The Team
A business is only as strong as the people who breathe life into it. Your management team and staff can be the difference between a successful business and one that fails. Therefore, it is important to include a section in your business plan that outlines the skills that your team members possess and how these skills will help bring your product or service to market.
The Team section of your business plan should include:
• Management Team Profiles & Ownership Structure
• Advisors
• Professional Services
• Human Resources Requirements
Management Team Profiles & Ownership Structure
No matter how large or small your business, good management is key to its success. It is important to think through and identify all management categories, necessary skill sets and possible job titles. It is not necessary to fill each position with a different person. You should, however, identify the people who are capable of assuming roles when necessary, whether it be yourself or someone else. It is suggested that you provide a current copy of everyone's résumé in addition to including profiles of each member of your management team (even if the team is just you) that demonstrates his or her unique skills. Describe how each person will add to the team's success.
Management Team Profiles & Ownership Structure section should cover the following:
1. What are the major categories of business management in your company (i.e. marketing, sales, research, administration)? Include an organizational chart of your business or explain the functions of yourself and key team members.
2. Who are the people who have agreed to work with you ...