The synopsis of a business proposal, commonly known as the executive summary, serves as the introduction and focal point of your entire proposal. Understanding how to craft an effective synopsis is crucial for winning deals and securing client buy-in.
Why the synopsis matters
When we analyzed over $1,480,000,000 of closed deals, we found that people spend 38.2% of their time reading the introduction. Moreover, 27% of the time was spent on the pricing page.
With data showing that clients spend most of their time on your executive summary, it's only natural to invest more effort into crafting it effectively. This guide will help you write a compelling synopsis that captures attention and drives action.
Step 1: Complete your business plan first
The only way to write an effective synopsis is to complete your full business plan first. Your business plan should include:
A clear description of products or services
An in-depth analysis of your industry
Your company's sales objectives
A detailed marketing plan
A financial section with current state and future projections
Focus on opportunity and execution
The way to make your business plan stand out is by focusing on two key elements: opportunity and execution.
Opportunity includes:
The solution to the problem you're solving
Who you plan to sell to
What makes you different from competitors
How the problem is costing your clients money
Your plan to help them solve it
As you develop your plan, ask yourself: "What is the purpose of a business plan?" It helps you clarify your vision, outline your strategies, and create a roadmap for achieving your business goals.
For example, if you're in the business of creating webshops, you should use social proof and show how your previous clients benefited from the e-commerce site you created. Finding out the problem your potential clients are facing is a crucial step to finding a good business solution.
Define your target market
The next step is defining your target market. Who will you be selling to? Depending on your business type, you will either focus on B2B or B2C sales.
Understanding target audience vs. actual customers
It's important to know the difference between your target audience and actual customers. A classic example is children's toys. They're aimed at kids, but parents are the ones making the purchase.
The same thing happens in B2B sales. Your product or service may be used by many employees, but they're not the ones making the purchase decision. If the CEO is responsible for buying all employee programs, then business owners are purchasing products they may never personally use.
Conduct thorough market research
Shape your target audience by doing good market research, including a detailed SWOT analysis:
Strengths: What do you do better than competitors?
Weaknesses: Where can you improve?
Opportunities: What market gaps can you fill?
Threats: What challenges might you face?
Ask yourself: Is there room and need on the market for another company? What will set you apart from your competition?
After completing your SWOT analysis, work on identifying your target audience's:
Age group
Location
Interests and lifestyle
Pain points and needs
By analyzing these areas, you'll create a strong buyer persona and establish a good foundation for all future business work.
Plan your execution strategy
This part of your business plan should cover how you're going to make your business work:
What marketing plan do you have in store?
What activities will you do to achieve your goal?
How will you position yourself in the market?
Your marketing plan should rely on actual numbers from your market research. With proper market evaluation, you'll easily build a step-by-step marketing plan that describes your market positioning.
All the work you put into your business plan will pay off when creating your executive summary.
Step 2: Craft your introduction
If you've conducted a successful discovery meeting, you're well on your way. This means you don't need to present your company's entire history or talk too much about your business idea.
Focus on the client's problem
The most important part of your introduction is showing that you understand your client's problem. Present their problem using their own words, without adding extra details or placing blame.
It's important for your client to understand that you get their problem and why it needs solving. The biggest mistake people make while writing executive summaries is focusing on themselves.
Remember: This is not a summary of your business. Save your social proof and testimonials for later chapters of your proposal.
Keep the client at the center
Write the executive summary with your client in mind. They're close to deciding whether to work with you. Your proposal should focus on answering the question of "how." If you want to share your mission statement, do so in the later parts of your proposal.
With Wonit's conversational AI, you can create personalized executive summaries in seconds. Simply provide the client's problem and project details, and the AI will generate a professional synopsis that speaks directly to your client's needs.
Step 3: Present your solution
Explain your goal and how you're going to solve the problem at hand. At this stage, you don't need to present a detailed step-by-step process. Just show them that you have a solid plan and include a timeframe for completion.
This section is the first new piece of information your client will receive, and it should get them excited about working with you. Make sure to end your executive summary with a clear call-to-action that invites your client to read the rest of the proposal.
Step 4: Refine and collaborate
Now that you have your synopsis ready, refine it to get the best possible results:
If you have a custom approach to your proposed solution, highlight it
Point out any elements that make you stand out from competitors
Have your management team review the executive summary before sending it out
Leverage team collaboration
Using Wonit, you can share your proposal with team members and receive Figma-like comments for better and faster feedback. This collaborative approach makes sure your executive summary is polished and compelling before it reaches your client.
Conclusion
Writing an effective synopsis requires careful planning, client-focused messaging, and attention to detail. By following these steps and using modern tools like Wonit's AI-powered proposal builder, you can create executive summaries that capture attention, communicate value, and close deals faster. Remember: Your synopsis is your first impression. Make it count.
For more tips, check out our complete guide on how to write a winning sales proposal.