Large corporations often invest loads of resources in smaller businesses, letting them thrive and flourish. If you are among such tiny brands and need extra investments, you must be well-prepared, as the competition to receive this money is fierce. The best way to boost your chances of winning this game is by composing a rock-solid investment proposal. Oh, you do have this created? Hold your horses then; that’s not all. Other than a detailed business plan, you must stand out in one more element – an executive summary. This article will provide the ins and outs of an executive summary, including tips to help you nail this task and finally get the investment money.
What is an executive summary, and why is it important at all?
The executive summary is one of the most critical parts of a business plan – it is a synopsis of your business, goals, and finances. It should distill the document’s main points, highlighting what the reader will find most useful. A good executive summary is clear, concise, persuasive, and above all else, free of technical jargon. It should include the document’s main points and take no more than 10% of the document’s length.
What makes an excellent executive summary?
A good executive summary is always straight to the point and easily readable. The piece must also be flawless, i.e., polished to shine in terms of vocabulary and grammar. There is no need to create an extensive summary, including unnecessary information and complex visuals. Squeezing the most crucial information in less than two pages and adding images with the removed background will do it. Click to visit VistaCreate and use the tool to help you improve your summary’s visual representation.
Core components of an executive summary
When writing your executive summary, be sure to include the following information:
A brief overview of your business
In a few sentences, write an overview of your business that includes what your company does, how long you’ve been in business, any awards or accolades you’ve earned, and what makes your business unique. Example:
ABC Company has been providing quality XYZ services to the people of Greater Anytown for over 25 years. We are proud to have won the prestigious Anytown Chamber of Commerce Business of the Year award three times. Our personal touch makes us unique – we get to know our clients and their needs and tailor our services to fit them perfectly.
In an executive summary, you should write about your business goals in an understandable and compressed way. You should include information on what you hope to achieve and how you plan to do that.
Financial situation description
You need to gather your financial statements and documentation to get a bigger picture of your current financial situation.
A target market
This section should include a description of your target market, including information on the market’s size, demographics, and location. It should also include the market’s needs and wants and how the business plans to meet them.
A summary of a marketing strategy
The marketing strategy should be based on the product’s unique selling points, describing the critical elements of the marketing strategy, including the target market, positioning, value proposition, and key marketing mix elements (product, price, promotion, place).
If you’re hoping to get your executive summary read by someone who matters, don’t underestimate the power of a strong opening. The first few sentences of your outline are crucial for making a good impression and convincing the reader to keep reading. Here are some tips for writing an opener to grab and hold attention.
1. Start with a strong hook.
Beginning with a bang is vital. Your executive summary should start with a powerful, attention-getting opening sentence. It will allow you to pique your reader’s interest and ensure they keep reading. This hook could appear as statistics, an interesting fact, or a question.
2. Introduce the problem that your company solves.
Your introduction must be compressed and straight to the point. Here is an example of what it could look like:
Our company specializes in providing innovative solutions to complex problems. We have a team of experienced professionals committed to finding the best possible solution for our clients. We work closely with our customers to understand their unique needs and requirements and provide tailored solutions that meet their specific goals and objectives. Our team has a proven track record of successfully solving problems and delivering results that exceed expectations.
3. Explain why you’re the best company to solve the problem.
Do some good brainstorming before writing this section, and include aspects that make you stand out from the competition. There is no need to have trivia in summary. Remember that your business proposal’s smaller version is, essentially, a sales pitch and must pack a punch, making investors want to learn more about your project.
Be sure to proofread your executive summary carefully before submitting it to potential investors or lenders. Use a spellchecker and scrutinize the formatting; you don’t want to observe different fonts and redundant spaces upon submitting your summary.
There you have it. While the mentioned points are traditional and practical, keep in mind that there is no one-size-fits-all strategy that will help you compose a killer executive summary. Therefore, consider the laid out information, but approach your piece individually if you aim to get those investments.