a name in the salutation, sharing details in a specific way you know that person likes and the tone of your writing. An executive summary deals with business, so it will generally have a formal tone. But, different industries may be comfortable with some creativity of language or using shorthand to refer to certain ideas.

Know who you’re speaking to and use the right tone to speak to them. That might be formal and deferential, expert and clipped, informal and personable, or any other appropriate tone. This may also involve writing different versions of your executive summary for different audiences.

4. Play to your strengths

One of the best ways to catch the attention of your reader is to share why your business is unique. What makes your business unique is also what makes your business strong, which can capture a reader’s interest and show them why your business is worth investing in. Be sure to highlight these strengths from the start of your executive summary.

5. Get a test reader

Once you’ve written and edited your executive summary, you need a test reader. While someone in your industry or another business owner can be a great resource, you should also consider finding a test reader with limited knowledge of your business and industry. Your executive summary should be so clear that anyone can understand it, so having a variety of test readers can help identify any confusing language.

If you don’t have access to a test reader, consider using tools such as Hemingway App and Grammarly to ensure you’ve written something that’s easy to read and uses proper grammar.

How long should an executive summary be?

There’s no firm rule on how long an executive summary should be, as it depends on the length of your business plan and the depth of understanding needed by the reader to fully grasp your ask.

That being said, it should be as short and concise as you can get it. In general, an executive summary should be one to two pages in length.

You can fudge the length slightly by adjusting the margin and font size, but don’t forget readability is just as important as length. You want to leave plenty of white space and have a large enough font that the reader is comfortable while reading your executive summary. If your executive summary is hard to read, it’s less likely your reader will take the time to read your business plan.

What to avoid in an executive summary

While the rules for writing a stellar executive summary can be fuzzy, there are a few clear rules for what to avoid in your executive summary.

Your executive summary should avoid:

Focusing on investment. Instead, focus on getting the reader to be interested enough to continue and read your business plan or at least schedule a meeting with you.

Clichés, superlatives, and claims that aren’t backed up by fact. Your executive summary isn’t marketing material. It should be straightforward and clear.

Avoiding the executive summary no-nos is just as important as striking the right tone and getting in the necessary information for your reader.

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The bottom line

While an executive summary is short, it’s challenging to write. Your executive summary condenses your entire introduction, business description, business plan, market analysis, financial projections, and ask into one to two pages. Condensing information down to its most essential form takes time and many drafts. When you’re putting together your business plan’s executive summary, be sure to give yourself plenty of time to write it and to seek the help of friends or colleagues for editing it to perfection.

However, some tools make crafting a business plan, including your executive summary, a simpler process. A business plan template is a great place to start, and business plan software can especially help with the design of your business plan. After all, a well-written executive summary can make all the difference in obtaining funding for your business, so you’ll want all the help you can get.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

On a similar note...

How to Write an Executive Summary for a Business Plan

When you’re starting a business, one of the most important documents you’ll need to create is a business plan. A well-written business plan can help you secure funding from investors, convince suppliers to do business with you, and give you a roadmap for how your business will grow.

Wondering how to develop a good business plan ? In addition to all of the usual sections–like your company overview, products and services, market analysis, and financial projections–you also need to write an executive summary. The executive summary will decide whether potential investors will read the next sections of your business plan, which is why it’s the most crucial part of your proposal. 

In this article, we’ll discuss what an executive summary is, tips for writing a good one, and the mistakes you should avoid at all costs. 

What Is an Executive Summary, and Why Do You Need One?

An executive summary is a brief, yet comprehensive overview of your business plan. It should touch on all of the key points of your business, and then convince the reader to keep reading.

You can think of it as a preview of what’s to come, written in a concise, easy-to-understand format that describes your company goals, objectives, and projected financial impact. Although all sections of your business plan are important, the executive summary is critical because investors will base their decision on whether or not to read the rest of your proposal on how well you write it.

What’s more, if you’re writing for potential investors, they might even turn down a well-written business plan that doesn’t include an executive summary, which is why it might be a good idea to invest in a dedicated freelance business plan writer .

How to Write an Executive Summary for Your Business Plan

Now that you know why an executive summary is important, it’s time to learn how to write one–but before you set out to write an executive summary, make sure you’re clear about what a business plan is and why it’s important . 

With that being said, here are a few tips to help you write your summary: 

1. Start With a Bang

When readers see the first sentence of your executive summary, they should be hooked immediately. This means that you need to start with a strong opening that will grab their attention and keep them reading.

2. Explain Your Business in Detail

Your executive summary should provide a detailed overview of your entire business plan, including its core ideas and projected financial impact. This means that you need to describe all aspects of your company in enough detail so that readers can easily understand what it is and how it will succeed.

3. Back Up Your Claims With Data

When you’re writing an executive summary, it’s important to back up all of your claims with relevant data and statistics. This can include things like market research or financial projections, which will help illustrate the potential value of your business.

4. Use Persuasive Language

An executive summary is not the time to be shy–you need to use persuasive language that will convince readers to invest in your business. This means using strong verbs and making bold statements about your company’s potential.

5. Keep It Short and Sweet

Although you want to include all of the important details about your business in your executive summary, you also need to keep it concise. Aim for no more than two or three pages, and use clear, direct language.

6. Include a Call to Action

Your executive summary should end with a strong call to action that encourages readers to learn more about your business. This can be something as simple as inviting them to read the next sections of your business plan, or a suggestion to get in touch with you for more information.

What Are the Mistakes to Avoid When Writing an Executive Summary?

Just as there are steps you can take to write a strong executive summary, there are also mistakes that you should avoid at all costs. Here are a few things to keep in mind:

• Don’t be vague or overly general . Your executive summary should be detailed and specific, not just a vague overview of your business.
• Don’t include anything that isn’t relevant to your goals as a company . An executive summary is meant to highlight the most important aspects of your business, so save the details for later sections.
• Don’t be afraid to make bold claims . When you’re writing an executive summary, it’s okay to be confident and assertive in your language. Just remember to back up your statements with data and statistics.
• Don’t forget to proofread . Once you’ve finished writing your executive summary, be sure to proofread it carefully for any errors or typos. This is not the time to skimp on quality and may be another reason to hire a professional business plan writer.

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Everything you need to write a killer executive summary for your business plan

What is Executive Summary—and Why Should You Care?

Executive Summary is the first and most important section of a business plan, providing a snapshot of the overall plan with the aim to compel the reader to continue reading the full document by highlighting its most important components and strengths .

Keep reading for insider tips from a professional business writer on how exactly to write a captivating executive summary that will maximize the impact and success of your business plan.

You’ll discover:

• Why: Critical importance of an executive summary
• What: The key elements you need to include
• How: The best structure—length, layout and components

Importance: Why is Executive Summary Important in a Business Plan?

Executive summary is the most important part of a business plan because it is the first and only opportunity to grab readers’ interest as they review this section prior to deciding whether or not to read the rest of the document.

No matter how excellent your business idea, it is the executive summary alone that persuades a reader to spend more time with the plan to find out more about your venture.

Some financiers receive hundreds of business plans every month. Understandably, they do not read them all . Instead, they can tell in a couple of paragraphs if it is something they may be interested in.

The Executive Summary is so important, in fact, that some investors and lenders prefer to receive just the summary and financials before requesting the full business plan. So if you can hook your readers here, they will ask for more.

Similarly, senior decision-makers on many company or bank boards and committees will often read nothing else than an executive summary when approving a decision to back a business.

In other words, your Executive Summary is the  first impression  many readers will get of your business. Make sure it is a great one. Only a  clear ,  concise , and  compelling  summary of your business right up front twill persuade readers to wade through the rest of the plan.

Contents: What Should an Executive Summary for a Business Plan Include?

Executive summary brings the separate parts of a business plan together to sum up what the business is, where it is going, why it will be successful – and why it is worthy of backing . Highlight the most important and impressive facts about the company , management , offering , market , strategy and financials .

When completed, your executive summary will answer these questions for your readers:

• What is your business all about ?
• What are the most compelling qualities?
• Is the business likely to succeed and why?

Executive summary is an introduction to your business, which provides a brief snapshot of your plan as a whole. To that end, concisely highlight the most important concepts and impressive features from each section of your completed plan, addressing the following areas:

Essentially, you should make it crystal clear to the that a compelling market opportunity exists for your product/service and demonstrate that your business is well-positioned to exploit it .

Remember to be brief and concise . Organize the information in a way that gives the best impression of your business to your target reader. Combine related topics if that improves the flow of the document.

If the readers of your executive summary conclude that the above elements exist in your business, they are likely to commit to reading the rest of your business plan.

So, let’s examine each of the key elements in more detail to make the reader excited about the potential of your business plan and interested to read further:

Mission Statement

Answer this question for your readers:

• What is your business on a mission to create and why?

Aim: Convince the reader that your basic business concept makes sense.

Give a concise overview of your business idea, purpose and goals. Summarize why you have created this company and what your business is all about in one or two sentences, but no more than a paragraph.

Products and Services

Answer these questions for your readers:

• What product(s) and/or service(s) does your business provide?
• What problems are you solving for your target customers and how?
• What makes your product/service different and compelling for the customers to buy?

Aim: Demonstrate to the reader that your product/service solves a real problem in the market and that the problem is worth solving.

Briefly describe the products and services your company provides and what problems you solve for your target customers, making the case for why your product will be successful:

Description:

List the products or services your company sells or plans to sell.

Problem & Solution:

Explain the need for the products or services:

• Problem: Summarize the problem your product/service solves and why it is worth solving. In other words, what is it that your customers need and cannot find elsewhere.
• Solution: Summarize how you will solve the problem that your customers face.

Value Proposition:

Outline why your product or service will be valuable to your customers and the advantages that will make it compelling enough for them to purchase.

Market Opportunity

• Who are your (ideal) target customers?
• Is there a real market demand for your product/service?
• What is the size of the market opportunity?

Aim: Convince the reader that large and compelling market demand opportunity exists for your product/service.

List the target market you intend to reach and explain why you chose it:

Target Market:

Provide a brief description of your ideal customers and how do they break down into recognizable types or segments.

Market Analysis:

Indicate that you have done thorough market analysis by providing a summary of your market research results, including:

• How many potential customers are there for your solution (target market)
• What proportion of the market your company can reasonably capture (market share)
• Forecast estimating what the future holds for the industry and market demand

Competitive Advantage

• Who are your competitors?
• How is the market currently divided?
• What advantages does your company have over the competition?

Aim: Convince the reader that your business has a significant competitive edge to succeed in your target market.

This section is where you describe the gap in your target market, how your solution can fill it, and the competitive advantages that will enable you to exploit this market gap.

Hence, include information about your competition and what differentiates your business:

Competitors and Market Distribution:

Who are you up against? What other options do your customers have to address their needs? Indicate the nature of your competition and how the market is currently divided.

Competitive Advantage:

What comparative advantage does your product/service have?

Show your conclusions on your company’s competitive position and why your company will be able to compete successfully. Remember to list any important distinctions, such as patents, major contracts, or letters-of-intent.

Unique Selling Proposition:

What unique selling proposition will help your business succeed?

What makes your solution better for your customers compared to the competition?

Is competition going to get tougher?

Summarize your conclusions on whether competition is going to intensify going forward.

Company Description

Company information:.

• Is the management team capable?
• What are the basic details of your business?
• What is the company’s current stage of development?
• What are some of the milestones you’ve met?

Aim: Convince the reader that your business has the right structure and capable management team in place to succeed.

Your goal is to demonstrate that you are well-positioned to exploit the market opportunity by highlighting the positive factors in your company’s management, structure and history.

Company Details:

Include a short statement that covers the basic company details, such as the company name, when your business was formed, the names of the founders and their roles, number of employees, business location(s), and legal status.

Stage of Development:

State whether your company is a startup or continuing business, when it was founded, how far along the product or service is in its creation, and if you’ve already made sales or started shipping.

Track Record:

• If you are an established business, provide a brief history of the company’s trading activity to date, including financial and market growth highlights.
• If you are just starting a business, you won’t have as much information as an established company. Instead, focus on your experience and background as well as the decisions that led you to start this particular enterprise.

Management:

Briefly describe the bios of the key members of your management team , particularly those of company founders/owners , as well as the key professional advisors .

What do they bring to the table that will position your company well to take advantage of the market opportunity and make the business a success?

Highlight management’s vision and passion , along with the relevant skills , experience , qualifications , subject-matter expertise , business acumen , industry connections and other capabilities as they relate to the venture.

Operations:

Showcase the key operational features that will give the business a competitive edge.

This could include anything from an advantageous location, through innovative manufacturing technology and processes, to preferential supplier and distribution agreements – and anything in between.

Outline the strategy to achieve the company’s goals and continuously strengthen its competitive position.

Next, indicate the keys to success that you intend to use in order to implement that strategy, such as:

• Marketing and Sales: Briefly describe the methods you will utilize to reach your target customers to market your offering and secure sales.
• Operations and Resources: Summarize the most important resources and operational features your company will deploy to implement its strategy.

Address your plans for where you would like to take your business in the future.

Spell out the objectives you have for the company, what you plan to do:

• Where do you expect the business to be in 1 year, 3 years, 5 years ?
• What are some of the key milestones you plan to meet?
• What are your long-term goals ?
• What is your potential exit strategy ?

Make an educated projection for the expected performance of your business, including:

• Sales volume and value
• Cash flow position
• Profitability
• Number of employees
• Number of locations
• Market share
• New products

Financial Forecast

Summarize the expected financial outlook and performance for your business, answering the following questions for your readers:

• How much do you expect to make in the first year of your business?
• What kind of growth do you expect to see in the following years?
• If you do not expect your business to be profitable , do you have a strategic reason for running at a loss?
• What are the key metrics that you need to watch?
• Will your backers (if any) be able to get their money back and when ?
• Are your financial projections realistic ?

In general, it is customary to indicate financial information for years one through three or five , depending on the requirements of the business plan reader. Typically, this includes Year 1 and Year 3 / 5 results; and Year 10 / long-term goals.

However, your readers can find the detail of the projected financials further on in the plan. In this section, only provide the highlights of your forecast and encourage the reader to keep reading to learn more about your company.

Funding Requirements

How will you fund your business to get it started and grow it to the next level?

• Is it already self-sufficient?
• Do you plan to invest your own money?
• Do you seek outside financing?

