Create Your Own Business Plan -- Management
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).
- Current employment, or self-employed
- Number of years with current employment (self-employment)
- Prior employment or self-employment
- Primary responsibilities and authority
- Level of education
- Unique experiences and special skills
- Industry knowledge and experience
- 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.
- Accounting services
- Legal services
- Industry consultants/service providers
- Business development consultants/service providers
- Grant writing
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)?