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How to Write an Executive SummaryThe Basics The Specific s
The executive summary is the most important part of a business document.
It is the first (and sometimes the only) thing others will read and the lastthing you should write. It is simply a brief summary of the document, given
so that the busy people who will read your document know at a glance how
much to read and what actions will probably be needed.
1 Understand that an executive summary is a short summary of a businessdocument."Short" and "summary" are key words here. The executive summary is
not going to be comprehensive in any way, nor will it be a substitute for the original
document. An executive summary should never be longer than 10% of the original
document. Shoot to have it somewhere between 5% and 10%.
An executive summary is different from an abstract. An abstract gives the reader
overview and orientation, while an executive summary gives the reader more of a
summary. Abstracts are more commonly written in academia, while executive
summaries are used more for business purposes.
Method 1 of 2: The Basics
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Make sure it adheres to certain stylistic and structural guidelines.Mostauthoritative sources who write executive summaries agree that certain stylistic and
structural guidelines should apply. These include:
Paragraphs should be short and concise.
Executive summaries should make sense even if you haven't read the original
report.
Executive summaries should be written in language that is appropriate for the
target audience.
Define the problem.An executive summary needs to clearly define a problem,
whether it's supply-chain management or marketing campaigns overseas. Executive
summaries, especially, 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 defined in clear,
understandable terms.
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Provide a solution.A problem is always in need of a solution. In order to deliver aclaim statement of purpose (and a reason to fund the venture), you need to present
your solution so that it effectively tackles the problem. If your problem isn't clearly written,
your solution is less likely to make sense.
Use graphics, bullet points, and headings if the document is easier to skim
that way.An executive summary is not an essay; it doesn't need to be long blocks of
text. If they enhance understandingor make the summary more skimmable, it's okay to
use:
Graphics. A well-placed graphic illustrating the precise nature of the client's
problem could drive home the point of the summary. Stimulating the visual sense is
often just as effective as their analytical sense.
Bullets. Long lists of information can be broken down into more digestible bullets.
Headings. Organize the themes of the summary, if necessary, by heading. This will
help orient the reader as s/he dives into the summary.
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6 Keep the writing fresh and jargon-free.Jargon is the enemy of understanding. Itjust so happens to be really popular in the business world. Words like "interface,""leverage," "core competency," and "burning platform" are all words that you should strive
to avoid. They obscure real meaning and can make the summary sound vague and devoid
of specifics.
1 Start with the original document.Since the executive summary is a summary ofanother document, you'll need to be pretty familiar with the original document in orderto condense it down to a manageable and informative version. Whether that original
document is a report, business plan, proposal, manualor di fferent document, review it,
looking for its main ideas.
Method 2 of 2: The Specifics
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Write a brief summary.What is the purpose of the company sponsoring thedocument, or of the original document itself? What is its scope?
Example: "Women WorldWide is a not for profit organization that seeks to
connect women al l around the world with effective solutions to domestic violence,
as well as offering a network of support for those suffering from domestic
violence. While operating from its headquarters in Alberta, Canada, it has
received referrals from women in 170 countries across the globe."
Make the "grab" shine.This section is probably the most important part of your
entire executive summary. In two or three sentences you should tell the reader why
your business is special. Why does it deserve the scrutiny, business, or partnership of the
people reading the summary?
Maybe you have Michael Jordan as a customer and he has endorsed your producton Twitter for free. Maybe you just signed a partnership agreement with Google.
Maybe you were just awarded a patent, or maybe you just made your first big sale.
Sometimes just a simple quote or testimonial is enough. The key is to grab the
attention of your audience, make the business appear as reputable as possible,
and draw the reader in to the rest of the document.
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Define the big problem.The first real ingredient of an executive summary is a
discussion of a problem, so explain the problem that your products/services address.
Make sure the problem is defined as clearly as possible. An ill-defined problem doesn't
sound convincing, and won't set up your solution to be as impactful as it could be.
Example: "Los Angeles is crippled with traffic. Apart from the Metro DC area, Los
Angeles has the worst traffic in the nation. It's not just annoying. The smog and
pollution caused from gridlock is reducing worker productivity, increasing rates of
asthma, and slowly creating a serious health problem. There are more cars in
L.A. than there are people old enough to drive them."
