A business format plan is the first subject of this business planning course for aspiring leaders. In the following business planning course, you'll learn the importance of The Executive Summary section of a business plan.
The Executive Summary is a critical part of your business plan. Here is where you provide a concise overview of your vision and how you plan to make that vision become a reality.
"Ultimately, business success is measured by profits. The numbers have to add up!"
This is the first section of the business plan so it's imperative that you focus the reader (typically a prospective lender) and convince him to adopt your vision from the very beginning.
More than any of the other section that will follow, the executive summary is key to your success because you must explain to the reader why you believe that your small business idea will be successful.
In addition to the mission statement, which we will detail in the next section, the following content is included in the executive summary:
If your business is brand new, you will not have all of the information detailed above. Instead, you will need to focus your comments on your background and why you believe you have the necessary knowledge and skills to make your dream into a reality.
Regardless of your supporting documentation, you MUST clearly communicate to the reader that there is a need for your product/service and that you have what it takes to bring the product to the consumer and meet the expectations of your investors.
Although the executive summary is located first in the business plan, it is sometimes written last to ensure that all of the information in the business plan is properly summarized.
Learn more about the business format plan of The Executive Summary, by reviewing these free business plans.
There is a false idea of what constitutes real genius and business success. This myth is one of the key stumbling blocks that stand in the way of a person's prosperity.
There is a sense by too many that only those who are blessed by the almighty at birth; ordained to rise to greatness and lead others, have any chance of becoming the top in their field. This is absolute nonsense!
The genius that has accomplished great things in the world, as a rule, is the genius of downright persistence and hard work. Focused and committed EFFORT is the one single thing that has always transformed the world.
"Leverage is produced when you're focused on the activities that produce real results."
You can spot the person who is most capable of this unique sort of effort. The surest sign of the sort of genius that can accomplish great things, is the one who possesses a hunger for achievement; a longing to grow and become more, to be somebody of significance; to do something worthwhile in this world.
It is truly astonishing how much power there is in an intense desire and determination to accomplish a thing, anything (even a business format plan), no matter how easy or difficult it may be.
As a rule, it is this intensity; that hearty appetite within us for achievement in business; that thirst for knowledge that must be quenched, which will measure our success in business and in life.
Great business leaders of the past did not enjoy the convenience of what technology provides us today. Follow the business format plan to ensure your success. Use the Business Planning Toolkit as well as other leadership tools and resources for maximum results.
Receive the business plan format included in the business plan training guide. As part of a business format plan, use our sample business planning steps, which are clearly detailed. PLUS you'll have immediate access to all of our business leadership tools.
TO RECEIVE THE FREE BUSINESS PLANNING TOOLKIT: Subscribe to our FREE monthly newsletter. Instructions to access all leadership tools will immediately follow.
"The best preparation for good work tomorrow is to do good work today."- Elbert Hubbard