Executive Summary-Part One
I will be working with someone along the way for the final portfolio to finish the final submission. You can make up your own business.
Business Plan Sections: Each week students are to submit business plan sections that will eventually be assembled to comprise the components of the Final Business Plan Project.
Note: The Executive Summary section of the business plan is typically the very last section to be written. Ultimately, the author will extract key information from the rest of the plan and summarize it here.
For this course students will write this section first and revisit the executive summary throughout the duration of the course, making modifications.
Topics here should include:
1. Why the company is being formed. What is the purpose of your business?
2. Description of the business. How do you characterize your business? For example, are you a retailer, service and repair business, restaurant, etc.? What do you specialize in?
3. Background to the problem that your business will seek to fix. How are you going to bring value to your customers and how are you going to meet their needs better than any other business?
4. Market conditions. What are the current and forecasted market conditions for your industry?
5. Business structure. What is your business structure? Is your business a Sole Proprietorship, Partnership, S Corporation, C Corporation, LLC, LLP, etc.? For what reasons did you choose this business structure?
6. Location. Where are your offices located and where will you conduct business?
7. Financing. How will you finance this endeavor?
[Type Executive Summary here using the above notes as a reference]
Note: These are your business goals. In this section you will establish your objectives in terms of the market share you intend to capture, your projected sales and profitability.
Objectives that are quantifiable and measureable are always best. As you start your business and as you grow your business the objectives you establish here will serve as a metric to gauge your performance and success in achieving your business objectives. Be realistic.
Objectives to highlight should include:
1. Market share. How much of the market share do you intend to capture and by when? Be specific and stay within a 3-5 year period.
2. Sales. How much do you intend to sell each year?
3. Profit. How much profit do you intend to make each year?
[Type Objectives here using the above notes as a reference]
Note: The mission statement defines your business. Avoid being long winded and wordy. Keep it short and to the point.
Mission Statements should address the value the business intends to bring to:
[Type Mission here using the above notes as a reference]
Keys to Success
Note: The keys to success are typically 3-4 elements that are critical to the overall livelihood, growth and sustainability of your business.
[Type Keys to Success here using the above notes as a reference]