I defined a keynote macro to insert key ideas in my document using varwidth. The document is in \doublespacing and I have defined \singlespacing inside my macro. However, the correct spacing is achieved only for long sentences and not for short text like here.

\documentclass{standalone}
\usepackage{setspace,varwidth,lipsum}
\newcommand{\keynote}[1]{%
\begin{varwidth}{4cm}%
{\singlespacing \narrowragged #1}%
\end{varwidth}%
}
\begin{document}
\doublespacing
\hspace{1cm} \keynote{\lipsum[2]}
\hspace{1cm} \keynote{This note explaining a key idea should go to at least two lines.} \hspace{1cm}
\end{document}