executive summary 124
An executive summary for a business is a written version of an elevator pitch. Therefore, I am asking your groups to make an attempt at writing an executive summary. Ordinarily, an executive summary would be the last part of a business plan due to the summary of the rest of the plan. I am not expecting this executive summary to be perfect. I am expecting it to show that your group is on track to complete the business model canvas and be able to describe what your business and opportunity are about.
Just a reminder, an executive summary should be approximately (but no more than) 2 pages. Its purpose is to capture interest of from investors and stakeholders through providing an overview of the business. The executive summary should:
- Describe how the business will work (including the governance structure)
- Emphasize your key business issues
- Describe the nature of the product or service that your organization is offering. Including the competitive advantages vs. the industry
- Identify your target market
- Describe market trends (growth, decline, stagnation, etc.)
- A general background and description of KSA’s for the management team
- Some basic level financial projections
- A financing “ask.” What are you wanting from the investors? Think the end of a Shark Tank pitch. (ex. 10% equity stake for $1,000,000)
