closing statement example for business plan

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Closing Statement Example for Business Plan: Tips & Guide

Table of Contents

Your business plan’s closing statement is the last thing an investor will read, so it must be compelling enough to encourage them to invest. The final paragraph of your business plan should do two things. It should summarize the entire document and give the reader a better grasp of your company’s USPs (unique selling propositions). By using persuasive writing techniques and language, you can ensure your ending is as impactful and memorable as possible. To help get you started, this blog post will provide tips and an example of a successful closing statement for a business plan.

What Is a Business Plan?

A business plan is a comprehensive document that outlines a business’s strategy and operating procedures . It’s typically used to attract investors, secure funding, and provide direction for the business in the future. Typical components of a business plan include 

• An executive summary
• Market analysis overview
• Financial projections
• Details on how the company plans to achieve its stated objectives.

Tips on Writing a Conclusion for Your Business Plan

Your company’s closing statement in a business plan can inspire investors or motivate employees. It should offer a view into the future by stating your goals for the company’s growth and development.  Consider the following suggestions for concluding your business plan .

Proper Amount of Information

The final section of your business plan should include a concise summary of your essential ideas. Explain why your company will succeed and how you intend to get there. This business plan section is your last attempt to convince potential backers to put money into your venture. The final section of a company plan written for internal use can be more optimistic. You could mention your future goals for growth or expansion in this situation. This will help the audience understand the direction you envision the company heading. To win over investors, you might include the following in your final paragraph:

• The state of your company’s finances as of right now
• Money to help your business expand and thrive
• Customers and clients who fit your target demographic
• Demand from Consumers
• Particulars that set you apart from the competition
• Your strategy to boost revenue.
• Include the following in your conclusion to provide management with some insight into the future of the company:
• Details about your company’s past and its offerings
• Intentions for the long-term
• Future growth or expansion plans

These aren’t the only points that should be mentioned in a conclusion, but they’re among the most crucial.

Incorporate Data and Statistics

To make your case more convincing, you should use evidence like figures and facts. Doing so will strengthen your argument and leave the reader with a favorable impression of your company. Your company’s financial history and growth projections may help convince investors to invest in your company. Market share and customer happiness statistics can help reassure upper management that their company is on the right track.

Keep a Good Attitude

Avoid sounding pessimistic as you wrap things up. Avoid statements like “Despite our difficulties, I am certain that our business will be successful.” Don’t dwell on past failures, but rather on your company’s successes and future prospects.  Using phrases like “I am positive about the future of our company” will leave the reader with a favorable impression of your firm.

End With a CTA

The business plan’s final section should end with a call to action. In this section, you might argue why the reader should join your cause or invest in your business. Your stand must be a concise and direct call to action. Readers need to know exactly what you want them to do, and you need to convince them to do it.

Conclude and Reflect

After you’ve finished writing your conclusion, it’s essential to go back and read it over. Ensure that your point is made without ambiguity and that all relevant details are included. Ensure the tone is upbeat and cheerful, and check for spelling and grammatical problems. To attract investors, it’s essential to have a second pair of eyes look over the final draft of the business plan. Obtaining as much input as possible will help you ensure your argument is well-articulated and persuasive. After you’ve come to a satisfying conclusion, it’s time to move on to the next phase of your business plan.

Location: End of Document or Executive Summary?

Determine whether you want your business plan’s conclusion to appear at the end of the document or the executive summary. If you’re writing a business plan to attract investors or obtain funding, consider adding the conclusion to the executive summary.  Investors will likely skim the rest of your report before getting to your executive summary. Including it there is crucial to ensure they get your main points. Doing so will give your audience a clearer picture of where you are going with your argument.

Closing Statement Example for Business Plan

We are certain that ABC Corporation will become a key player in the XYZ industry due to our extensive market research and analysis. Our unique combination of innovative products and services, competitive pricing, and dedicated customer service makes us the go-to provider for ABC customers.  The funds we secure from this investment round will help us develop and improve our products and services. It will also finance our expansion into new markets.  With your support, we can make ABC Company the industry leader in XYZ. Thank you for considering our business plan and taking the time to learn more about our company. We look forward to working with you and exploring the potential of this partnership.  Thank you for your time.  Sincerely,  XYZ Team 

The closing statement example for business plan above is an excellent example of how a business model should end. It emphasizes the objective, progress, and, most significantly, the business owner’s commitment to its mission . In summary, the conclusion should restate your company’s value proposition and create a lasting impression on the reader.

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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Business Plan Conclusion: Summary & Recap

You’ve written your business plan, but now you want to wrap it up to make a lasting impact on your reader. In this article, we will define the conclusion to a business plan as well as provide some tips to help you attract and seal the deal with potential investors and lenders.  

What is a Business Plan Conclusion?

This business plan conclusion is a concise summary and recap of all of the components of a business plan , but especially the executive summary. It summarizes your business plan in 2-3 paragraphs, with an emphasis on the most important points.  

Download our Ultimate Business Plan Template here

Is the Business Conclusion Necessary?

It’s good practice for business plans, but not always necessary to be successful in obtaining funding.

If you have a stellar executive summary, it may be unnecessary.

If the business conclusion is written well enough, it can serve as an executive summary of sorts – a short recap that provides more detail than the business plan as a whole, but only includes the most important points. It could also serve as an executive summary that is more concise than an actual executive summary.  

How To Write a Conclusion for Your Business Plan

The conclusion of your business plan is the last thing people read before deciding to invest in you and your business, so it needs to make a lasting impression.  

Determine Location

Depending on your intended audience, there are two common places for the conclusion. If your plan is meant for internal purposes, you may have the conclusion at the end of the entire document. However, if you are seeking funds from investors, you want to place the conclusion at the end of the Executive Summary, increasing the chances that it is actually read.

Review & Concisely Recap 

    Finish Your Business Plan Today!

Startups might include the following information:.

• Funding requirements
• Service or benefit to the investor
• Target market and audience
• How products or services solve the target market’s problem
• Marketing strategy
• Competitive advantage
• Management team experience
• Financial projections
• Launch plan

Established businesses might include information in their conclusions such as:

• Mission statement
• Company’s history
• Products and/or services
• Historical growth data
• Financial summary
• Company’s goals

Summarize the 3-5 points in a couple of paragraphs. You don’t need to summarize everything that happened in your business plan, just the most important points of the business plan.

Support Your Claims with Stats and/or Visuals

Establish a Call-To-Action (CTA)

Proofread & Spell-Check

The conclusion needs to give your readers a sense of closure by wrapping up all loose ends while making your last pitch effort to obtain the money your business may need.

Business Plan Conclusion Example

Use this conclusion example to help you with how to end a business plan, but keep in mind to make it relevant to your target audience, industry, and funding requirements:

Expanding into the Seattle metro area will allow Skyridge to provide its cutting-edge technology to more people who need it. Purchasing the fabrication plant in Seattle allows us to produce all of our products in-house and in one location, delivering them promptly and efficiently to the northwestern region.

We have the power to change the way people use technology, and we want [Investor’s Name] to be a part of it. By investing in Skyridge’s growth, [Investor’s Name] will benefit in the following ways:

• Inclusion with a startup that has seen XXX% growth over the past X years and our company’s management team with XX years of experience in the technology industry
• Contribution to Seattle’s economic growth and its citizens’ access to technology that enhances their lives
• Participation in company planning meetings and receive an XX% share in all profits earned

We can add to the number of lives Skyridge’s technologies impact, generate more job opportunities in the region, and alter the technology sector if we work together. If you agree with our vision for a better future for everyone, join us.

How to Finish Your Business Plan in 1 Day!

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Related Articles To Help You Write a Business Plan

• How to Write an Executive Summary
• How to Expertly Write the Company Description in Your Business Plan
• How to Write the Market Analysis Section of a Business Plan
• The Customer Analysis Section of Your Business Plan
• Completing the Competitive Analysis Section of Your Business Plan
• How to Write the Management Team Section of a Business Plan + Examples
• Financial Assumptions and Your Business Plan
• How to Create Financial Projections for Your Business Plan
• Everything You Need to Know about the Business Plan Appendix

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Writing an Effective Business Plan Conclusion: Tips & Examples

Do you need help concluding the business plan that you have worked so hard to create? A well-crafted business plan conclusion is essential for setting the tone for the entire document, and summarizing the key points that justify why the business will be successful. In this article, we will explore how to write an effective business plan conclusion that will ensure that your plan is read and taken seriously.

How to End a Business Plan?

The conclusion of your business plan should briefly summarize the main points of your argument. It should state why you believe your business will succeed and explain how you intend to achieve your goals. A business plan conclusion should cover the opportunity, highlight the strengths of your plan, summarize your vision, and remind the reader why your business is in a unique position to succeed.

A template example of a solid business plan conclusion follows:

• Opportunity: Explain the opportunity that your business is capitalizing on and why it is attractive.
• Key Strengths: Highlight the key strengths of your plan, such as your competitive advantage and any unique selling points.
• Vision: Summarize your vision for the business and its future.
• Unique Position: Remind the reader why your business is in a unique position to succeed.

It is important to keep your business plan conclusion succinct and to the point. It should be no longer than a few paragraphs, and should be a clear and concise summary of the entire document.

At Atlantabusinesses.com, we understand how important it is to have a clear and effective business plan conclusion. We are experts in the field of business brokering, and we can help you through the entire process of buying or selling a business. Visit our website for more information, and for answers to all your questions about selling a business and about business brokers.

What is the final stage of the business plan?

Conclude your business plan with a presentation for obtaining funding, and provide any relevant data, graphs, and charts to back it up. Make it explicit how much money you are asking for from investors—whether it is equity, a collaboration, or a loan.

What is the appropriate way to conclude a business plan letter?

What should be included in the concluding section of a business plan.

It should also include a description of the problems you are trying to solve, a review of your marketing strategy, and an assessment of the financials. The best way to write an executive summary is to write it after you have a thorough understanding of your entire plan and can succinctly summarize it. The executive summary should include your company’s mission statement, a description of the products and services you offer or plan to offer, an overview of the problems you are aiming to solve, an assessment of your marketing strategy and an overview of the financials.

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How to Begin a Business's Closing Statement

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You just completed the bulk of your business plan, you’ve come to the end of an important business letter or are in the final stages of a critical sales presentation. Now it’s time to begin what is often the most important phase of a communication: your closing statements. Regardless of the format or topic of the communication, how you approach closing statements is critical to a successful outcome. Just as a well-developed closing statement leaves a strong positive impression, rushing through closing carries the potential to have an equally strong -- but negative -- ending.

Writing Closing Statements

Separate closing statements within a single paragraph or summary section. Effective closing statements should include concise, clear and common language. Stick to the facts, using a positive or neutral tone and a business-style voice. Although this is more difficult to achieve in a persuasive communication or sales presentation, beginning closing statements with emotionally charged language often results in closing statements that are less effective. In written communications, avoid using a complementary close such as “Very truly yours,” or “Kind regards.”

Closing a Business Plan

Closing statements for a business plan are part of the executive summary. Although written after you complete the plan, the executive summary is often the first section in a formal business plan. Though how you begin depends on whether you’re finishing a start-up or an existing business plan, every executive summary should include clear, concise wording and take up no more than one page. If the plan is for a new business start-up, begin an executive summary with statements focusing on why your business idea will be successful. If the plan is for an existing business, begin with statements focusing on accomplishments and growth plans.

Ending a Business Letter or Memo

Closing statements for business letters and memos range from a simple “thank you” to a specific call for action. Regardless of the purpose, begin closing statements with a short summary. Present information about actions taken or requested, relevant dates and deadlines in one or two brief sentences. A closing statement such as “Thank you for your attention to this matter” is an example of a simple closing statement. Begin a call for action with a statement such as “I would be glad to meet with you about...”

Closing a Sale or Business Presentation

Sales or business presentation statements are among the most difficult to begin. However, because clients or audience members are most likely to remember closing statements quite vividly, these are the most important part of your presentation. Start with a factual summary of the main points in your presentation. Whether the focus of the presentation is persuasive or informational, the goal is to leave the client or audience feeling satisfied the presentation achieved its main goals.

