The easiest section of the Business Plan is the management team section, right? Just insert resume here and call it done. This is one of the consistent flaws I see in reviewing my client's business plans. They just insert a list of jobs and skills and call it good. This is not a job search where you have a pretty good shot at getting a follow-up interview, the business plan can be your make or break introduction to the investor. You need to sell yourself!

The Management Team Section of the business plan needs to tell a story of why the key personnel are the best qualified to execute on the plan. It must include well written biographies of all the key players and detail their individual responsibilities. It is extremely important that these biographies not be merely glorified resumes. Instead, the biographies should highlight the most relevant past positions and skills that the individuals bring to the position and specific successes they have accomplished in past positions. You need to leverage their experience to show why they are qualified to lead and launch this business.

The team member biographies should focus on the growth stage of the company. Depending on the stage of the company, key functional areas may be missing from the team. This is acceptable provided that the plan clearly defines the roles and identified when the positions will be hired. It should also provide a commentary on how the roles will be satisfied until the position is hired.

The Management Team section should also include biographical sections of the company's Advisory Boar and / or Board or Directors. It is highly effective to explain how the advisors will impact the company through strategic advice or providing access to key clients, partners, suppliers, etc.

In summary, the Management Team section of the business plan is an opportunity to show your investors that it has the necessary talent to succeed. This section should show how the team is uniquely qualified to execute the venture into a successful business venture.

Article written by Terri Sullivan owner of TLS Business Consulting.
http://www.tlsbusinessconsulting.com
Article not to be used without the authors permission