New Business Development > Starting a Business > Feasibility and Business Plans

Create Your Own Business Plan -- Management

File C5-69
Updated March, 2010

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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)?

 

Don Hofstrand, retired extension value added agriculture specialist, agdm@iastate.edu