If the business does not require any outside financing, you can note that here or just remove this section from your plan altogether.

When you are using the business plan for financing purposes, explain how much money is needed, from whom, and how you will utilize it to grow your business, hinting at an exit opportunity:

• Existing Source of Funds: Include information about your current lenders and investors, if any.
• Funding Requirements: Indicate how much money you are seeking, from what sources, and perhaps even under what conditions.
• Use of Funds: Specify how the raised funds will be used.
• Exit Strategy: Hint at how the backers will get their money out, with the expected timing and returns.

Tips: How Do You Write an Executive Summary?

Writing an executive summary is arguably the most fun – and important – part of writing a business plan.

You have already completed all the research, thinking and writing about market demand, competition, strategy, operations and financials.

All that is left to do now is to summarize the key conclusions into a coherent narrative , answering the million-dollar question:

Why is your plan worthy of backing?

Here are 7 tried and tested tips to prepare a compelling summary of your business that will convince the readers to read through the rest of your plan:

Target Audience (Tip #1)

Ask yourself: “Who will be reading my business plan?”

Since the summary is what the reader reads first, and may be the only section read at all, you can significantly improve your chances of a positive reception if you know the answer to that question before you prepare your executive summary.

Remember, your reader is only going to spend a few minutes , or even seconds , on your executive summary. This is especially true if you are targeting busy investors or lenders for whom it is not unusual to review more than 1,000 each year.

Naturally, the readers are going to focus on the issues that interest and concern them most . If you understand their priorities, you will be better able to craft the summary to “push the right buttons”. For example:

• Bankers are likely to look for aspects of your business that minimize risk to make sure the loan is secure and they will get their money back.
• Investors are focused on aspects that maximize the potential of your company scaling significantly and rapidly, because they will receive a share of that success.
• Management may be interested in accessing new markets for the company.

Do your homework to discover the interests and concerns of your most likely business plan recipients, and then write and organize the summary in a way that most appeals to your target audience:

• Place the issues most important to the reader near the top of your summary.
• Order the sections in any way that gives the best impression of your business to your target reader.
• In the text itself, give more emphasis to those aspects that concern your reader most.

If you are not able to identify the specific person who will read your plan, just focus on the general type of a person that is most likely to receive it and their concerns. 

However, it is not a good idea to tailor the executive summary for just one specific person or organization, especially if your plan is likely to end up in the hands multiple and/or unknown recipients.

To be on the safe side, target your summary to address general institutional concerns rather than individual preferences.

Insider Tips: Writing a Winning Executive Summary

Convey your enthusiasm (tip #2).

The Executive Summary enables the readers to quickly understand the highlights of your business and decide whether to commit more of their time to reading the full plan.

To that end, you need to motivate and entice the readers by your own optimism about how well-positioned your business is to exploit a compelling market opportunity, conveyed in a dynamic , positive and confident tone.

Write Executive Summary Last (Tip #3)

Your executive summary will be the last chapter of the business plan that you prepare.

Even though the executive summary always appears first in the completed document, it is usually crafted last after you have had a chance to carefully consider all key aspects of your business throughout the rest of the plan.

The executive summary is the place where you bring all your planning together and sum up the separate parts of your business proposal to provide an overall outline and highlight the strengths of your entire plan.

Therefore, you will find it much easier and faster to come back and produce this section once you have completed the rest of your business plan.

That way, you will have thought through all the elements of your business, work out the details, and be prepared to summarize them. This approach will not only increase the consistency and accuracy of the plan, but also help make it more compelling .

So, if you have not yet finalized the other sections of your plan, proceed to the next section, and return to the executive summary when you have completed the rest of your plan.

Once finished, the executive summary will become “ Chapter 1 ” of your business plan document.

Summarize Highlights (Tip #4)

A good summary contains highlights from all of the subsequent sections of the business plan.

To achieve that, select the key points from each section of your completed plan by summarizing conclusions you have reached in each area. Remember to focus only on the most important and impressive features of your business.

What sets your business apart from the competition? Early on in your summary, showcase your distinguishing qualities and make sure you describe your winning concept in a way that any reader can easily grasp .

Use logical writing to tell a story, freely changing the order of sections and combining related topics if that helps to improve the flow and make a good impression.

Make Each Word Count (Tip #5)

The executive summary provides a brief snapshot of your business, casting a spotlight on the most important facts and concepts from your entire business plan.

As a result, this section should be clear , concise and to the point. Make each word should count.

Avoid Jargon (Tip #6)

In case the summary read by people unfamiliar with your industry, avoid any technical jargon or provide sufficient explanatory notes .

Edit, Edit, … And Edit Some More (Tip #7)

By the time you reach the executive summary, you may be tired from all the planning and writing. However, remember that this really is the most important section of the business plan.

The best investment you can make is to spend sufficient time to perfect the summary, including ruthless editing . There are professional editors who can help you make it flawless.

Design: How Do You Design an Executive Summary?

Looks matter. Your business plan will be well researched, analysed and written, but it must also be well presented. While your plan will ultimately be judged on the quality of your business concept and strategy, you also want to make sure it gives the best first impression possible.

And nowhere is presentation more important than in the executive summary, because for all readers it will be the first page(s) they read – and some will read nothing else.

The key advice here is: Break it Up . Large, dense blocks of text intimidate readers.

Dividing the Summary text with paragraph headings, bullet points and white space makes the information on a page more inviting and appealing:

• Paragraphs: Break up the Summary into paragraphs that roughly mirror the sections of your business plan
• Brief: Keep each topic as brief as possible
• Subheads: Insert informative topic headings at the beginning of each paragraph to help readers’ quick comprehension
• Bullets: Use bullet points to highlight the most compelling information
• Numbers: Use numbers instead of words where appropriate
• Visuals: Include a (small) chart or graph if it helps to clarify an important point
• Spacing: Use white space to break up the text to make the page look less intimidating. Single space text, but leave an extra line of space between paragraphs.

Because you are limited to so few pages, it may seem counterintuitive to give up space for visual considerations, but these effective techniques make your Summary much more accessible to the business plan readers.

The way you prepare and present the executive summary is an indicator of your professionalism. A polished Summary sheds a favourable light on your business. A sloppy one works against you.

Length: How long is an executive summary?

The executive summary in a business plan should be no more than 2-3 pages in length, with 1 page being perfectly acceptable and often preferable. The advantage to the busy business plan reader is that they are able to skim through this short summary in a few seconds and read it in full in less than 5 minutes .

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• Writing Tips

How to Write an Executive Summary for a Business Plan

3-minute read

• 19th November 2023

An executive summary is the part of a business plan that gives an outline of the main plan. So to write an executive summary, we first need to read the business plan carefully and understand its key points. These key points are what we will condense to form the executive summary. It’s important to ensure that the executive summary can stand alone because plenty of users will read only that and not the main business plan. We could say that the business plan is the original TL;DR (too long; didn’t read)!

But first, let’s take a quick look at what goes into a business plan so we can focus on the sections we need for our executive summary.

What Is a Business Plan?

A business plan is a document that sets out a business’s strategy and the means of achieving it. The business plan usually contains the following sections:

How to Write an Executive Summary

The executive summary covers the same headings as the main business plan but not in so much detail. This is where our editing skills come to the fore!

The following six steps explain how to approach writing the executive summary.

Consider the Audience

Who will be using the summary? The business plan might be issued only to a very specific group of people, in which case, their needs are paramount and specialized. If the business plan is going out on wider release, we need to think about what a general reader will want to know.

Check That It Makes Sense on Its Own

Make sure the summary can be read as a stand-alone document for users who won’t read the whole plan.

Use Formatting Effectively

Make good use of formatting, headings, numbering, and bullets to increase clarity and readability.

Keep It Brief

One page (or around ten percent of the total word count for a large document) is great.

Avoid Jargon

Try to avoid jargon and use straightforward language. Readers of the executive summary might not have business backgrounds (for instance, if they are friend and family investors in a small start-up business).

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Proofread the Executive Summary

The executive summary will very likely be the first – and perhaps the only – part of the business plan some people will read, and it must be error-free to make a professional impression.

●  Consider the audience .

●  Ensure that the executive summary can stand alone.

●  Use formatting tools to good advantage.

●  Keep it brief.

●  Keep it simple.

●  Proofread it.

If you’d like an expert to proofread your business plan – or any of your writing – get in touch!

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How to Write a Management Summary in a Business Plan

Written by Professional Academy guest blogger Lori Wade

Writing a business plan definitely isn’t easy. It’s a long, energy-consuming process that requires paying a lot of attention to the details and making sure that you didn’t forget to mention something in your plan.

This also means that in order to create a proper business plan you shouldn’t focus on the planning process only. You should also remember to mention and describe all the important details that will matter for potential investors – for example, a management summary.

What is a management summary?

Basically, it’s a section that includes all the most important information about people responsible for company’s management. By adding such section to your business plan you show the investors how exactly is your business structured. You also demonstrate them who are involved in the development of your company and how’s the whole business is managed.

This section is very important because it demonstrates the experience of your team, and therefore the strength of your company the most. It supports all the data provided in other sections of your business plan and can influence the investors’ decision a lot.

For better understanding, you can check the examples of management summaries included in a bakery business plan and in a coffee shop business plan .

What has to be included in a management summary?

1. the founder/the leader of the team..

Without a doubt, focusing on your management team is important. Focusing on a person responsible for selecting and organizing this team is even more important, though.

Write about the team leader, making sure that their background, vision, and credentials are described in details. If possible, explain how exactly did they choose this specific management team. Don’t go into many details but make sure that even a brief explanation is included.

2. The team itself.

It’s important to write about your managers, of course. The question is how can you do it right?

Don’t forget that your goal is to highlight their skills and professionalism – and to do this quickly and briefly at the same time. The investors won’t have much time to read the detailed descriptions, therefore you should focus on the following things:

• Your managers’ education, which doesn’t necessarily mean their academic background – only the one that matters for their position. This means you can focus on professional courses, professional training and so on if you find them more relevant;
• Their work experience regarding the field. Focus on both current and previous work experience;
• Their skills – also the ones that matter for their position and for the company;
• Their accomplishments gained during working for your company;
• Some personal details that might matter: age, the city where they live at the moment, their most notable activities, and their motives to become part of your company’s team.

3. The board members.

Assuming you have them, include them in this section along with the reasons why there were included in the first place.

4. Some outside professionals.

Your company’s staff isn’t always limited to people who work for you. Sometimes you might need the help of some outside professionals and while the reasons for that could be very different, it’s important to not forget to mention them in this section. This will show the investors that you have every important area of your business covered.

Here are some tips on how can you do so.

1.    Describe how your staff interacts with each other.

Sure, describing your employees’ primary roles in your company is important. However, any company doesn’t work strictly as described in the various organizational chart. The employees sometimes go beyond their basic professional duties, interacting with each other and taking different professional roles. It’s crucial to describe it so the investors would understand how your company really functions.

2.    Focus on what’s important, discard what’s not.

We’ve already mentioned the details about your management team that is important to include in this section. While some additional information actually might be a plus, you should still pay attention to what you decide to include. Otherwise, there’s a big chance you’ll focus on things that aren’t as relevant – for example, list the whole employees’ bios in this section.

You can still add them to your business plan, though, but not here. Put them in the appendix, for example.

3.    Make sure the connections between employees and business activities are clear.

When we’re describing the management team, we do so in order to describe the roles they play in the business. Therefore, it’s important to make the connection between your staff and your company’s achievements evident. Make sure that you relate specific skills and work experience of your employees with the roles that they play and will play in both your company’s present and future.

4.    Encourage your team to review your writing.

Of course, no business plan is written without a review. A management summary is also rarely written flawlessly from the first draft – in most cases, you need to review and edit it properly.

It’s a good idea to encourage your management team to participate in reviewing this section of your plan. In this case, they will be able to confirm that all the information about them, their skills, and roles are listed correctly. They might also be able to offer some valuable suggestions to you.

Moreover, such approach will show your team that you value their opinion and care about them. Such things can affect your communication greatly, motivating your staff and boosting their productivity.

Summing this up, just like a thesis statement definition is a crucial part of any essay, a management summary is a very important part of every business plan. Of course, writing it isn’t easy – and doing it the right way is even more challenging. However, these tips will hopefully help you create a strong and impressive management summary that will make the right impression on the potential investors.

What do you think about management summaries? Do you find them important for any business plan or do you think that they aren’t necessary?

Lori Wade is a freelance content writer who is interested in a wide range of spheres from education and online marketing to entrepreneurship. She is also an aspiring tutor striving to bring education to another level like we all do. If you are interested in writing, you can find her on Twitter or Google+ or find her on other social media. Read and take over Lori’s useful insights!

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How to Write an Executive Summary

Written by Dave Lavinsky

Executive Summary of a Business Plan

On this page:, what is an executive summary, why do i need an executive summary, executive summary length, key elements of an executive summary, how do i write an executive summary for a business plan, the dos and don’ts of creating a great executive summary, summary of writing a great executive summary, business plan executive summary example, executive summary frequently asked questions.

• Other Helpful Business Plan Articles

An executive summary of a business plan gives readers an overview of your business plan and highlights its key points.

The executive summary should start with a brief overview of your business concept. Then it should briefly summarize each section of your business plan: your industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan and funding needs.

If presented for funding, the executive summary provides the lender or investor a quick snapshot which helps them determine their interest level and if they should continue reading the rest of the business plan.

An effective executive summary is a quick version of your complete business plan. You need to keep it simple and succinct in order to grab the reader’s attention and convince them it’s in their best interest to keep reading.

Download our Ultimate Business Plan Template here >

As mentioned above, your business plan is a detailed document that requires time to read. Capturing the reader’s attention with a concise, interesting overview of your plan saves them time and indicates which parts of the business plan may be most important to read in detail. This increases the odds that your business plan will be read and your business idea understood. This is why you need a well-written executive summary.

When structuring your executive summary, the first thing to keep in mind is that it should be short and comprehensive. The length of your business plan executive summary should never exceed 3 pages; the ideal length is 1-2 pages.

