The business plan boot camp will consist of eight parts in total, each tackling a portion of the plan and the basics of how to handle its successful creation as prospective businesses look to secure funding and backing. Put together, these skills will help create a business plan that will wow potential investors.
Part 1. The Executive Summary
If you’re a budding entrepreneur hoping to start your own business one of the first items on your to do list should be putting together a business plan. There aren’t many businesses that can get legitimate funding from established creditors and banking institutions without a plan for how the money loaned is going to be used.
Creditors want to see that you’ve thought out all of details of your business idea, This means having knowledge of everything from the ins and outs of market demand and how you’ll use the money they loan you to smaller details like how you’ll go about solving real problems for real people You’re a good risk if they can feel confident that you have been meticulous in your research and smart with your strategy. To get there, you need a business plan.
A business plan typically has nine main parts, of which the executive summary is the first and perhaps the most important. It is the first section of your business plan that an investor will see. It needs to clear, well written and thorough.
When it comes down to it, the purpose of the executive summary is to tell your potential investors what your company is about, your goals for the company, and why you think your business has what it takes to make it in a saturated, overly competitive market. Your executive summary is your first opportunity to grab the attention of your potential investors and to set yourself up as a straightforward, goal-oriented, savvy businessperson. Think of your executive summary as your first impression. It will be the most viewed part of your business plan. It should be concise, clocking in at a page at most.
You want your executive summary to highlight the strongest parts of your business plan. As a result, the executive summary is actually the last section of your business plan you write, even though it appears first in your plan.
Whether you have an established business or are starting a new one, make sure to include the following in your executive summary: