You can skip the executive summary (or greatly reduce it in scope) if you are writing an internal business plan that’s purely a strategic guide for your company.
In that case, you can dispense with details about the management team, funding requirements, and traction, and instead treat the executive summary as an overview of the strategic direction of the company, to ensure that all team members are on the same page.
The last key element of an executive summary that investors will want to see is the progress that you’ve made so far and future milestones that you intend to hit.
If you can show that your potential customers are already interested in—or perhaps already buying—your product or service, this is great to highlight.
If you can’t pinpoint a problem that your potential customers have, then you might not have a viable business concept.
How To Write A Strategic Business Plan 101 Business School (Mba) Essays That Made A Difference
Once you have described your target market’s problem, the next section of your business plan should describe your solution.
There are four main chapters in a business plan—opportunity, execution, company overview, and financial plan.
The opportunity chapter of your business plan is where the real meat of your plan lives—it includes information about the problem that you’re solving, your solution, who you plan to sell to, and how your product or service fits into the existing competitive landscape. Maybe the existing solutions to your customer’s problem are very expensive or cumbersome.
Accommodate your investors, and keep explanations of your product simple and direct, using terms that everyone can understand.
You can always use the appendix of your plan to provide the full specs if needed.