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Based in Green Bay, Wisc., Jackie Lohrey has been writing professionally since 2009. In addition to writing web content and training manuals for small business clients and nonprofit organizations, including ERA Realtors and the Bay Area Humane Society, Lohrey also works as a finance data analyst for a global business outsourcing company.

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• 1 The Objectives of a Sales Letter
• 2 What Is Important to Keep in Mind When Writing a Business Letter?
• 3 What Is the Appropriate Way to End a Business Letter?
• 4 Five Characteristics of Business Messages

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Sample Startup Business Plan Conclusion

We are confident that we can achieve our conservative financial projections, generating a gross revenue in excess of (enter projected revenues for year 1) in year one after the opening of the business.   In addition, our management has carefully considered its market, potential customer base, and its ability to grow its sales average to capture market share (in our area of business and abroad/in our area of business) . With our projected numbers and the total market share and revenue in the (enter company industry) industry, we confidently project over a (estimate the entity value in year 4) entity value in year four.

We firmly believe that our business has the potential to become a highly regarded resource in local and regional markets.  Due to the company’s aggressive marketing strategy as well as the careful development of company products and services,  the establishment of the company as a regarded entity in our industry is now within grasp.

(INCLUDE IF BUSINESS NEEDS AND INVESTOR OR LOAN) As owners, the Managers’ commitment is to take personal accountability for all financial debt. The Company has taken the necessary precautions to ensure the business is fully capitalized and has addressed all financial shortfalls to ensure a successful business expansion. Providing that the company is able to continue operations and fulfill requirements during our first year of operation, BUSINESS NAME will be able to secure repayment of the investment and achieve operational success for many years to come.

In all the above we intend to communicate our ability to serve our community or customers with products and services that will satisfy & exceed our customers’ needs and wants. All the above promotional tools that we have mentioned throughout the plan shall be well integrated and utilized in tandem so as to maximize their effect.

Entrepreneurs have a tendency to paint any business plan with a very optimistic brush, highlighting strengths and camouflaging the risks. The Company Managers, as business owners, have a vested stake and financial commitment in the success of this business. The Company has taken all precautions to validate the Company business and financial models, focusing on realistic projections.  If you have any questions, please contact the Founders directly.

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The Consultants at Cervitude IR help entrepreneurs and executives from around the world by developing first class business plans to launch and expand their businesses. Learn more about our business planning services .  In you are looking for our startup business planning services, click here .

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How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

• The business goals
• Methods to achieve the goals
• Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

• How do you want to reach your target audience?
• How do you plan to retain your customers?
• What is/are your pricing plans?
• What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

• A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
• Contain your Mission Statement which explains what the main objective or focus of your business is.
• Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
• The Team. Basic information about your company’s leadership team and employees
• Business Concept. A solid description of what your business does.
• Target Market. The customers you plan to sell to.
• Marketing Strategy. Your plans on reaching and selling to your customers
• Current Financial State. Brief information about what revenue your business currently generates.
• Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

• Who is your target audience?
• What sector or industry are you in?
• What are your products and services?
• What is the future of your industry?
• Is your company scaleable?
• Who are the owners and leaders of your company? What are their backgrounds and experience levels?
• What is the motivation for starting your company?
• What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

• What products and services you will provide
• Geographical markets and locations your company have a presence
• What you need to run your business
• Who your target audience or customers are
• Who will service your customers
• Your company’s purpose, mission, and vision
• Information about your company’s founders
• Who the founders are
• Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

• Who are you targeting? (The answer is not everyone)
• What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
• How does your product or service overcome that pain point?
• Where is the location of your business?
• What products, equipment, and services do you need to run your business?
• How is your company’s product or service different from your competition in the eyes of your customers?
• How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

• Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

• Founding Date
• Major Milestones
• Location(s)
• Flagship Products or Services
• Number of Employees
• Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

• Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

• Your target market’s needs or pain points
• The existing solutions for their pain points
• Geographic Location
• Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

• Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
• Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
• Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
• Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

• Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
• Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
• Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
• Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
• Market Share Potential: Does your business stand a good chance of taking a good share of the market?
• Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
• Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
• Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

• Is your product or service of superior quality?
• What additional features do you offer that your competitors do not offer?
• Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

• What are your successful competitors doing?
• Why is what they are doing working?
• Can your business do it better?
• What are the weaknesses of your successful competitors?
• What are they not doing well?
• Can your business turn its weaknesses into strengths?
• How good is your competitors’ customer service?
• Where do your competitors invest in advertising?
• What sales and pricing strategies are they using?
• What marketing strategies are they using?
• What kind of press coverage do they get?
• What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

• Who are the key leaders?
• What experiences, skills, and educational backgrounds do you expect your key leaders to have?
• Do your key leaders have industry experience?
• What positions will they fill and what duties will they perform in those positions?
• What level of authority do the key leaders have and what are their responsibilities?
• What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

• A detailed explanation that clearly shows how your product or service works.
• The pricing model for your product or service.
• Your business’ sales and distribution strategy.
• The ideal customers that want your product or service.
• The benefits of your products and services.
• Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
• Plans for filling the orders you receive
• If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

• Unique features
• Translating the unique features into benefits
• The emotional, psychological, and practical payoffs to attract customers
• Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

• Upsells, cross-sells, and down-sells
• Time between purchases
• Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

• The creation of new or existing products and services.
• The sources for the raw materials or components you need for production.
• Assembling the products
• Maintaining quality control
• Supply-chain logistics (receiving the raw materials and delivering the finished products)
• The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

• Are your products existing on the market or are they still in the development stage?
• What is your timeline for adding new products and services to the market?
• What are the positives that make your products and services different from your competitors?
• Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
• Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
• How much does it cost to produce your products or services? How much do you plan to sell it for?
• What is the price for your products and services compared to your competitors? Is pricing an issue?
• What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
• What is your plan for acquiring your products? Are you involved in the production of your products or services?
• Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
• Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
• How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

• What are the unique features or benefits that you offer that your competitors lack?
• What are your customers’ primary needs and wants?
• Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
• How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

• Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
• Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
• Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

• Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
• Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
• Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

• Is your choice of packaging consistent with your positioning strategy?
• What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
• How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

• What makes your competition successful?
• What are their weaknesses?
• What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

• What is your company’s budget for sales and marketing campaigns?
• What key metrics will you use to determine if your marketing plans are successful?
• What are your alternatives if your initial marketing efforts do not succeed?
• Who are the sales representatives you need to promote your products or services?
• What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
• Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

• Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
• Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
• Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
• Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
• Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
• Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
• Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
• Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

• What is your sales forecast for the next year?
• When will your company achieve a positive cash flow?
• What are the core expenses you need to operate?
• How much money do you need upfront to operate or grow your company?
• How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

• Additional data about the process of manufacturing or creation
• Additional description of products or services such as product schematics
• Additional financial documents or projections
• Articles of incorporation and status
• Backup for market research or competitive analysis
• Bank statements
• Business registries
• Client testimonials (if your business is already running)
• Copies of insurances
• Credit histories (personal or/and business)
• Deeds and permits
• Equipment leases
• Examples of marketing and advertising collateral
• Industry associations and memberships
• Images of product
• Intellectual property
• Key customer contracts
• Legal documents and other contracts
• Letters of reference
• Links to references
• Market research data
• Organizational charts
• Photographs of potential facilities
• Professional licenses pertaining to your legal structure or type of business
• Purchase orders
• Resumes of the founder(s) and key managers
• State and federal identification numbers or codes
• Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

• A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
• A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
• A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

• Table of contents
• Introduction
• Product or service description
• Target audience
• Market size
• Competition analysis
• Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

• Business opportunity
• Company description
• Industry analysis
• Target market
• Implementation timeline
• Marketing plan
• Financial summary
• Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

• The Business Profile
• The Vision and the People
• Home-Based Business and Freelance Business Opportunities
• Organization
• Licenses and Permits
• Business Insurance
• Communication Tools
• Acquisitions
• Location and Leasing
• Accounting and Cash Flow
• Opening and Marketing
• Managing Employees
• Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

• Executive Summary
• Company Description
• Service Line
• Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

• Executive summary
• Business description
• Products and services
• Operations plan
• Management organization
• Financial plan
• Conclusion / Call to action
• Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

• Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
• Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
• The Product’s Value Propositions: What does your product do? How will it be different from other products?
• Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
• Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
• Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
• Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
• Cost Structure: What is the estimated cost of production? How much will distribution cost?
• Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

• Problem: Simple and straightforward number of problems you have identified, ideally three.
• Solution: The solutions to each problem.
• Unfair Advantage: Something you possess that can't be easily bought or replicated.
• Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

• Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
• Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
• Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
• Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
• Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
• Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
• Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
• Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
• Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
• Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
• Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
• Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

• Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
• Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
• Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
• Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time.  They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans.  A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs.  Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

• 12 Key Elements of a Business Plan (Top Components Explained)
• 13 Sources of Business Finance For Companies & Sole Traders
• 5 Common Types of Business Structures (+ Pros & Cons)
• How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

Business Closing Letter Templates & Tips to Ease You Through the Process

Show up for your clients one last time by learning how to write a solid business closure letter.

There's a lot to cross off your list when you're closing a business. From processing your emotions to updating your clientele, it's easy to miss things along the way. Let us help take some of the stress away with our business closing letter templates and tips. It might feel like you're in this alone, but remember that you don't have to be. There's help waiting around the corner if you take the chance to look. 

Business Closing Letter Templates

As you get everything in order, the two main groups whom you need to notify about your impending closure are your customers and suppliers. These separate letters may take on a slightly different tone depending on your rapport with each. Here are two sample letters for these specific audiences. To make things even easier, each template is a customizable PDF document that you can save and print as needed.

• What Does It Mean if My IRS Tax Refund Is Under Review

Related:  Basic Business Letter Format + Writing Tips and Examples

Customer Notification Letter 

This template will help you deliver the news to your beloved customers. Prepare for a range of emotions as you may learn how important your business was to others in the community. You may also get some heartening well wishes for your future endeavors. If your business deals in items that still need to be delivered to your clients, this is a helpful letter to send. They need to know everything about the timeline of when they can expect to receive their products, if you'll be issuing refunds, and so on. 

Supplier Notification Letter 

The suppliers and vendors you work with to keep your business running should be notified, too. This template is set up to let suppliers know that your organization will be ceasing operations. You'll want to provide sufficient notice so everyone can get the books settled, their final account invoices  sent over, and all payments sent or received. The last thing you want is to be scrambling to get things settled at the end. 

These form letters cover the basics — but they're not entirely comprehensive. Consider your business and the pieces of information that might be pertinent to add. Remember that every business closure is different! 

Why You'd Write a Business Closure Letter

Before you hang a 'closed' sign on your door, you'll send a business closure letter to those most closely involved. A formal letter is the standard here. After all, these are the folks who have been key players in your business activities. They are the ones who purchased your products and services and, in the case of suppliers, provided you with products and services that were instrumental in your business operations. So as one of your final acts of customer service for this specific venture, you'll need to give them advance notice that your business will close.

Business closure letters aren't just goodbye notes, but they're also legal protection. Sending one of these with ample notice protects you from potential lawsuits by suppliers or disgruntled customers. 

How to Perfectly Time Your Closure Notice 

When's the perfect time to send the letter? Well, that depends. If your closure came out of nowhere and took you by surprise, you'll want a moment to digest the news. And you want to offer your customers and vendors the same courtesy. The sooner the better is often the best answer, but again...it depends on the situation.

Notify Customers as Soon as Possible 

If you want to avoid speculation, notifying customers as soon as possible is ideal. Plus, these folks are the lifeline of your business — you wouldn't want them to show up to a shuttered shop. Having notice reinforces your gratitude for your customers' past support and gives them the chance to conduct any necessary final business transactions with you.

In general, consider mailing a closing notification letter at least 30 days before the closure date. For example, a service business like as a dry cleaner or repair shop will need to give customers enough time to come in and pick up their belongings. A retail business will probably want to leave lots of time for a sale to reduce its inventory, with the business closure letter being released before the sale begins.

Give Suppliers Ample Notice 

When it comes to suppliers, you may want to give even more lead time. It's generally best to inform suppliers of your intent to close at least 60 days before your final date of operation. This will allow enough time for accounts to be settled and closed. Word might start getting out though, so you may want to consider alerting both suppliers and customers at the same time.

