I am doing a business plan for a new start up business and I wrote an Executive Summary but client wants to take it out. I want to have a more detailed explanation on the importance of the Executive Summary for future discussions.
My questions is how to elaborate the imporatance of the Executive Summary in the Business Plan. If you have previous experience or ideas and how to break it down into sections to ask the right questions.
I have always considered Executive Summary as the following:
Describe briefly why your business needs to exist:
Briefly summarize what your company does. What solutions do you provide to your customers? What are the current major initiatives of your business?
Describe your target customer or market segments. How does your company fit within the current market? How long have you been around, and what’s changed since you first started?
Your Financing Needs:
Write a brief overview of you and your team. Why are you the right people to build this business?
Risk assessment & contigency plan.