Deliver your unique solution.The big problem is the easy part. Now you have toconvince the reader that you have come up with a unique solution for the big problem.
If you deliver these two ingredients, you'll have the makings of a great idea.
Example: "Innotech has created a groundbreaking traffic control system that
shaves minutes off of commute time by installing patented "smart grids" into
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stoplight lanes that read the amount of cars in any given lane and direct traffic
accordingly. No longer will drivers of America have to stand at a red stoplight for
minutes while the green light blinks for no cars in the other direction."
Talk about market potential.Elaborate on the big problem by providing stats for
your industry. Be careful not to pretend that you have a larger market than you do! The
fact that the medical device industry is $100 billion annually means nothing because your
new medical device will only serve a small segment of the industry. Break it down to a
realistic market potential.
Incorporate your unique selling proposition.This is where you elaborate on your
unique solution. What speci fically gives your product or service an advantage over the
competition? Maybe your home health care service actually 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. Point out why you are special.
Example: "Intellil ight has the added benefi t of being able to detect when no one
is home. When a l ight is left on in an empty room, it automatically shuts off and
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turns back on again when it detects motion in the room. This saves the customer
money on their electrical bill and wastes less energy."
Talk about your business model, if necessary.Some executive summaries will
not need a business model. (Nonprofits, not for profits, and NGOs probably won't
have a business plan.) But if yours does, your business model needs to be clear and easy
to follow. Essentially, you are answering the question, "How will you get people to take
dollars out of their wallet and give them to you?" Keep the model simple, especially in the
executive summary. A quick summary is all that is needed.
Discuss your management team, if necessary.Depending on what industry you
are in, this can be one of the most important parts of your executive summary. Your
investors or bankers are putting trust in the team, not the idea. Ideas are easy to come by,
but executing on those ideas can only be accomplished with a strong team. Quickly show
why your team has the experience and knowledge to execute your business plan.
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Provide financial projections to support your claims.Based on your market,your business model, and your historical performance, you need to develop a
bottom-up financial forecast. The point of your projections is simply to demonstrate your
competence, and your ability to build financial projections based on a sound set of
assumptions.
If your plan is for a group of investors, don't spend too much time on this section
because they know that you have no idea how much money you might make.
Investors typically won't make a go/no-go decision based on your financial
projections. They will essentially make their own financial projections.
Ease in to your request.Now it's time to request ei ther an investment or loan,
depending on the purpose of the executive summary. You should restate why your
company provides value. Remind the reader of the big pain that you are solving and your
market potential. Finally reemphasize your team and its ability to get the job done. Ask for
the dollar amount needed to reach the next major milestone for your business. Don't
disclose how much equity you are willing to give up or what interest rate you are willing to
pay. This should be done later through face-to-face negotiation.
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12 Reread your summary.When you have written the basics, reread it carefully.You should proofreadthe summary with extra care. While you are rereading, alsoconsider your audience for the document. Make sure any new references are explained and
that the language will be clear to someone who is new to this topic. Rewrite as necessary.
Have a pair of fresh eyes reread your executive summary, paying special attention
to:
Clarity. Are the words clear, the ideas clearer, and the summary devoid of
jargon?
Errors. Grammatical, punctuation, and spelling errors may abound.
Having someone fact-check the figures and statistics might be a good
ideal as well.
Forcefulness. Do the ideas translate into a stirring pitch? Where does the
pitch fall flat, if at all?
Coherence. What parts don't fit together? What parts do?
Placed at the beginning of a business
plan, the executive summary is the hook
Video
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that lures investors into wanting to learn
more about your business.
The busier the executive, the less he or she will probably read. Write
accordingly.
Executive summaries may vary with the length of the document, but
they should always be relatively brief. Your aim is to pack as much
information into a minimum to moderate amount of reading. If you do
include details in your summary, place the most important points,
such as your conclusions and recommendations, first.
Try the document templates available with most word processing
software that can help you get started.
These same four areas can be used for executive summaries in a
variety of business settings.
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