The executive summary is the most important part of a business document.It is the first thing others will read and the last thing you should write.A brief review of the document is enough to let busy people know how much to read and what actions to take.
Step 1: An executive summary is a short review of a business document.
Key words here are short and review.The executive summary will not be a substitute for the original document.The executive summary should never be more than 10% of the original document.It should be between 5% and 10%.
Step 2: Make sure it is in line with the guidelines.
The majority of authoritative sources who write executive summaries agree that certain guidelines should apply.Paragraphs should be short and concise.Even if you haven't read the original report, executive summaries should make sense.The language of the executive summaries should be appropriate for the target audience.
Step 3: The problem should be defined.
Whether it's supply-chain management or marketing campaigns overseas, an executive summary needs to clearly define the problem.Executive summaries need clear definitions of problems because the documents that they are based on, Requests For Proposals (RFP), are often written by technical people with a poor grasp of conceptual issues.Make sure the problem is understood.
Step 4: Provide a solution.
There is always a need for a solution.You need to present your solution so that it effectively tackles the problem in order to deliver a claim statement of purpose.Your solution is less likely to work if it isn't clearly written.
Step 5: If the document is easy to skim, use graphics, bullet points, and headings.
Executive summaries don't need to be long blocks of text.It's okay to use graphics if they make a summary.A graphic showing the client's problem could drive home the point of the summary.The visual sense is just as effective as the analytical sense.There are bullets.There are long lists of information that can be broken down.Headings.If necessary, organize the themes by heading.As the reader dives into the summary, this will help orient them.
Step 6: Don't use jargon and keep the writing fresh.
The enemy of understanding is Jargon.It's popular in the business world.You should avoid words like "interface," "leverage," and "core competency."They make the summary sound vague and devoid of details.
Step 7: The first thing to do is to look at the original document.
Since the executive summary is a summary of another document, you need to be familiar with the original document in order to condense it into a manageable and informative version.Whether that original document is a report, business plan, proposal, manual or different document, look for its main ideas.
Step 8: Write a short review.
What is the purpose of the company sponsoring the document?What is its purpose?Women World Wide is a not for profit organization that seeks to connect women all around the world with effective solutions to domestic violence, as well as offering a network of support for those suffering from domestic Violence.In 170 countries across the globe, it has received referrals from women.
Step 9: Make the grab shine.
The most important part of your executive summary is this section.The reader should be told why your business is special in two or three sentences.Why is it that people are reading the summary?If you have Michael Jordan as a customer, you might be able to get him to endorse your product for free.Maybe you just signed a partnership agreement.Maybe you just got a patent or made your first sale.
Step 10: Define the problem.
Explaining the problem that your products/ services address is the first real ingredient of an executive summary.Make sure the problem is clearly defined.An ill-defined problem won't set up your solution to be as effective as it could be.Los Angeles is overwhelmed with traffic.Los Angeles has the worst traffic in the nation.It is not just annoying.Reducing worker productivity, increasing rates of asthma, and creating a serious health problem are all caused by the pollution caused from gridlock.There are more cars in L.A. than there are people who can drive them.
Step 11: Deliver your solution.
The easy part is the big problem.You have to convince the reader that you have a solution for the big problem.You will have a great idea if you deliver these two ingredients."Innotech has created a traffic control system that shaves minutes off of commute time by installing patented "smart grids" into stoplight lanes that read the amount of cars in any given lane and direct traffic accordingly."Drivers in America will no longer have to stand at a red stoplight for minutes while the green light blinks for no cars in the other direction.
Step 12: Talk about market potential.
Provide statistics for your industry.Don't pretend that you have a bigger market than you do.The medical device industry is worth $100 billion a year, but your new device will only serve a small segment of the industry.To get a realistic market potential, break it down.
Step 13: It's a good idea to include your unique selling proposition.
This is where you explain your solution.What gives your product or service an advantage over the competition?Maybe your home health care service sends doctors to the home instead of just nurse practitioners, or maybe you guarantee same day visits so that you don't have to schedule ahead of time.Explain why you are special.It has the added benefit of being able to detect when no one is home.When a light is left on in an empty room, it automatically shuts off and turns on again when motion is detected in the room.The customer will save money on their electrical bill.
Step 14: If necessary, discuss your business model.
Executive summaries don't need a business model.NGOs probably won't have a business plan.Your business model needs to be easy to follow if it does.How will you get people to take dollars out of their wallet and give them to you?The model should be simple in the executive summary.A quick summary is all that is needed.
Step 15: If necessary, discuss your management team.
This is one of the most important parts of your executive summary.The idea is not being put into the team by your investors or bankers.A strong team is needed to execute ideas that are easy to come by.Your team has the experience and knowledge to execute your business plan.
Step 16: Financial projections are needed to support your claims.
The bottom-up financial forecast is based on your market, business model, and historical performance.Your ability to build financial projections based on a sound set of assumptions is the point of your projections.Don't spend a lot of time on this section if your plan is for a group of investors because they know you have no idea how much money you will make.Depending on your financial projections, investors won't make a go/no-go decision.They will make their own projections.
Step 17: You can ease in to your request.
Depending on the purpose of the executive summary, it's time to request an investment or loan.You need to explain why your company gives value.The reader should be reminded of the big pain that you are solving.Your team's ability to get the job done should be emphasized.To reach the next major milestone for your business, ask for a dollar amount.Don't say how much equity you want to give up or the interest rate you're willing to pay.This should be done face-to-face.
Step 18: You should read your summary again.
Reread the basics carefully after you've written them.The summary should be written with care.The document should be considered by your audience while you are rereading it.Make sure the language is clear to someone who is new to this topic and that any new references are explained.Rewriting is necessary.The executive summary should be reread by a pair of fresh eyes.Are the words clear, the ideas clear and the summary devoid of jargon?There are errors.There are spelling and Grammatical errors.It's a good idea to fact-check the figures and statistics.There was force.Is it possible that the ideas translate into a pitch?The pitch falls flat, if at all.Coherence.What parts don't fit together?What parts do they use?