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10 Ways Writing Articles Can Improve Your Business
Writing articles has proven time and time again to be one of the best ways to drive targeted traffic to any website. Here are ten quick tips to help you use your articles to the best of their potential. 1. Submit them to e-zines and web sites for...
Halliburton Under Fire
The shareholders of Halliburton are trying to stop state-sponsored terrorism, using the same economic leverage that was effective against South African racism in the 1970's. Back then, shareholders used corporate resolutions to stop companies...
Learning from Voom
Voom was thought to be the company that would be able to compete with DirecTV and Dish Network in satellite service. However, after a $650 million loss it became clear that the company needed more than technology. By looking inside the Voom...
The Wealthy Mindset
What is the difference between wealthy people and poor (even average) people? It is not all the money that wealthy people have and the average don’t, nor the luxury, nor the lifestyle. It is their mindset. A few lucky people have won a lot of money...
Think All the Good Domain Names are Taken?
Have you heard of the other tlds (top leve domains) such as: .free, .church, .video, .travel, .llp, .golf, .school, .agent and .love? There are many more too. Wait! Don't wretch just yet. I'll tell you why in just a minute.
If you look for a...
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Two Types of Executive Summaries
Companies seeking capital often ask how long the Executive Summary of their business plan should be. The answer depends upon the use of the summary, mainly determining if 1) it precedes the full business plan, or 2) it will be used as a stand-alone document.
When the Executive Summary precedes the business plan, its length should be short, typically only one to two pages and certainly no longer than three pages. This is because the Executive Summary is not meant to tell the whole story of the business opportunity. Rather, the summary must simply stimulate and motivate the investor to learn more about the company in the body of the plan.
The second type of Executive Summary is a stand-alone document. That is, it is given, by itself, to investors for their initial review. If interested, the investor will then request the full business plan. A stand-alone Executive Summary is often used to limit the flow of information. That is, if an investor is not interested in the general opportunity that your summary presents, you don’t want to reveal to them intimate details of your plan.
Regardless of which type of Executive Summary you are developing, the summary must included the following critical elements: •A concise explanation of the business •A description of the market size and market need for the business •A discussion of how the company is uniquely qualified to fulfill this need
In addition, a
stand-alone Executive Summary should include summaries of each essential elements of the business plan. This includes paragraphs addressing each of the following:
•Customer Analysis: What specific customer segments the company is targeting and their demographic profiles •Competition: Who the company’s direct competitors are and the company’s key competitive advantages •Marketing Plan: How the company will effectively penetrate its target market •Financial Plan: A summary of the financial projections of the company •Management Team: Biographies of key management team and Board members
The Executive Summary is the most critical element of the business plan. If it does not grab the investor’s attention, the investor will neither read nor request the full business plan. As such, spend time developing the best possible summary, create two versions (e.g., stand-alone and full plan predecessor) as appropriate, and work to get it in the hands of the right investors.
About the Author
As President of Growthink, Dave Lavinsky has helped the company become one of the premier business plan development firms. Since its inception, Growthink has developed over 200 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. For more information please visit http://www.growthink.com.
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