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Get Rid Of The Clutter
You really can have a successful business and a great life. Often we get caught up in growing our business or climbing the corporate ladder that we put our personal lives on hold. Rather than filling up your calendar with work, organizations,...
It´s not your lack of goals that causes a lack of success, It´s the relation between your values and your operations
Subtitle: Your Values determine your Motivation and Focus, and your Focus determines your progression, results, and success. by Kenth Bender © 2003 Kenth Bender It is seldom the lack of goals that causes failure, it is more often the lack of...
Managers, Got a Grip on Your PR?
What are you trying to do with your business, non-profit or association public relations program? Get a little publicity for a service or product? Or, perhaps, you’re doing what you really should do, persuade your key external stakeholders to...
Tips to Energize Your Presentations
“There can be no knowledge without emotion. We may be aware of a truth, yet until we have felt its force, it is not ours. To the cognition of the brain must be added the experience of the soul.”
– Arnold Bennett (1867-1931)
Ask...
Will You Be the Next Virtual Real Estate Millionaire?
Copyright 2004 Dave Isaacs
http://www.infinite-revenue.com
Have you heard the term Virtual Real Estate?
This is a buzz word or catch phrase commonly used by
renowned traffic guru, John Reese. If you haven't yet
heard of it, then mark...
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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.
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