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Unformatted text preview: each chapter, so make sure to include all the
important points that you need to make, even for browsers who don’t read every word.
One of the best tactics in preparing a business plan is to write your chapter summaries well enough
to use them by themselves as the core of a Summary Memo document. In seeking investment, for
example, you will need to have a Summary Memo that describes the complete plan in just a few
pages. You should be able to pick out your summary paragraphs and use them to create the Summary
The Executive Summary is the most important of your chapter summaries. It is the doorway to the
rest of the plan. Get it right or your target readers will go no further. The best length is a single page.
Emphasize the main points of your plan and keep it brief. Long-term Plan
While you’re involved with summaries, consider adding a discussion of long-term plans. How do you
expect your company to change over the next ﬁve, 10, or 20 years? What are the important drivers of
change? What is your company doing to position itself to manage and even thrive on future growth?
I don’t recommend including ﬁnancial details beyond three years in a business plan. At the most,
a brief summary of a ﬁve-year plan in text is sufﬁcient. However, this is not because I don’t believe
in long-term planning. Far from it. Businesses should indeed plan for longer than three years, but
the long-term plans running ﬁve years, 10 years, or more are much less dependent on speciﬁc
information, and speciﬁc business numbers. CHAPTER 20: PLANNING FOR IMPLEMENTATION Some plans are more likely to be implemented than others. Successful implementation starts with a good plan,
one that is full of speciﬁc information on milestones, managers, responsibilities, dates and budgets. Beyond
the plan itself, however, there are other factors also critical to implementation. Are you going to track results,
comparing the planned results to the actual results? Are you going to follow up with your management team,
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This note was uploaded on 01/26/2014 for the course BUINESS 102 taught by Professor Unknown during the Winter '09 term at University of Phoenix.
- Winter '09