If you're selling a business and plan to open a related new business immediately after, you may want to minimize the amount of time between sending out the two. 

What to Communicate in Your Letter

The main point of a business closure letter is to clearly express the details of your business closure and to sincerely thank the client for their business or service. These letters don't need to be long to be effective. 

Consider including these elements in your business closure letter. 

• Tell the customer or supplier the date the business will close
• Inform the customer or supplier of anything they need to do (such as pick up their dry cleaning, pay off their outstanding bill, or come in for the going-out-of-business sale)
• Tell the customer or supplier where to direct their questions
• Thank the customer or supplier for their business

The letter doesn't have to give a reason why you're closing down. If the reason is good news, such as retirement, you may decide to include it in the letter. Otherwise, it's usually best to concentrate the letter on subjects that are important to the client, like what they need to do and by when.

Share the Letter on Social Media

Snail mail is a classic way to share the news of the closure, and we still think this is the way to go for your clients and suppliers. But it's also a great idea to notify folks through social media, especially if your business communicated with folks this way. You can include all these tips in a newsletter emailed to customers as well.

These are some things to consider when sharing closure notices on social media. 

• Share a copy of the note to customers but add some information about suppliers as well since many may also be reading
• For the supplier part, focus only on how you've appreciated them over the years — keep the business portion to the snail mail letter
• Add a meaningful photo to connect with your audience
• Tailor the notice to be a bit more informal, possibly including fun memories and events from over the years 
• Announce a closing party/sales event if it's something you're planning

Finish Things off on a High Note 

Endings aren't easy, even if they're happy. The most important thing when you're closing a business is to end your business relationships on a positive note. Show your gratitude for those who helped keep your business running, and you'll feel the love sent right back to you. And sending out a solid business closure letter is just a great way to show up for your clients one last time.   

Closing Statement

Closing statement generator.

In every formal occasion or any particular event, there is always that opening statement to welcome guests and participants. It allows the host to bring out a vibrant and lively spirit from everybody. However, another important part of an event is the closing ceremony. And it is imperative that you give a statement.

Whether your objective is to close the event with a happy or sad tone, it is up to you. The most important thing is that you properly close the occasion in a very memorable way. A personal statement would do as long as as it contains the essence of the affair.

What is a Closing Statement?

A closing statement is the final opportunity in a speech, debate, or legal trial for the speaker or attorney to summarize their position, reiterate key points, and make a lasting impression on the audience or jury. It’s designed to convincingly conclude the presentation of one’s case or argument, ideally swaying the outcome in their favor.

How to write a Closing Statement?

Writing a closing statement involves summarizing your arguments, reinforcing your main points, and leaving a lasting impression on your audience. Whether for a legal case, a debate, or a presentation, follow these steps to craft an effective closing statement:

1. Review Your Main Arguments

• Begin by revisiting the main points of your case or presentation. Identify the key arguments that are most compelling and supportive of your conclusion.

2. Outline Your Closing Statement

• Create an outline that logically organizes your final arguments. This should include an introduction that restates your thesis, a summary of key points, refutation of counterarguments, and a concluding appeal or call to action.

3. Restate Your Thesis or Position

• Open your closing statement by clearly restating your thesis or the position you are advocating for. This reminds your audience of the central issue at hand.

4. Summarize Key Points and Evidence

• Briefly recap the most persuasive points and evidence you presented. Highlight how this evidence supports your thesis, aiming to strengthen your argument in the minds of your audience.

5. Address and Refute Counterarguments

• Acknowledge any opposing viewpoints or evidence and provide a concise rebuttal. This demonstrates the thoroughness of your argument and your confidence in its validity.

6. Make an Emotional or Logical Appeal

• Depending on your audience and the nature of your argument, make a final appeal to emotion, logic, or ethics. Use storytelling, vivid imagery, or compelling facts to connect with your audience on a deeper level.

7. Conclude with a Strong Call to Action or Final Thought

• End your closing statement with a powerful call to action or a thought-provoking statement. This should encapsulate the essence of your argument and motivate your audience toward your desired outcome.

8. Practice Your Delivery

• If you will be delivering your closing statement orally, practice your delivery focusing on tone, pace, and body language. A confident and clear delivery can significantly enhance the impact of your words.

9. Review and Revise

• Review your closing statement for clarity, coherence, and impact. Make necessary revisions to ensure it is concise, persuasive, and leaves no room for doubt in your audience’s mind.

Structure of Closing Statement

• Greeting and Gratitude: Begin with a polite greeting and express gratitude towards the audience, jury, or judges for their attention.
• Restatement of Thesis/Position: Clearly restate the thesis or your main position to remind the audience of the core argument.
• Summary of Key Points: Succinctly summarize the main arguments or evidence presented, highlighting how they support your thesis.
• Refutation of Counterarguments: Briefly address and refute any counterarguments or opposing views to strengthen your position.
• Emotional Appeal: Include a personal story or an emotional appeal to humanize your argument and connect with the audience on a deeper level.
• Call to Action: Clearly state what you want the audience, jury, or judges to do or believe after hearing your statement.
• Closing Remarks: End with a powerful concluding sentence or phrase that encapsulates the essence of your argument and leaves a lasting impression.
• Thank You: Conclude by thanking the audience once again for their time and consideration.

Purpose of Closing Statement

The purpose of a closing statement encompasses several key objectives, each aimed at solidifying the speaker’s position and persuading the audience. Here are the main purposes outlined in points:

• Summarize the Argument : To concisely recap the main points or evidence presented, making the overall argument easier for the audience to remember and understand.
• Reinforce Key Messages : To emphasize the strongest parts of the argument or presentation, ensuring these elements are fresh in the audience’s mind.
• Address Counterarguments : To revisit and refute any counterarguments or opposition, strengthening the speaker’s position and credibility.
• Persuade the Audience : To sway the audience or jury towards the speaker’s viewpoint, using logical reasoning, emotional appeals, or ethical considerations.
• Provide a Clear Conclusion : To offer a definitive stance or resolution, leaving no ambiguity about the speaker’s position or recommended course of action.
• Call to Action : To motivate the audience towards a specific action or change in perspective, directly stemming from the argument’s conclusions.
• Leave a Lasting Impression : To conclude on a memorable note, ensuring the audience retains the core message and feels compelled to consider or act upon it.

Impact of Closing Statement

The impact of a closing statement, when well-crafted, can be profound and multifaceted. Here are some key points highlighting its significance:

• Persuasion : A compelling closing statement can sway the opinions of an audience or jury, tipping the scales in favor of the presenter’s argument or case.
• Memorability : It ensures that the core message and key points are memorable, leaving a lasting impression on the audience long after the speech or trial has concluded.
• Clarity : Provides a clear and concise summary of the arguments presented, helping the audience to understand the central thesis or the legal case’s merits.
• Emotional Engagement : By tapping into the emotions of the audience, a closing statement can forge a stronger connection, making the argument more impactful.
• Reinforcement of Evidence : It reinforces the evidence or key points presented throughout, solidifying the strength of the argument or case.
• Counteraction of Opposition : Addresses and counteracts any opposing arguments or evidence, reinforcing the presenter’s position as the more credible or persuasive one.
• Call to Action : A well-crafted closing statement can effectively motivate the audience to take a desired action or change their perspective on the issue.

Closing Statement vs HUD-1 Settlement Statement

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What to Know before Drafting a Closing

Before drafting a closing statement, whether for a legal case, debate, presentation, or any other scenario where a persuasive summary is crucial, here are key points to consider:

• Understand Your Audience : Know the preferences, biases, and level of understanding of your audience. This knowledge will help tailor your closing to resonate and be persuasive.
• Reiterate Key Points : Identify the core arguments, evidence, and points you’ve presented. These should be the foundation of your closing, summarized clearly and compellingly.
• Address Counterarguments : Be prepared to refute any opposing views or counterarguments that have arisen. Showing how your arguments withstand criticism strengthens your position.
• Emotional Appeal : Consider the emotional aspects of your argument. An effective closing often includes an appeal to the audience’s emotions, making your final statement more impactful.
• Clear Call to Action : If applicable, include a specific call to action. Tell your audience exactly what you want them to think, feel, or do after hearing your statement.
• Structure and Flow : Plan a logical structure for your closing that starts strong, builds momentum, and ends with a powerful conclusion. A well-structured closing enhances understanding and retention.
• Practice Delivery : The impact of a closing statement can be significantly affected by how it’s delivered. Practice your tone, pace, and gestures to ensure they contribute positively to your message.
• Legal and Ethical Considerations : In legal contexts, ensure your closing statement complies with all relevant laws and ethical guidelines. Avoid making unsubstantiated claims or misrepresenting the evidence.
• Closing Visuals or Documents : If you’re using visual aids or documents (like a PowerPoint presentation or handouts), ensure they are clear, professional, and reinforce your message.
• Anticipate Questions or Reactions : Think ahead about potential questions or reactions from your audience. Being prepared will help you respond more effectively during or after your closing.

Real Estate Closing Statement Form Template

Real Estate Closing Statement Template

Informal Closing Statement

Real Estate Closing

Anatomy of Closing Statement

Landlord Tenant Closing

How to Start a Closing Statement

An effective statement is the one that could capture the hearts of the audience and stir their emotions. To start a closing statement, you need to put an emphasis on the objective statement or essence of the event. If the occasion is a wedding, remind the audience or listeners about love and how marriage should be guided by it.

Connect with the people by using emotional words or probably use lines from famous personalities. In addition to that, follow it up with some words of gratitude to everyone who joined and participated in the event. Do not forget to mention names of  people who have contributed to the success of the event.

Is a Closing Statement the Same Thing as a Settlement Statement?

Before we answer this very intriguing question, let us first define what a settlement statement is. A settlement statement is a document that contains the summary of any relevant charges and fees in a transaction between a seller and a buyer particularly in a purchase of a property.

A closing statement, however, can be applied in various ways. It can be used to close an event or a transaction. It can be used as a speech. In truth, they are closely the same in consideration of its use in a business transaction. A closing statement can be used to close out any deals or agreements between a tenant and a landlord to settle any remaining debts and can be used in consolidation with an income statement .

Composite Closing Statement

Sworn Closing Statement

Draft Closing Sample

Seller Closing

How to Begin a Business Closing Statement

When you are dealing with business, it is always imperative that you should be professional. You have to use appropriate language with utmost formality like when you write a business statement . When you write a closing statement for a business, you need to bear in mind the main objective of the business.

What Does the Closing Statement Contain?

• Summary of Key Points : A concise recap of the most compelling arguments or evidence presented, emphasizing how they support the overall case or thesis.
• Refutation of Counterarguments : Addresses and counters any opposing views or arguments, reinforcing the strength and validity of the presenter’s position.
• Highlight of Evidence : A reminder of the pivotal pieces of evidence or testimony that significantly support the case, focusing on their impact and relevance.
• Emotional Appeal : Incorporates a strategic appeal to the audience’s emotions, aiming to connect on a human level and reinforce the moral or ethical righteousness of the presenter’s stance.
• Call to Action : Clearly defines what the speaker desires from the audience post-presentation, which could be a verdict, a change in perspective, or a specific action.
• Thanking the Audience : A polite acknowledgment of the audience’s time and attention, enhancing goodwill and leaving a positive impression.
• Strong Conclusion : A powerful and memorable closing line or paragraph that encapsulates the essence of the argument, designed to linger in the audience’s mind.

Final Word on Closing Statements

Closing statements are pivotal moments in any argumentative or persuasive context, encapsulating the essence of the argument, reinforcing key points, and leaving a lasting impression on the audience. An effective closing statement should summarize the presented evidence, address counterarguments, and clearly articulate the central thesis or call to action. It’s not just a summary but a final opportunity to persuade, engage, and influence the audience’s decision or perspective. The art of crafting a compelling closing lies in the ability to distill complex information into a clear, impactful message that resonates emotionally and intellectually with the audience. In essence, a well-delivered closing statement can be the deciding factor in swaying an audience, making it a crucial skill in legal practice, public speaking, and beyond.

