‘Executive summary can make or break your business plan’
Thursday, October 16, 2008
MANY aspiring entrepreneurs do not appreciate or understand the importance of executive summary, where it should be kept short and business-like, said a consultant from Singapore’s Money Tree Asia Pacific Limited.
Often, potential investors will continue reading the rest of the business plan only when they like the summary, said Michael Reyes, who trains young entrepreneurs.
He conducted a workshop on ‘How to write an executive summary’, as part of iCentre’s THiNK BIG Business Plan competition yesterday.
The objective of the workshop was to teach participants on how to write a proper and effective business executive summary, as well as assist participants to prepare for iCentre’s Business Plan competition, with the first phase ending on October 20.
Reyes is the director of the Money Tree Asia Pacific Limited, which offers and conducts programmes on improving financial, investment and entrepreneur skills among the young. He is also involved in training the trainers, and conducts sessions on issues relating to personal financial management.
The workshop was held at both iCentre and at Universiti Brunei Darussalam (UBD) in the morning and afternoon sessions respectively.
Participants were required to submit a three-page executive summary before the competition’s closing date, with the top business plans shortlisted to the next round. The next round involves two intensive workshops, and a technology forum to assist in formulating the best business plan for final judging.
The one-day workshop was attended by various participants interested in joining the competition, including employees from the private and government sectors.
The THiNK BIG Business Plan competition is the first ICT focused business plan competition in Brunei, and is co-organised by AsiaInc Forum and supported by the Brunei Economic Development Board.
The competition will award a prize money of $45,000 spread across all of the top three ICT business plan winners and a special prize for the Islamic Business Plan participants. The last phase of the competition will conclude at the end of this year, with the final prize presentation held next February. (SHS1)
The Brunei Times
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iCentre holds executive summary workshop
By Zasika Musdi
Many potential entrepreneurs usually misunderstand the importance of an executive summary in a business plan. It should be kept short and business-like, and preferably no more than two pages.
Two “THiNK BiG Entrepreneur Workshops” focusing on “How to write an Executive Summary” was conducted yesterday at the iCentre by Micheal Reyes, the Director of MoneyTree Asia Pacific Ltd.
One of the points he raised was that arguably, the most important part of a business plan is the executive summary - this is the first thing most people read and sometimes, the only part they would read.
He said the job of the executive summary is to sell and not just to describe, and it is often your initial face to a potential investor, so it is critically important that the right first impression is created.
Another point to note while writing an executive summary is to not lead with broad, sweeping statements about the market opportunity, as investors would rather invest in a company solving a desperate problem for a small growing market, than a company providing an incremental improvement for a large established market.
The next point he raised was to use proper examples in the executive summary, as long as it is to clarify rather than to hype. An example is saying that you are using the Google model for generating revenues, not expecting to be the next Google.
The workshops were held in conjunction with the “THiNK BiG Business Plan Competition”, the first ICT focused business plan competition in Brunei Darussalam organised by the Asia Inc Forum and supported by the Brunei Economic Development Board.
The competition was launched on August 27 and contestants have until October 20 to submit their three-page executive summary.
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KR Consulting - A Business Unit of NUS Enterprise
i-Centre : The incubator centre in Brunei
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Big Business Plan Competition 09/10″ had the opportunity yesterday to improve their skills on executive summary writing before the submission date with the help of Michael Reyes, an established speaker for NUS Enterprise Singapore. The workshop was held at the iCentre, Anggerek Desa.
Mr. Ryan Soh was interviewed on Radio today (1 November 2008) by Gold 90.5FM. This was an unexpected phone interview but it went on well. The station would like to find out about what MoneyTree do and what types of programme do we offer. Click on the play button below to hear the phone interview.
MoneyTree Singapore had a GREAT time last week, together with some of our MoneyTree Students, Alfred, Grace, Michelle and Alfred’s former classmates from Catholic High (Aloysius Ng).
