No one has the time nor desire to bog themselves down in inches thick of paper, unless they are already pretty sure they want to invest.In fact, lenders and investors will pretty much make up their mind whether to give you money based on this executive summary.
Executive summaries may be more common for traditional businesses pursuing traditional forms of financing.
Such as commercial real estate loans, small business loans from a bank or connecting with more mature partners.
I also reviewed a pitch deck from an Uber competitor that has raised over $400M (see it here).
Still, even if you only plan to go the ‘Shark Tank’ style route of raising money for your startup with a pitch deck, you want to make sure you have a summary and business plan to back it up.
Elements to Include in Your Executive Summary As this is either a follow on from your pitch deck and/or a compact version of your full plan, it will contain most of the same categories and data.
In this Forbes report I detail exactly In this other Forbes article you’ll find a deeper breakdown of what to include in your complete business plan, along with tips from Brian Chesky (Airbnb) and David Mc Clure (500 Startups).
After you complete the 11 worksheets, you will have a working business plan for your startup.
For more than 100 years, Deluxe Corporation has sought to create the tools that help shape our economy.
This is not an advertisement or slogan targeted to the masses on Facebook or a billboard. Those that have the money to fund you are typically smart enough to know when you are exaggerating or just painting the most optimistic and speculative outcome. You’ll win more respect and confidence by being more conservative in your numbers.
If that concerns you, then offer a low, middle and high forecast so they can see the best and worst case scenario.