Textbooks tell us that an executive summary is a business plan in miniature. It should be short and use concrete facts and figures. And there's nothing wrong with the theory. Our experience tells us that it's all about people. People who make the products. People who buy the products. And people who invest in people. Are you passionate about your business? Do you have a compelling story? Let's begin then.
Picture this. You've just stepped into the elevator at Trump Towers. As the doors begin to close, someone dashes into the elevator and hits the button for the top floor. Your heart begins to pump as you realize that it's none other than Donald Trump. This is your big chance. You have less than a minute in which to convince "The Donald" that he should invest in your brilliant new invention. Can you do it? Can you pass the elevator test?
It's Like, You Know, The Greatest
It's unlikely of course, that this scenario would ever be played out in real life. But the ability to tell your story in a concise manner, while still communicating excitement, enthusiasm, and passion for your subject is crucial to interest potential investors. Even if all the elements are in place — you have an excellent product with huge market potential and the right people to do the job — if you aren't able to articulate this clearly, to share your vision with someone else, to win mindshare, then you're out of the game.
Kiss and Sell
So how does this translate to the executive summary? The executive summary has to tell the story. In essence, it needs to tell the reader (1) what is important about this new product or technology, (2) why they need this thing, (3) how it is going to make their life easier, improve their quality of life, or make a difference, and (4) what's it going to do for the investor. And ... it needs to do so clearly and simply.
Which brings us to the KISS principle: Keep It Simple, Stupid. Now this might seem contradictory, since we are writing a sophisticated document for a sophisticated audience. That's true; we're not talking about talking down to our audience or oversimplifying. What we're talking about is telling it like it is. No puffed-up verbiage or bunches of this week's buzzwords that obscure what we're trying to say. No complex geek-speak that makes us wonder what this thing is — never mind what it does. No hype. The KISS principle tells us that we're trying to be clear about our message. We know what we want to say. And then we say it.
Just the Facts...and More
Of course, there's always the danger that we end up writing a fact sheet that tells us that Company X is manufacturing a new security device for the home that will retail at $300. A dull, boring recitation which may all be true, but it certainly won't get anyone's heart pumping faster. That's where the passion comes in. Enthusiasm is contagious. Your words need to paint a vivid picture. You need to capture people's attention. If you capture their hearts and minds, it's a short stretch to their pocketbooks.
We do not have a standard execsum.dot template because we bleieve there are no standard executive summaries. Every summary is different because every company is different. And our clients have different needs and expectations. We may opt to put in an elevator story before the table of contents to complement the executive summary; however, in some cases, there may be no need for an elevator story. And there is no standard length. Our one hard and fast rule when it comes to executive summaries (and other deliverables): We tell the story and we stop when we're done.
So how does this translate to the executive summary? The executive summary has to tell the story. In essence, it needs to tell the reader (1) what is important about this new product or technology, (2) why they need this thing, (3) how it is going to make their life easier, improve their quality of life, or make a difference, and (4) what's it going to do for the investor. And ... it needs to do so clearly and simply.