Chapter 10: Lecture Quiz

For this quiz, you will write your Executive Summary for the final business plan.  The Executive Summary briefly tells the reader what your company is and why it will be successful. It should include your mission statement, the name of your product or service, and basic information about your company's leadership team, employees, location and background.  What's your story?  Why does the world need your product or service?  

There are five components (about 3 to 5 sentences each) that you will need to write:

1.  Summary: Introduce the product or service you're promoting. This section should define your business, introduce the name, and give a brief overview of what it has to offer and who will benefit from it.

2.  Problem and solution.  What's the problem?  Who needs this and why?  What's your solution?  In order to sell something, people have to understand WHY they need it.

3.  Background/Target Market.  What's your story?  What gave you the idea? Who will buy it? 

4.  Competitive Advantage.  What's the industry?  Describe the industry in several sentences.

5.  Business Model/ Financial:  How will you organize (LLC?  SCorp?) How much money are you asking for?  How much do you need?  Why?

If you want to look at another step-by-step guide of an executive summary, click HERE.