Going Deeper: Ways to Improve the Closing Argument:

Improving the closing argument, whether in a legal case, debate, presentation, or any persuasive discourse, is essential for ensuring that your final appeal is compelling and effective. Here are strategies to enhance the impact of your closing argument:

1. Anchor on the Strongest Points

Focus on the most convincing evidence and arguments you have presented. Emphasize these points again in your closing to remind the audience of their significance and solidify your position.

2. Tell a Story

People remember stories far better than abstract arguments. Weave your points into a narrative that illustrates the impact, relevance, or truth of your argument. This approach can make your closing more engaging and memorable.

3. Appeal to Emotions Wisely

While logical arguments are crucial, an emotional appeal can be a powerful persuader. Connect with your audience on an emotional level by highlighting the human aspect of your argument but do so in a way that complements the logical foundation of your case.

4. Refute Counterarguments

Anticipate and address the strongest counterarguments that could undermine your position. Demonstrating how your argument withstands these challenges reinforces its strength and persuasiveness.

5. Use Repetition for Emphasis

Repetition can reinforce key themes and messages. Strategically repeating your most vital points in different ways helps ensure that your audience retains them.

6. Simplify Complex Ideas

Break down complex arguments into clear, understandable elements. A closing argument that is easy to follow is more likely to be convincing.

7. End with a Strong Call to Action

Be clear about what you want your audience to think, feel, or do after hearing your argument. A compelling call to action can motivate your audience towards the desired outcome.

8. Practice Delivery

The impact of your closing argument can be significantly affected by delivery. Practice your pacing, tone, and gestures to ensure they enhance rather than detract from your message.

9. Utilize Pauses Effectively

Strategic pauses can give your audience time to absorb important points and add dramatic effect to your delivery, making your argument more impactful.

10. Personalize Your Appeal

Make your closing argument relatable to your audience by personalizing your appeal. Showing how your argument directly affects or relates to your listeners can increase engagement and persuasion.

What Do You Put in a Closing Statement?

A closing statement includes a summary of key points, a rebuttal to counterarguments, a final emotional or logical appeal, and a clear, compelling call to action or conclusion to reinforce your argument or standpoint.

What Is Another Name for a Closing Statement?

Another name for a closing statement is a “concluding argument” or “final argument,” both terms frequently used in legal contexts and public speaking to describe the last opportunity to persuade the audience.

Is a Closing Statement a Legal Document?

No, a closing statement is not a legal document. It is a verbal or written argument used in various contexts, including legal trials, debates, and presentations, to summarize and conclude an argument or case.

How Do You Write a Killer Closing Statement?

Writing a killer closing statement involves summarizing key points compellingly, addressing and refuting counterarguments, making a memorable final appeal, and ending with a strong, persuasive call to action or impactful statement.

What Is a Powerful Ending Statement?

A powerful ending statement is a memorable and impactful conclusion that resonates with the audience, reinforcing the speaker’s message and leaving a lasting impression that encourages reflection or action.

What Does a Closing Statement Look Like?

A closing statement typically looks like a structured summary that revisits the main arguments, counters opposing views, emphasizes the strongest points, and concludes with a powerful, final message or call to action.

What Can’t You Say in a Closing Statement?

In a closing statement, you should avoid introducing new evidence, making personal attacks, straying from the facts or evidence presented, or using disrespectful or unprofessional language.

What Is a Good Closing Statement for a Letter?

A good closing statement for a letter is courteous and reflects the tone of the letter, such as “Sincerely,” for formal letters, or “Best regards,” for less formal correspondence, followed by your name. This allows you to recall the most important points and once again put an emphasis on it. The reason for this is that in a business dealing, there is a certainty that you will encounter a lot of ideas. So it is important to highlight the important ones on the closing statement.

Text prompt

• Instructive
• Professional

Craft a compelling closing statement for a mock trial.

Analyze the effectiveness of a famous speech's closing statement.

Write a closing statement summarizing your argument on climate change.

Develop a closing statement for a debate on online education.

Create a closing statement for a persuasive essay on recycling

Reflect on the impact of closing statements in legal dramas

Construct a closing statement for a presentation on renewable energy.

Draft a closing statement for an argument against fast fashion.

Design a powerful closing statement for an advocacy campaign

Evaluate the role of emotion in a politician's closing statement.

How to Write a Conclusion for a Business Plan?

The conclusion of your business plan should summarize your overall argument for why your business will be successful to attract investors or inspire your employees. It should also provide a brief glimpse into the future, outlining your plans for expansion and growth. Finally, the conclusion should reiterate the unique selling points of your business and leave the readers with a positive impression.

Here are some tips on writing a conclusion for your business plan.

Table of Contents

1. Decide Where You Want it to be Placed

2. put the right information, 3. make it convincing by adding facts and statistics, 4. maintain a positive tone, 5. end with a call to action, 6. review your conclusion, business plan conclusion example, final thought.

Decide whether you want the conclusion of your business plan to be at the end of the complete document or at the end of the executive summary. Consider adding the conclusion at the end of the executive summary if you’re writing a business plan to attract investors or raise funds. The executive summary is typically the first thing investors will read, so adding the conclusion there will ensure that they see your most important points.

If you’re writing the business plan for internal purposes, such as to guide decision-making or track progress, then you may want to place the conclusion at the end of the complete document. This will allow readers to see the full context of your argument before reaching the conclusion.

The conclusion of your business plan should briefly summarize the main points of your argument. It should state why you believe your business will be successful and how you plan to achieve your goals. If you’re writing the business plan for investors, this is your chance to make a final pitch for why they should invest in your company.

If you’re writing the business plan for internal purposes, the conclusion can be more forward-looking. In this case, you may want to include your plans for expansion or growth. This will give readers a sense of where you see the business going in the future.

For example, your conclusion should put this information if you want to convince investors:

• Current financial situation of your company
• The needed funds for your company growth and expansion
• Your target market and customers
• Customers’ demand
• How you make a difference from your competitors
• The plan to increase your sales

And if you want to give managers an idea of where the company is headed, your conclusion should include:

• Your company history and products
• Future goals and objectives
• Plans for expansion or growth
• Timeline for achieving these goals

Not all conclusions need to include all of this information, but these are some of the most important points to include.

Reinforce your argument by adding some facts and statistics to back up your claims. This will make your conclusion more convincing and leave the reader with a positive impression of your business.

For example, if you’re trying to convince investors that your business is a good investment, you might include information about your company’s past financial performance or projections for future growth. If you’re trying to convince managers that your company is headed in the right direction, you might include information about your market share or customer satisfaction rates.

Keep the tone of your conclusion positive and optimistic. This will leave the reader with a good impression of your business and make them more likely to invest in or support your company.

For example, avoid phrases like “Even though we’ve had some setbacks, I’m confident that our business will be successful.” Instead, focus on the positive aspects of your business and your plans for the future. Phrases like “I’m confident that our business will be successful” or “I believe in our company’s potential” will leave the reader with a positive impression of your business.

The conclusion of your business plan should include a call to action. This is your opportunity to convince the reader to invest in or support your company.

For example, if you’re writing a business plan for investors, you might say something like “I invite you to invest in our company and join us on this exciting journey.” If you’re writing the business plan for internal purposes, you might say something like “I invite you to join me in working towards these exciting goals.”

This call to action should be brief and to the point. It should be clear what you’re asking the reader to do, and it should be convincing enough to make them want to do it.

After you’ve written your conclusion, take a step back and review what you’ve written. Make sure that your argument is clear and that all of the important information is included. Check for any typos or grammatical errors, and make sure that your tone is positive and optimistic.

If you’re writing the business plan for investors, ask someone else to read your conclusion and give you feedback. It’s important to make sure that your argument is clear and convincing, so get as much feedback as you can.

Once you’re happy with your conclusion, you’re ready to move on to the next section of your business plan.

Here’s an example of a conclusion for a business plan:

“The company’s management is optimistic that it will be able to meet its aggressive sales targets, with total sales of $10 Million, $15 Million, and $20 Million in 2022, 2023, and 2024, respectively.

Furthermore, we have carefully analyzed its market, potential clients, and ability to increase its sales and market share in our industry. The Company has the potential to provide high ROE to potential investors due to its unique selling point that meets customers’ demand, aggressive marketing strategy, and makes a difference from competitors.

The management team invites you to invest in the company and join us on this exciting journey. With your support, we believe that we can achieve our goals and create shareholder value. Thank you for your time and consideration.

The Company will need to raise early money in order to become an industry leader. This money will go toward startup expenditures, building a legitimate storefront, and expanding the company’s infrastructure, product development, and marketing.

The company will be able to achieve its success in 3 years based on the funding requirements.

Assuming all goes according to plan, the management team is confident that it will be able to generate significant returns for its investors.”

The conclusion of your business plan is your opportunity to briefly summarize your company and its potential for success. It should include information about your current financial situation, your target market, and your plans for expansion or growth. You should also include some facts and statistics to back up your claims. Keep the tone positive and optimistic, and end with a call to action.

With this information, hope you can write a convincing conclusion that will leave the reader eager to invest in or support your company.

Jessica D. Davis

My name is Jessica D. Davis, as a writer and editor, I'd like to create a place where other writers and I can talk about business, investing, health, career, lifestyle, home improvement and other topics.

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30 Examples: How to Conclude a Presentation (Effective Closing Techniques)

By Status.net Editorial Team on March 4, 2024 — 9 minutes to read

Ending a presentation on a high note is a skill that can set you apart from the rest. It’s the final chance to leave an impact on your audience, ensuring they walk away with the key messages embedded in their minds. This moment is about driving your points home and making sure they resonate. Crafting a memorable closing isn’t just about summarizing key points, though that’s part of it, but also about providing value that sticks with your listeners long after they’ve left the room.

Crafting Your Core Message

To leave a lasting impression, your presentation’s conclusion should clearly reflect your core message. This is your chance to reinforce the takeaways and leave the audience thinking about your presentation long after it ends.

Identifying Key Points

Start by recognizing what you want your audience to remember. Think about the main ideas that shaped your talk. Make a list like this:

• The problem your presentation addresses.
• The evidence that supports your argument.
• The solution you propose or the action you want the audience to take.

These key points become the pillars of your core message.

Contextualizing the Presentation

Provide context by briefly relating back to the content of the whole presentation. For example:

• Reference a statistic you shared in the opening, and how it ties into the conclusion.
• Mention a case study that underlines the importance of your message.

Connecting these elements gives your message cohesion and makes your conclusion resonate with the framework of your presentation.

30 Example Phrases: How to Conclude a Presentation

• 1. “In summary, let’s revisit the key takeaways from today’s presentation.”
• 2. “Thank you for your attention. Let’s move forward together.”
• 3. “That brings us to the end. I’m open to any questions you may have.”
• 4. “I’ll leave you with this final thought to ponder as we conclude.”
• 5. “Let’s recap the main points before we wrap up.”
• 6. “I appreciate your engagement. Now, let’s turn these ideas into action.”
• 7. “We’ve covered a lot today. To conclude, remember these crucial points.”
• 8. “As we reach the end, I’d like to emphasize our call to action.”
• 9. “Before we close, let’s quickly review what we’ve learned.”
• 10. “Thank you for joining me on this journey. I look forward to our next steps.”
• 11. “In closing, I’d like to thank everyone for their participation.”
• 12. “Let’s conclude with a reminder of the impact we can make together.”
• 13. “To wrap up our session, here’s a brief summary of our discussion.”
• 14. “I’m grateful for the opportunity to present to you. Any final thoughts?”
• 15. “And that’s a wrap. I welcome any final questions or comments.”
• 16. “As we conclude, let’s remember the objectives we’ve set today.”
• 17. “Thank you for your time. Let’s apply these insights to achieve success.”
• 18. “In conclusion, your feedback is valuable, and I’m here to listen.”
• 19. “Before we part, let’s take a moment to reflect on our key messages.”
• 20. “I’ll end with an invitation for all of us to take the next step.”
• 21. “As we close, let’s commit to the goals we’ve outlined today.”
• 22. “Thank you for your attention. Let’s keep the conversation going.”
• 23. “In conclusion, let’s make a difference, starting now.”
• 24. “I’ll leave you with these final words to consider as we end our time together.”
• 25. “Before we conclude, remember that change starts with our actions today.”
• 26. “Thank you for the lively discussion. Let’s continue to build on these ideas.”
• 27. “As we wrap up, I encourage you to reach out with any further questions.”
• 28. “In closing, I’d like to express my gratitude for your valuable input.”
• 29. “Let’s conclude on a high note and take these learnings forward.”
• 30. “Thank you for your time today. Let’s end with a commitment to progress.”