The following are the key elements to include in your business plan executive summary:

• The problem statement or business opportunity — Generally there is a gap or a problem in the market which your business aims to solve. This is your problem statement and it must be included in the summary, as investors want to understand if the world truly needs your company’s products and/or services.
• Your business idea – The next thing a reader would want to know is how you plan to approach the problem and solve it. This is your business model and it should briefly describe how your product or service can help solve the problem.
• Company history – The best indicator of future success is past success. Your company’s history helps the reader understand how your business has evolved and grown over the years and what you’ve been able to accomplish. Even startups have generally accomplished milestones like choosing a company name, conceiving products, finding a location, etc.
• Industry – Here you will detail the industry in which you are operating, it’s size and if any trends are positively or negatively influencing it. This gives readers a sense of the size of the opportunity you are pursuing.
• The target market or customer – Every business has a target customer base or a target market on which they focus. Here you will detail the types of customers you target and their demographic and psychographic profiles.
• Competition – When you venture into a market or an industry, there are generally other players with which you compete. Knowing your competition is important and market research is crucial to success. Readers of your plan want to know who your competitors are, their strengths and in what areas you will have competitive advantage. Discussing the competitive landscape is a crucial component of a strong executive summary.
• Milestones – In addition to showing relevant milestones your company has achieved, you need to explain your timeline for key milestones or key points in the future. Include dates you hope to launch products, achieve sales milestones, hire key employees, etc.
• Financial plan – If you are requesting funding from investors or banks, they will want to know how you are going to their funds. A brief financial summary covering key points of how and where you plan to allocate the funds should be included in the summary. For existing businesses, you should also provide a history/summary of past financial performance. Finally, for all businesses, you need to provide future financial projections so investors can determine whether they might get an adequate return from investing in you and lenders can ascertain whether or not you will be able to repay your debts.
• Management Team – In this section, you will introduce the key members of your team. The success or failure of your company depends largely on the people involved. So, any reader surely wants to know how well equipped your team is. Mention key staff members and the experience and skills they bring, in the executive summary.

To help you get started, you can download our executive summary example business plan pdf here.

Your executive summary is the most important part of your business plan since it’s the first thing investors, lenders and/or other readers see. And if they aren’t impressed, they’ll stop reading and you’ll lose them forever. To give yourself the best chances of success, follow these steps to write your executive summary.

1) Complete the rest of your business plan. Your executive summary provides highlights of each section of your business plan. As such, you need to first write those sections. Then, read each section and figure out what information from each must be included in the executive summary. For instance, if your industry analysis section mentioned that your industry’s current size is $100 billion and is projected to grow by 90% per year over the next 5 years, this is an exciting statistic and opportunity that should be mentioned in your executive summary.

2) Start with a one to two line description of your company. Your executive summary must start with a simple description of your company. Readers must be able to quickly and easily understand what your company does so they can decide whether they’re interested in the opportunity. If readers can’t quickly understand what you do, many will stop reading and you’ll lose the ability to get them involved in your company.

3) Create your executive summary structure. Start by creating headers for each section of your business plan. For example, you should have a marketing plan header, a customer analysis header, etc. Then, within each header, summarize the most important point you mentioned in that section.  For example, under your marketing plan, you would write your three most important promotional tactics. Under customer analysis, you’d write a detailed one to two line description of your target customers. Then figure out the best way to organize your executive summary. You can either keep the headers, or create new headers like “business overview” and “unique success factors” in which you cut and paste the old sections as appropriate.

4) Make it shorter. Mark Twain once wrote “If I had more time, i would have written a shorter letter.” The more concise your executive summary is, the more successful it will. Read through your executive summary and aggressively edit it so you convey your key messages in the least amount of words possible.

5) Bring in outside readers. Find at least five people to read your executive summary. Ask them to spend no more than five minutes doing so. Then ask them questions about it. Did they understand what your company does? Are they able to recite back to you your company’s value proposition? If the readers are unable to understand and get excited by your executive summary, then you need to keep working on it.

There are certain mistakes often made in writing an executive summary. If these little glitches can be avoided, writing a flawless executive summary for your business plan is not difficult. So here are a few important tips and tricks for you to remember.

• Write the summary last – You executive summary should follow nearly the same order as your detailed business plan. Which is why it is important that you write the summary only after you are done with all your research and have finished writing your detailed business plan. This ensures that you include only the most salient parts of your business plan and can write a clear and concise summary.
• Use a positive and confident tone – The language and tone that you use in writing any document makes a huge impact on how it is received by the reader. Since the executive summary must convince the reader your plan will work, your language should be strong and assertive. For instance, instead of using words like “might” or “could” use words like “will”. Don’t let the readers doubt your capability by using weak language or tone of writing.
• Don’t give away everything in the summary – Many a times we make this mistake of giving too much background or too many details in the summary. Details are meant for the full business plan. Your executive summary is meant to direct people towards the detailed plan, so avoid sharing everything in the summary itself.
• Cover the bases – The executive summary must cover the important questions asked and answered by your business plan. The three most important questions are “What is the definition of the business you are in?”, “What is the market size and need?” and “How is the company uniquely qualified to succeed in that market?”
• Simplify – define your business in a way that it can be understood within the short executive summary. To do this, you must be able to use plain language and only one or two sentences for this definition. If there are additional elements to the business which will go beyond its core or become future potential directions you will take, the executive summary is not the place to go into those. Make sure the business definition can be summed up so that anyone with only a very basic understanding of the industry can understand.
• Make sure the logic flows – This is true within the plan as a whole, and within the executive summary. The logic of why your specific team and resources are suited for the specific market opportunity you identified and why you’ve chosen the marketing methods you have should be apparent and raise no red flags. If there is a jump in the logic – for example, it is not clear how the management team has any expertise suited for the business in question – then readers will move on to another plan rather than read on to answer that question in the body of the plan. This logic should be clear, although in concise and simplified format, even within the executive summary.
• Ensure the content of your summary matches your business plan – The information that you share in your executive summary should match what you have in your full business plan. Make sure that there are no discrepancies between the two.
• Avoid repeating content in the executive summary – You already have very little space to include everything you should in your executive summary. Repeating content wastes precious space.

Whether you’re a large or small business, your executive summary is the first thing someone reads that forms an opinion of your business. Whether they decide to read your detailed business plan or push it aside depends on how good your executive summary is. We hope your executive summary guide helps you craft an effective and impactful executive summary. That way, readers will be more likely to read your full plan, request an in-person meeting, and give you funding to pursue your business plans.

Looking to get started on your business plan’s executive summary? Take a look at the business plan executive summary example below!

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Shoutmouth.com Executive Summary Template

Business Overview

Launched late last year, Shoutmouth.com is the most comprehensive music news website on the Internet .

Music is one of the most searched and accessed interests on the Internet. Top music artists like Taylor Swift receive over 5 million searches each month. In addition, over 500 music artists each receive over 25,000 searches a month.

However, music fans are largely unsatisfied when it comes to the news and information they seek on the artists they love. This is because most music websites (e.g., RollingStone.com, MTV.com, Billboard.com, etc.) cover only the top eight to ten music stories each day – the stories with mass appeal. This type of generic coverage does not satisfy the needs of serious music fans. Music fans generally listen to many different artists and genres of music. By publishing over 100 music stories each day, Shoutmouth enables these fans to read news on all their favorite artists.

In addition to publishing comprehensive music news on over 1200 music artists, Shoutmouth is a social network that allows fans to meet and communicate with other fans about music, and allows them to:

• Create personal profiles
• Interact with other members
• Provide comments on news stories and music videos
• Submit news stories and videos
• Recommend new music artists to add to the community
• Receive customized news and email alerts on their favorite artists

Success Factors

Shoutmouth is uniquely qualified to succeed due to the following reasons:

• Entrepreneurial track record : Shoutmouth’s CEO and team have helped launch numerous successful ventures.
• Monetization track record : Over the past two years, Shoutmouth’s founders have run one of the most successful online affiliate marketing programs, having sold products to over 500,000 music customers online.
• Key milestones completed : Shoutmouth’s founders have invested $500,000 to-date to staff the company (we currently have an 11-person full-time team), build the core technology, and launch the site. We have succeeded in gaining initial customer traction with 50,000 unique visitors in March, 100,000 unique visitors in April, and 200,000 unique visitors in May.

Unique Investment Metrics

The Shoutmouth investment opportunity is very exciting due to the metrics of the business.

To begin, over the past five years, over twenty social networks have been acquired. The value in these networks is their relationships with large numbers of customers, which allow acquirers to effectively sell to this audience.

The sales price of these social networks has ranged from $25 to $137 per member. Shoutmouth has the ability to enroll members at less than $1 each, thus providing an extraordinary return on marketing expenditures. In fact, during a recent test, we were able to sign-up 2,000 members to artist-specific Shoutmouth newsletters at a cost of only 43 cents per member.

While we are building Shoutmouth to last, potential acquirers include many types of companies that seek relationships with music fans such as music media/publishing (e.g., MTV, Rolling Stone), ticketing (e.g., Ticketmaster, LiveNation) and digital music sales firms (e.g., iTunes).

Financial Strategy, Needs and Exit Strategy

While Shoutmouth’s technological, marketing and operational infrastructure has been developed, we currently require $3 million to execute on our marketing and technology plan over the next 24 months until we hit profitability.

Shoutmouth will primarily generate revenues from selling advertising space. As technologies evolve that allow us to seamlessly integrate music sampling and purchasing on our site, sales of downloadable music are also expected to become a significant revenue source. To a lesser extent, we may sell other music-related items such as ringtones, concert tickets, and apparel.

Topline projections over the next three years are as follows:

Other Resources for Writing Your Business Plan

• How to Expertly Write the Company Description in Your Business Plan
• How to Write the Market Analysis Section of a Business Plan
• The Customer Analysis Section of Your Business Plan
• Completing the Competitive Analysis Section of Your Business Plan
• The Management Team Section of Your Business Plan
• Financial Assumptions and Your Business Plan
• How to Create Financial Projections for Your Business Plan
• Everything You Need to Know about the Business Plan Appendix
• Business Plan Conclusion: Summary & Recap

What is the purpose of an executive summary?

An executive summary provides a quick overview of your business plan. It succinctly describes your business. It gives a summary of each of the other sections of your plan (e.g., marketing plan, financial plan, customer analysis, etc.). And it answers the key question that investors and lenders need to know: why is your business uniquely qualified to succeed?

What is included in an executive summary?

Your executive summary should include an overview of your business concept, a summary of each of the key sections of your plan (company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan) and answer why your business is uniquely qualified to succeed.

How long is an executive summary?

Your executive summary should be one to two pages. Remember that the goal of the summary is simply to excite the reader into continuing through your full plan. Give them a summary of the key highlights of your business and invite them to learn more by reading the full business plan.

How do you start off a summary?

If the first paragraph of your executive summary isn’t compelling enough, you’ll immediately lose readers. So, start your executive summary by clearly stating what your business does and why your company is unique. Then give a summary of each of the other sections of your plan (e.g., competitive analysis, industry analysis, etc.).

Other Helpful Business Plan Articles & Templates

How to Write An Executive Summary for a Business Plan

It is important to know how to write an executive summary for a business plan, particularly if you expect an outside source to read it. 3 min read updated on February 01, 2023

It is important to know how to write an executive summary for a business plan, particularly if you expect an outside source to read it. This part of your business plan will provide a brief, but thorough overview of the most critical details of your company so that you can attract investors or reach other important goals as an organization.

What is an Executive Summary?

An executive summary can be defined as a short introduction in your business plan. The goal of the executive summary is to highlight the key points of the plan for anyone who reads it, which helps to save time and lets them know what the rest of the business plan will include.

It is essentially an advance organizer. The executive summary can often be considered the most crucial part of a business plan. It will describe a business, which problems it will solve, the target market, and a highlight of the financials.

Every plan will not need a summary. It is crucial for the plans that are written for outsiders. It will take considerable effort to write an excellent summary. If there is no real business use for it, do not write the summary.

There are many jobs that are accomplished by an executive summary . It needs to show readers the answers to their questions by pointing to the section with detailed information about their query. It should also make it easier for anyone who has to read it while making it enjoyable, through the presentation of interesting and useful facts about a company.

What Should an Executive Summary Include?

What needs to be included in an executive summary will largely depend on the business. The summary for a start-up and an established company will vary greatly. For start-ups, the primary goal of the business plan is to get money by convincing banks, venture capitalists, or angel investors to invest in a business by providing equity or debt financing.

To accomplish this, a company will need to present a tight case for a business idea. This is where the executive summary is very important.

An executive summary needs to include the following :

• Who are you? You need to provide the name of your business, its location, and all contact information.
• What do you offer and what problems will your business solve ? You should include a short description of the products and services you provide and why it is needed. The business does not need to solve a huge social problem, but it needs to show why it meets a specific need in the market.
• Who is your target market? You need to describe the type of customer you are trying to reach. Your product can define itself through its name in some cases, such as “Prius dashboard accessory.” If this is not the case, simply provide a short description of who your target customer is.
• What is the purpose of your business plan? You need to state whether you are trying to get investments or a bank loan. The executive summary is really only needed when you are sharing your plan with outsiders.
• Who is your competition? Talk about your competition and describe the strategies you will implement for getting a share of the market. Name your competitive advantages and how you stand out against the competition.
• How are your finances? You should include a financial analysis to summarize your financial plan. You also need to include all projections for the next three years.
• What is your size and scale? For instance, if you own an existing company, this information can consist of simply adding your most recent sales numbers. For a start-up, it can be a short description of your goals or aspirations for the next one to three years.
• Are there any further critical details? You should mention any important, defining detailed information that will be important to whoever reads your summary. For example, you could include that those who founded the company are all local MBA students or any development grants you have received.

If you need help with writing an executive summary for your business plan, you can post your legal need on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law, and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

Hire the top business lawyers and save up to 60% on legal fees

Content Approved by UpCounsel

• Example of a Good Executive Summary for Business Plan
• Business Plan Executive Summary Example Startup
• Creating a Business Plan
• Business Plan Format: Everything you Need to Know
• Management Summary Business Plan Sample
• Business Plan
• Parts of Business Plan and Definition
• Business Description Outline
• Contents of a Business Plan
• Startup Business Plan Presentation Template

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• Project planning |
• How to write an executive summary, with ...

How to write an executive summary, with examples

The best way to do that is with an executive summary. If you’ve never written an executive summary, this article has all you need to know to plan, write, and share them with your team.

What is an executive summary?

An executive summary is an overview of a document. The length and scope of your executive summary will differ depending on the document it’s summarizing, but in general an executive summary can be anywhere from one to two pages long. In the document, you’ll want to share all of the information your readers and important stakeholders need to know.

