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The Executive Summary
The Executive Summary of the business plan is often the first and sometimes the only part of the plan that an investor or potential partner will read. You have only a few pages to make a compelling and concise case for your idea, the funding needs, time frame and your ability to execute the plan.
The Executive Summary is usually the last section to be written. Return here once the other sections of your plan are near completion. After reading the Executive Summary, the reader should have an understanding of the core business and be interested in learning more. The Executive Summary should be 3-5 pages in length and will summarize key parts of the business plan.
- Try to convey your passion for starting this venture.
- Have someone who knows nothing about your business read it to be sure that you are clearly explaining the idea and to give you fresh perspective.
- Use formatting such as bullets, charts and numbered lists to reinforce key points.
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The business plan is composed of the following parts:
- Overview: The business idea. Explain what are you selling and to whom and include a brief description of the mission and objectives of both the nonprofit and the business. (Business Model Section)
- Relationship of the business to the sponsoring nonprofit organization. Describe how the business venture is supported by the parent organization and the legal structure under which the business will operate. (Operations Section)
- Opportunity: Market summary. Convince the reader that you understand the marketplace for your product or service by providing highlights of the size of the market, your target customer base and the competition. (Market Opportunity Section)
- Competitive advantages and key partnerships. Explain why your venture will succeed. What do you bring to this market that others do not? What strategic relationships are already in place to help your business succeed? (Business Model and Operations Sections)
- Management team highlights. Who will operate this business and why are they qualified to do this? (Management and Stakeholders Section)
- Expected social impact. Outline your social outcomes and the indicators and targets for these outcomes. (Social Outcomes Section)
- Goals, timeline and benchmarks. Explain how the business will proceed and the key milestones for success. (Operations Section)
- Financial overview. Describe the financial outlook of the business including expected year of break-even, upfront costs and the financial strengths. How much do you need and when do you need it? What will these funds support? (Financials Section)
- Contact information. Who should the reader contact if they want to know more about the business? Provide the name, title, address, phone, fax and email information for the key contact at the organization. Including this information is extremely important because the Executive Summary might be separated from the body of the business plan and circulated.
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