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The last key element of an executive summary that investors will want to see is the progress that you’ve made so far and future milestones that you intend to hit.If you can show that your potential customers are already interested in—or perhaps already buying—your product or service, this is great to highlight.
No matter what, you need to know who your customer is and have a rough Don’t fall into the trap, though, of defining the market as “everyone.” The classic example is a shoe company.
While it would be tempting for a shoe company to say that their target market is everyone who has feet, realistically they need to target a specific segment of the market in order to be successful.
Who else is providing solutions to try and solve your customers’ pain points?
What are your competitive advantages over the competition?
Perhaps they need to target athletes or business people who need formal shoes for work, or perhaps they are targeting children and their families.
Learn more about target marketing in But if you selling to other businesses (B2B), you may have a few key customers that are critical to the success of your business, or a handful of important customers that are trend leaders in your space.
to easily compare their features against their competition.
The most important thing to illustrate in this section of your business plan is how your solution is different or better than other offerings that a potential customer might consider.
Investors will want to know what advantages you have over the competition and how you plan on differentiating yourself..
Competitors may not always come in the form of “direct competition,” which is when you have a competitor offering a similar solution to your offering.