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Your Executive Summary is the single most important part of your business plan. Readers will review it before they read any other section. Many readers will breeze through the Executive Summary, so you need to explain your business concept clearly, concisely, and in a way that makes them want to know more. Your Executive Summary is the first impression many readers will get of your company. Make sure it’s a good one.

KEY TO SUCCESS

Pay Attention to Preparation

A few ways to make your Executive Summary look appealing to readers:

 Divide the Summary into paragraphs that mirror the sections of your business plan.

 Keep each topic brief.

 Use bullets to highlight your most compelling information.

 Include a small chart or graph if it makes an important point clear.

 Use white space and informative subheads to break up text blocks and make the pages seem less intimidating.

For additional suggestions, see Presentation Pointers on pages 154-165.

On pages 8-10, you’ll find a worksheet to help you prepare your Executive Summary. Each question on the worksheet refers to corresponding worksheets throughout this book. You’ll find it much easier—and quicker—to complete the Executive Summary worksheet if you’ve already worked through the rest of the steps in this book (Steps 2-9). Just refer to your completed worksheets to assemble the key ingredients for an informative, compelling Executive Summary.

Before you get to the worksheets you’ll see a sample Executive Summary for the fictional company ComputerEase. Review this model for more ideas about the content and structure of an Executive Summary.

SAMPLE PLAN:

Executive Summary

THE COMPANY

ComputerEase, Incorporated, provides computer software and software-as-a-service (SaaS) training services, primarily to the corporate and business market. In addition to offering local training at its own dedicated facilities, the firm delivers on-premises training to corporations located in the greater Vespucci, Indiana, area. More recently, it has created online versions of its courses that can be accessed from anywhere with an Internet connection. The technology business services industry is one of the fastest growing in the United States, and ComputerEase intends to capitalize on that growth. The company’s stock is currently held by President and CEO Scott E. Connors and Susan Alexander, Vice President, Marketing.

Immediately highlights a positive factor

Provides basic company details in a straightforward style

PRODUCTS AND SERVICES

The company provides software training programs targeted to the corporate market, and currently has a portfolio that covers a broad range of leading business software programs. There are two ways that training is delivered. On-premise training is provided by in-person instructors, either at the customer’s place of business or at ComputerEase’s Corporate Training Center. Online training is offered via the Internet. In addition to providing training for the most-used enterprise and business software and web-based business services, ComputerEase also creates custom programs at corporate customers’ request for both on-premise and online delivery. The online training programs increasingly incorporate at least some video training segments, enhancing the learning experience.

Briefly describes the company’s offerings

TARGET MARKETS

ComputerEase’s “brick-and-mortar” business operates in the greater Vespucci, Indiana, area. Vespucci is the sixteenth-largest city in the United States, with a diverse and healthy economy. U.S. Census Bureau data show that more than 10,000 organizations with more than 50 employees (ComputerEase’s primary target market) are located in the area. ComputerEase’s online market is composed of English-speaking countries where a high percentage of businesses are automated or in the process of becoming automated. The market for online computer training has grown by more than 33 percent each year for the past five years, and is projected to sustain this rate of expansion into the next decade.

Shows large market potential

THE COMPETITION

No market leaders have yet emerged in the corporate software training field—either in the Vespucci region, or in the online space. Competition is diverse and uneven, creating substantial market opportunities. ComputerEase maintains the following advantages over existing competition: Strategic partnerships with leading software publishers; formal certifications from those publishers; a growing reputation for delivering highly effective training and superior customer support; a company-owned, state-of-the-art computer training center; a local sales staff with strong ties to target customers; and a national network of third-party consultants and computer retailers that bundle ComputerEase’s courses with their own services.

Describes competitive edge

MARKETING AND SALES STRATEGY

ComputerEase differentiates itself in its marketing by emphasizing the needs of the corporation, not merely the students taking the classes. Locally, the firm employs highly regarded sales professionals with extensive ties to the target market who secure sales predominantly through face-to-face solicitations. For customers who access ComputerEase’s online training, the company has an aggressive online marketing strategy that includes advertising on prominent training websites, exhibiting at training industry trade shows, publishing a monthly email newsletter on best practices in corporate training, and using search engine marketing by purchasing keywords. To support its customer base, ComputerEase also maintains an active Facebook fan page and has a Twitter feed.

