Use this section to describe company management including the responsibilities and expertise of each person. Many lenders and venture capitalists base their investment decisions on the strength of the company's principals. Demonstrating that your management team possesses, or will possess, an array of complementary skills will help convince investors that your business has a bright future.
For positions you have yet to fill, detail who you will need to hire to achieve the goals set out in the product development schedule. Describe the talents this person needs to possess and how the addition of that person will help the company meet its objectives.
- Be sure to have major categories of business management covered such as marketing, sales (including customer relations and service), production and quality assurance, research, and administration. You do not have to have personnel devoted to each of these areas, but you should have people who will be able to assume these responsibilities as needed.
- Include relevant details in your management description, but save complete resumes as attachments to your plan. This will enable readers to quickly skim your management section and evaluate the strength of your team. If they are interested, they can delve deeper into management's background by reviewing their resumes.
- Emphasize people who have already committed to working with your business.
- Always put backgrounds in reverse chronological order - lead with your most impressive piece of experience. Some people make the mistake of leading with graduating college and ending with their recent history.
- For important positions left unfilled at the time your business plan is assembled, describe necessary skills and job experience.
- If you are young and do not have work experience, or have experience unrelated to the business you are undertaking, see the Management Description worksheet created here to help you assemble a strong description of your skills.
To Management Description