A brief executive summary is a must for an executive who needs to pitch investors a business idea, get employees bought into a new initiative, or launch a new product or service to current customers. In today’s competitive world, you need to learn to differentiate yourself, not only by bringing a great idea, but also by how you deliver it to the people you need to bring on board.
Create a Brief Executive Summary
“We’ve found time and time again that entrepreneurs begin those conversations by just ‘throwing up’ their entire business,” she said. “They tell the story of how great the business is and what they’re solving and what they’re doing and everyone who loves it.”
And that’s where most executives are wrong. Potential investors in your business only want to know why your idea or company deserves their support.
“Most entrepreneurs are so passionate about what they’re doing that they assume that everyone is going to embrace it in the same way that they do. They’re not thinking, ‘How do I explain my business in a way that others will understand?’” Nashif said.
If your idea is a good one, delivering your brief executive summary shouldn’t take you more than five minutes. You need to think how you can create a conversation with them, rather than your talking without making a point.
Throughout your conversation make sure your audience is still with you.
Nashif recommends asking questions such as, “Do you feel comfortable with the information I’m providing? Do you feel you have enough information to take this forward?”
Why is This Important?
As Nashif says, “You can’t adjust if you don’t check in.”
The best ideas are explained simply.
To create an effective brief executive summary, you need to summarize your idea in a few sentences.
Try this exercise at home before pitching your idea: Practice pitching to family members in just five minutes. Ask for honest feedback.
Did they understand what you said? What do you need to do to shorten your pitch, to make them understand your idea?
Want to know more about being brief? Check out The Brief Practitioner, an online course from The Brief Lab that teaches executives how to avoid information overload and become lean, effective leaders and communicators.