OPERATIONS

ComputerEase owns its own Corporate Training Center with 20 PCs fully equipped with all the latest versions of the most popular business software programs. The company offers corporate training sessions at the Center, as well as at local corporations’ place of business. It plans to open a second Training Center with some of the funds currently being sought. ComputerEase utilizes the excess capacity of the Training Center by offering Saturday and evening classes to consumers. Additionally, ComputerEase has three development PCs for creating the interactive course content based on the instructor-led courses and documentation. All equipment is leased, resulting in lower capital expenses and ensuring the latest equipment at all times. All data center operations, including the server that hosts the online training applications and student data, are outsourced to a local managed services provider. Video production is outsourced to a local company experienced in creating instructional videos.

MANAGEMENT

President and Founder Scott E. Connors brings significant technology-related management experience to this position. Immediately before starting ComputerEase, Connors served as regional vice president for Wait’s Electronics Emporium, a large computer hardware and electronics retail chain. Previously, he was a sales representative for IBM. Vice President Susan Alexander brings direct experience in marketing to the target market from her prior position as assistant marketing director for AlwaysHere Health Care Plan, and sales experience as a sales representative for SpeakUp Dictation Equipment.

Highlights management’s relevant experience

FUTURE DEVELOPMENT AND EXIT STRATEGY

In addition to expanding online operations, ComputerEase will consider franchising. The company will also increase the number of company-run locations, choosing major metropolitan areas. Online, the company’s goal is to become a major player in the corporate software training market. It would be open to merging with or being acquired by another leading online training brand or an online university or for-profit educational institution.

FINANCIALS

The financial strategy of ComputerEase emphasizes reinvestment of income for growth during the first few years of operation, with the company reaching profitability within the next three years. Annual revenue projections for the current year are $466,000; for year two, $987,750; and for year three, $1,637,230.

FUNDS SOUGHT AND USES

The company is currently seeking $160,000 in investment financing. These funds will be used for expansion, primarily opening an additional Training Center, hiring new staff, and increasing marketing activities. Long-term plans are for the company to aggressively expand its online business; work with customers to develop interactive online custom training programs for employees; and either develop a franchise operation or expand to become a regional company-owned chain, adding at least one training location annually.

Provides specific numbers and uses of funds. Hints at exit opportunity

My Executive Summary

What is your business all about? What are its most compelling qualities? Answer the questions on this worksheet, summarizing conclusions you’ve reached in the worksheets in Steps 2-9 of this book. Organize the information in a way that most appeals to your target reader. Combine related topics if that improves the flow.

THE COMPANY

What are the basic details of your business? (See worksheets on pages 15 and 17.)

PRODUCTS AND SERVICES

What products or services do you offer or plan to offer? (See worksheet on page 21.)

TARGET MARKET

Who are your customers? (Include a summary of any market research results.) (See worksheet on page 43.)

THE COMPETITION

Who are your competitors? How is the market currently divided? What gives your company its competitive edge? (See worksheet on page 60.)

MARKETING AND SALES STRATEGY

How will you market and sell your product? (See worksheet on page 76.)

OPERATIONS

What are your most important operational features? (See worksheet on page 92.)

MANAGEMENT

Who are your founders? Who are the key members of your management team and what are their qualifications? (See worksheet on page 106.)

DEVELOPMENT

What is the company’s current stage of development? What are your long-term goals? What are some of the milestones you’ve met or plan to meet? What is your potential exit strategy? (See worksheet on page 120.)

FINANCIALS

What are the expected financial highlights or performance of your company? What are your company’s expected gross sales and net profits? (Use gross sales and net profit figures from the worksheets on pages 132-133.)

FUNDS SOUGHT AND USES

How much money are you seeking, from what sources, and how will the money be used? (See worksheets on pages 25 and 147.)