Summarizing the Main Points

When you reach the end of your presentation, summarizing the main points helps your audience retain the important information you’ve shared. Crafting a memorable summary enables your listeners to walk away with a clear understanding of your message.

Effective Methods of Summarization

To effectively summarize your presentation, you need to distill complex information into concise, digestible pieces. Start by revisiting the overarching theme of your talk and then narrow down to the core messages. Use plain language and imagery to make the enduring ideas stick. Here are some examples of how to do this:

• Use analogies that relate to common experiences to recap complex concepts.
• Incorporate visuals or gestures that reinforce your main arguments.

The Rule of Three

The Rule of Three is a classic writing and communication principle. It means presenting ideas in a trio, which is a pattern that’s easy for people to understand and remember. For instance, you might say, “Our plan will save time, cut costs, and improve quality.” This structure has a pleasing rhythm and makes the content more memorable. Some examples include:

• “This software is fast, user-friendly, and secure.”
• Pointing out a product’s “durability, affordability, and eco-friendliness.”

Reiterating the Main Points

Finally, you want to circle back to the key takeaways of your presentation. Rephrase your main points without introducing new information. This reinforcement supports your audience’s memory and understanding of the material. You might summarize key takeaways like this:

• Mention the problem you addressed, the solution you propose, and the benefits of this solution.
• Highlighting the outcomes of adopting your strategy: higher efficiency, greater satisfaction, and increased revenue.

Creating a Strong Conclusion

The final moments of your presentation are your chance to leave your audience with a powerful lasting impression. A strong conclusion is more than just summarizing—it’s your opportunity to invoke thought, inspire action, and make your message memorable.

Incorporating a Call to Action

A call to action is your parting request to your audience. You want to inspire them to take a specific action or think differently as a result of what they’ve heard. To do this effectively:

• Be clear about what you’re asking.
• Explain why their action is needed.
• Make it as simple as possible for them to take the next steps.

Example Phrases:

• “Start making a difference today by…”
• “Join us in this effort by…”
• “Take the leap and commit to…”

Leaving a Lasting Impression

End your presentation with something memorable. This can be a powerful quote, an inspirational statement, or a compelling story that underscores your main points. The goal here is to resonate with your audience on an emotional level so that your message sticks with them long after they leave.

• “In the words of [Influential Person], ‘…'”
• “Imagine a world where…”
• “This is more than just [Topic]; it’s about…”

Enhancing Audience Engagement

To hold your audience’s attention and ensure they leave with a lasting impression of your presentation, fostering interaction is key.

Q&A Sessions

It’s important to integrate a Q&A session because it allows for direct communication between you and your audience. This interactive segment helps clarify any uncertainties and encourages active participation. Plan for this by designating a time slot towards the end of your presentation and invite questions that promote discussion.

• “I’d love to hear your thoughts; what questions do you have?”
• “Let’s dive into any questions you might have. Who would like to start?”
• “Feel free to ask any questions, whether they’re clarifications or deeper inquiries about the topic.”

Encouraging Audience Participation

Getting your audience involved can transform a good presentation into a great one. Use open-ended questions that provoke thought and allow audience members to reflect on how your content relates to them. Additionally, inviting volunteers to participate in a demonstration or share their experiences keeps everyone engaged and adds a personal touch to your talk.

• “Could someone give me an example of how you’ve encountered this in your work?”
• “I’d appreciate a volunteer to help demonstrate this concept. Who’s interested?”
• “How do you see this information impacting your daily tasks? Let’s discuss!”

Delivering a Persuasive Ending

At the end of your presentation, you have the power to leave a lasting impact on your audience. A persuasive ending can drive home your key message and encourage action.

Sales and Persuasion Tactics

When you’re concluding a presentation with the goal of selling a product or idea, employ carefully chosen sales and persuasion tactics. One method is to summarize the key benefits of your offering, reminding your audience why it’s important to act. For example, if you’ve just presented a new software tool, recap how it will save time and increase productivity. Another tactic is the ‘call to action’, which should be clear and direct, such as “Start your free trial today to experience the benefits first-hand!” Furthermore, using a touch of urgency, like “Offer expires soon!”, can nudge your audience to act promptly.

Final Impressions and Professionalism

Your closing statement is a chance to solidify your professional image and leave a positive impression. It’s important to display confidence and poise. Consider thanking your audience for their time and offering to answer any questions. Make sure to end on a high note by summarizing your message in a concise and memorable way. If your topic was on renewable energy, you might conclude by saying, “Let’s take a leap towards a greener future by adopting these solutions today.” This reinforces your main points and encourages your listeners to think or act differently when they leave.

Frequently Asked Questions

What are some creative strategies for ending a presentation memorably.

To end your presentation in a memorable way, consider incorporating a call to action that engages your audience to take the next step. Another strategy is to finish with a thought-provoking question or a surprising fact that resonates with your listeners.

Can you suggest some powerful quotes suitable for concluding a presentation?

Yes, using a quote can be very effective. For example, Maya Angelou’s “People will forget what you said, people will forget what you did, but people will never forget how you made them feel,” can reinforce the emotional impact of your presentation.

What is an effective way to write a conclusion that summarizes a presentation?

An effective conclusion should recap the main points succinctly, highlighting what you want your audience to remember. A good way to conclude is by restating your thesis and then briefly summarizing the supporting points you made.

As a student, how can I leave a strong impression with my presentation’s closing remarks?

To leave a strong impression, consider sharing a personal anecdote related to your topic that demonstrates passion and conviction. This helps humanize your content and makes the message more relatable to your audience.

How can I appropriately thank my audience at the close of my presentation?

A simple and sincere expression of gratitude is always appropriate. You might say, “Thank you for your attention and engagement today,” to convey appreciation while also acknowledging their participation.

What are some examples of a compelling closing sentence in a presentation?

A compelling closing sentence could be something like, “Together, let’s take the leap towards a greener future,” if you’re presenting on sustainability. This sentence is impactful, calls for united action, and leaves your audience with a clear message.

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• What is Problem Solving? (Steps, Techniques, Examples)
• 2 Examples of an Effective and Warm Letter of Welcome
• 8 Examples of Effective Interview Confirmation Emails

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9 Closing a Speech: End with Power and Let Them Know It is Time to Clap

Open Your Speech With a Bang Close It With a Slam-Dunk Westside Toastmasters

“Great is the art of beginning, but greater is the art of ending,” according to poet Henry Wadsworth Longfellow. The first few words of your speech make the audience want to listen and the last few sentences help them decide what they feel about you and your topic. In this chapter, I will explain the function of a conclusion, the format of a conclusion, and I will give you numerous examples of ways to end your speech. Most of this chapter is dedicated to showing you good examples of different types of speech closings. Let’s get started by talking about the purpose of the closing.

A Strong Closing Does Many Things

• Summarizes the points. By restating your points your audience is more likely to remember them.
• Tells the audience when to clap. Let’s face it, it is so awkward when you are done with your speech, and no one claps. Being clear the end is near, relieves the audience of the pressure of wondering if they are clapping at the right time.
• Provides resolution. Your speech should give the audience a sense of resolve or a sense of being challenged.

The Formula for Closing Most Speeches

• Transition statement to ending.
• Review the main points–repeat the thesis.
• If it is a persuasive speech, tell the audience what you want them to do or think.
• Provide a closing statement.

Restate the Thesis

Tell them what you are going to say, say it, tell them what you have said. This speech pattern is useful in most types of speeches because it helps the speaker to remember your key points. As you build your closing, make sure you restate the thesis. A good rule of thumb is to write it in such a way that if the audience were asked to restate the main points, their answer would match closely with your thesis.

EXAMPLE Watch as Stella Young gives her thesis and then restates her thesis at the end of the speech as she wraps up. The thesis of the talk in the introduction: We’ve been sold the lie that disability is a Bad Thing, capital B, capital T. It’s a bad thing, and to live with a disability makes you exceptional. It’s not a bad thing, and it doesn’t make you exceptional. Restates the thesis of the talk at the closing: Disability doesn’t make you exceptional but questioning what you think you know about it does.

Stella Young, I’m not your inspiration, thank you very much. https://www.youtube.com/watch?v=GtPGrLoU5Uk

This next example is from a student’s speech. It is easy to pull out one sentence that clearly summarizes the main points of her speech. Following her summary, she winds the speech down into a thoughtful conclusion and ends with three powerful words.

Now is the time to separate the war on drugs from the war on addiction. T oday you’ve heard the problems, impacts, and solutions of criminalizing addictions. Bruce Callis is 50 years old now. And he is still struggling with his addiction. while you all are sitting out there listening to this, I’m living with it. Bruce Callis is my father and for my entire life, I have watched our misguided system destroy him. The irony here is that we live in a society where we are told to recycle. We recycle paper, aluminum, and electronics. But why don’t we ever consider recycling them most precision think on Earth– the human life. Student Tunnette Powell, Winner of the 2012 Interstate Oratorical Association Contest.

Closing Phrases

After you restate your thesis, you should carefully deliver your closing phrases.  Your closing should provide a resolution to your speech and/or it should challenge the audience. Frantically Speaking writer Hrideep Barot suggests  “a conclusion is like tying a bow or ribbon to a box of your key ideas that your audience will be taking along with them.”

A speech closing is not just about the words you say, but it is also the way you say it. Change the pace near the end of your speech. Let your tone alone should signal the end is near. It is about deliberate voice control, don’t let your voice weakly away.

In the next section, I will cover these ways to end your speech:

End with powerful words End with a quote End with a graphic End with parallel construction End on a positive note End with a challenge End with a question End with inspiration End with well-wishing End with humor End with a call to action End with a feeling of resolve End with a prop

The best way to teach you about advanced closings is to show not tell. For this section, I will briefly explain each type of closing and then provide a video. Each video is queued so you can play the video and watch the closing statement.  I included a transcript under each video if you want to follow along.  It will be most beneficial for you to watch the clip and not just read the text. By watching, you will have a chance to hear the subtle changes in the speaker’s voice as they deliver their closing statements.

End with Powerful Words

As you design your closing, look at the last three to five words and examine them to see if they are strong words. Oftentimes, you can rearrange a sentence to end with a powerful word. (I have the video cued to play just the closing)

Watch this clip for how BJ Miller ends with a powerful thought and a powerful word. 

Parts of me died early on, and that’s something we can all say one way or another. I got to redesign my life around this fact, and I tell you it has been a liberation to realize you can always find a shock of beauty or meaning in what life you have left, like that snowball lasting for a perfect moment, all the while melting away. If we love such moments ferociously, then maybe we can learn to live well — not in spite of death, but because of it. Let death be what takes us, not lack of imagination. BJ Miller, What Really Matters at the End of Life

End by Circling Back to the Opening

Another type of ending is to circle back to what you said in the beginning. You can revisit a quote, share the end to an illustration that was begun in the beginning, or you can put away a prop you got out in the beginning.

Watch this clip for how Zubing Zhang begins and ends with the same quote to circle back around to the main idea. 

She starts by telling a story of bungee jumping off the world’s highest platform and how she saw a sign with a quote that says, “Life begins at the edge of your comfort zone.” After telling her own story about pushing her emotional limits, she circles back around at the end by saying, “As the words said high on the bungee platform, “Life begins at the edge of your comfort zone.”

Yubing Zhang, Life Begins at the End of Your Comfort Zone. 

End With Quote

If you end your speech with a quote, attend to the following.

