These days, some of which I impart Masters in Digital Marketing classes are coming to an end and students must present their final projects Master. These projects can be in the form of research, in the form of Marketing Plan or as Business Plan. Most of my students choose the latter option. So tutorials in recent weeks are to finish finalize their projects, prepare executive summaries (Which although included at the beginning of a business plan is written at the end) and to prepare presentations to be performed before a court of the university.
During tutorials this week I realized that for many of these students perform executive Summary It is not as easy as it seems to me. So for them, I wrote this post.
What is an executive summary?
A executive Summary It is a document provided as an appendix of a business plan that aims to summarize in a two-page, our business plan.
This document is the one that will give our potential investors in a first contact. We never deliver our business plan directly for two reasons:
- Because our potential investor does not know if you're interested or not our business, and therefore do not want to read a document that can have more than 100 pages (you'll want most, spend 5 minutes to listen).
- Because we do not know our future investor (... could be a future competitor) and we're not delivering our business plan to anyone.
How can you make an executive summary easily?
The easiest and most effective way (or at least this is my opinion based on my experience) to make good executive Summary It is putting it in the form of FAQs (Frequently Asked Questions), ie, in the form of questions that may arise our potential investors and we will look to respond in three lines max per question.
What questions poses a potential investor?
These are some of the questions that our executive SummaryAt least, should respond:
- What problems have you encountered?
- What is the project about? (How will you fix the problem?)
- Where is the business? (How do you earn money?)
- How much money is needed to create it?
- How long it will reach breakeven (or neutral, or break even.. depending on where the investor is)? and What economic results will be obtained?
- What equipment is carried out?
- Why do you think you will succeed?
These same questions are surely the court to hear our final Master thesis will also consider well worth the students to take well prepared and be able to answer without hesitation.
In this video I explain how.
To see an example of Executive Summary including the questions, click here: Example executive summary
To see an example of Executive Summary written up no questions included, click here: Example executive summary 2
Both examples are both perfectly valid to present to a court of projects to present to potential investors.
I hope I have been helpful.
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Especialista en estrategia en Marketing Digital. Impartiendo conferencias, formación y consultoría desde hace más de 20 años.