Executive Summary
This section briefly summarizes the entire business plan in one to two pages.
What is the Executive Summary?
This “P” of marketing focuses on what the business is actually selling.
What is Product?
This document shows what you own, what you owe, and your company’s net worth.
What is a balance sheet?
This section outlines how your business will produce and deliver products or services.
What is operations?
This statement describes the long-term dream or direction of a business.
What is a vision statement?
The Executive Summary should always be written at this point in the business planning process.
What is after the full plan is completed?
The group of people most likely to buy your product or service.
What is the target market?
The amount of money your business needs to start operating.
What is start-up capital?
The specific physical location where the business operates.
What is the business site or facility?
The acronym SMART stands for these five goal-setting traits.
What are Specific, Measurable, Achievable, Relevant, and Time-bound?
This element of the Executive Summary grabs the reader’s attention and explains why your business will succeed.
What is the “hook” or “value proposition”?
The method of communicating and persuading customers to buy.
What is Promotion?
The point where total revenue equals total costs.
What is the break-even point?
The suppliers, inventory systems, and delivery methods fall under this term.
What is logistics?
A good vision statement should inspire employees and connect to this core element of the business plan.
What is the mission or purpose?
In an Executive Summary, you should highlight this key information about your financials to show profitability potential.
What are projected revenues and profits?
This section of the marketing plan explains where and how your product will be distributed.
What is Place or Distribution?
These financial statements show income, expenses, and profit over a set time.
What is an income statement (or profit and loss statement)?
This type of plan ensures your business continues functioning in case of unexpected events or disasters.
What is a contingency plan?
Example: “Increase sales by 15% in six months.” Which part of SMART does this goal show?
What is Measurable and Time-bound?
This part of the Executive Summary briefly explains the company’s leadership, location, and overall mission.
What is the company overview?
The marketing plan often ends with this section, explaining how success will be measured.
What are marketing metrics or evaluation?
This section of the financial plan explains how the business will secure money from investors or lenders.
What is the funding request?
This part of the operations plan outlines daily activities, staffing, and workflow.
What is the production or operations schedule?
The vision statement should answer this fundamental question about the company’s future.
What is “Where do we want to be?”