The author started with a written introduction of the importance of the executive summary as part of the business plan.
The video gives instructions of how to write the executive summary including what to do before the first step is done. Therefore, the actual writing of the executive summary starts with step two of the video. Keep in mind that this video is presented from the viewpoint of creating a technical document. When writing a technical document, the business plan is researched and written first before the executive summary is created. Therefore the executive summary created with our creative writing series is designed to be a draft that will be edited at the end of the business plan writing process. This approach will allow the draft to be used as a guide/outline to create the other business plan parts and help prevent writer's block as a hinderance to the process.
As step two, we are instructed to " outline the main steps of the business plan in the summary". The details will include the legal structure choice and the identification pf the positions of the people in charge, doing the work, creating the vision/idea and producing the vision. Although new businesses were told to add experience and background, this can be handled by adding resumes for the key personnel.
In step three, our author directs our attention to our competition. We have the opportunity to demonstrate our understanding of our market, our competition, how much money we need to obtain clients in our market and our successful progress in drawing and keeping profitable clients.
Step four informs us to write so that we engage our audience to want to read more and hold the attention of our reader.
Step five reminds us that the three-to-four page document should be placed at the front of the business.
- Listening to this video is extremely helpful. Consider listening more than once to increase the benefit of receiving as much information as possible.
- The notes can be useful in creating a mini business plan as a good starting point and personal business reference.
- The mini business plan can be expanded into the full business plan for presentations to potential investors.