1. Arrange for an interview with the owner of a start-up business in your community. Ask the following questions and share your results with the class.

2. Imagine you’ve just stepped into the elevator of the hotel that is hosting a seminar you’re attending, “Funding for Continued Growth: Investors Meet One-on-One with Entrepreneurs.” The venture capitalist you really, really wanted to talk to about your business venture gets in at the same time. You have about 20 seconds to make a good impression. “Thank goodness for Jay,” you think. Jay is a friend who runs an animal training center. Jay always begins business introductions by saying, “Hi, I’m Jay Doe. I help pet-owners raise likeable pets. I work with people who want to avoid letting bad behaviors come between them and their friends, but don’t know where to start. As a result of working with me, my clients say they enjoy their pets so much more.” Jay encouraged you to plan out your elevator speech, a 15-second introduction of yourself and your company, before coming to the event. You take a semi-deep breath and start with, “Hello, my name is…”

3. Jay also encouraged you to have a business plan ready (yours is 30 pages). The venture capitalist you just met in the elevator gave you her business card, but she asked you to send over only your executive summary. She’s going to review it and then call to arrange a time to meet and discuss how she can help you grow your business. Good thing you have an executive summary that is clear, concise, and compelling; you really want to make a good first impression and “sell” your business idea. 

Search the Internet for two examples of executive summaries (use the key words “example executive summary” to get started). Print them out and then compare the executive summaries you found to the components of an excellent executive summary listed below. Rate each executive summary from 1 to 5, using a template like the one below, with 1 indicating that the summary does not incorporate the key components and 5 for a stellar example of one of the key components. Where applicable, label the portion of the executive summary with the corresponding letter of the component it meets.