Checklist for Executive Summaries and Business Plans

2.14 Checklist for Executive Summaries and Business Plans The Executive Summary and the Business Plan are imperative for launching a successful entrepreneurial career. They are the means by which a company crisply conveys its mission, demonstrates its familiarity with its market and growth potential, positions itself and its products within its industry, assesses general market forces and the competitive landscape, and-perhaps most important for high-growth businesses-generates excitement among prospective capital partners for its business concept, management team, and ability to generate favorable returns on investment. The Executive Summary is typically a one-to-two page paper that describes a business concept at a high level, introducing a company's idea to the reader. The Summary should focus on answering three fundamental questions: What is the key technology of the product or service? What differentiates this concept from others? Is there a barrier to entry for current or potential competitors? What is the current market environment and potential future? Who are the competitors and what are the similarities and differences? What kind of market demand exists for this type of product?