Even the best new concept or existing plan will fail if executed poorly. The management team of the 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 the details of their responsibilities. It is important that these biographies are not merely the CVs of academic background and previous job titles and responsibilities of team members. Rather, biographies should highlight the most relevant past positions that the individuals were held and successes in each specific. These successes include the launching of new businesses and increasing management divisions or companies established.
The biographies of the team members should be adapted to the growth phase of the business. For example, a young company should focus on managing the launch and success of growing companies. A more mature company should emphasize how team members have successfully operated within the framework of larger enterprises.
Depending on 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 who will be hired. However, it is generally not favorable if personnel are not available 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 advisory board and / or the board of directors. While having well-known advisers or board members adds to the credibility of the business plan, it is very effective to explain how these advisors will directly impact the company through strategic advice and / or providing conduits for major customers, 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 to show just resumed, which could be included in the Appendix, the section should be used to explain precisely how the team is uniquely qualified to carry out the project in its current state.
The Management Team section should include biographies of key team members and the details of their responsibilities. It is important that these biographies are not merely the CVs of academic background and previous job titles and responsibilities of team members. Rather, biographies should highlight the most relevant past positions that the individuals were held and successes in each specific. These successes include the launching of new businesses and increasing management divisions or companies established.
The biographies of the team members should be adapted to the growth phase of the business. For example, a young company should focus on managing the launch and success of growing companies. A more mature company should emphasize how team members have successfully operated within the framework of larger enterprises.
Depending on 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 who will be hired. However, it is generally not favorable if personnel are not available 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 advisory board and / or the board of directors. While having well-known advisers or board members adds to the credibility of the business plan, it is very effective to explain how these advisors will directly impact the company through strategic advice and / or providing conduits for major customers, 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 to show just resumed, which could be included in the Appendix, the section should be used to explain precisely how the team is uniquely qualified to carry out the project in its current state.