1.0 Executive Summary

Although the executive summary comes first in the business plan, it should be written after the entire plan is finished. The executive summary is perhaps the most important section within the business plan as it's the first section to be read and needs to capture the interest of the reader. If the executive summary fails to capture their interest then the rest of the plan won't be read. The executive summary should provide the reader with a 'thirty thousand foot view' of what you plan for your business and tell them what is unique about your business idea which will help to ensure it succeeds.

Essentially, the executive summary shows a summary of the following aspects of the plan:

• Business Idea / Unique Selling Proposition (USP)
• Workability, Goals and Opportunities for the Business
• Financial data that shows projections for the first two years of operations, equity and some detail of required finance
• Keys to Success

Start this section with an overview of your business idea, introducing the business by name and providing any relevant historical information. You should talk about the need which the business fulfills and how you plan to meet those needs. You should also talk about your unique skills and experience as they apply to the business. Discuss your overall approach to the business so as to give the reader an idea of how your business will operate and provide a clear picture in their mind of the overall business and its operations. Also discuss the purpose of this business plan; is it to get financing, provide a detailed road map or serve as a general framework to start the business which will be refined as the business develops and grows.

1.1 Business Objectives

This section presents the objectives for your business. While the Executive Summary section is typically written after the rest of the business plan is created, you may find it helpful to make a first pass at this section as it will help you to get your thoughts together and form a basis for developing the rest of your business plan. You can then come back to this section when the rest of the plan is complete and update your business objectives.

Your business objectives should be related to the market, gross margins, revenue and expansion. They also must be specific and measurable, otherwise you won't know how to reach your objectives or know if/when you've met your objectives.

• Specific - should be specific enough that you know clearly what the objective is.
• Measurable - put a number to it so you will know when you've achieved it.
• Time Specific - put a time limit to the objectives, typically a year is a good goal.
• Realistic - the objectives must be achievable with the resources and time you have.

Write the objectives in the format of 'objective', 'measurement' and 'time'. For example for the objective of increasing sales by 30 % should be written as:

• Increase sales (objective) to $800,000 (measurable) by the end of the third quarter of FY 2012 (time specific).

The following are some typical examples of different types of objectives used often in business plans.

• Gross Margins/Revenue/Sales
• Market Share/Penetration
• Expand into New Markets
• Product Development/Expansion
• Business Value (net worth for resale of business)
• Brand Recognition
• Brand Loyalty
• Reputation
• Long Term Survival
• Diversification
• Profit Maximization
• Globalization
• Social Change/Responsibility - develop a new drug to cure a disease, develop new product which purifies water in developing countries, etc.
• Environment
• Customer Service
• Employee Workspace
• Marketing
• Target Market (your customers) - how to connect with them.

1.2 Mission Statement

The Mission Statement states the organization's purpose or fundamental reason for existence. In this section you need to define the mission-statement for which your company exists. The mission statement could be defined in terms of:

• Your target audience (who are they)
• Products or offerings
• Location of business; geographic region
• Technology
• Concern for survival
• Philosophy (believes, values, aspirations, and philosophical priorities)
• Self concept; What are our strengths
• Concern for public image
• Concern for employees.

1.3 Guiding Principles

1.4 Keys to Success