|
The introductory elements of your business plan - your cover page,
executive summary, and table of contents - determine what kind of
first impression you make on readers. In many cases, the
introductory elements, especially the executive summary, will
determine whether readers read the rest of your plan at
all. Moreover, your table of contents indicates how well you have
organized the entire plan. For this reason, all of your
introductory elements must be top-notch both in presentation and
substance.
A beautifully crafted plan that is unprofessionally put
together will send a strong message to readers about your
professionalism and your standards. Your cover page must have all
pertinent information, your executive summary must convince
readers that your entire business plan is worth looking at, and
your table of contents must make it easy for readers to navigate
through your plan. Read about each specific element to learn more:
Cover Page
How complicated can a cover page of a business plan be? Well, you
might be surprised at how many business owners leave crucial
information off of cover pages. Lenders report that they
frequently have to call directory assistance to locate an
entrepreneur who forgot to include a phone number and other
contact information on their business plan.
The purpose of a cover page is to tell the reader what he or
she is about to read and how to reach the writer. Your cover page is also a way to
get your business plan noticed. Lenders see dozens, if not more,
business plans a week and something as simple as putting your
cover page on quality stock paper, may catch their eye.
Your cover page should say the words "Business Plan," and should include your:
- name and business name
- company logo
- address
- telephone number
- fax number
- E-mail address
The date should also appear on your cover page.
Executive Summary
The executive summary is what most readers will go to first. If it
is not good, it may be the last thing they read about your
company. Lenders in particular read executive summaries before
looking at the rest of a plan to determine whether or not they
want to learn more about a business. Other readers will also go
first to your executive summary to get a snapshot of your business
and to gauge your professionalism and the viability of your business.
While your executive summary is the first part of your plan, write
it last. As you create the other sections of your plan, designate
sentences or sections for inclusion in your summary. You may not
use these sections verbatim, but this exercise will remind you to
include the essence of these sections in your summary. Your
executive summary should be between one and three pages and should
include your business concept, financial features, financial
requirements, current state of your business, when it was formed,
principal owners and key personnel, and major achievements.
Tips
- Create your executive summary after you have written the other
sections of your plan so that you may cull a few sentences from
important sections for inclusion in your executive summary
- Polish your executive summary. Have several people read it -
both those who know your business and those who do not - to
check for clarity and presentation
- Be sure to include business concept, financial features,
financial requirements, current state of your business, when it
was formed, principal owners and key personnel, and major
achievements
- Use industry association statistics, market research from other
sources, and other documenting information to back up statements
you make in your executive summary
- Keep your executive summary short and make it interesting. This
is your chance to entice readers to read your entire plan
Table of Contents
Your table of contents provides readers with a quick and easy way to find particular sections of the plan. All pages of your business plan should be numbered and the table of contents should include page numbers. After you assemble your plan and number your pages, go back to the table of contents and insert page numbers. Be sure to list headings for major sections as well as for important subsections.
|