• Always say the author of the quote before the quote for example, “I want to leave you with a leadership quote ‘What you do has far greater impact than what you say,’ Steven Covey.” The problem with this ending is that “Stephen Covey” are the last two words of the speech and that is boring. Consider instead this ending. “I think Robin Sharma said it best ‘Leadership is not about a title or a designation. It’s about impact, influence, and inspiration.'” In this arrangement, the last three words are powerful–influence and inspiration.
• Provided context for the quote before or after. Make sure the quote is meaningful and not just an easy way to end.

Watch this clip for how Sir Ken Robinson ends with a quote. Notice how he says the author and then the quote.

Also, notice how he then ties his speech to the quote with a final few sentences and ends with the powerful word–“revolution” and how he uses a strong vocal emphasis as he says his last word. (I have the video cued to play just the closing)

There’s a wonderful quote from Benjamin Franklin. “There are three sorts of people in the world: Those who are immovable, people who don’t get it, or don’t want to do anything about it; there are people who are movable, people who see the need for change and are prepared to listen to it; and there are people who move, people who make things happen.” And if we can encourage more people, that will be a movement. And if the movement is strong enough, that’s, in the best sense of the word, a revolution. And that’s what we need.

Sir Ken Robinson, How to Escape Education’s Death Valley. 

End with a Graphic

You might want to use a visual to make your final point. Bringing in a picture, graphic, or object, reengages the audience to pay attention to your final ideas.

Watch this clip for how Barry Schartz uses the magic words “so to conclude” and then he creatively uses a picture of a fishbowl to narrow in on his point. Notice how his final word is spoken with urgency as he says “disaster.” (I have the video cued to play just the closing)

 So, to conclude. (He shows a picture of fish in a fishbowl) He says, “You can be anything you want to be — no limits.” You’re supposed to read this cartoon and, being a sophisticated person, say, “Ah! What does this fish know? Nothing is possible in this fishbowl.” Impoverished imagination, a myopic view of the world –that’s the way I read it at first. The more I thought about it, however, the more I came to the view that this fish knows something. Because the truth of the matter is, if you shatter the fishbowl so that everything is possible, you don’t have freedom. You have paralysis. If you shatter this fishbowl so that everything is possible, you decrease satisfaction. You increase paralysis, and you decrease satisfaction. Everybody needs a fishbowl. This one is almost certainly too limited –perhaps even for the fish, certainly for us. But the absence of some metaphorical fishbowl is a recipe for misery and, I suspect, disaster. Barry Schwartz, The Paradox of Choice

End with Parallel Construction

Parallel construction is a series of repeated phrases. It can be a powerful tool to use in a persuasive speech as it creates a feeling of importance.

Watch this clip for how Malala Yousafzai ends with a series of parallel statements to build momentum. Notice how her pace perfectly matches her words and you feel her strength when she ends with “education first.” (I have the video cued to play just the closing)

Dear brothers and sisters, we must not forget that millions of people are suffering from poverty, injustice, and ignorance. We must not forget that millions of children are out of schools. We must not forget that our sisters and brothers are waiting for a bright peaceful future. So let us wage a global struggle against illiteracy, poverty, and terrorism, and let us pick up our books and pens. They are our most powerful weapons. One child, one teacher, one pen, and one book can change the world. Education is the only solution. Education First.

Malala Yousafzai,  United Nations Youth Assembly

End on a Positive Note

Audiences are constantly evaluating a speaker to determine their attitude and motivation. As you consider your speech closing, ask yourself what type of impression do you want to leave?  Do you want to leave them with depression or hope? Sadness or promise? Most of the time, audiences will receive messages that end positively better than speeches that end negatively.

In this speech sample, Hans Rosling showed the audience some hard statistics and he even pointed fingers at the audience as part of the problem. To help them hear his main point, he wisely ends on a positive note.

Watch this clip for how Hans Rosling ends this thought-provoking talk on a positive note. (I have the video cued to play just the closing)

Now, when thinking about where all this leaves us, I have just one little humble advice for you, besides everything else, look at the data. Look at the facts about the world and you will see where we are today and how we can move forwards with all these billions on our wonderful planet. The challenge of extreme poverty has been greatly reduced and it’s for the first time in history within our power to end it for good. The challenge of population growth is, in fact, already being solved, the number of children has stopped growing.  And for the challenge for climate change, we can still avoid the worst, but that requires the richest, as soon as possible, find a way to use their set their use of resources and energy at a level that, step by step, can be shared by 10 billion or 11 billion by the end of this century. I’ve never called myself an optimist, but I do say I’m a possibilist and I also say the world is much better than many of you think.

Hans Rosling, Facts about the Population.

End with a Challenge

Leave the audience with a doable personal challenge. Help them mentally make sense of all the information that you shared by helping them know how to file it away and how to use it.

Watch this clip for how Melissa Butler ends with a challenge. (I have the video cued to play just the closing)

So, I challenge each of you, when you go home today, look at yourself in the mirror, see all of you, look at all of your greatness that you embody, accept it, and love it. And finally, when you leave the house tomorrow, try to extend that same love and acceptance to someone who doesn’t look like you . Melissa Butler, Why You Think You’re Ugly. 

Watch this clip as Darren LaCroix literally falls face down to anchor the point that when we fall, we “fall forward.” (I have the video cued to play just the closing)

Darren LaCroix talks about taking risks and falling down and getting back up, he literally and purposefully falls down during his speech and ends this way: What’s your next step… take it. I didn’t want to look back at my life and say you know I never did try that comedy thing, but I died debt-free. All of us are headed toward that goal we are going to teach a point where we get stuck and our feet are like in cement and we can’t move but we’re so afraid of that ouch but we forget that if we lean forward and take a risk–(He falls face down) and we fall on our face. When we get up, notice, you still made progress. So please, with me, go ahead and fall. But fall forward. Darren LaCroiz, Winning Speech delivered at National Speech Association

End with a Question

Asking a question at the end is one way to reengage the audience. It helps them think about what your topic might mean for them.

Watch this clip for how David Eagleman reminds us about why his topic is important and then ends with a question. Notice how he pauses before his final question and how he changes the pace of his speech for the final sentence. (I have the video cued to play just the closing)

So I think there’s really no end to the possibilities on the horizon for human expansion. Just imagine an astronaut being able to feel the overall health of the International Space Station, or, for that matter, having you feel the invisible states of your own health, like your blood sugar and the state of your microbiome, or having 360-degree vision or seeing in infrared or ultraviolet. So the key is this: As we move into the future, we’re going to increasingly be able to choose our own peripheral devices. We no longer have to wait for Mother Nature’s sensory gifts on her timescales, but instead, like any good parent, she’s given us the tools that we need to go out and define our own trajectory. So the question now is, how do you want to go out and experience your universe?

David Eagleman, Can We Create New Senses for Humans? 

Watch this clip for how Lera Boroditsky ends with a personal note and a  powerful final question. (I have the video cued to play just the closing)

I want to leave you with this final thought. I’ve told you about how speakers of different languages think differently, but of course, that’s not about how people elsewhere think. It’s about how you think. It’s how the language that you speak shapes the way that you think. And that gives you the opportunity to ask, “Why do I think the way that I do?” “How could I think differently?” And also,  “What thoughts do I wish to create?” Lera Boroditsky, How Language Shapes the Way We Think

End with Inspiration

“Inspiring your audience is all about helping them see their own vision, not yours.”

You may want to end your speech with inspiring and encouraging words. Pick words that resonate with most of your audience and deliver them in such a way that your audience feels your lift in emotion.

Watch this clip for how Chimamanda Ngozi Adichie ends with an inspiring final note and a powerful last few words “regain a kind of paradise” (I have the video cued to play just the closing)

Stories matter. Many stories matter. Stories have been used to dispossess and to malign, but stories can also be used to empower and humanize. Stories can break the dignity of a people, but stories can also repair that broken dignity.

I would like to end with this thought:   That when we reject the single-story,   when we realize that there is never a single story   about any place,   we regain a kind of paradise.

Chimamanda Ngozi Adichie,  The Danger of a Single Story  

Watch this clip for how Dan Pink ends with an inspiring final note. (I have the video cued to play just the closing) Let me wrap up. There is a mismatch between what science knows and what business does. Here is what science knows. One: Those 20th century rewards, those motivators we think are a natural part of business, do work, but only in a surprisingly narrow band of circumstances. Two: Those if-then rewards often destroy creativity. Three: The secret to high performance isn’t rewards and punishments, but that unseen intrinsic drive– the drive to do things for their own sake. The drive to do things cause they matter.

And here’s the best part. We already know this. The science confirms what we know in our hearts. So, if we repair this mismatch between what science  knows and what business does, if we bring our motivation, notions of motivation into the 21st century, if we get past this lazy, dangerous, ideology of carrots and sticks, we can strengthen our businesses, we can solve a lot of those candle problems, and maybe, maybe — we can change the world. I rest my case. Dan Pink, The Puzzle of Motivation

End with Well Wishing

There are several types of closings where the speaker wished the audience well.

The Benediction Close: M ay God bless and keep you…. The Presidential Close: God bless you and may God bless the USA The Congratulatory Close: I congratulate you on your accomplishment and wish you continued success. 

End with Humor

You can end on a fun lighthearted note. It is important to always run your humor by a variety of people to make sure you are funny, and your humor is appropriate.

Watch this clip for how Andrew Dunham uses humor throughout his speech and ends with a funny one-liner. (I have the video cued to play just the closing)

I wish you all the best as we begin this journey on our paths and I sincerely hope and pray that your time and success have proven to be as memorable and spiritually rewarding as mine. If not, there’s always summer school.

Andrew Dunham, Valedictorian Comes Out As Autistic During Speech

End with a Call to Action

If you are delivering a persuasive speech, let the audience know exactly what you want them to do.

End with a Feeling of Resolve

Paul Harvey made famous the line “And now you know…the rest of the story.” Your closing should allow us to know the rest of the story or to know how a situation was resolved.

Watch this clip for how Lucy Hone ends this tough but inspiring talk with a feeling of resolve (I have the video cued to play just the closing)

https://youtu.be/9-5SMpg7Q0k?t=913 If you ever find yourself in a situation where you think there’s no way I’m coming back from this, I urge you to lean into these strategies and think again. I won’t pretend that thinking this way is easy and it doesn’t remove all the pain. But if I’ve learned anything over the last five years, it is that thinking this way really does help. More than anything it has shown me that  it is possible  to live and grieve at the same time. And for that I will be always grateful. Lucy Hone, The Three Secrets of Resilient People

End with a Prop

Nancy Duarte says you should give your audience, SOMETHING THEY  will ALWAYS REMEMBER–S.T.A.R. One way to do that is with an action or statement that will have the audience talking about it for a long time. President Obama did it with a mic drop.

Memorize Your Conclusion

End on time.

Do not diminish the effect of a great speech with a bloated, aimless conclusion. Dan Rothwell.

“Times about up.”

Don’t end with any references to time. It is like a giant stop sign saying, “stop listening.”  Don’t highlight that you ran over time or that it is almost time for lunch. You want them to think about your speech, not the clock.

“Any Questions?”

You want them to feel a sense of closure for your speech.  End with something powerful and let them applaud.  After the applause, you can offer to answer questions. Similarly, projecting your last slide with the words, “Any Questions” is a weak ending.

“Let Me Add This Point I Missed”

If you forget something in the body of your speech, it is usually best to leave it out.  Most of the time you are the only one who will miss it.

“Thank You to the Team”

There is a time to thank the organizers and those who helped you but it is not at the end of your speech. Your focus should be on your audience and what they need and what they need to hear is your idea.  Send a thank you letter to the team if you want them to feel your appreciation.

“I’m Sorry”

“Sorry again for the technology issue,” “I apologize for going over time, ” “I regret I have no answer to this.” These are all negative phrases.  Keep to your topic that is what they need to hear and stay focused.

“I’ll Close with this Video”

No, you should close with talking about the big idea.

If you don’t have a plan at the end, you will ramble. “Steer clear of meandering endings they kill a story,” according to the Moth Storytelling website. “Your last line should be clear in your head before you start. Yes, bring the audience along with you as you contemplate what transpires in your story, but remember, you are driving the story, and must know the final destination. Keep your hands on the wheel!”

