The executive summary or exact summary is often the redheaded stepchild of the business plan components. It’s not that it’s not valued but it seems to have found different purposes throughout. You know really the last 20 years of the startup world seen it went from being extremely important to you know five years ago we rarely use them or they’re really starting to gain favor again.
You know what is it one its all’s it is is a written version generally one page ideally of your pitch deck and maybe a few additional details based on. You know operational x’ or cap table components for it. It’s not that difficult now because it’s a redheaded stepchild often people will wait to the very last and not spend much time on it.
Which is dangerous because a lot of investors do like to use this instead of the pitch deck when you email them before they meet with you. Conversely I know some people that will actually start using. You know the exec summary before they write anything else they use it as an outline. It’s not recommended it’s actually one takes a lot more time to do it.
But you end up missing a lot of the key components so the exec summary just very simply is a one page maybe two page at most written summary of your pitch deck with a few additional details. How do you come up with it what is their standard format well thankfully just like Guy Kawasaki gave a format for power points and pitch decks.
There is a format for the one page or two page exact summary and it comes from gust or Gus calm GU st.com now Gus used to be called Angel Soft and it’s the software that most the angel grips use to manage. Their deal flow and what happened is everyone was putting their deals into they’re answering questions and it would come out in a standard format that angels got used to looking at and VC said that’s a pretty good format.
we think we’ll like that so it’s just become the industry standard this is great for you,because all you have to do is fill out the profile and gust and download the one pager.you have your exact summary it’s got your logo it’s got all the details.
Want you know and then you now have an online profile you can share now gust is an online site for against you know for angel investments and managing investors but it allows you to create a company profile that company profile can be kept confidential so you can use gust it’s free to sign up to create your profile and your exec summer never show to the world so no concern there so what is included in the exec summary just that you’ll cover it even though I really recommend.
you use the Gus structure and online form to do it you’re going to have your business summary you’re gonna have your list your products and services you’re going to list the customer problem your target market your management team who your customers are your sales and marketing strategy your competitors your competitive advantage and financial projections each one of these is generally.
just one paragraph or a few lines so you narrow it down and those are just a written form so good grammar so unchecked kind of important here you don’t want to throw off an investor it cares about that you don’t have to be the most amazing wordsmith just click keep it clear simple language that explains what you’re doing in these different segments they’ll also be a sidebar you’ll notice in the summary and it will list.
you know what type of corporation you are who are the shareholders maybe how much you’ve raised a few other details that an investor who might be wanting to evaluate this you know high-level thinking about doing a meeting with you would want so they understand this current situation of the company I am finding them very valuable because pitch decks have become just so common as what everyone sends out that if you can send out and hand out a really well-written exact summary it can be very valuable investors a standing out like this is someone I want to meet with down the road.