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Business Plan Tutorial: Executive Summary & Business Description

Executive Summary & Business Description

Important: The executive summary and business description should be the last components written for a business plan. If you still need to complete research for your plan and write various sections of your plan, do so before processing. 

Executive Summary

A short summary (one to two pages) of the overall plan. The purpose of the executive summary is to get the reader interested. The summary is a space to introduce the most important aspects of the business plan. It is best to be brief; save the in-depth details for the business description. 

Business Description 

The business description is a lead-in to the full plan. The business description may need to be rewritten as the business plan is refined. 

Questions to consider while writing the business description:

  • What is the company vision and mission statement?
  • What is your product or service, and how is it meeting the needs of your industry?
  • What is the life cycle of the product or service?
  • What will your market niches be?
  • What are the barriers to entering this market?
  • Who will your key customers be? Will customers buy the product or service more than once? 
  • What are your company's future goals? 5 years? 10 years? 
  • Who are the owners? Is the firm a sole proprietorship, partnership, or corporation?