This section should give readers an understanding of the people behind your business, their roles and responsibilities, and their prior experience. If you’re using your business plan to get financing, know that investors and lenders carefully assess whether you have a qualified management team.
Biographies.
Summarize (bullet points) your experience and those of your key employees in a few paragraphs per person. Focus on the prior experience and skills that have prepared your team to succeed in this business. If anyone has previous experience starting and growing a business, explain this in detail. Your employees do not need to be ‘real people’. Prepare a list of people that would best do the job.
Explain how you plan to fill in any gaps in management and/or experience. For instance, if you lack financial know-how, will you hire a CFO or retain an accountant? If you don’t have sales skills, will you hire an in-house sales manager or use outside sales reps?
Advisors
List the members of your professional/advisory support team, including:
Attorney
Accountant
Board of directors
Advisory board
Insurance agent
Consultants
Banker
Mentors and other advisors.
If they have experience or specializations that will increase your chances of success, explain. For instance, does your mentor have experience launching and growing a similar business?
Organization Chart.
Develop and include an organization chart. This should include both roles that you’ve already filled and roles you plan to fill in the future.
