Executive Summary Tips By Business Plan Writing Services in Pune & Mumbai
With the boom in startups, there is also a surge in business plan writing services in Pune and Mumbai. However just writing a successful business plan is not important. It needs to be coupled with a great executive summary which briefly outlines a company’s goals and purpose. Executive summaries are the doorway to a business plan which helps in grabbing the reader’s attention and informs them why they should read the rest of the business plan.
An executive summary covers the key points of a business plan and works as an overview of the content of the business plan. It helps in saving the time of the readers and helps them to set expectations of the content further. The summary has to be clear, concise and businesslike and must entice the reader to further read the detailed plan. In fact, in most of the cases, summaries are all that investors read. And that’s why is often the make or break section of a business plan.
Executive summaries are like elevators and business pitch. It needs to clearly outline customer problem, the entrepreneur’s unique solution and how they will make a profit. Since summaries are a snapshot of the business plan, they are usually written after the business plan is complete. Usually, it becomes challenging for entrepreneurs to summarize the entire plan within two pages, but anything beyond this length will not excite a reader to read it further.
Moreover, one important aspect of summaries is that they shouldn’t be hyped. It should help readers to be excited about the opportunity the entrepreneur plans to solve and how the idea will be successfully executed. There are various successful business plans and the entrepreneurs must do the following.
Present a clear concept
Quite often entrepreneurs miss out on conveying the important aspects of their business plan in the summaries assuming that the reader will read the details further ahead. One should not overlook the critical points that differentiate a business from its competitors. If the concept is too technical or complicated, then one should explain it with a user case study in brief. A good business concept should be described well in few words and sentences rather than too many pages.
Use professional help of business plan writing services in Pune and Mumbai
A summary must be able to convey the areas of focus and critical areas of a business plan. It must highlight the support that the entrepreneur is seeking from the reader which can include investments, advice or opportunities of collaboration. It should serve as a guide to the reader so as to seek further details on the points mentioned in the summary. It also conveys the expectations that the entrepreneur has, from the reader. The goal of writing a summary is also to deliver a hard sell and convince the reader to invest their time in reading the entire plan and take necessary action ahead.
Simplify the details
Many entrepreneurs feel that using jargons will make their business plans look attractive and mature. However, successful business plans that one will often come across are simplest and to the point. It is important to highlight the crucial aspects of the business plan in the summary, however, at the same time, it is also necessary to gauge that the business plan meets the needs of the reader too. This is where using the business plan writing services in Pune and Mumbai can help. It must work like setting a stage for the rest of the plan and show the excitement of the idea and the company to the reader.
Readers, by the end of completing the executive summary, should exclaim that they wish to know more details of the business idea. Taking help of project report writers, who have the skills of writing such content regularly can be a great help for the entrepreneurs. A business plan summary should be able to highlight the strength of the business concept and its competitive advantage.
Following are the list of points that every executive summary must include:
The summary should highlight the mission and vision of the company and brief details of customer problem which is being addressed and resolved. It can also include details like company formation, founders: their backgrounds and roles, business locations etc. This should also include the market potential opportunity and a customer base that the entrepreneur will be targeting. This paragraph should essentially be able to summarize the purpose of the business and the competitive advantage that the company has over its competitors.
Current business position
The next paragraph should highlight what is the current status of the business. It should include product or service development, launch or customer usage details. It includes the important aspects of the business model, the first set of customer segment that the company has decided to serve, marketing and implementation plans. Important statistics and parameters like total number of users or transactions, number of activities conducted and their impact etc. should be included in the summary.
Financial features and requirements
This section should convey the current financial status of the company and describe if the company is planning to raise additional investments for expansion. It will include a brief financial summary and the details of current investors and investments. In case the business has been in operation for a long time then, it should also include details like growth year on year, revenue and profitability increase, increase in the market share and number of customers’ etc. should also be included as a part of the summary.
This point should convey the successes that the business has already achieved since its inception. It can include company formation details, business transactions, key partnerships, activities etc. This section also provides an opportunity to use other brand names which help in improving the credibility of a company, especially if it is in a startup form. It can also include names of business advisors and mentors who are guiding the founders of the company.
The entrepreneur should describe future business goals and expansion plans under this section. It also includes how the business has evolved over a period and new opportunities that it opens up to grab in the market. It should be able to convey where the entrepreneur would like to take this business in future in terms of financial aspects and market growth.
Details like new customer segments, new markets or global expansion and technology road map should be included in this part.
One of the most important aspects of an executive summary is to quantify it. Usually, numbers convey a story better than words and they can highlight various important parameters and successes.
There are numerous business plan writing services in Pune and Mumbai which can guide entrepreneurs to create successful and affordable business plans. Business plan preparation is a cumbersome process however at the same time writing a business plan is a more challenging process since it requires summarizing over 30 pages within 1-2 pages.
There are various other ready made templates and formats available online but seeking professional business plan writing services are always recommended.
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