offer an in-depth understanding of what’s essential to any business plan, what’s appropriate for your venture, and what it takes to ensure success.
In this edited excerpt, the authors discuss what type of information you should include in the management section of your business plan.
This is not to say that one of the managers will always be the primary “technician” in the company, but that he or she must be able to train employees, design systems relevant to the operation of a company in this industry, and eventually train new trainers, allowing the manager to step back to a more strategic role.
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If, for example, you have 12 patents or your sales manager had five years of 30 percent annual sales gains, this is the stuff investors and others reading your business plan will want to see..
Investors want to know with whom they’re dealing in terms of the personal side, too.Prior work experience in a related field is something many investors look for.If you’ve spent ten years in management in the retail men’s apparel business before opening a tuxedo outlet, an investor can feel confident that you know what you’re doing.Before you can impress people with your management team, it’s important to let your readers know who's at the helm and who's selecting the management team.You, therefore, have to let them know your background, including your vision, your credentials, and why you chose the management team you did.Management Skills Needed Ideally, the complementary skills of the management team members chosen will cover a number of bases.Someone should be qualified to head sales and customer service, whether will relevant experience in the industry in question or in another industry.With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less! Since 1999, Growthink’s business plan consulting team has developed business plans for thousands of companies who have gone on to achieve tremendous success.Click here to see how our professional business plan writers can create your business plan for you.Often additional partners or employees join the management team to fill out its overall qualifications.What to Say About Each Manager When writing about the company’s managers, include relevant biographical information to show the qualifications of each manager for the function he or she will be in charge of.