Imagine it this way: if your high-level stakeholders were to only read your executive summary, would they have all of the information they need to succeed? If so, your summary has done its job.

You’ll often find executive summaries of:

Business cases

Project proposals

Research documents

Environmental studies

Market surveys

Project plans

In general, there are four parts to any executive summary:

Start with the problem or need the document is solving.

Outline the recommended solution.

Explain the solution’s value.

Wrap up with a conclusion about the importance of the work.

What is an executive summary in project management?

In project management, an executive summary is a way to bring clarity to cross-functional collaborators, team leadership, and project stakeholders . Think of it like a project’s “ elevator pitch ” for team members who don’t have the time or the need to dive into all of the project’s details.

The main difference between an executive summary in project management and a more traditional executive summary in a business plan is that the former should be created at the beginning of your project—whereas the latter should be created after you’ve written your business plan. For example, to write an executive summary of an environmental study, you would compile a report on the results and findings once your study was over. But for an executive summary in project management, you want to cover what the project is aiming to achieve and why those goals matter.

The same four parts apply to an executive summary in project management:

Start with the problem or need the project is solving.  Why is this project happening? What insight, customer feedback, product plan, or other need caused it to come to life?

Outline the recommended solution, or the project’s objectives.  How is the project going to solve the problem you established in the first part? What are the project goals and objectives?

Explain the solution’s value.  Once you’ve finished your project, what will happen? How will this improve and solve the problem you established in the first part?

Wrap up with a conclusion about the importance of the work.  This is another opportunity to reiterate why the problem is important, and why the project matters. It can also be helpful to reference your audience and how your solution will solve their problem. Finally, include any relevant next steps.

If you’ve never written an executive summary before, you might be curious about where it fits into other project management elements. Here’s how executive summaries stack up:

Executive summary vs. project plan

A  project plan  is a blueprint of the key elements your project will accomplish in order to hit your project goals and objectives. Project plans will include your goals, success metrics, stakeholders and roles, budget, milestones and deliverables, timeline and schedule, and communication plan .

An executive summary is a summary of the most important information in your project plan. Think of the absolutely crucial things your management team needs to know when they land in your project, before they even have a chance to look at the project plan—that’s your executive summary.

Executive summary vs. project overview

Project overviews and executive summaries often have similar elements—they both contain a summary of important project information. However, your project overview should be directly attached to your project. There should be a direct line of sight between your project and your project overview.

While you can include your executive summary in your project depending on what type of  project management tool  you use, it may also be a stand-alone document.

Executive summary vs. project objectives

Your executive summary should contain and expand upon your  project objectives  in the second part ( Outline the recommended solution, or the project’s objectives ). In addition to including your project objectives, your executive summary should also include why achieving your project objectives will add value, as well as provide details about how you’re going to get there.

The benefits of an executive summary

You may be asking: why should I write an executive summary for my project? Isn’t the project plan enough?

Well, like we mentioned earlier, not everyone has the time or need to dive into your project and see, from a glance, what the goals are and why they matter.  Work management tools  like Asana help you capture a lot of crucial information about a project, so you and your team have clarity on who’s doing what by when. Your executive summary is designed less for team members who are actively working on the project and more for stakeholders outside of the project who want quick insight and answers about why your project matters.

An effective executive summary gives stakeholders a big-picture view of the entire project and its important points—without requiring them to dive into all the details. Then, if they want more information, they can access the project plan or navigate through tasks in your work management tool.

How to write a great executive summary, with examples

Every executive summary has four parts. In order to write a great executive summary, follow this template. Then once you’ve written your executive summary, read it again to make sure it includes all of the key information your stakeholders need to know.

1. Start with the problem or need the project is solving

At the beginning of your executive summary, start by explaining why this document (and the project it represents) matter. Take some time to outline what the problem is, including any research or customer feedback you’ve gotten . Clarify how this problem is important and relevant to your customers, and why solving it matters.

For example, let’s imagine you work for a watch manufacturing company. Your project is to devise a simpler, cheaper watch that still appeals to luxury buyers while also targeting a new bracket of customers.

Example executive summary:

In recent customer feedback sessions, 52% of customers have expressed a need for a simpler and cheaper version of our product. In surveys of customers who have chosen competitor watches, price is mentioned 87% of the time. To best serve our existing customers, and to branch into new markets, we need to develop a series of watches that we can sell at an appropriate price point for this market.

2. Outline the recommended solution, or the project’s objectives

Now that you’ve outlined the problem, explain what your solution is. Unlike an abstract or outline, you should be  prescriptive  in your solution—that is to say, you should work to convince your readers that your solution is the right one. This is less of a brainstorming section and more of a place to support your recommended solution.

Because you’re creating your executive summary at the beginning of your project, it’s ok if you don’t have all of your deliverables and milestones mapped out. But this is your chance to describe, in broad strokes, what will happen during the project. If you need help formulating a high-level overview of your project’s main deliverables and timeline, consider creating a  project roadmap  before diving into your executive summary.

Continuing our example executive summary:

Our new watch series will begin at 20% cheaper than our current cheapest option, with the potential for 40%+ cheaper options depending on material and movement. In order to offer these prices, we will do the following:

Offer watches in new materials, including potentially silicone or wood

Use high-quality quartz movement instead of in-house automatic movement

Introduce customizable band options, with a focus on choice and flexibility over traditional luxury

Note that every watch will still be rigorously quality controlled in order to maintain the same world-class speed and precision of our current offerings.

3. Explain the solution’s value

At this point, you begin to get into more details about how your solution will impact and improve upon the problem you outlined in the beginning. What, if any, results do you expect? This is the section to include any relevant financial information, project risks, or potential benefits. You should also relate this project back to your company goals or  OKRs . How does this work map to your company objectives?

With new offerings that are between 20% and 40% cheaper than our current cheapest option, we expect to be able to break into the casual watch market, while still supporting our luxury brand. That will help us hit FY22’s Objective 3: Expanding the brand. These new offerings have the potential to bring in upwards of three million dollars in profits annually, which will help us hit FY22’s Objective 1: 7 million dollars in annual profit.

Early customer feedback sessions indicate that cheaper options will not impact the value or prestige of the luxury brand, though this is a risk that should be factored in during design. In order to mitigate that risk, the product marketing team will begin working on their go-to-market strategy six months before the launch.

4. Wrap up with a conclusion about the importance of the work

Now that you’ve shared all of this important information with executive stakeholders, this final section is your chance to guide their understanding of the impact and importance of this work on the organization. What, if anything, should they take away from your executive summary?

To round out our example executive summary:

Cheaper and varied offerings not only allow us to break into a new market—it will also expand our brand in a positive way. With the attention from these new offerings, plus the anticipated demand for cheaper watches, we expect to increase market share by 2% annually. For more information, read our  go-to-market strategy  and  customer feedback documentation .

Example of an executive summary

When you put it all together, this is what your executive summary might look like:

Common mistakes people make when writing executive summaries

You’re not going to become an executive summary-writing pro overnight, and that’s ok. As you get started, use the four-part template provided in this article as a guide. Then, as you continue to hone your executive summary writing skills, here are a few common pitfalls to avoid:

Avoid using jargon

Your executive summary is a document that anyone, from project contributors to executive stakeholders, should be able to read and understand. Remember that you’re much closer to the daily work and individual tasks than your stakeholders will be, so read your executive summary once over to make sure there’s no unnecessary jargon. Where you can, explain the jargon, or skip it all together.

Remember: this isn’t a full report

Your executive summary is just that—a summary. If you find yourself getting into the details of specific tasks, due dates, and attachments, try taking a step back and asking yourself if that information really belongs in your executive summary. Some details are important—you want your summary to be actionable and engaging. But keep in mind that the wealth of information in your project will be captured in your  work management tool , not your executive summary.

Make sure the summary can stand alone

You know this project inside and out, but your stakeholders won’t. Once you’ve written your executive summary, take a second look to make sure the summary can stand on its own. Is there any context your stakeholders need in order to understand the summary? If so, weave it into your executive summary, or consider linking out to it as additional information.

Always proofread

Your executive summary is a living document, and if you miss a typo you can always go back in and fix it. But it never hurts to proofread or send to a colleague for a fresh set of eyes.

In summary: an executive summary is a must-have

Executive summaries are a great way to get everyone up to date and on the same page about your project. If you have a lot of project stakeholders who need quick insight into what the project is solving and why it matters, an executive summary is the perfect way to give them the information they need.

For more tips about how to connect high-level strategy and plans to daily execution, read our article about strategic planning .

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How To Write the Management Section of a Business Plan

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

Ownership Structure

Internal management team, external management resources, human resources, frequently asked questions (faqs).

When developing a business plan , the 'management section' describes your management team, staff, resources, and how your business ownership is structured. This section should not only describe who's on your management team but how each person's skill set will contribute to your bottom line. In this article, we will detail exactly how to compose and best highlight your management team.

Key Takeaways

• The management section of a business plan helps show how your management team and company are structured.
• The first section shows the ownership structure, which might be a sole proprietorship, partnership, or corporation.
• The internal management section shows the department heads, including sales, marketing, administration, and production.
• The external management resources help back up your internal management and include an advisory board and consultants.
• The human resources section contains staffing requirements—part-time or full-time—skills needed for employees and the costs.

This section outlines the legal structure of your business. It may only be a single sentence if your business is a sole proprietorship. If your business is a partnership or a corporation, it can be longer. You want to be sure you explain who holds what percentage of ownership in the company.

The internal management section should describe the business management categories relevant to your business, identify who will have responsibility for each category, and then include a short profile highlighting each person's skills.

The primary business categories of sales, marketing , administration, and production usually work for many small businesses. If your business has employees, you will also need a human resources section. You may also find that your company needs additional management categories to fit your unique circumstances.

It's not necessary to have a different person in charge of each category; some key management people often fill more than one role. Identify the key managers in your business and explain what functions and experience each team member will serve. You may wish to present this as an organizational chart in your business plan, although the list format is also appropriate.

Along with this section, you should include the complete resumés of each management team member (including your own). Follow this with an explanation of how each member will be compensated and their benefits package, and describe any profit-sharing plans that may apply.

If there are any contracts that relate directly to your management team members, such as work contracts or non-competition agreements, you should include them in an Appendix to your business plan.

While external management resources are often overlooked when writing a business plan , using these resources effectively can make the difference between the success or failure of your managers. Think of these external resources as your internal management team's backup. They give your business credibility and an additional pool of expertise.

Advisory Board

An Advisory Board can increase consumer and investor confidence, attract talented employees by showing a commitment to company growth and bring a diversity of contributions. If you choose to have an Advisory Board , list all the board members in this section, and include a bio and all relevant specializations. If you choose your board members carefully, the group can compensate for the niche forms of expertise that your internal managers lack.

When selecting your board members, look for people who are genuinely interested in seeing your business do well and have the patience and time to provide sound advice.

Recently retired executives or managers, other successful entrepreneurs, and/or vendors would be good choices for an Advisory Board.

Professional Services

Professional Services should also be highlighted in the external management resources section. Describe all the external professional advisors that your business will use, such as accountants, bankers, lawyers, IT consultants, business consultants, and/or business coaches. These professionals provide a web of advice and support outside your internal management team that can be invaluable in making management decisions and your new business a success .

The last point you should address in the management section of your business plan is your human resources needs. The trick to writing about human resources is to be specific. To simply write, "We'll need more people once we get up and running," isn't sufficient. Follow this list:

• Detail how many employees your business will need at each stage and what they will cost.
• Describe exactly how your business's human resources needs can be met. Will it be best to have employees, or should you operate with contract workers or freelancers ? Do you need full-time or part-time staff or a mix of both?
• Outline your staffing requirements, including a description of the specific skills that the people working for you will need to possess.
• Calculate your labor costs. Decide the number of employees you will need and how many customers each employee can serve. For example, if it takes one employee to serve 150 customers, and you forecast 1,500 customers in your first year, your business will need 10 employees.
• Determine how much each employee will receive and total the salary cost for all your employees.
• Add to this the cost of  Workers' Compensation Insurance  (mandatory for most businesses) and the cost of any other employee benefits, such as company-sponsored medical and dental plans.

After you've listed the points above, describe how you will find the staff your business needs and how you will train them. Your description of staff recruitment should explain whether or not sufficient local labor is available and how you will recruit staff.

When you're writing about staff training, you'll want to include as many specifics as possible. What specific training will your staff undergo? What ongoing training opportunities will you provide your employees?

Even if the plan for your business is to start as a sole proprietorship, you should include a section on potential human resources demands as a way to demonstrate that you've thought about the staffing your business may require as it grows.

Business plans are about the future and the hypothetical challenges and successes that await. It's worth visualizing and documenting the details of your business so that the materials and network around your dream can begin to take shape.

What is the management section of a business plan?

The 'management section' describes your management team, staff, resources, and how your business ownership is structured.

What are the 5 sections of a business plan?

A business plan provides a road map showing your company's goals and how you'll achieve them. The five sections of a business plan are as follows:

• The  market analysis  outlines the demand for your product or service.
• The  competitive analysis  section shows your competition's strengths and weaknesses and your strategy for gaining market share.
• The management plan outlines your ownership structure, the management team, and staffing requirements.
• The  operating plan  details your business location and the facilities, equipment, and supplies needed to operate.
• The  financial plan  shows the map to financial success and the sources of funding, such as bank loans or investors.

SCORE. " Why Small Businesses Should Consider Workers’ Comp Insurance ."

How to Write a Business Plan Executive Summary

• Written By Dave Lavinsky

What is the Executive Summary?

A business plan executive summary is a short overview of your business plan for investors who are interested in learning more about your startup or existing business. It should be concise, engaging, and informative.

What is the Purpose of the Business Plan Executive Summary?

The purpose of an executive summary is to give potential investors insight into your goals and intentions as well as an understanding of the specifics surrounding your business. It includes all the information the reader needs to know in order to make an investment decision.

The executive summary is the first thing that your audience will read to get an idea about what your business is all about. You can make it easy for them by providing a concise explanation of what your business does, why it’s needed, how you plan on making money from it, and what customers you’re targeting. This means that the document needs to cover all these important points while being brief enough to not scare away readers who might want more information about your business venture.

How Long Should a Business Plan Executive Summary Be?

