What Should Be Included in a Business Plan? 9 Essential Elements of an Executive Summary

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Some experts believe that startup founders shouldn’t bother writing a business plan. Why? Such a plan can quickly become outdated, no one has time to read it, and it takes time to prepare. However, sometimes a startup needs to have such a document. How do you write a business plan? Why should you create one? Read on to find out more.

What should be included in a business plan? – table of contents:
Executive Summary
How to write an effective executive summary?
Business Description
Company Vision
Summary
Executive Summary
What should be included in a business plan? Not everyone is aware of this, but the executive summary of the venture is one of the most important parts of a business plan. That is why it is worth putting in the extra effort to create it. It is best to write this part at the end, when the other elements of the business plan are ready.

Why write an executive summary for your business plan? Unfortunately, you have to assume that the person receiving your business plan is busy, so they won’t read the entire document unless something in it intrigues them. After all, the executive summary should intrigue the reader.

An executive summary is usually placed at the beginning of the document. This section should provide a brief overview of the most important issues related to the planned business. When you write a business bahrain whatsapp number database for yourself, the executive summary can be omitted. If not, it should be prepared accordingly. This type of summary should highlight the key points that appear in the business plan.

The executive summary should not be too long. In fact, one page is enough. After all, the goal here is to convey the essence of the business plan. It should include the following elements:

startup idea
business objectives
Product Description
potential customers
marketing strategy
current financial situation
projected financial status
funds needed for development
information about the people involved in the startup
what should be included in a business plan
How to write an effective executive summary?
The executive summary is, in fact, an abbreviated version of the business plan and its essence. This part of the document should be extremely convincing. How to write an effective executive summary of the enterprise? There is no single template, but it is worth paying attention to some key points when writing.

The executive summary should be well-crafted. You need to think carefully about what this part of the business plan should cover. It should answer questions about what your brand is and why the audience for your business plan should be interested in it. It’s worth including some surprising information to intrigue the reader.

Another important point is to keep the executive summary short. The fewer paragraphs, the better. Preferably four, but they should not be too long either. It is a good idea to ask someone to edit the executive summary and perhaps the entire document.

This should be someone who deals with writing on a daily basis and can convey important information effectively. Additionally, you may want to give the summary to other team members for review. It is best to write several versions of the executive summary and choose the best one, then refine it.

Business Description
The executive summary of the venture should be followed by the business description. In this section, you need to answer the following questions:

Who are you?
What are you planning to do?
Answering these questions is about explaining why you are in business in the first place and why you decided to launch a company. You need to explain what makes you different from other business projects and why you can revolutionize the market. This is, at the same time, a good opportunity to define on paper the intangible aspects of your company, its ethical value, operating philosophy, principles, etc.

You should include the following aspects in your business description:

the structure of the startup
basic information about the company
the chosen business model
industry description
company vision and mission
company history
short-term business goals
long-term business goals
team and key employees
employment costs
what should be included in a business plan
Company Vision
It’s also worth including your company’s vision in your business plan. You need to articulate the impact your startup will have on the market and, perhaps, the world. A sentence or two will suffice here. However, it should be a clear and specific statement.

What should be included in a business plan – summary
A business plan is a document that has a certain structure. The individual parts must be prepared with care and precision. However, it seems that the most important part is the executive summary placed at the beginning of the business plan. It is its attractiveness that will make the reader want to move on to the next sections.