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Offshore outsourcing - Ideal tool for a successful business management
The core of business management is using your time in areas that are more productive. Imagine precious hours of your time are wasted on doing loads manual work that eats your energy. Do you think that your time should be utilized in implementing...
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Leading organizations in the global economy understand that in order for them to stay competitive, they must efficiently and effectively create, capture, and share their organization's knowledge and expertise within their organization. The practice...
Time Management
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Time Management Is Key
Having a home based business can be overwhelming. When you work at home, there is a lot to do for both your home based business, your home and you family. The key to making a home based business work is managing your time wisely. When you work at...
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The Management Team Section of the Business Plan - Don’t Just Include Resumes

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. Growthink Business Plans has developed over 200 business plans for clients that have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. Growthink Business Plans is the sister site of GT Venture Capital.

 

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Agency of the US government tasked with Disaster Mitigation, Preparedness, Response & Recovery planning.
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