The executive summary for a business plan should generally be between one and three pages long; more than that may appear excessive to the reader, while less may not provide enough information to convince an investor to provide funding for your company.

Steps to Writing an Executive Summary

• Write the Executive Summary Last . Once you’ve completed writing your entire business plan, you’ll have learned the key points which set your business apart and which should convince readers to join you.
• Make a List of the Most Important Points . Write a sentence or bullet point for each argument you want to include in the executive summary. Include all the things you want to cover in your summary, including market research and analysis, management team, financial information, product development plans, and projected growth plans. You can also use headers to keep your thoughts organized.
• Describe Your Company’s Unique Background . Potential investors will want to know what makes you qualified to execute on your ideas, so here’s where you elaborate on all of your experience and insight into the business world. Include any other projects that your team members have been successful with in the past along with information regarding why you’re qualified to achieve the business’ goals.
• Identify Your Product or Service . You need to provide a description that gives potential investors a clear image of what you’re offering whether it’s something tangible, like a product, or something intangible, like software or a service.
• Explain the Benefits of Your Product or Service . This is a key part of your executive summary. Here you need to identify why your product or service is better than other options and how it appeals to your target audience.
• Address Issues or Concerns Head On . Your potential investors are going to want to know if there are any risks involved with working with their company so they can decide if they want to take them on. Here you need to talk about the problems that may arise from implementing your plan and how they can be addressed if or when they happen.
• Describe Your Management Team . Document the qualifications of your team and how your team has the experience and expertise to make your company a success.

Tips for a Great Executive Summary

Make it short but informative. If you can summarize the key points in just one page, do it. If you need up to 3 pages to detail the key information, that’s ok too.

Investors invest in people more than ideas. The most successful business plan summaries highlight the founders’ passion and enthusiasm for their project as well as their background and achievements. Investors want to know about the team members involved in the venture – who are they? Why do they matter? Who is managing whom? How experienced are the entrepreneurs?

Explain exactly what your product or service does. This includes how it will benefit customers and why there’s a need for it. You should also show how your business is different and why you’re better than the competition.

Make sure you proofread everything. It all comes down to attention to detail, so make sure there are no spelling mistakes or grammatical errors before you distribute the document. Not only will this make it look professional, but it’ll also show potential investors that you respect their time and don’t plan on wasting it by making careless mistakes during your business endeavors.

Business Plan Executive Summary Example

The executive summary is a brief overview of your business that serves as the first thing an investor will read when they consider investing in your business. It should be concise and informative without sounding like a marketing brochure. It includes all the information needed for them to make their decision about whether or not they want to invest in your business venture.

Below is an example of an executive summary:

Hosmer Sunglasses Executive Summary

Company & concept.

Hosmer Sunglasses (hereinafter referred to as “Hosmer” or “the Company”), is a California-based sunglass manufacturer offering the most cutting-edge sunglass frames in the world today. Along with a chic appearance, DNS frames have a unique characteristic that satisfies sport enthusiast consumers – silicon hinges. These hinges are exceptionally flexible and can be bent from a 90-degree angle to a 180-degree angle without breaking. This characteristic results in an intricate blend of comfort and durability heretofore unseen in the sunglass industry.

The Hosmer brand is poised for success in the U.S., and throughout North America, because it is a proven, unique product with meaningful consumer benefits. Consider the following:

• The Hosmer brand is currently distributed in France, Germany, Belgium, Spain, and England, where over the past two years, over 1 million pairs have been sold per year.
• The brand’s success in fashion-conscious France and western Europe should translate well to fashion-conscious Americans.
• Hosmer’s hinge differentiates the brand from every other sunglass company. It is a unique product difference that provides consumers with both fashion and performance, two key consumer needs.
• Hosmer recently launched U.S. operations and has already sold Hosmer sunglasses through nearly 15 retailers in four western states, and has established endorsements with over 20 sports celebrities.

Hosmer has a solid foundation from which to grow, great products with unique features, a superb management team, and an ideal climate to break into the $2.9 billion U.S. sunglass industry.

Industry Analysis

According to the Sunglass Association of America, retail sales of plano (non-prescription) sunglasses, clip-on sunglasses, and children’s sunglasses (hereinafter collectively referred to as “sunwear”) totaled $2.9 billion last year. Premium-priced sunglasses are driving the plano sunwear market. Plano sunglasses priced at $100 or more accounted for more than 49% of all sunwear sales among independent retail locations last year.

The Sunglass Association of America has projected that the dollar volume for retail sales of plano sunwear will grow 1.7% next year. Plano sunglass vendors are also bullish about sales in this year and beyond as a result of the growth of technology, particularly the growth of laser surgery and e-commerce.

Customers and Competition

Buyers of premium sports sunglasses are typically males aged 15-35 who participate in non-traditional outdoor sports referred to as “extreme sports” — i.e., skateboarding, snowboarding, surfing, mountain bike riding, and motorcycling. They also include participants of certain traditional sports, including skiing, volleyball, and golf.

Customer ratings show that a key need of extreme sports participants with regards to sunglasses is durability. While many participants are satisfied with the looks of sunglasses by manufacturers such as Oakley, they vigorously complain that such glasses tend to break easily. Since sunglasses are most prone to break at the hinge, and since Hosmer sunglasses have silicon hinges, they are unlikely to break. And, although several companies market premium sports sunglasses to this customer base, none manufactures sunglasses with silicon hinges or with the superior quality of DNS frames.

Within the premium sunglass market, it is projected that Hosmer’s primary competitors will be Smith, Dragon, Arnette (owned by Luxottica Group), Spy, Black Flys, Oakley, and Bolle.

Marketing Plan

Hosmer’s initial target market is males aged 15-35 who participate in the extreme and traditional sports noted above. This group consists primarily of “early adopters” who are most likely to be attracted to the unique Hosmer brand. Penetrating this segment will build a “buzz” around the brand, which will cause other customer groups to purchase the product soon thereafter.

Hosmer will initially offer the 8 DNS frames that have hinges. These frames will be available in a variety of colors and lens types, resulting in a selection of approximately 50 different SKUs. Hosmer controls the lenses it installs in the DNS frames. Currently, the Company uses Paletz Sulter lenses and is considering a switch to Sola lenses for some or all its frames. Both Paletz Sulter and Sola are top-notch brands, either of which would protect Hosmer wearers from the well-documented perils of excessive exposure to sunlight. By virtue of the superior design and quality of both its frames and lenses, Hosmer’s sunglasses command a premium price of $90 to $130.

Distribution will be developed through a network of representatives. At the outset, Hosmer will utilize the following outlets for distribution of the Hosmer brand: (1) independent sporting goods specialty stores; (2) sporting goods retail chains; (3) sunglass specialty stores; (4) specialty/trendy stores; and (5) optical retailers.

Hosmer has developed a comprehensive promotions strategy. It will market to retailers through advertisements in trade journals and trade show exhibitions, in addition to direct sales from representatives. Consumers will be targeted via grassroots marketing campaigns including attending and sponsoring various surfing events, biking events, and skateboard tournaments and exhibitions. The company will also advertise in the print and cable media that is most popular among the target audience. Hosmer will also continue to recruit celebrity endorsers and create strategic alliances. Dozens of professional and amateur athletes already wear the Hosmer brand. Finally, Hosmer is developing a comprehensive website that educates consumers about the Company and its products.

Management Team

The Company has not only assembled a top-notch management team but one with extremely strong marketing backgrounds. The team includes:

• Jane Smith , President, whose experience includes…
• Bob Smith , Vice President of Sales & Marketing, whose experience includes…
• Jen Smith , Sales Manager, whose experience includes…
• Mike Smith , Manager of Endorsements, whose experience includes…

Financial Plan

The average pair of Hosmer sunglasses wholesales for $55.39 and costs Hosmer approximately $15 landed (after shipping, etc.). The result is substantial gross margins of 72.9%. The Company expects sales and profitability over the next five years to be as follows:

Year 1 losses result from the substantial infrastructure (e.g., staffing, general and administrative expenses, etc.) and marketing expenditures needed to promote the Hosmer brand. The long-term increase of sales due to these efforts yield a nearly break-even Year 2, and increasing sales and net income thereafter.

Hosmer currently seeks $5 million, primarily for infrastructure, marketing, inventory, and working capital needs. The Company’s exit strategy is the most likely strategic acquisition or sales of distribution rights in the U.S. and/or other regions.

How PlanBuildr Can Help

If you need help writing an executive summary, our business plan writers are here to help. We’ve worked with 1,000+ entrepreneurs, business owners, and executives to help them craft a successful business plan including an executive summary to grab an investor’s attention from the very beginning.

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How to Write an Executive Summary for a Business Plan

Back to Business Plans

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on February 27, 2023 Updated on December 12, 2023

Launching a business involves countless tasks, but a crucial early hurdle is writing a business plan . Many entrepreneurs who aren’t looking for funding think they can skip this step, but that’s never a good idea . 

A sharp business plan is essentially a business owner’s commitment to and preparation for the road ahead, and the executive summary might be the most important part. Investors and lenders usually only read the executive summary, unless it succeeds in grabbing their interest. 

Thus, if you’re looking for financing, an excellent executive summary is absolutely essential. But even if you’re not, writing a strong executive summary can help gather your thoughts and lessons learned. Lucky for you, this guide shows you just how to do it. 

• What is an Executive Summary?

The executive summary opens your business plan, but it’s the section you’ll write last. It summarizes the key points and highlights the most important aspects of your plan. 

Again, often investors and lenders will only read the executive summary; if it doesn’t capture their interest they’ll stop reading, so it must be as compelling as possible, even at two pages or less. 

• What to Include in the Executive Summary

Several key points should be included in the executive summary.

1. The Business Opportunity

What problem are you solving in the market and for whom? Write a few sentences about the opportunity and your target market . This should be at the top of your executive summary after a very brief introduction of your concept and vision. 

2. The Business Idea and Model

Provide specific information about your product or service, how it solves a market problem, and how you’ll sell it. Will it be one-time sales or a subscription? Focus on your product or service as a solution, discussing how it solves the problem and why it’s better than other solutions. 

3. Company History

What have you done to this point? When you’re just getting started, this may be nothing more than coming up with the idea, choosing a business name , and forming a business entity. Highlight milestones you’ve achieved. 

4. Market Summary

Discuss the state of the industry, market size, and projected growth. Include data points with links to sources. Also, touch upon why you chose your target market and the competitive landscape of your market. Don’t go into too much detail, just mention the most intriguing elements.

5. Competitive Advantage

Write a strong statement about how your company is going to stand out in the market – why will customers choose your product over those of competitors? This is extremely important to investors, so take your time on this one after you’ve done your full competitive analysis . 

6. Objectives

Write a short list of specific goals that you plan to achieve in the short term, such as developing your product, launching a marketing campaign, or hiring a key person. 

7. Management team

Provide a summary of your management team, their roles, and the relevant experience that they have to serve in those roles. Don’t be overly self-promotional here; just state the facts in a positive way. 

8. Financial Highlights

Provide a summary of your financial plan including revenue and profit projections (best in bullet form) for at least three years and a break-even analysis in a simple chart form. If you’ve already made some sales, include your revenue numbers.

9. The “Ask”

Your “ask”, if applicable, is what you’re requesting from the investor or lender. You’ll include the amount you’d like and how it will be spent, such as “We are seeking $50,000 in seed funding to develop our beta product”.  

It’s best not to specify the terms of funding you’re requesting, such as stating an equity offer. That will be a matter of negotiation.

10. Other Compelling Points

If there are any other points from your business plan that illustrate how your business will be unique and successful, be sure to include those as well. The executive summary should be as persuasive as possible. 

If you finish your executive summary and it’s more than two pages long, cut it down. Investors and lenders aren’t looking for a long read; they want you to get to the point and to be “wowed” by your vision. That will persuade them to dig into your full plan. 

So take all the time you need to write an excellent summary, then have somebody you trust review it to make sure it delivers. The future of your business could depend on it.

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How To Write A Basic Business Plan

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Creating a successful business starts with a strong plan. Regardless of your experience level, learning how to write a basic business plan is essential to mapping out your company's path to success. With a clearly defined plan, you can identify potential challenges, set goals, and create a roadmap for growth.

Business plans can be incredibly beneficial for entrepreneurs in any stage of their business venture. Whether you're just starting out or seeking funding to expand, a well-crafted business plan can serve as a roadmap for success. Not only does it provide direction for your business, but it can also help you identify potential roadblocks, set realistic goals, and track your progress over time.

A well-written business plan can help potential investors or lenders understand your business model , mission, and strategies, making it easier for them to provide the resources you need to grow your business. So, if you're looking for a tool to help ensure your business's success, consider crafting a comprehensive and engaging business plan.

Your business plan doesn't become obsolete once your business is up and running. In fact, your business plan can continue to guide your decision-making even after your doors are open. Your plan serves as a blueprint for success and can remind you of your original goals and objectives.

By referring back to your business plan, you can ensure that your decisions align with your overall mission and vision for your company. With a solid business plan in place, you can keep your business on track and ensure that you continue to achieve your goals as your business grows and evolves.

Best High-Yield Savings Accounts Of 2024

Best 5% interest savings accounts of 2024, business plan basics.

At its core, a business plan is a written description of your company's future. It outlines what you plan to do and how you plan to do it.

Here is what you typically find in a basic business plan:

1. Executive Summary

A snapshot of your business plan as a whole, touching on your company’s profile, mission, and the main points of your plan. Think of it as an elevator pitch that presents your company's profile and core mission in a concise yet engaging manner.

2. Company Description

A more detailed look at your business goals, and what sets it apart in the marketplace. It is imperative to stand out from the competition to succeed, so list your differentiators and how you add value.

3. Market Analysis

It involves delving into your industry, identifying potential customers, and analyzing your competition to develop a strong understanding of the market. By garnering this knowledge, you can tailor your marketing and sales strategies to better meet the needs of your target audience.

4. Organization and Management

Your business's legal structure, organizational structure, and product or service life cycle. By keeping a close eye on your organization and management, you can ensure that your business is positioned for success in the long term.

5. Marketing and Sales Strategy

How you plan to attract and retain customers. It's not enough to simply offer a great product or service, you need to be able to effectively communicate your value proposition to your target audience.

6. Funding Request

If you are seeking funding, how much you need and what it will be used for. Securing funding can be a crucial component to kickstarting your business ventures.

