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Now that we understand the structure of your business, we need to meet the people who’ll be running it. This section is important even for a single practitioner or sole proprietorship, as it will introduce you and your qualifications to the readers of your plan.
A smooth-running operation runs far more efficiently and cost-effectively than one flying by the seat of its pants, and this section of your business plan will be another indication that you know what you’re doing.
A large company is also likely to need additional operational categories such as human resources and possibly research and development.
Having a solid plan for how your business will run is a key component of its smooth and successful operation.
Of course, you need to surround yourself with good people, but you have to set things up to enable them to work well with each other and on their own.
Detail his or her education, and any unique skills or experience, especially if they’re relevant to the job at hand.
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Mention previous employment and any industry awards or recognition related to it, along with involvement with charities or other non-profit organizations.If you are incorporated, say so, and detail whether you are a C or S corporation.If you haven’t yet incorporated, make sure to discuss this with your attorney and tax advisor to figure out which way to go.Think of this section as a resume-in-a-nutshell, recapping the highlights and achievements of the people you’ve chosen to surround yourself with.Actual detailed resumes for you and your management team should go in the plan’s appendix, and you can cross reference them here.For larger companies, an organizational plan with well-thought-out procedures is even more important.This is the best way to make sure you’re not wasting time duplicating efforts or dealing with internal confusion about responsibilities.You want your readers to feel like your top staff complements you and supplements your own particular skill set.You also want readers to understand why these people are so qualified to help make your business a success.This section will spell out the compensation for management team members, such as salary, benefits and any profit-sharing you might be offering.If any of the team will be under contract or bound by non-compete agreements, you would mention that here, as well.