For new businesses or businesses seeking funding, credibility and excitement are key elements of the executive summary. Venture capitalists receive hundreds of plans each month, and just a few are actually being read from cover to cover. A quick 20-second scan of the executive summary is the basis for screening which plans to read and which companies to interview for investment. When the plan is the vehicle used to attract financing or investment, the executive summary should make it clear to the reader who is a

potential source of funds why this is a sound investment.

The business background section of your business plan generally consists of two to four sections that present

A useful way to present some product or service information is to create a features/benefits analysis. A feature is a specific product attribute or characteristic. A benefit is the advantage a customer or user will derive from the product feature. Consider the following table, which illustrates this type of analysis for a theoretical high-tech wrist watch:

before production in commercial quantities can begin. Timing issues are also addressed in the financial projections that you prepare and in the market plan you create. Both of those analyses, however, rest on the product or service being available on schedule.

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