Question

Which of the following sections of a business plan comes first but should be written last?

Answer 1

Answer:

B. The executive summary

The executive summary usually comes first but written last since it is supposed to give away the key points of the presentation in a short but precise manner to attract the reader.

Explanation:

The executive summary is a short and concise explanation of the key events that are to be further discussed in the business plan. It serves to prepare the reader for the coming events in the business plan by giving him/her an overview of the key points in the business plan. A good executive summary also serves to captivate the intended reader to want to know more about the business plan.

A good executive summary should have the following properties;

1. Captivating opening statement; the reader needs something that will draw their attention to the business plan and make them want to know more. They need an opener that is interesting.

2. Short and precise; this is where the reader needs to know that you actually understand what you are talking about. This section has to be very precise but short.

3. Problem solution; in this section, you can provide answers to a particular problem. This part also needs to be short since you are writing an overview of the solutions. The detailed explanations will be in the business plan.

4. Proof that it can be done; this is where you provide evidence that you and your team can be entrusted with the business to run it to it's success.

5. Call to action; it's now time to close the deal. Set yourself above the competition to make sure that your client has no other option but to settle for your plan.