September 5, 2008

Executive Summary: “It can only be 2 pages…”

Today, I found an article written by Frank Peters (from the Frank Peters’ Show fame) that I thought was very well written.  I’m sure that I have written about this topic before, but it seems that the message has yet to penetrate to entrepreneurs across the US.  What is the message?  Here it is in Frank Peter’s words:

I don’t love Executive Summaries; it’s just me being smart-alecky. But I hate business plans even more; no one reads business plans. Why? Because there’s no time; I’m not that interested at that point of first contact, and I’m not alone. I don’t know anyone who wants to see your business plan.

Knowing that we (who’s the we? me and my angel peers) are too busy for a long business plan, the ES plays the critical role of sparking our interest.

Here are a few of my Do’s and Don’ts

1. It can only be 2 pages. This is a great discipline for you; tell your story succinctly and cover all the essentials in just a front ‘n back handout. Why only 2-pages? I already told you! We are constantly looking at applicants’ entreaties for funding. We want to see something that either fits our interests or doesn’t, and we can tell in just 2 pages.

Click here to read more…

Frank does a great job explaining in detail the importance of writing an effective executive summary — all I can add is a simple, “amen.”  :)