7. Financial Projections

Projecting your profits, losses, and cash flow helps you plan in advance and make informed decisions. By crunching the numbers and analyzing past data, you can estimate future earnings and get a better understanding of your company's financial health.

8. Appendix

This is where you can include any additional information, such as resumes, permits, leases, and other legal documentation.

The bottom line is that a well-crafted business plan not only provides direction and structure but also helps you articulate your vision and goals. With a clear understanding of your target audience, competition, and financial projections, you're better equipped to make informed decisions and navigate the complexities of running a business. Ultimately, a business plan is an investment in your success, and it's essential for building a viable business.

Melissa Houston, CPA is the author of Cash Confident: An Entrepreneur’s Guide to Creating a Profitable Business . She is the founder of She Means Profit, which is a podcast and blog . As a Finance Strategist for small business owners, Melissa helps successful business owners increase their profit margins so that they keep more money in their pocket and increase their net worth.

The opinions expressed in this article are not intended to replace any professional or expert accounting and/or tax advice whatsoever.

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How to write a business plan (with examples)

By The IFTTT Team

June 13, 2023

So, you've decided to start a new business, or maybe next your company up to the next level. Either way, if you want to make it to the big leagues, it's a good idea to draft up a plan.

In this article, we will go over the useful process that is building up a traditional business plan. With a business plan, entrepreneurs unlock a whole variety of benefits, such as a better understanding of what steps to take toward success.

Also in this article, readers can view examples of well-thought-out business plans and marketing strategy, that led to some of the world's biggest companies today.

Lastly, we will go over our picks for the best services to help your new business get off the ground, and how IFTTT can help streamline your business today, no matter how small.

Should I make a business plan?

The first step in determining whether or not to create a business plan for your product or service is to assess the stage of your business idea.

If you are in the early stages of ideation, having a clear understanding of your target market, competition, and business model is essential. A business plan can help you organize your thoughts, identify gaps in your knowledge, and develop a roadmap for success.

Some might argue that there are some people who are already past the point of needing a business plan. Why would Elon Musk or Jeff Bezos need a business plan, if they are already so wealthy and accomplished?

Surprisingly, these two billionaires and many more pay entire teams of people to constantly create business plans to grow and network their companies.

Regardless of the stage of your product/company, having a well-written business plan can be incredibly helpful in setting yourself up for success.

Even those who don't own a business yet can follow the business plan model to better outline a hobby or project. Knowing how to outline your work and goals can be incredibly helpful for students, freelancers, or anyone who is looking to increase their productivity.

Is business planning hard?

Business planning can be perceived as hard due to the various aspects and details involved in the process. However, it is a crucial step in establishing a strong foundation for your business and setting it up for success.

A comprehensive business plan requires considering multiple aspects such as market research, competitive analysis, financial projections, marketing strategies, and operations. Ensuring all these components align with your overall goals can be challenging.

Predicting the future always involves some level of uncertainty. Making assumptions about market trends, customer behavior, and other factors can be difficult, and plans may need adjustments over time.

Developing a detailed business plan takes time and effort. Business planning often demands a diverse range of skills, including strategic thinking, financial analysis, market research, and effective communication. If you lack experience in these areas, the process may seem more challenging.

Benefits of a business plan outline

Without a doubt, one of the most effective ways to develop a business plan is to use a business plan outline.

Painters often say that the hardest part of a painting is putting down the first stroke on an empty canvas. The same is true with starting a business. When given a starting point, such as an online outline, it becomes easier to get the creative juices flowing and start jotting down some ideas.

Here are some of the main benefits of using a business plan outline:

Organization and structure: A business plan outline provides a clear framework for organizing your thoughts, ideas, and research, ensuring that all essential elements are covered and presented logically.

Efficiency: By following an outline, you can save time and effort by focusing on the most critical aspects of your business plan. It helps you avoid getting sidetracked or spending too much time on less important details.

Consistency and clarity: Using an outline can help you maintain consistency in your writing style, tone, and formatting throughout the document. This results in a clearer and more professional presentation of your ideas, which is particularly important when sharing your plan with investors or other stakeholders.

Easier review and editing: With a well-structured outline, it becomes easier to review, edit, and update your business plan as needed. You can quickly identify areas that require additional information or revisions, ensuring your plan remains accurate and relevant over time.

Why some choose to not use a business plan outline

Business plan outlines are amazing for those who are first-timers in the planning process. However, some entrepreneurs may prefer a more flexible and organic approach to business planning.

They might feel that following a strict outline constrains their creativity or ability to adapt the plan as new ideas or market conditions emerge.

Business plan outlines can seem complex and intimidating, especially for first-time entrepreneurs. This perception may discourage some from using an outline, even though it can ultimately simplify and streamline the planning process.

Hopefully, you will be convinced of the effectiveness of a business plan in the next paragraph, where we will go over how easy it truly is to formulate your first business plan.

How to use a business plan outline

A business plan outline serves as a framework to guide you through the process of creating a comprehensive and well-structured plan. Here's a suggested outline for a typical business plan:

Executive Summary

Include the following:

• Mission statement
• Company overview (brief)
• Product or service description (brief)
• Market Opportunity
• Objectives and goals
• Financial highlights

Company Description

• Legal structure (sole proprietorship, partnership, corporation, etc.)
• Company history
• Vision and mission statements
• Management team and key personnel
• Location and facilities

Market Analysis

• Industry analysis
• Market size and trends
• Growth potential
• Target market segment
• Demographics
• Needs and preferences
• Market segment size
• Market challenges and opportunities

Competitive Analysis

• Direct competitors (list and analyze)
• Indirect competitors (list and analyze)
• Competitive advantages and disadvantages
• Barriers to entry and exit

Marketing and Sales Strategy

• Product or service positioning
• Pricing strategy
• Distribution channels
• Promotion and advertising strategy
• Sales process and strategy

Product or Service Line

• Detailed product or service description
• Features and benefits
• Unique selling points or intellectual property
• Future development plans (if applicable)

Operations and Management

• Operational processes and workflow
• Supply chain management
• Production methods and facilities
• Quality control measures
• Staffing requirements and training
• Administrative processes

Financial Projections

• Projected income statement (3-5 years)
• Projected cash flow statements (3-5 years)
• Projected balance sheet (3-5 years)
• Break-even analysis
• Financial assumptions and justifications

Appendices and Supporting Documents

• Resumes of key management team members
• Market research data
• Financial statements (if applicable)
• Legal documents (e.g., contracts, agreements, licenses)
• Any other relevant information

Remember, this outline is a starting point and can be adapted to suit your specific business needs. The most important aspect is to ensure that your plan covers all the essential topics and provides a clear and comprehensive picture of your business's goals, strategies, and financial expectations.

Successful business plan examples

It's also helpful to look at successful business plan examples to get a better sense of what and how to present your own.

Apple's executive summary

Apple, which is now one of the world's biggest corporations, developed an excellent executive summary for their 2016 stock report, compliments of Rutger's Business School;

"Apple Inc is one of the most iconic companies of the recent decade. Apple has not only been developing and selling great products. More importantly the company has been building an incredible platform and an ecosystem for its loyal users within which it could further sell apps and services."

"The company is not immune to general market trends and some of the product sales are slowing down either due to markets maturing (e.g. smartphones) or due to a general industry decline (e.g. music players and computers)."

"Apple has a formidable competition within well established and well financed companies such as Alphabet, Samsung, Amazon, HP as well as newcomers from China like Huawei and Xiaomi.

"Despite strong competition the company managed to grow and thrive within its industries and enjoys one of the best balance sheets and financial metrics among its peers."

Verizon's competition section

Verizon, a massive mobile service and wifi provider across the United States, is often analyzed by financial experts to provide insight into stock prices. A student presented an excellent paragraph about its competition to the Minnesota State University in 2018;

"Verizon’s main three competitors are AT&T, T-Mobile US, Inc., and Sprint Corporation. One of Verizon’s competitive advantages is their high service quality which enhances brand image."

"Also, they have strong growth strategies which has shaped their overall approach to grow their business. To attract and retain customers, Verizon focuses on quality and differentiation. Verizon’s generic strategy is differentiating from its competitors."

Automating your business with IFTTT

Our automation platform IFTTT (If This Then That) is a great way for entrepreneurs to develop and promote their businesses in the digital world.

IFTTT works by connecting multiple platforms and services through APIs (Application Programming Interfaces). Users can create Applets by defining a specific trigger (the "If This" part) and an action (the "Then That" part). When the trigger occurs, IFTTT automatically performs the specified action.

IFTTT has been used by entrepreneurs to automate common tasks and create systems that help them stay organized or streamline processes. For example, with IFTTT you can create an applet that automatically posts new blog content on social media or sends a notification when an important email arrives.

You can also use IFTTT to create integrations between different services, such as linking your customer database with your website and setting up automated tasks that are triggered based on user actions. This helps you save time and energy so that you can focus on other aspects of your business.

Our favorite business growth automations

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How to Write a Bar Business Plan + Free Sample Plan PDF

Elon Glucklich

6 min. read

Updated March 17, 2024

Free Downloads: Sample Bar and Brewery Business Plan Templates

From sports bars to neighborhood pubs to upscale cocktail bars—drinking establishments are one of the oldest and most enduring types of businesses.

And the industry is projected to grow nearly 2.5% between 2023 and 2030, leaving plenty of opportunity for new businesses..

But competition in the bar industry can be fierce. You need to know your clientele, competitors, and how you’ll stand out if you want to succeed. Not to mention mapping out all the details of your financials and operations. 

Luckily, you can cover all of that (and more) by writing a business plan.

• What should you include in a bar business plan?

These are the typical sections to consider including in your bar business plan.

• Executive Summary
• Market Analysis
• Marketing and Sales Strategy 
• Operations Plan
• Business Overview

Financial plan

The sections you need will vary depending on why you’re writing a business plan and what you intend to do with it . 

Suppose it’s to manage your operations and not something you expect anyone outside of the business to read. In that case, consider keeping it to a few pages and skipping sections like the executive summary.

If you’re applying for a loan, then you’ll need a more formal plan that includes all the sections listed above.

Check out our step-by-step guide to writing a full business plan for more details.

• The 6 elements of an effective bar business plan

Executive summary

Your executive summary is a short, high-level overview of your entire plan. 

The summary should give readers a sense of what factors will make your bar successful. That could include securing a high-visibility location, partnering with a chef who will oversee meal preparation, or negotiating deals with brewers to get their beers in your bar.

If you’re seeking a bank loan for your bar, the lender will read your executive summary first. In all likelihood, they won’t read any further unless the executive summary grabs their attention. 

So, make it clear and convincing.

Market analysis

The market analysis may be the most important part of your entire business plan. 

It’s where you carefully research and document:

• Who your target customers are
• What they want
• What other establishments they may consider

Start by identifying the size of your market . Focus on the number of potential customers above the legal drinking age in your area. Then, segment these customers based on demographics such as age, income level, and lifestyle preferences. 

Then look into who you will be competing with. List and research other bars as well as indirect competition from restaurants, clubs, and even grocery stores that sell beer or home entertainment options.

Here are a few examples of what this process will look like:

Bar customer segmentation

If you find there are a lot of college students and younger adults near your bar location, you should cater your offerings to their tastes. But if you’re near office buildings or event venues, you may want to focus on older customers with more disposable income.

Will you offer a more diverse drink menu, better food, or a unique theme? Explain how these factors will set your bar apart and attract customers. Or, if your area lacks a certain type of bar, such as a sports bar or a high-end cocktail lounge, describe how filling this gap in the market will serve as your competitive advantage.

Marketing and sales strategy

Your market analysis gives you insights into potential customers. Your marketing and sales strategy is where you use those insights to get those customers in your door.

As you looked around at your competitive landscape, maybe you gained some insight into how your ideal customers discover new bars — through social media, online reviews, local event listings, or word-of-mouth.

Start by developing marketing strategies that are tailored to those channels . Consider tactics like:

• Creating engaging social media content showcasing your unique drinks, events and ambiance.
• Partnering with local businesses or events to increase visibility.
• Introducing special promotions to encourage repeat visits and attract new customers.
• Hosting themed nights or events to create buzz and attract specific customer segments.

In your business plan, document how you will implement these efforts and the resources required. 

Operations plan

The operations section of your business plan is where you detail the day-to-day requirements for running the bar smoothly. Start by describing your physical space and key equipment, such as:

• Beverage dispensing systems
• Glassware and utensils

Specify the types and number of each that you’ll need. Then you can address staffing needs, describing the roles of bartenders, servers, and support staff. Document in your plan that you’ll have a staffing strategy to cover peak hours.

You should also cover inventory management. Describe how you’ll stock alcoholic and non-alcoholic beverages, ingredients for cocktails and food. Be sure to spend time discussing supply chains for sourcing these ingredients.

Document the types of technology you’re using, like point-of-sale systems, inventory tracking, or customer reservation platforms. 

Finally, ensure that your operations plan demonstrates how you will comply with any licensing, health and safety regulations and that you have a plan for ensuring responsible customer behavior.

Business overview

The overview should fill in any gaps the reader may have, including:

• The name of your bar
• When it was founded (if it’s an existing business)
• The inspiration behind the business

You should include the background and qualifications of key team members here. Include their experience in the bar industry and any other experience that’s relevant to their position.

If you’re running an existing bar, discuss previous achievements like revenue milestones, recognitions, or community events you’ve hosted.

You don’t need a deep financial background to run a successful business. But it’s important to develop projections for how you expect the bar to perform. If you’re starting a new bar, consider that you’ll need to pay upfront costs like equipment, supplies, licenses and rent.

Then there are the ongoing costs like employee salaries, marketing, and continuing to keep your shelves stocked.

Making educated guesses about the future will help you determine what’s working, and where you should make adjustments as you run your business.

Include sales and expense forecasts in your plan. The financial section also should include a cash flow statement , income statement , and balance sheet .

Remember, no one knows exactly how the future will pan out — these projections are your baseline for how you think the business will do, and you’ll adjust them over time as you update your plan with actual results.

• Bar business plan templates and examples

To see how other bar businesses have created their plans, browse our free library of bar and brewery business plans . You can also check out our full selection of food and beverage business plans , or our entire library of over 550 business plans across industries.

