• Crops
•    Cost & Return
•    Markets
•    Outlook & Prices
•    Machinery
•    Other

• Livestock
•    Cost & Return
•    Markets
•    Outlook & Prices
•    Other

• Whole Farm
•    Cost & Return
•    Leasing
•    Land Values
•    Financial
•    Legal & Taxes
•    Succession
•    Strategic Planning
•    Weight and Measurements
•    Other

• New Business Dev.
•    Business Start-up
•    Marketing
•    Operations
•    Analysis

• Renewable Energy
•    Ethanol
•    Outlook & Prices
•    Other

 

 

Updated March, 2010					File C5-69

Create Your Own Business Plan -- Management

Don Hofstrand, Co-Director, Ag Marketing Resource Center, 641-423-0844, dhof@iastate.edu

Project Leadership

Leadership is often made up of a handful of individuals who want to explore a business idea.  In this section you can identify and describe individuals leading the project.

You may want to consider the following points in preparing this section.

• List the leaders/founders of the project.
• Provide resumes of their background and experience (include skills relevant to this project).

1. Name
2. Current employment, or self-employed
3. Number of years with current employment (self-employment)
4. Prior employment or self-employment
5. Primary responsibilities and authority
6. Level of education
7. Unique experiences and special skills
8. Industry knowledge and experience 
9. Community involvement

• Describe how the founders will be rewarded.
• If the project has a manager, describe the person and his/her qualifications.
• Lists advisors and consultants used in the project and their qualifications.

1. Accounting services 
2. Legal services 
3. Industry consultants/service providers
4. Business development consultants/service providers 
5. Grant writing
6. Others

Business Management

Organizing the management structure of the business and hiring management personnel is a critical step in the success of the business.

You may want to consider the following points in preparing this section:

• Describe the primary management skills that will be required for the business to be successful as an ongoing entity.  Describe the ongoing proposed management positions. 
• Describe how the main functions of the business are divided (e.g. accounting, marketing, operations, etc.).  Prepare an organizational chart showing lines of authority and responsibilities. 
• Identify the key management positions required for the business.
• Chief Executive Officer (CEO) 
• Chief Financial Officer (CFO) 
• Chief Operations Office (COO) 
• Other management positions
• Describe the roles and qualifications needed for each management position and the process used to select each manager.  Describe any other management skills needed to make the business successful. 
• Prepare job descriptions for these individuals. 
• Outline the expected timing of the process for filling the management positions. 
• If some key management positions have already been filled, provide a summary of their qualifications. 
• Present expected salaries for key positions. 
• What types of incentives will be used to motivate and reward management? 
• How will owners assess the initial and ongoing performance of management? 
• Describe any existing or proposed management contracts or contract terms. 
• Will a stock option or ownership pool be assigned for operations management and/or employees? 
• Describe the governance of the business and the Board of Directors (number, term, etc.).  The Board of Directors function and its relation to management.
• What other management resources will be available (attorney, CPA, other)?