Business Plan Part 6 (SMITH)

YOU MUST USE THE SAME COMPANY AND IDEAS I HAVE USED IN MY PREVIOUS ASSIGNMENTSI ATTACHED

Business Plan Part 6 – Identify your management team. This section should include the following:

People, not ideas or products, make a company successful. This is probably the most important section of your plan, since most small businesses fail due to poor management.
2. Show your team’s balance of technical skills, business skills, and experience.
3. Anyone with 20% or more ownership in the company needs to be included.
4. Investors prefer experienced managers who have a significant stake in the success of the business.
5. When addressing the management team’s skills and abilities, be sure to tailor your comments to address each of the major reasons small businesses fail [SBM:EB pp 17-21].

Show that the firm has the right people organized in the right way to do the job.
Resources needed to write this section

1. An organizational chart.
2. Job descriptions for key positions.
3. Resumes of key officers. Each officer’s age.
4. Financial statements on each officer detailing his/her personal finances and stake in the company.
5. The compensation plan including stock options, buyout, etc.
6. A written copy of your philosophy of management.
7. A list of the members of your board.