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Most important part is, reducing the story to the core plot. Some say you should only need three pages to summarize your story, some say one page should be enough. But if you can reduce its core to...
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#3: Attribution notice added
Source: https://writers.stackexchange.com/a/160 License name: CC BY-SA 3.0 License URL: https://creativecommons.org/licenses/by-sa/3.0/
#2: Initial revision
Most important part is, reducing the story to the core plot. Some say you should only need three pages to summarize your story, some say one page should be enough. But if you can reduce its core to three _sentences_, then you are on the right track. Impossible? Only three sentences? Imagine a friend asks you to summarize the Lord of the Rings for him. He never read one of the books or saw one of the movies. Do you really need three pages/one page to do it? Or can you do it with only three sentences? See, and LotR are three volumes, so you can condense your story, too. Look at it from the agent's perspective. He gets 30 synopsis a day. He must flip through them and decide, which one is worth it. He cannot delay it, because tomorrow he'll get another 30 synopsis. Look at what you have written and ask yourself: Would I choose this, if I were an agent? If the answer is _yes_, put your three sentences summary into the cover letter and your one page summary into the synopsis ;) BTW: Randomman159's link says that the editors usually read your sample chapters first. That's not true. They read your cover letter first. Better make it good. And short.