Planning For Success
by Robyn Friedman
What to Say
A well-written (business) plan should contain, at a minimum, the following sections:
Executive summary. This is perhaps the most important part of the plan because it's what potential investors read first. If it makes the opportunity look promising, the investor will read further. "Few investors read past the executive summary," says Charles Epstein, president of Boca Raton-based BackBone Inc., a consulting firm specializing in business and marketing plans. "A concise, three-page executive summary that establishes an understood challenge and a novel service or product that addresses that challenge -- and sets you apart -- may not get your business plan green-lighted, but it will get it read."
To be effective, the executive summary should include a concise statement about the company, its product or service and the market. It should present the investor with a compelling opportunity -- one that, hopefully, he cannot ignore.
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