An executive summary allows you to present a project to potential investors.
Executive summary is a notion linked to the development and presentation of a certain document before a bank or a potential investor. The objective of an executive summary is to present, in a few lines, a project in front of the people who can decide on its financing .
It should be noted that a summary is the result of summarizing . This verb refers to making something shorter , eliminating the accessory and limiting itself to the central thing. Executive , on the other hand, is one or something that is responsible for executing something .
What is an executive summary
This means that the executive summary is usually a text that serves as a presentation of a commercial project . Like any summary, it must be concise and clear: its purpose, in this case, is to draw the attention of its recipient to inform them about the main aspects of the project.
This way, if the recipient is interested in the idea, the person who prepared the executive summary can provide additional information with other documents.
The executive summary should be clear and concise.
An example
Suppose a musician wants to set up a recording studio to rent . With the intention of obtaining the financial resources that will allow him to develop the project, he prepares an executive summary and requests an appointment with the manager of a bank .
The objective of the individual is to present the executive summary to request a loan: in this way, the summary details what the idea is, what budget is needed to be realized, what are the profit prospects, etc. When analyzing the executive summary, the manager may show interest and ask for more information before deciding to grant credit .
Fundamental points of an executive summary
First of all, when presenting a proposal to obtain a loan, we must make the idea very clear, explaining how it differs from the alternatives that have existed so far and why it will be successful. Furthermore, as with any revolutionary product or service, if we want someone to pay attention to us, we must begin by pointing out the problem that until now cannot be solved, and that our idea will leave behind.
Within the context of the main idea of the project, the target audience , the consumers we are targeting, must also be mentioned. If it is a product or service that aims to compete with others already present on the market, then it becomes imperative to detail the advantages that ours will offer to customers, what will stand out from the crowd and will make it a sure success . Here you can also talk about the inventions that will be necessary to conceive it, such as devices or components specifically developed for commercialization and that have been patented by us.
The importance of attracting attention
Despite seeking the attention of a potential investor, an executive summary must be concise, it must present the most important aspects so as not to generate boredom during the first presentation or overwhelm the other party with overly technical concepts that exceed their knowledge.
Another of the fundamental points that are usually of interest in these cases is the current state of development of the idea; Whether it is a product or a service, we must indicate how much progress we have made in its realization since the initial concept emerged. Although it is normal that a closed and properly prototyped idea is valued more than one presented on paper and pencil, there are always exceptions, and in the end everything depends on the impact we have on our interlocutors.
In addition to the questions regarding the idea itself, it is important to provide information about the human team behind the project. It is not necessary to go into details regarding the academic training of each person, but rather to explain in a few lines the contribution that each person makes and the value of their presence in the company.