It is common knowledge that the Executive Summary should be short and concise, but many businesses make the mistake of being too verbose and/or repetitive in their Business Plan or Exhibits. Often, the Business Plan contains too much content, such as a competitors or market share analysis that should be included as Appendixes or Exhibits. Whenever possible, opt for the Exhibit.
Always have a Table of Contents for your Business Plan and one for the Exhibits only. Both the Business Plan and its Table of Contents should include Sections and Subsections so that the reader can quickly and easily find a topic, such as Exit Strategy or Risk Assessment, to answer an immediate need or interest.
Marketing Plans consist of critically important Exhibits that should include sections on Market Share, Market Penetration, Competition and other items that are summarized in the Business Plan.
Background on your industry, products or services, key contractual agreements, resumes, and other ancillary items are best presented as Exhibits if they are at least a page in length. However, they should also be concisely summarized in the Executive Summary and/or Business Plan depending on the weighted value to the Business Plan. Some of this information you can release on as-needed basis, but as much as possible should be included, usually assuming a Non-Disclosure Agreement (NDA) or Confidentiality Agreement (CA) has been signed in advance. This is particularly important when your Plan includes new technology concepts such as Web-based, green or other emerging industries.
Of course, there are many other Exhibits required to meet the objectives of your Business Plan, many needing customization and others being simply “matter-of-fact.” These are details you may take for granted that an experienced third party, such as Senior Consulting, LLC and its team, would assess to meet your capital needs.
As key members of your team, we are here when you need us to sort through the maze of information in your Business Plan and all Exhibits to tie it all together. The end result…your success!
