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Public Relations' 8 Fix Factors
I say to business, non-profit and association managers, a key part of your job description is – or should be – do everything you can to help your organization’s public relations effort as it strives to persuade important outside stakeholders to...
The Top Five Reasons For Posting In Online Guestbooks
An online guest book is a log for people to sign and sometimes leave brief messages when they visit someone’s website. Possibly you’ve posted to, or “signed” one of these guest books at one time when you’ve visited someone’s website. ...
Time Management Tips
This week we're going to take a look at your time management skills. Most of us have to work, and the more you can do in the least amount of time, the better. Working smarter frees you up so that not only do you have a job, but you have balance...
Why Can't You be More Like Me?
Here is a non-scientific, but fun way to see which style you may be. Read the poem below and then identify which one of the styles is most like you. You will also start to see and understand the behavioral style of other people around you just...
Why do we need a business plan?
Copyright © Cecilia Chang What is a plan? Plan is divided into steps or point form for you to analysis and to reach the place you want to go. A person can have many plans, from his personal life to workings days. In companies where business plans...
 
The Management Team Section of Your Business Plan

Even the best new concept or existing plan will fail if executed poorly. The Management Team section of the business plan must prove to the investor why the key company personnel are "eminently qualified" to execute on the business model.

The Management Team section should include biographies of key team members and detail their responsibilities. It is important that these biographies are not merely resumes that include the educational backgrounds and previous job titles and responsibilities of the team members. Rather, biographies should highlight the most relevant past positions that the individuals have held and specific successes in each. These successes could include launching and growing new businesses or managing divisions of established companies.

Team member biographies should be tailored to the company's growth stage. For instance, a start-up company should emphasize its management's success launching and growing companies. A more mature company should emphasize how team members have successfully operated within the framework of larger enterprises.

Depending upon the stage of the company, key functional areas may be missing from the team. This is acceptable provided that the plan clearly defines the roles that these individuals will play and identifies the key characteristics of the individuals that will be hired. However, it is generally not favorable if personnel are missing for ultra-critical roles. For example, a plan that


is fundamentally a marketing play should not seek financing without a stellar marketing team.

The Management Team section should also include biographies of the company's Advisory Board and/or Board of Directors. While having well-known advisors/board members adds credibility to the business plan, it is highly effective to explain how these advisors will directly impact the company through strategic advice and/or providing conduits to key clients, partners, suppliers, etc.

In summary, the Management Team section of the business plan is an opportunity to prove to investors that your company has the necessary talent to succeed. Rather than waste this opportunity by merely showing employee resumes, which could be included in the Appendix, the section should be used to explain precisely how the team is uniquely qualified to execute the venture in its present state.

Please visit http://www.growthink.com/businessplan for a free copy of the 2005 Business Plan Guide.

About the Author

As President of Growthink Business Plans, Dave Lavinsky has helped the company become one of the premier business plan development firms. Since its inception, Growthink has developed over 200 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share.

 

Finance - Leases-Leasing Ezine Articles
EzineArticles.com allows ezine or email list publishers to upload or download free expert content that can be used within email newsletters or websites.
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Finance: Leases Leasing Articles from EzineArticles.com
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Absolute Article Directory: Finance, Leases Leasing.
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