Put another way, you want to include only the most relevant and insightful information about your management team – and you want to be quick about it.
So be prepared to edit your words ruthlessly as you structure the paragraph to include the team members' info: Because you opened the paragraph with the person's name and title, you want to close it with a summation of the contributions you expect the person to make.
Of course, they'll read the market analysis section – and you can expect them to linger over the financial projections section.
But if there's one section of a business plan that may carry the greatest weight with lenders, investors and potential strategic partners, it's the management team section.
Like many small-business owners, you may not think of yourself as a writer.
So you may be relieved to know that you should devote only about one paragraph to each person you profile in the management section.
As with any big project, it can help to start with a few basics so you’ll have something to build on as you go along.
Hank Boyer, executive coach and CEO of Boyer Management Group, notes that most business plans are quite basic to begin with, but tend to evolve and become more detailed over time.
Any potential investor will want to know what they’re getting themselves into, how their money will be spent and whether or not you will be capable of pulling it off.
“Writing a business plan requires you to meticulously research the market, which will help you learn more about what your customers really want, how much they’d be willing to pay, how you can attract them, and who your competitors are.” With this in mind, if you plan to raise money to start your business, whether from outside investors or friends and family, it’s important to have a well-researched and compelling business plan that inspires confidence in your ideas as well your abilities.