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• Description of Opportunity.
• Business Concept.
• Industry Overview.
• Target Market.
• Competitive Advantage.
• Business Model and Economics.
• Team and Offering.
• Financial Snapshot.
Remember that since this is an executive summary all of these components are covered in the body
of the plan. As such, we will explore them in greater detail as we progress through the sections. Keep
it brief here.
Because the executive summary is the most important part of the finished plan, it should be written
after you have gained your deep learning by going through all of the other sections. Don‟t confuse the
executive summary included in the plan with the expanded executive summary that I suggested you
write as the very first step of the business plan process. Again, the two summaries are likely to be
significantly different, as the later summary incorporates all the deep learning that you have gained
throughout the process. Don‟t recycle your initial summary. Rewrite it entirely based on the hard work
you have done going through the business planning process.
Table of Contents
Continuing the theme of making the document easy to read, a detailed table of contents is critical. It
should include major sections, subsections, exhibits, and appendixes. The table provides the reader a
road map to your plan (see Exhibit 14.4).
Industry, Customer, and Competitor Analysis
The first major section of the business planning process creates a platform that answers the question of
why your product/service is needed. Too many entrepreneurs lead with a detailed description of the
product/service, but it is more effective to illustrate the gap in the marketplace that you‟re filling.
Remember, people will know what your product is from the executive summary so there is no need to
lead with it here. Get them excited about the opportunity. To do that, focus on the industry, the
customers, and the competition.
Exhibit 14.4 Sample table of contents.