The investment decision is about the content – the team, the market, the differentiators, the scalability, traction so far, validators, growth potential – not the presentation or formatting of the plan.
The last key element of an executive summary that investors will want to see is the progress that you`ve made so far and future milestones that you intend to hit. If you can show that your potential customers are already interested in—or perhaps already buying—your product or service, this is great to highlight.
Without a business plan as a baseline, it will be far more difficult to track your progress, make adjustments, and have historical information readily available to reference when making difficult decisions. Creating a business plan ensures that you have a roadmap that doesn`t just outline where you plan to go, but where you`ve already been.
The more you test and review elements of your plan, the better your plan and business will be. This can save you from spending days developing a strategy that just isn`t feasible.
Do not misunderstand, these are important inclusions in your plan; however, during the early stages of drafting, it is important to create a broad vision that can be adapted once your specifics have been identified.
If you are writing a business plan to get a bank loan or because you`re asking angel investors or venture capitalists for funding, you must include the details of what you need in the executive summary.