The executive summary is the first part of your business plan. This is where you capture the reader’s attention be explaining the specifics of your business. What is the name? What will you be doing? What is the mission of your business and what are your goals?
Is there a need?
Next you want to analyze the market in order to prove that there is a need and target audience for your business. This is a great way to validate your business idea as well. If you can’t narrow down your target market or find that they aren’t interested in what you are offering, that could be a huge red flag.
The next 3 - 5 years
The financial projections section is where you get to have some fun with numbers. Map out the financial progress you plan to make with your business over the next 3-5 years. Include revenue goals and you might want to specify how much you’d need from an investor or a loan to bring those goals to fruition.
Have you ever thought about how your business will operate and be structured? Will you act as the CEO? Will you have a team or hire interns? Will you eventually need to work with accounting, sales, and marketing experts? Or will you be more of a solopreneur.
This is a great section to answer all of those questions and map out how you might expect your business to grow in the future and which roles you’ll have and need.