Question

When do we write an executive summary of a business plan - at the beginning or at the end of writing a business plan? Why?

Answer 1

An executive summary must be written at the end of writing a business plan. The purpose of the executive summary is to give a brief outline of the entire business plan. In general, a wide range of stakeholders can be the audience of a business plan. Most of them will either be an inventor (i.e. an equity holder) or a lender (e.g. a bank). The executive summary will first grab (or wouldn't grab) the attention of them. The brief facts, figures, inputs, and outcomes written in the executive summary will decide whether they will take further interest in the rest of the report or just filter it out at that stage only. Note that for the investors and lenders, any business plan is like an opportunity and there can be many such opportunities out of which they will select or reject this one. Therefore, very crisp and yet crucial information will come in the executive summary. This crispness of the summary is only possible when we have completed the business plan and all the facts and figures are ready with us.