To Thank or Not to Thank, That is the Question

There is a debate amongst speech professionals, speech teachers, and speech coaches about whether or not you should thank the audience. Here are their main arguments.

Why You Should Not Say Thank You

• You want to end with powerful words. “Thank you” are not strong words.
• The recency effect suggests they will remember the last words you spoke. You want them to remember more than just “thank you.”
• It is not a very creative way to end.
• It can be a sign of a lazy speaker, “I have no idea how to end this, I’ve run out of good things to say so I’ll say ‘Thank you’ so you will clap now.”

Why You Should Say Thank You

• It has come to be the expected ending in many settings. Violating their expectations can cause them to have a negative reaction.
• It clearly signals you are finished so the audience knows when to clap. The relieves the pressure from both you and the audience.
• It expresses gratitude.

I will leave it up to you to decide what works for you. As for me, I plan on trying to find more creative ways to end other than just saying “thank you.”

Maximizing the Primacy Recency Effect

If I were to read you a list of thirty things on my grocery list and then asked you to list all that you can remember, chances are you would remember the first times on the list and the last items on the list ( and any ones you found interesting from the middle). When people engage in listening, they tend to remember the first and last things they hear, it is called the primacy-recency effect. T his is just one more reason that your introduction and conclusion should be so well planned out. It is those first words and last words that the audience is going to remember. 

The primacy recency effect influences, not only what people pay attention to in a speech, but also which speech we pay the most attention to in a series of speeches. For example, if there is a lineup of six speakers, the first and last speakers tend to get the most attention.

As a speaker, you can use this information to your advantage by volunteering to go first or last. If you are giving a long presentation, you can break it up by allowing the audience to move around or talk to a neighbor. When you come back from break, you have re-engaged that primacy effect and moved them back to a high state of attention.

Do You Have Everything You Need for a Strong Closing?

• Have I signaled my speech is coming to an end with my words or my voice?
• Have I restated my main points?
• If I am persuading my audience, do they know what I want them to do or think?
• Have I written the last three to five words in such a way that I end with powerful words?
• Have I memorized my closing?

Getting Off the Platform is Part of Your Closing

Plan on making a strong exit. Whether you are stepping off a stage or simply going to your seat, you should consider that the audience is watching you.

I have had students who finished their speech and then walked over to the trashcan and in a large, exaggerated movement, they threw their notecards in the trash. In our minds, we threw their message away with those cards. I’ve seen speakers, sit in their chairs and then announce, “I can’t believe my hands were shaking so much.” I’ve sat there and thought, “I didn’t notice.” I then realized that the comments they made influenced my perception of them and my perception of their topic.

You said your last word and the audience is applauding, now what? Look at your audience and smile and nod in appreciation before walking off the stage. If you will be answering questions, wait until after the applause stops to begin your question and answering period.

When practicing your speech, it is a good idea to start from your chair, walk up to a spot and then give your speech, and then walk back to your chair and sit down. Your “speech” impression begins and ends from your chair.

Key Takeaways

Remember This!

• A speech closing should include a review of the main points and a purposeful closing sentence.
• Persuasive speech endings should tell the audience specifically what they should do or think about.
• The recency effect suggests that people remember the most recent things they have heard which is one reason the closing is so important.
• Chance the pace of your speech and the tone of your voice to signal the end of the speech.

Please share your feedback, suggestions, corrections, and ideas.

I want to hear from you. 

Do you have an activity to include? Did you notice a typo that I should correct? Are you planning to use this as a resource and do you want me to know about it? Do you want to tell me something that really helped you?

Click here to share your feedback. 

Adichie, C.N. (2009). The danger of a single story. [Video]. YouTube https://www.youtube.com/watch?v=D9Ihs241zeg Standard YouTube License.

Anderson, C. (2016). TED talks: The official TED guide to public speaking. Mariner Books.

Barot, H.  Fifteen powerful speech ending lines (and tips to create your own). Frantically Speaking. https://franticallyspeaking.com/15-powerful-speech-ending-lines-and-tips-to-create-your-own/

Boroditsky, L. (2017). How language shapes the way we think.  https://www.ted.com/talks/lera_boroditsky_how_language_shapes_the_way_we_think  Standard Youtube License. 

Butler, M. (2018). Why you think you’re ugly. [Video]. YouTube  https://www.youtube.com/watch?v=imCBztvKgus  Standard YouTube License. 

Dunham. A. (2019). Valedictorian comes out as autistic during speech. [Video]. YouTube  https://www.youtube.com/watch?v=GtPGrLoU5Uk  Standard Youtube License. 

Eagleman, D. (2015). Can we create new senses for humans?[Video]. YouTube  https://youtu.be/4c1lqFXHvqI  Standard YouTube License. 

Hone, L. (2019).  The three secrets of resilient people. [Video]. YouTube  https://youtu.be/NWH8N-BvhAw  Standard YouTube License. 

Jeff, P. (2009). Ten ways to end your speech with a bang. http://sixminutes.dlugan.com/10-ways-to-end-your-speech

Jobs, S. (2005). You’ve got to find what you love. https://news.stanford.edu/2005/06/14/jobs-061505/

Khanna, P. (2016). Let the head of TED show you how to end your speech with power. https://www.fastcompany.com/3059459/let-the-head-of-ted-show-you-how-to-end-your-speech-with-p

Karia, A. (2013). How to open and close a TED talk (or any other speech or presentation). https://akashkaria.com/wp-content/uploads/2014/01/HowtoOpenandCloseaTEDTalk.pdf

LaCroix, D. (2001). World champion of public speaking. [Video]. YouTube  https://www.youtube.com/watch?v=FUDCzbmLV-0  Standard YouTube License. 

Mandela, N. (2011). Speech from the dock in the Rivonia trial.[Video]. YouTube https://www.nelsonmandela.org/news/entry/i-am-prepared-to-die  Standard YouTube License. 

Mandela, N. (1994). Presidential Inaugural Speech. [Video]. YouTube  https://www.americanrhetoric.com/speeches/nelsonmandelainauguralspeech.htm  Standard YouTube License. 

Miller, B.J. (2015). What really matters at the end of life. [Video]. YouTube  https://www.ted.com/talks/bj_miller_what_really_matters_at_the_end_of_life?language=en  Standard YouTube License. 

Moth. (2021). Storytelling tips and tricks: How to tell a successful story. https://themoth.org/share-your-story/storytelling-tips-tricks 

Obama, B. (2016). White House correspondents dinner. [Video]. YouTube  https://www.youtube.com/watch?v=NxFkEj7KPC0  Standard YouTube License. 

Pink, D. (2009). The puzzle of motivation. [Video]. YouTube  https://www.ted.com/talks/dan_pink_the_puzzle_of_motivation  Standard YouTube License. 

Rothwell, D. (2014). Practically Speaking. Oxford University Press.Robinson, K. (2013). How to escape education’s death valley. [Video]. YouTube  https://www.youtube.com/watch?v=wX78iKhInsc  Standard YouTube License. 

Rosling, H. (2014). Don’t Panic-Hans Rosling showing the facts about population.[Video]. YouTube https://www.youtube.com/watch?v=FACK2knC08E  Standard YouTube License. 

Schwartz, B. (2005). The paradox of choice. [Video]. YouTube  https://www.ted.com/talks/barry_schwartz_the_paradox_of_choice  Standard YouTube License. 

Toastmasters International. (2016). Concluding your Speech. https://www.toastmasters.org/Resources/Concluding-Your-Speech

Young, S. (2014). I’m not your inspiration, thank you very much. [Video]. YouTube  https://www.youtube.com/watch?v=GtPGrLoU5Uk  Standard YouTube License. 

Yousafzai, M. (2013). Malala Yousafzai addresses United Nations Youth Assembly. [Video]. YouTube https://youtu.be/3rNhZu3ttIU  Standard YouTube License. 

Zhang, Y. (2015). Life begins at the end of your comfort zone. [Video]. YouTube https://www.youtube.com/watch?v=cmN4xOGkxGo  Standard YouTube License. 

Media Attributions

• Audience clapping © Alex Motoc is licensed under a CC BY (Attribution) license
• jose-aragones-81QkOoPGahY-unsplash © Jose Aragones is licensed under a CC BY (Attribution) license

Advanced Public Speaking Copyright © 2021 by Lynn Meade is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License , except where otherwise noted.

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100+ Closing Statements Examples (Long + Short)

When it comes to concluding a meeting, presentation, or conversation, having a strong closing statement can help to leave a lasting and positive impression. Whether you are a professional, such as an executive in a company , a teacher , a manager , or a student, being able to close an interaction effectively can showcase confidence, competency, and reliability. Here are 100 closing statements examples that you can add to your email or speech by coping or use as an inspiration to craft your own.

Closing statements examples

1. I thank you for the opportunity of discussing this issue and I hope we have reached a satisfying conclusion.

2. I believe we have, through our careful consideration, made the best decision.

3. On behalf of both parties, I would like to express my sincere appreciation for your assistance in this matter.

4. With gratitude for your time, I bid you farewell.

5. We have reached a satisfactory conclusion, which allows us all to move forward.

6. As we close this matter, I would like to thank you for your diligence and patience.

7. I appreciate your valued input and I look forward to our continued collaboration.

8. Thank you all for your help and I look forward to continuing this relationship in the future.

9. I believe we have discussed the issue thoroughly and we can go forward confidently in our agreement.

10. We are grateful for the support and guidance you have provided and thank you for your tireless efforts.

More closing statements examples on the next page…

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• How to write an executive summary, with ...

How to write an executive summary, with examples

The best way to do that is with an executive summary. If you’ve never written an executive summary, this article has all you need to know to plan, write, and share them with your team.

What is an executive summary?

An executive summary is an overview of a document. The length and scope of your executive summary will differ depending on the document it’s summarizing, but in general an executive summary can be anywhere from one to two pages long. In the document, you’ll want to share all of the information your readers and important stakeholders need to know.

Imagine it this way: if your high-level stakeholders were to only read your executive summary, would they have all of the information they need to succeed? If so, your summary has done its job.

You’ll often find executive summaries of:

Business cases

Project proposals

Research documents

Environmental studies

Market surveys

In general, there are four parts to any executive summary:

Start with the problem or need the document is solving.

Outline the recommended solution.

Explain the solution’s value.

Wrap up with a conclusion about the importance of the work.

What is an executive summary in project management?

In project management, an executive summary is a way to bring clarity to cross-functional collaborators, team leadership, and project stakeholders . Think of it like a project’s “ elevator pitch ” for team members who don’t have the time or the need to dive into all of the project’s details.

The main difference between an executive summary in project management and a more traditional executive summary in a business plan is that the former should be created at the beginning of your project—whereas the latter should be created after you’ve written your business plan. For example, to write an executive summary of an environmental study, you would compile a report on the results and findings once your study was over. But for an executive summary in project management, you want to cover what the project is aiming to achieve and why those goals matter.

The same four parts apply to an executive summary in project management:

Start with the problem or need the project is solving.  Why is this project happening? What insight, customer feedback, product plan, or other need caused it to come to life?

Outline the recommended solution, or the project’s objectives.  How is the project going to solve the problem you established in the first part? What are the project goals and objectives?

Explain the solution’s value.  Once you’ve finished your project, what will happen? How will this improve and solve the problem you established in the first part?

Wrap up with a conclusion about the importance of the work.  This is another opportunity to reiterate why the problem is important, and why the project matters. It can also be helpful to reference your audience and how your solution will solve their problem. Finally, include any relevant next steps.

If you’ve never written an executive summary before, you might be curious about where it fits into other project management elements. Here’s how executive summaries stack up:

Executive summary vs. project plan

A  project plan  is a blueprint of the key elements your project will accomplish in order to hit your project goals and objectives. Project plans will include your goals, success metrics, stakeholders and roles, budget, milestones and deliverables, timeline and schedule, and communication plan .

An executive summary is a summary of the most important information in your project plan. Think of the absolutely crucial things your management team needs to know when they land in your project, before they even have a chance to look at the project plan—that’s your executive summary.

