Writing a Winning Executive Summary An executive summary
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Writing a Winning Executive Summary
An executive summary outlines your strategy for creating, launching and managing a new venture. It answers the questions of What, Why, Who, When, Where and How.
Success begins with a true opportunity. A viable opportunity exists when: u u u You have unique knowledge of an industry (products, services, competitors, customers’ needs, missing pieces) You find a way to meet a need that is not being met, or a better way to meet a need You can execute a viable business in the industry (growing market, healthy margins, customers ready to buy, early cash flow, a strong team, high profit potential)
Frieda Caplan
Gail Frankel
Stroll’r Hold’r
Hoop N Hold
Tubbly Bubbly
Squeezer Feeder
Shampoo Visor
Robin Petgrave
Mary Ellen Sheets
Sean Nygren
Judi Sheppard Missett
Components of the Summary Cover Page u Company Overview u Market Description u Product or Service u Sales & Marketing Strategy u Management Team u Student Involvement u Financial Plan u
Cover Page Name of new business u Names of team members u Contact information u Date of plan u
Company Overview Product or service provided u Market need or pain point u Market niches/target customers u General business model/strategy u
Market Description Overall size and health of market u Market growth rates and drivers u Current trends relevant to business u How product or service meets the needs of the target customer u Barriers to entry and exit u Analysis of major competitors u Overall competitive advantage u
Product or Service Detailed description of product/service u Current stage of development u Market differentiation for product u Prices and costs for the product u Any intellectual property to protect u
Sales & Marketing Strategy Channels for product distribution u Sales and marketing strategies u Target customers and/or companies u Customer acquisition strategy u Key partnerships and relationships u
Management Team Members of the management team u Specific role of each team member u Organizational structure of business u Future personnel needs for growth u
Student Involvement Roles of student(s) in product development u Role of student(s) in market research u Role of student(s) in business strategy u Role of student(s) in writing summary u
Financial Plan Capital requirements for the launch u Source(s) of capital for the launch u Staged funding required if needed u 12 month pro-forma income statement u 3 to 5 year pro-forma income statement u
Summary Judging Guidelines Company Overview u Market Description u Product or Service u Sales & Marketing Strategy u Management Team u Student Involvement u Financial Plan u Overall Quality of Plan u 5% 15% 10% 15% 15%
Sample business plans can be viewed on the following websites: www. bplans. com www. businessplans. org
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