What is an Executive Tax Summary?
An Executive Tax summary is a brief explanation of your business plan. It should explain your business, problems it can solve, your market target, and financial stability.
A good executive summary engages the reader’s attention and excites them to read the rest of your business plan and proposals. Reading an executive summary can create investors for initial decisions, so get it right. Here is how to write an executive summary for your business plan to stand apart from rest.
Tips on Writing an Executive Summary
Some general rules will help make your executive summary easier and more effective. Things to keep in mind before getting started:
1.Think of an executive summary as a pitch
A good summary can sell your plan, not a hard sell, but it has to summarize the plan. Readers expect it to include your business plan, products, market, and financial highlights. Highlight things that will spark your reader’s interest in your business, to achieve their plans immediately
2. Write it last
Write your executive summary after you complete everything else. Though the executive summary is at the beginning of a finished business plan, choose to write at last. The executive summary should be short – usually a page or two. Also, highlight the points that make your business plan unique. So safe it for the end to make it quick and easy.
3. Keep your summary short
Keep it brief and clear. Many experts recommend a single page or two but not more than five pages. Less is more. Keep it short without missing any essential information. Longer pages are too long to read and make the reader’s interest low.
4. Keep it simple
Don’t over complicate and over-explain things in your summary. Keep the executive summary in short text and use bullets and subheadings to make it clear. Moreover, add pictures of your products and bar charts explaining financial highlights are.
5. Prioritize sections based on importance and strengths
Organize your summary with the most important information about your business plan appears first. There is no set of orders of appearance, so use your order to show emphasis.
6. Use it for your summary memo
An executive summary is the first chapter of your formal plan, but you can reuse it as a “summary memo”. Some startup investors often ask for a summary memo instead of your full business plan. It might be an attached document in your email or simply a summary in an email.
Is an Executive Tax Summary necessary?
Are you explaining a business plan to investors or bankers? You need a good executive summary. Many investors prefer reading a summary memo. And others read the summary of whether to continue to read your plan. As a Result, Executive summaries are essential for outside investors to understand your plan. It takes effort to prepare an effective executive summary, so if you don’t have a business plan there is no need to do it.
Download a template for your executive summary :
If you do like to start with a template for your executive summary, you can download it for free on Bplans. It covers everything you might want to include in your summary.