Executive summary vs. project overview

Project overviews and executive summaries often have similar elements—they both contain a summary of important project information. However, your project overview should be directly attached to your project. There should be a direct line of sight between your project and your project overview.

While you can include your executive summary in your project depending on what type of  project management tool  you use, it may also be a stand-alone document.

Executive summary vs. project objectives

Your executive summary should contain and expand upon your  project objectives  in the second part ( Outline the recommended solution, or the project’s objectives ). In addition to including your project objectives, your executive summary should also include why achieving your project objectives will add value, as well as provide details about how you’re going to get there.

The benefits of an executive summary

You may be asking: why should I write an executive summary for my project? Isn’t the project plan enough?

Well, like we mentioned earlier, not everyone has the time or need to dive into your project and see, from a glance, what the goals are and why they matter.  Work management tools  like Asana help you capture a lot of crucial information about a project, so you and your team have clarity on who’s doing what by when. Your executive summary is designed less for team members who are actively working on the project and more for stakeholders outside of the project who want quick insight and answers about why your project matters.

An effective executive summary gives stakeholders a big-picture view of the entire project and its important points—without requiring them to dive into all the details. Then, if they want more information, they can access the project plan or navigate through tasks in your work management tool.

How to write a great executive summary, with examples

Every executive summary has four parts. In order to write a great executive summary, follow this template. Then once you’ve written your executive summary, read it again to make sure it includes all of the key information your stakeholders need to know.

1. Start with the problem or need the project is solving

At the beginning of your executive summary, start by explaining why this document (and the project it represents) matter. Take some time to outline what the problem is, including any research or customer feedback you’ve gotten . Clarify how this problem is important and relevant to your customers, and why solving it matters.

For example, let’s imagine you work for a watch manufacturing company. Your project is to devise a simpler, cheaper watch that still appeals to luxury buyers while also targeting a new bracket of customers.

Example executive summary:

In recent customer feedback sessions, 52% of customers have expressed a need for a simpler and cheaper version of our product. In surveys of customers who have chosen competitor watches, price is mentioned 87% of the time. To best serve our existing customers, and to branch into new markets, we need to develop a series of watches that we can sell at an appropriate price point for this market.

2. Outline the recommended solution, or the project’s objectives

Now that you’ve outlined the problem, explain what your solution is. Unlike an abstract or outline, you should be  prescriptive  in your solution—that is to say, you should work to convince your readers that your solution is the right one. This is less of a brainstorming section and more of a place to support your recommended solution.

Because you’re creating your executive summary at the beginning of your project, it’s ok if you don’t have all of your deliverables and milestones mapped out. But this is your chance to describe, in broad strokes, what will happen during the project. If you need help formulating a high-level overview of your project’s main deliverables and timeline, consider creating a  project roadmap  before diving into your executive summary.

Continuing our example executive summary:

Our new watch series will begin at 20% cheaper than our current cheapest option, with the potential for 40%+ cheaper options depending on material and movement. In order to offer these prices, we will do the following:

Offer watches in new materials, including potentially silicone or wood

Use high-quality quartz movement instead of in-house automatic movement

Introduce customizable band options, with a focus on choice and flexibility over traditional luxury

Note that every watch will still be rigorously quality controlled in order to maintain the same world-class speed and precision of our current offerings.

3. Explain the solution’s value

At this point, you begin to get into more details about how your solution will impact and improve upon the problem you outlined in the beginning. What, if any, results do you expect? This is the section to include any relevant financial information, project risks, or potential benefits. You should also relate this project back to your company goals or  OKRs . How does this work map to your company objectives?

With new offerings that are between 20% and 40% cheaper than our current cheapest option, we expect to be able to break into the casual watch market, while still supporting our luxury brand. That will help us hit FY22’s Objective 3: Expanding the brand. These new offerings have the potential to bring in upwards of three million dollars in profits annually, which will help us hit FY22’s Objective 1: 7 million dollars in annual profit.

Early customer feedback sessions indicate that cheaper options will not impact the value or prestige of the luxury brand, though this is a risk that should be factored in during design. In order to mitigate that risk, the product marketing team will begin working on their go-to-market strategy six months before the launch.

4. Wrap up with a conclusion about the importance of the work

Now that you’ve shared all of this important information with executive stakeholders, this final section is your chance to guide their understanding of the impact and importance of this work on the organization. What, if anything, should they take away from your executive summary?

To round out our example executive summary:

Cheaper and varied offerings not only allow us to break into a new market—it will also expand our brand in a positive way. With the attention from these new offerings, plus the anticipated demand for cheaper watches, we expect to increase market share by 2% annually. For more information, read our  go-to-market strategy  and  customer feedback documentation .

Example of an executive summary

When you put it all together, this is what your executive summary might look like:

Common mistakes people make when writing executive summaries

You’re not going to become an executive summary-writing pro overnight, and that’s ok. As you get started, use the four-part template provided in this article as a guide. Then, as you continue to hone your executive summary writing skills, here are a few common pitfalls to avoid:

Avoid using jargon

Your executive summary is a document that anyone, from project contributors to executive stakeholders, should be able to read and understand. Remember that you’re much closer to the daily work and individual tasks than your stakeholders will be, so read your executive summary once over to make sure there’s no unnecessary jargon. Where you can, explain the jargon, or skip it all together.

Remember: this isn’t a full report

Your executive summary is just that—a summary. If you find yourself getting into the details of specific tasks, due dates, and attachments, try taking a step back and asking yourself if that information really belongs in your executive summary. Some details are important—you want your summary to be actionable and engaging. But keep in mind that the wealth of information in your project will be captured in your  work management tool , not your executive summary.

Make sure the summary can stand alone

You know this project inside and out, but your stakeholders won’t. Once you’ve written your executive summary, take a second look to make sure the summary can stand on its own. Is there any context your stakeholders need in order to understand the summary? If so, weave it into your executive summary, or consider linking out to it as additional information.

Always proofread

Your executive summary is a living document, and if you miss a typo you can always go back in and fix it. But it never hurts to proofread or send to a colleague for a fresh set of eyes.

In summary: an executive summary is a must-have

Executive summaries are a great way to get everyone up to date and on the same page about your project. If you have a lot of project stakeholders who need quick insight into what the project is solving and why it matters, an executive summary is the perfect way to give them the information they need.

For more tips about how to connect high-level strategy and plans to daily execution, read our article about strategic planning .

Related resources

Cost control: How to monitor project spending to increase profitability

How to use a feasibility study in project management

How to track utilization rate and drive team profitability

How to accomplish big things with long-term goals

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• Personal Finance

What Is a Closing Statement? Definition and Examples

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia.

Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.

What Is a Closing Statement?

A closing statement is a document that records the details of a financial transaction. A homebuyer who finances the purchase will receive a closing statement from the bank, while the home seller will receive one from the real estate agent who handled the sale.

All loans are accompanied by closing statements, though they vary in complexity.

Key Takeaways

• A mortgage closing statement lists all of the costs and fees associated with the loan, as well as the total amount and payment schedule.
• A closing statement or credit agreement is provided with any type of loan, often with the application itself.
• A seller’s Closing Disclosure is prepared by a settlement agent and lists all commissions and costs in addition to the net total to be paid to the seller.
• With some types of loans, you may receive a Truth in Lending Disclosure form in lieu of a Closing Disclosure.

Understanding the Closing Statement

When financing a home purchase, buyers can expect to see a loan estimate within three days of applying for a mortgage. Prior to closing, the buyer will receive the final Closing Disclosure. If you are the seller, you’ll receive a similar Closing Disclosure that reflects your information along with your rights and obligations as the seller.

The Mortgage Closing Statement

Reading and accepting the final Closing Disclosure is one of the last steps that a borrower must take before signing on the dotted line and accepting the money for a mortgage or refinancing.

The final Closing Disclosure is preceded by the loan estimate , which estimates the various fees and additional charges that the borrower will face at closing. The final Closing Disclosure should not vary significantly from the initial loan estimate. The loan estimate should be received within three days of submitting the loan application.

The final Closing Disclosure must be given to the borrower at least three business days before closing. It contains a detailed list of every fee and charge that the borrower will be required to pay, and to whom it will be paid. The gross amount due will be adjusted to reflect any costs already paid by the borrower.

The final disclosure will even present all of those figures side by side with the initial loan estimate for easy comparison. It also will include the details of the loan, including the interest rate, the amount of the monthly payments, and the payment schedule.

It’s important to carefully review the mortgage closing statement, to ensure that everything is correct and to check for any discrepancies.

Other Loan Closing Statements

Virtually any other type of loan comes with its own closing statement. This document may also be called a settlement sheet or credit agreement .

In a revolving credit loan, such as a new credit card or a bank line of credit, the closing details are usually reported in the credit application, with the borrower’s signature indicating agreement in advance to the lending terms. A more complex document is commonly used for personal loans that involve a large lump sum, with or without collateral.

If you’re getting a reverse mortgage, you wouldn’t get the standard Closing Disclosure. Instead, you would receive a HUD-1 Settlement Statement and a Truth in Lending Disclosure form. If you’re applying for a home equity line of credit (HELOC), you may receive a Truth in Lending Disclosure form but not a HUD-1 Settlement Statement or a Closing Disclosure.

The Truth in Lending Disclosure provides important information about the cost of credit, including your annual percentage rate (APR).

The Seller’s Closing Statement

The seller will receive the final closing documents, including the Closing Disclosure, from a settlement agent working with the title company selected to close the transaction. This will list all of the commissions and fees to be paid, as well as any credits that will be offset against them. The bottom-line figure is how much the seller will receive once the transaction is finalized. The Consumer Financial Protection Bureau requires that the seller receive this statement.

If you’re selling a home at a profit, you’ll need the closing statement to record the details of the sale when you file your taxes.

Components of a Closing Statement

The closing statement includes information related to the cost of buying or selling a home. The form can also include details of the property itself. What’s included on your closing statement can depend on whether you’re the buyer or the seller.

Generally, closing statements can include these components:

• Property details. The closing statement should include basic information about the property, such as the address where it’s located, when it was built, and the type of structure it is (i.e., single-family home, multifamily home, manufactured home, etc.).
• Financial information. The closing statement should also detail the purchase price of the home, deposits paid by the buyer, and seller credits.
• Prorated amounts. If a buyer or seller is paying prorated amounts toward property taxes or homeowners association (HOA) fees, then these also would be included on the closing statement.
• Loan costs. This section of the closing statement would include information relating to the loan, such as points paid, underwriting fees, application fees, and origination fees . Mortgage insurance premiums and prepaid interest also would be included here.
• Miscellaneous loan costs. Other loan costs would be listed under a separate section. That includes appraisal fees, credit report fees, and research fees. Survey fees, inspection fees, and pest inspection fees also would be included on the closing statement.
• Escrow and recording fees. Escrow charges are detailed on the closing statement, along with any recording fees charged by government entities to record the transaction.
• Commissions. The closing statement also would specify what was paid in real estate commissions to the buyer’s agent and the seller’s agent. These costs are typically paid by the seller out of the proceeds of the sale.

This same information is also reported on the Closing Disclosure if your loan requires you to receive one.

Example of Real Estate Closing Statements

The American Land Title Association (ALTA) provides sample closing statements for both buyers and sellers in a real estate transaction. These statements look similar, though there are some slight differences in the information that’s reported. Below is an example of what the seller closing statement looks like. The buyer closing statement can be downloaded on the ALTA website , along with the seller statement.

Consumer Financial Protection Bureau. “ Closing Disclosure Explainer .”

Consumer Financial Protection Bureau. “ Loan Estimate and Closing Disclosure: Your Guides in Choosing the Right Home Loan .”

Consumer Financial Protection Bureau. “ What Is a Closing Disclosure? ”

Consumer Financial Protection Bureau. “ What Is a HUD-1 Settlement Statement? ”

Debt.org “ Consumer Credit & Loans .”

Consumer Financial Protection Bureau. “ TILA-RESPA Integrated Disclosure: Guide to the Loan Estimate and Closing Disclosure Forms ,” Page 48.

State of Hawaii. “ Anatomy of a Closing Statement .”

American Land Title Association. “ ALTA Settlement Statement .”

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