Download as many as you want in PDF or Word format to help you write your own business plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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How To Write a Business Plan For a Loan | Money

G etting the funds you need is a critical step for any new business . Many startups rely on business loans to get off the ground, but securing that loan hinges on a strong business plan . This plan acts as a roadmap for your small business by outlining your goals, strategies and financial projections . It convinces lenders of your viability and increases your chances of getting approved.

While writing a business plan might seem intimidating, understanding its key components and how lenders evaluate them can empower entrepreneurs to create a persuasive document. Here’s what you need to know.

Do you need a business plan to get a loan?

Absolutely. A business plan is essentially a detailed loan proposal. It addresses the questions lenders have about your business, showcasing its potential and your preparedness. It demonstrates the time and effort you’ve invested in planning and research, building confidence in your venture.

If you want to borrow money to fund your company, then, you need a business plan that’s detailed and requires a plethora of information. It tells the lender the business type, target market, strategies and more. It also reveals how you plan to make money, your projected expenses and expected revenues. Before taking on this challenging task, you must learn how to write a business plan .

Key elements of loan-focused business plan

Creating a business plan for a loan takes time, thought and effort. And it needs to contain the following components:

Executive summary

Even though the executive summary is the first paragraph in a business plan , it’s the last section you should write. The executive summary summarizes the main points of your plan and tells the lender why it should invest in your business idea . It’s a snapshot of your business’s highlights and states how much money you want to borrow.

You can choose a business plan template for loan requests to simplify the plan’s writing process instead of starting from scratch. Many templates suggest including your mission statement in the executive summary . The core goal of this initial section is to spark the lender ‘s interest in your company. If you can do that, the lender will continue reading it.

Company description

This section tells the lender your business type and the industry it’s in. It allows business owners to highlight their previous work, jobs and skills to demonstrate experience in the field. It states where your business will operate and who will run the company.

This section also provides the ideal opportunity to explain your commitment to the startup . Be as transparent and detailed as possible when describing this new endeavor. The number one goal of this section is for the lender to fully understand what your business does. Describing the business model you plan to use is also helpful, along with the growth plan you propose if you are successful.

Products or services

Every business sells products, services or a combination of both. Selling something — whether it be a product or a service — is how a business generates revenue. Start by describing in detail what your business will sell. Next, highlight the features that set your products and services apart from those of your competitors. List the patents or copyrights of your goods, if applicable, and list the things your business needs to operate. For example, you might need a building from which to operate or equipment to produce products.

Market analysis

Creating a business that offers a unique product or service is nearly impossible today. As a result, your business will likely compete with other businesses. You must address this by presenting a competitive analysis of your venture’s business goals and how it will stand out from others in the field.

What other local businesses have similar products or services? How do you plan to attract some of this market? Do you own relevant intellectual property that may help you to achieve success?

Include the results of your market research in the market analysis section of your business plan . You might include some details about your target customers, such as their demographics, and your planned pricing . Finally, include a brief synopsis of your marketing plan in this section..

Competitor analysis

Lenders want to know if your business will succeed before they approve your loan proposal. Therefore, they want to know that you’ve thoroughly researched your competition. You can list your competitors in this section, including their products and services, and what you see as your competitive advantages over them.

Next , give a more detailed analysis of what differentiates your services and products from theirs. What is unique about your company? What advantages will your company have over its competitors? Keep in mind that lenders base loan decisions on risk levels. If the lender can’t see the need for your business’s products, they might turn down the loan. The goal of this section is to convince the lender that there is a demand for your company’s products and services..

Marketing plan

Next , include specific details about your marketing strategy , including financial plans . How much money will you spend on marketing efforts? What methods will you use? How do you know they’ll be effective? Marketing is a massive part of a business strategy, so your plan must answer these questions.

Operational plan

The operational plan explains how you’ll execute your business startup to the lender . It reveals more details about your company’s location, its target market and the equipment and software you’ll use. Additionally, it explains the processes you’ll use to produce or sell your goods.

Management structure

A business plan must also list your management team . You might be the sole owner of the business, but will you work alone? If not, who will work for you?

Not only should you list colleagues’ names, but you should also describe each person’s experience, skills and qualifications. Additionally, explain staffers’ roles, duties and responsibilities and the hierarchy of the management structure.

Funding request

The purpose of writing a business plan is to request a loan. Therefore, you must include your funding requirements in the business plan . How much money do you want to borrow? How will you spend it? You should explain in detail how you will spend the funds, as this validates your need for the loan. The lender can see if you have a clear plan and if the plan makes sense.

Financial projections

This next section outlines your company’s projected profitability, which is vital for repaying the money you borrow. Lenders spend a lot of time reading through the financial parts of a funding request .

When writing this section, begin by stating your projected annual revenues for the next three to five years. Next , include income statements to highlight your company’s potential net profits. You can also include forecasted balance sheets , which help the lender see your assets, liabilities and capital. Graphs and other elements can be useful in this section.

Be sure to cover how business financing will allow your plan to flourish. Including a break-even report is helpful. This metric reveals how much you must sell to cover your expenses. For a lender , it reveals safety margins, helping lenders assess risk levels.

This section offers a place to add supporting documents to the plan. It should contain a list of your business licenses and permits needed to operate the company. You can also include your management teams ‘ resumes and a copy of your lease agreement for the space you’ll rent. Include any other documents the lender might want to see, such as contractor or business arrangements.

Many businesses hire lawyers to create their business entities. Include these legal documents if you created a business entity. If you haven’t created one yet, you should consider which type to use. An LLC is a good option, as it provides tax benefits and liability protection. You can look for the best LLC loans if you choose this route.

How lenders score your business loan application

You submit a business plan to secure funding, but a lender must approve the plan before you receive the loan. Lenders determine how to respond to business loan requests by analyzing the business plans they receive. To do this, they look at five primary things.

Your character reveals intangible qualities about you and those who will work with and for you. Lenders look for integrity and honesty and try to answer the question, “Is this person trustworthy?”

Lenders analyze your personal credit history and assess your credit score to determine your creditworthiness. In addition, lenders evaluate your job experience, reputation and qualifications. They also look at your previous endeavors to determine the risk level associated with offering you a business loan.

Lenders spend a lot of time analyzing a borrower’s ability to repay the money they borrow, and they call this capacity. Are you capable of repaying the money if they approve the loan? To determine the answer, your lender will thoroughly review your projected revenue.

Additionally, lenders analyze the forecasted financial statements , including such financial information as cash flow statements . Lenders review the products and services you’ll offer to ensure there is demand and consider your funding request and your plans for using it.

Next , the lender looks closely at your capital. They want to see how much money you have invested in the business and compare it with the amount you’re requesting.

Your investment shows your level of commitment. A large investment into your business startup shows the lender you’re serious about making it work. It also tells them you’ve researched it, worked hard on planning it and expect to make a good profit from it. Therefore, make sure your business plan clearly indicates your investment amount.

In addition to your investment, the lender wants to know what you can offer as collateral. For example, you could offer the building you’ll operate out of as collateral if you own it or have equity in it. You could also use equipment, machines or vehicles. Being willing to offer assets as collateral improves your odds of getting the loan.

Finally, lenders will look at the following conditions:

• Demand for your service: Proving a high demand for your products is critical to get a loan approved.
• Competition: Your lender will evaluate the competition and look for things that distinguish your business from your competitors.
• Trends and marketing strategies: Will there be a demand for your products in the future? If so, does your plan outline how you’ll reach more people? Lenders look at your digital marketing strategies, as this is the newer trend. It also looks at your advertising strategies, including your website, SEO strategies and inbound marketing plans.

Summary of Money’s how to write a business plan for a loan

Learning how to write a business plan for a loan is essential. Your chances of getting approved for startup funding are significantly higher with a clear, thorough and well-researched business plan. Your plan should contain a comprehensive description for each section, allowing the lender to learn as much as possible about your business endeavor. After submitting it, the lender will use the 5 Cs to analyze your loan proposal. A well-written and researched business plan is imperative for any new business startup or newly formed company that needs to borrow some cash.

© Copyright 2024 Money Group, LLC . All Rights Reserved.

This article originally appeared on Money.com and may contain affiliate links for which Money receives compensation. Opinions expressed in this article are the author's alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed. Offers may be subject to change without notice. For more information, read Money’s full disclaimer .

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How to Start an Electrician Business 

You know you’re ready to go out on your own as an electrical contractor. But do you know how to start an electrician business? 

This article will walk you through critical steps, starting with market research and a business plan. Then, you’ll learn about marketing and building customer relationships. We’ll also discuss pricing strategies and how to increase your profit margin. 

Start with Market Research for an Electrician Business 

Before you hang out a shingle for your new business, you need to make sure there is enough demand for your services in your area. That means you must conduct some market research first. 

Some things you will need to know include: 

• How many electrical contractors are already working in your area? 
• Is there a shortage of electricians in your locale? 
• What do local electricians typically charge for various services? 
• What does the client base look like, and who is hiring electricians? 
• Which niches are available where you could fill a gap in services? 

The last point is a particularly important one. Ideally, you want your business to have a unique value proposition or unique selling proposition (USP). 

Your USP is what differentiates you from your competitors. A well-defined USP gives you an edge in the market and helps you attract new customers. 

For instance, you might specialize in: 

• High-tech and smart tech for homes 
• Green and sustainable electrical solutions 
• Installing outdoor and landscape lighting 
• Security, surveillance, and fire suppression 
• Residential electric vehicle charging stations 
• Partnering with real estate agents for inspections 
• Retrofitting older buildings for new offices 
• Remodeling and renovating single-family homes 
• Repairs and installations for rental properties 
• Providing installation service for new home construction 

Generally speaking, the more populated the area you serve, the more specialized you need to be to stand out in your market. In rural areas, though, you probably need to provide a wider range of services. 

FROM ONE OF OUR PARTNERS:   How to Start a Small Electrical Contractor Business  

Write a Business Plan 

Once you’ve researched your local market and developed your USP, the next step is to draft a business plan. Your business plan serves two primary purposes: 

• It guides you as you begin and as you grow, like a roadmap. 
• It outlines your vision for the future of the business to obtain any needed funding. 

It can be challenging to secure loans from any lender. They will want to see that you have a well-developed business plan and have a good chance of success. Otherwise, you look like a financial risk. 

Notably,  18% of all small businesses  fail within one year. Half fail after five, and 65% within 10 years. Financial challenges are one of the top reasons businesses close. 

How do you write a business plan? Start with the following sections: 

Executive Summary 

This section provides a summary of your entire business plan. It should let the lender know what they’ll be seeing and establish an overall mission statement. 

Company Overview 

This section gives an overview of your business, goals, target market, and USP. Mention any experience you have in the industry going in to show an understanding of the market. 

Marketing Analysis and Strategy 

This is where you can show that you’ve done your homework. It outlines your customer demographics and how you can fill an untapped area of the market. Include your strategies for getting the word out about your new business. 

Management and Organization 

Explain how your company will be structured. Will you be a sole proprietor? An LLC? Will you have employees or hire independent contractors for each job? 

This section lists any services you plan to offer. It should also include your pricing structure. Will you be charging a flat rate or per hour? 

Financial Projections 

This is the meat and potatoes section for lenders. Include profit and loss (P&L) statements and how much revenue you need to break even. It’s recommended that you hire a certified public accountant (CPA) to help you with this section. 

If necessary, you can add an appendix for copies of any documents, like bank statements, licenses, or endorsements. 

Legal Considerations and Licensing Requirements for Electricians 

You will want to decide on a legal structure for your business, which means incorporating with your state. This step is necessary to obtain business loans and open a business bank account. 

Your CPA or a business attorney can help you with this. A lawyer can also assist you with any partnership or employment contracts. 

Electrical contracting involves a great deal of liability risk. So,  electrician licensing  is more highly regulated than other types of contracting. You will need to hold a license for your state of operation. However, some states may have reciprocity with others. 

Check with your state’s labor department on your requirements. Most licensing requires passing exams to demonstrate a deep understanding of your work. 

You will also need liability insurance for electricians. If you have employees, you may be required to carry workers’ compensation coverage, too. Bonds will likely be required to bid for municipal jobs. 

You may also elect to buy other types of insurance, such as: 

• Business umbrella insurance to increase your liability cap 
• Errors and omission insurance in case of mistakes on the job 
• Property insurance for your headquarters and/or equipment 
• Cyber insurance if you accept digital payments 
• Loss of income insurance in case you are not able to operate 

Don’t forget that your personal auto insurance doesn’t cover any business vehicles. They will need an additional commercial policy. 

The Costs of Starting an Electrician Business 

By now, you may be keeping a list of the expenses involved in starting your electrician business. Here are some of the costs you can expect to cover: 

• Accountant and legal fees for your business plan and incorporation 
• State fees for registering your business 
• Business license and certification fees 
• Commercial insurance policies 
• Buying or leasing a vehicle or fleet, if not using your own 
• Fuel to travel to job sites 
• Purchasing or financing tools and equipment 
• Bulk supplies billed to clients (wire, tape, etc.) 
• Rent or mortgage if setting up an office 
• Computer and telephone equipment, plus software and SaaS fees 
• Payroll for employees and contractors 
• Your salary as owner to cover your personal expenses 

Fortunately, the outlook is good for electrical contractors if you have a solid business plan.  Demand for electricians is up , while the number of available workers is falling short. 

The average salary for an electrician in the U.S. is  $57,558 . However, salaries are higher in some states and lower in others. 

If you’re starting your own electrician business, presumably, you’re more experienced. You call the shots when it comes to business growth. 

So, you can expect to earn at the upper end of the pay scale. That’s  $79,000 to $120,000  on average across the country. 

The key to earning more is carefully calculating your gross and net profit margins. Gross is what you bring in before the cost of goods on a job. Net is what you make after subtracting the cost of goods plus overhead. 

Overhead includes expenses like fuel, insurance, and employee wages. These are the costs you need to operate every day. 

You need to ensure you’re earning enough profit on your jobs to cover your expenses and your salary. 

The average startup business  takes two to three years  to turn a profit. Keeping your overhead lean is one way to speed that up. But you may need a loan to cover your salary for the first year or two. 

Pricing jobs properly can also help decrease your time to profitability. 

Pricing Your Electrician Business 

You will need to determine a pricing structure for your business plan. And, of course, once you start seeing clients, you will want to have this worked out. 

Your business needs to charge enough to cover your overhead, like many of the expenses listed above. And it needs to pay employees, plus cover the cost of materials. 

