Writing The Executive Summary

Step 1:Read the information below and Chapter 14 in the BPPW. Take brief notes and complete the Reading Review on page 220. This should be titled "Creating An Executive Summary- Notes & Reading Review" and turned in. It will be worth 10 points. Title and number this assignment and retain this for a future notebook check.

WRITING THE EXECUTIVE SUMMARY
Executive summaries are much like other summaries in that their main goal is to provide a condensed version of a longer report's content. The key difference, however, is that executive summaries are written for someone who most likely DOES NOT have time to read the original. An executive summary seeks to let the reader in on what the real significance of the report is--what is the reader expected to respond to? The reader is usually a decision maker who will have the responsibility of deciding on some issue(s) related to the report. The executive summary must be written with this need in mind.
The executive summary is usually no longer than 10% of the original document. It can be anywhere from 1-10 pages long, depending on the report's length. For the purpose of this project, your executive summary should be no longer than one page. It is a self-contained, stand-alone document. Accuracy is essential because decisions will be made based on your summary, by people who may have not read the entire content of your report.

Functions of an Executive Summary

• Gives readers a summary of the essential contents of your document.


• Previews the main points of your document enabling readers to build a mental framework for organizing and understanding the detailed information in your document.


• Helps readers determine the key results and recommendations reported in your document.

Processes for Writing an Executive Summary
Executive summaries are typically written for longer reports. They should not be written until after your research is finished. Before writing your summary, try to:

• Scan your research to determine what the content, structure and length of the report would be.


• Highlight key points; determine purpose/central theme of the report.


• Review your research and determine what the key ideas or concepts are.


• Group ideas in a logical fashion and prepare a point form outline of the summary.


• Edit the outline to eliminate secondary or minor points; use your judgement to keeping the summary concise.


• Determine whether subtitles, bullets, selective bolding or some other type of organizational structure will add to the clarity of your summary.


• Write the summary in your own words, using a professional style.

Questions to Ask Yourself as You Write
1.What is your report about?

2.Why is it important?

3.What is included in the report?

4.What is included in each report?

Concise Statement of your Findings
As a cover sheet to a document, an executive summary need not go into ANY mention of how you conducted your analysis and/or what you're basing your conclusion(s) on. Instead, begin with a concise statement of the conclusion(s) you reached after conducting your analysis and/or research in the paper that would normally be attached. How you word the conclusion will differ depending on your audience and what they care most about. The wording must change given an audience's needs.

Your executive summary should be concise and visually appealing. To accomplish this, it is a good idea to use:

• subheadings for major sections
• white space between sections
• bullets for key points

Step 2:

Using the worksheets on pages 215-217in the BPPW, as a guide, complete a word-processed executive summary. Print two copies. One will go in your notebook as today's assignment and the other will go with your finished plan. Title and number this assignment and retain this for a future notebook check.

Putting It Together!

Putting The Business Plan Together

Now it is time to work backwards a bit and start putting your business plan together. So far, you have created a company logo (and business card), as well as drafts for all sections. When you get all of your final drafts back, look over them to make any additional changes. Assembly all sections in the proper order. DO NOT put any work in your final project that has teacher notes on it. Make revisions prior to assembling it.

Each section will be numbered (and included on a table of contents.) For example, the first two sections should be titled and numbered as follows:
I. Management Team Plan
II. Company Description

You should also create your cover page. On the cover page you should have your logo, the name of your company, its address and phone number, and the chief executive's name. That may seem obvious, but it's amazing how many business plans don't have a cover page or have an incomplete one. Nothing will turn off a banker or investor faster than having to look up your telephone number in the phone book because you left it off the cover page. Moreover, if the plan is going to be distributed to several bankers or investors, you will want to number each plan prominently on the cover page -- to allow you to track the plans and to inhibit recipients from copying or widely passing around the plan. You may also have recipients sign a nondisclosure statement, if you wish.

You have done a lot of work on this project. Now it's time to put it all together. Be diligent. Work hard to make each section the best it can be so that the final project really reflects all your time and effort.

Creating Your Company Financial Plan – Part 2

Creating Your Company Financial Plan – Part 2

Nearly everyone who has ever started a business has underestimated the costs, and then faced the danger of running with inadequate capital reserves. The key to avoiding this pitfall is to adopt a rigorous approach to your research and planning. You may obtain a Startup Expenses Spreadsheet Template from your teacher, that you can use to lead you through the process. Follow the directions on the right hand side of the spreadsheet. Delete the directions box prior to printing. Some of your data will have to be educated guesses, particularly in light of the fact that most of your businesses are start-ups and no records are available to work from. Do your research and use your best predictions for your start-up expenses. It is likely that you will need to also include a narrative to explain your financial plan and to ensure that you meet all of the objectives (as outlined below).

Before your begin to write your financial plan, read Chapter 19 (both sections) in the Entrepreneurship Textbook and take notes. Title and number these notes accordingly and retaim them for a future notebook check.

Objectives:

1. Explain the assumptions on which all financial decisions are based.
2. Prepare a statement of sources and uses of funds that tells potential lenders and investors how much money is needed to start the business and how the money will be spent.
   
   

Creating Your Company Financial Plan – Part 1

Creating Your Company Financial Plan – Part 1

A large number of small businesses fail each year. There are a number of reasons for these failures but one of the main reasons is insufficient funds. Too many entrepreneurs try to start and operate a business without sufficient capital (money). To avoid this dilemma you can review your situation by analyzing these three questions:
How much money do you have?
How much money will you need to start your business?
How much money will you need to stay in business?

Read the following article, take notes and retain them for a future notebook check.
Cha$Ching- Money Matters!