There are different methods you can use for billing, but they’re not equally profitable. For example, you could charge by the hour. But this can work against you in two ways. 

First, imagine that a project takes longer than expected to complete. The customer may not be happy with your fee—even if you can justify it—if it’s much more than the going rate or your initial estimate. 

Second, you might be short-changing yourself if you complete jobs quickly. That’s why it makes sense to seriously consider flat rate pricing instead. 

Flat rate or per-project pricing has several benefits. You don’t have to bother keeping track of every minute on a job. And if you finish a job quickly, you make the same amount of money regardless. That improves your profit margin. 

The only downside to flat rate pricing is running into problems on a job that slow you down. It’s important to accurately assess the project conditions when you give an estimate to account for that possibility. 

For instance, say you are running electrical wiring in a renovation of a pre-war apartment building. Those structures tend to have thick concrete floors that are hard to penetrate. You may need special drilling tools or creative solutions to work around the floors. 

This requires extra time. In this case, a flat rate price may cost you money in the end. That’s a scenario where hourly pricing may serve you better. 

Tools and Equipment for Electricians 

We mentioned above that electrical contractors need their own tools and equipment. For small jobs, you may not charge clients for little parts like connectors. But these parts add up on larger jobs, so you may want to bill for them. 

Here are some common items you can expect to lease, buy, or finance as a startup: 

• Safety gear: goggles, gloves, insulating matting, etc. 
• Measuring and diagnostic tools: multimeters, circuit analyzers, etc. 
• Hand tools: drills, hammers, pliers, crimpers, screwdrivers, etc. 
• Toolboxes or bags: to hold small equipment and supplies 
• Contracting equipment: ladders, tape measures, etc. 
• Field service management software: management software, like  Service Fusion , to help streamline office tasks 

Many startup electrician businesses forget about software to help run the business side of their operation. But field service management software can help with: 

• Fleet tracking and fuel costs 
• Dispatching and routing 
• Project scheduling and job site updates 
• Customer calls and call tracking 
• Generating quick and accurate estimates 
• Monitoring leads and sales conversions 
• Billing and invoicing for quicker payment 

RELATED ARTICLE:   3 Ways You Can Grow Your Business with Field Service Dispatch Software  

Marketing and Branding Your Electrician Business 

We mentioned your USP above. That’s part of the face your business puts forth to the world, or your “brand.” 

Your brand also includes your values, aesthetics (color palette, logo, artwork, etc.), and online presence. 

You only get one chance to make a first impression. So, you want to think carefully about marketing and branding when opening your business. 

Here are some ways you can market your company to your target audience. In doing so, you always want to be thinking about reinforcing your unique brand. 

Your Website 

Build a professional website that outlines your services and credentials. Be sure to make it responsive for mobile devices. And use search engine optimization (SEO) to help it rank higher on sites like Google. 

Email Capture 

Include an email capture bar on your website to collect the information of those interested in your services. Then, use an email management system to send personalized messages. 

You can first welcome people to your business. Then, move them along your sales funnel with email nurture campaigns. 

Social Media 

Set up a few social media accounts on platforms where your customers are most likely to spend time. If you have an older demographic, Facebook is a good choice. But TikTok might be better if you work with young people on a budget. YouTube is always a good choice for posting engaging content and useful tips that keep your business top of mind. 

Consider also using online ads to reach more people. Pay-per-click (PPC) ads are economical because you only pay when someone actually clicks on the ad. 

FROM ONE OF OUR PARTNERS:   Digital Marketing for Electricians  

Building Customer Relationships 

Marketing is closely related to customer relationship management. You want to develop rapport with clients in your local area to bring in new business. Here are some expert tips for meeting new people who can eventually become clients: 

Join Online Communities. 

Sign up for neighborhood groups like  Nextdoor  and  Facebook  community pages. You’ll find people looking for contractors there. And you can post that you’re available for work, which is free advertising. 

Network Locally. 

Join your town’s chamber of commerce, especially if you want to land any commercial projects. It’s a great way to network with other business owners. Small businesses often have bigger budgets for electrical contracting. This can be quite lucrative. 

Offer Workshops. 

Connect with community agencies for free how-to workshops. For example, electrical hazards contributed to  338,000 home fires  in 2021. Could you team up with your local fire department to offer a seminar on how to reduce the risk of electrical fires? You could leverage this type of workshop into video content to get extra mileage out of it. 

Request Online Reviews. 

Don’t underestimate the influence of reviews. Online reviews carry a lot of weight with people looking for electricians and other service professionals. 

Ask all customers to submit an online review on Google or Yelp after completing a project. Make it simple by including a QR code on your invoice or follow-up communications. Customers can scan it with their phone or device and link straight to your preferred review site. 

Follow up and thank them or address any reported issues promptly. 

First Steps to Starting an Electrician Business 

Ready to get going now that you know more about how to start an electrician business? Here are the top ways to get started today: 

Start Your Research. 

Begin your thorough market research and figure out your USP first. Take your time and get it right. That’s going to determine nearly everything else that comes after. You don’t want to start a business in a niche that’s already oversaturated. 

Secure Proper Licensing. 

Determine the licensing and insurance requirements for your state and municipality. Schedule classes and exams to obtain the right certifications for general electrical contracting and anything extra needed for your USP if necessary. You need to get this out of the way before taking on clients. 

Hire a CPA or Business Attorney. 

You need to create the best financial section of your business plan possible. Hiring a professional is worth the investment. You will likely need funding, and lenders want to see financial strength. They want to know you can lead a business, not just provide electrical contracting services. 

Select a Software Service. 

Explore field service business management software. It will help you get organized from the start. You can make the best use of your time by automating many tasks. Being able to devote more time to billable work and growth is yet another way to increase your profits. 

RELATED ARTICLE:   How to Grow and Run a Successful Electrical Business  

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• Copilot Studio

Building your own copilot with Copilot Studio

Richard Riley , , Tuesday, March 19, 2024

Learn how you can use Copilot Studio to build your own copilot, available on multiple channels, designed for your audiences, and tailored specifically to your business processes and workflows.

In November, we introduced Microsoft Copilot Studio , a conversational AI platform that allows you to customize Copilot for Microsoft 365 and build your own copilot.

Copilot for Microsoft 365 offers AI assistance to create, find, and ask for information across Microsoft 365 apps and provides a Copilot chat available across several employee experiences like Microsoft Teams, Windows, and Bing. However, sometimes you may want generative AI assistants that can reach users on multiple channels outside of those, like embedding on your internal websites, mobile apps, and social channels. You may want to design individual AI assistants that can serve employees, customers, and partners. Or you might want a custom copilot that you can tailor to specific roles and functions, where you can control the orchestration of your large language model using the dialog manager for managed topics with specific workflows.

When you create your own copilot with Copilot Studio, you are building intelligent chat experiences using ready-made large language models, a dialog manager, 1200+ data connectors, and more within a low code SaaS. These custom copilots are AI assistants that help humans with complex cognitive tasks using your organization’s knowledge, connectors to LOB applications, and your own custom topics. For example, a copilot for IT support, a copilot to help your customers choose the right product, or even help your suppliers track the status of orders.

How Copilot Studio works

Let’s talk through the steps to building your own copilot. You can start by logging in to Copilot Studio which will spin up all of the required services for you so it’s ready for building in a matter of minutes.

Imagine you wanted to create a custom copilot to serve customers on your website, for example assisting with product knowledge questions and order management.

First, start by grounding your copilot in your data. Using generative answers , you can enable multi-turn chat over your organizations real-time data—from local files to SharePoint sites, from public websites to data in your own custom backends creating the ability to chat over a wide set of topics within minutes. For this scenario, you would use your public website including your product information.

For critical topics such as account management, which involves handling customer details, you can design the specific conversational flow that you want Copilot to follow. You have the option to use visual authoring or natural language to design these prioritized topics before proceeding to generative AI. For instance, consider a topic that collects user details, authenticates the user, and interacts with your order management systems following a specific sequence of steps. Another example of a managed topic is discounting, where responses may involve legal and compliance matters, and therefore, you provide the managed response.

With generative actions , you can now provide a list of plugins to the copilot, selecting from 1200+ data connectors like SAP, Workday, Salesforce etc, and these will be dynamically executed to help the copilot take action. This allows copilot to effortlessly handle complex queries that were unforeseen or not previously constructed.

For developers that want more custom development, you can use Azure models and services with Copilot Studio. This hybrid approach of low code with custom pro code integration  allows you to bring custom language models , Azure OpenAI on your data , knowledge bases , image generation with DALL-E, telemetry, and more into your Copilot Studio copilot.

When you’re ready, you can publish your copilot to multiple channels which can be internal or external facing to interact with users across different platforms, such as websites, Microsoft Teams, social apps, mobile apps, Azure Bot Service channels and more. You can also escalate the conversation to 1st party Dynamics 365 and 3rd party tools like Genesys, LivePerson, Salesforce and ServiceNow when the copilot requires human assistance.

Once the copilot is live, be sure to review the copilot performance with the built-in analytics dashboard that helps makers monitor key metrics, evaluate performance, and find new copilot topics. Secure and manage your copilot with governance and control features with the central admin center to protect copilot data with data loss prevention policies, role-based access control, environment management and more.

These are just some of the foundational steps to getting started, but there are many other features you can include in your copilot.

How Copilot Studio will evolve in the future

When you build custom copilots using Copilot Studio today, you are designing chat-based experiences to support users with knowledge discovery, such as finding answers to their queries, and task/business process completion, such as calling APIs and following workflows.

We are continuously enhancing the capabilities of Copilot Studio in the upcoming months through several key areas of focus:

• Generative AI knowledge sources– Generative Answers currently supports several data sources to ground your Copilot. Today, you can chat over unstructured data by providing your URLs and data sources. We are expanding both the number of sources and sizes over time. Learn about the existing capabilities today .
• Multi-modality – You can design powerful text-based Copilots today, and even create copilots optimized for speech , which can be used with Dynamics 365 or Interactive Voice Response (IVR) ISVs. Over time, we will provide even more ways to interact with your chat-based experiences.
• Generative AI availability – Copilot Studio is available across several regions, languages, and data centers which we are expanding here .

Be sure to read the Copilot Studio in Copilot for Microsoft 365 blog for information on plugins .

We appreciate your ongoing feedback and suggestions as we continue to improve the experience. Stay tuned for more updates at Microsoft Build.

What else can you do with Copilot Studio

Copilot Studio offers features that can be consumed both within your custom copilots and Copilot for Microsoft 365 via plugins, such as 1200+ data connectors, workflow design, and generative answers all through the low code authoring canvas. The difference is in the channel and audience in which the copilot/plugin is consumed.

If you have invested in Copilot for Microsoft 365 today, you may look to use Copilot Studio to bring in your data outside of Copilot for Microsoft 365 into the Copilot chat, design custom workflows or help control the conversation for specific topics. You would achieve this by designing plugins in Copilot Studio which is included in the Copilot for Microsoft 365 user license for customization of Copilot for Microsoft 365 only. Custom copilot development requires a standalone license . There is no dependency to purchase Copilot for Microsoft 365 to make your own custom copilot.

With Copilot Studio in Copilot for Microsoft 365, you can create plugins for various transactional scenarios. For example, if you want to know how much travel budget is left for the rest of the quarter, you can design a plugin to query a SAP connector to retrieve the information. For sales data, you could ask “What are the sales targets for the fiscal?” querying a data source like Salesforce or Dynamics 365, or even query HR data in Workday and ask questions like “How many vacation days do I have left?”.

And the best part is, you only need to build your plugin once, and it can be reused across your organization after being approved by IT in the admin center.

Get inspired with use cases

Copilot Studio provides you with the platform to build a copilot for your specific needs, for your industry, department, with your data. These custom copilots can cover Business to Employee (B2E) Business to Business (B2B) and Business to Consumer (B2C).

• Copilot for IT Service Management: “Check the progress of my current IT ticket” or “Initiate a request for device upgrades” connected to ServiceNow.
• Copilot for Human Resources: “Start the onboarding sequence for our new team member” or “Show me the remaining training budget for this quarter.” Using your HRM systems like Workday.
• Copilot for Frontline workers : “How do I find the manual for Contoso Blender” or “How do I fix the printing machine model XB100”
• Copilot for Legal and Compliance: “Summarize the latest updates to our brand usage guidelines” or “Explain the company’s stance on intellectual property rights.”

Business to business examples:

• Copilot for Project Management: “Give me a summary of completed tasks for Project X’s second phase” or “List the pending deliverables for phase two.”
• Copilot for Supplier Management: “Show the fulfillment status of purchase order #452” or “Track the shipment of our recent bulk order.”
• Copilot for Sales Enablement: “Generate a quote for a large-scale supply of office essentials” helping your business assess the lead potential for a prospective client.

Business to consumer examples:

• Copilot for Customer Support: Guide a customer through the product return process or requests like “Help me with account recovery.”
• Copilot for Product Consultation: “Recommend the best laptop for travel-intensive users” or “Compare the latest smartphone models for photography enthusiasts.”
• Copilot for Service Booking: Navigate a customer through scheduling a service appointment with queries like “Check availability for in-store consultations next Thursday.”
• Copilot for Travel Assistance: “Help me book a trip for a family of four with top-rated family resorts for this summer” connected to your travel booking system.

Check out some of the use cases from customers such as Paypal, AnPost, HP and more .

Get started with Copilot Studio today

We are eager to keep delivering the newest advances to Copilot Studio and we can’t wait to see the amazing solutions you create. Be sure to take advantage of the training content like Copilot Studio in a day and the learning paths to begin your skilling journey.

To learn more about Copilot Studio, visit aka.ms/copilotstudio . To try it for yourself, go to aka.ms/trycopilotstudio . And don’t miss out Microsoft Build , where we’ll share more announcements and demos.

Additional Resources:

• Copilot Studio website: https://aka.ms/copilotstudio
• Blog: https://aka.ms/copilotstudioblog
• Demo: https://aka.ms/copilotstudiodemo
• Product documentation: https://aka.ms/copilotstudiodocs
• Community page: https://aka.ms/copilotstudiocommunity
• Implementation guide: https://aka.ms/CopilotStudioImplement
• Responsible AI: https://aka.ms/CopilotStudioResponsibleAI
• Analyst report: https://aka.ms/CopilotStudioIDC
• Learning resources: https://aka.ms/CopilotStudioLearn

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