Who's On Your Team?

Your Business Plan should include your Management Team and Your Organizational Structure.

The point of this section is to be clear to yourself, and those who work with you or for you, or will be funding you, who's involved and in charge of what, as well as the background and skills that will be contributing to the success of the business.

Like other parts of the business plan, this is a section you'll want to update if you have team member changes, or if you and your team members receive any additional training, awards or other accolades that benefit the business.

Because your Management Team highlights the skills and experience you and your team offer, it can be a great resource to refer to when seeking publicity and marketing opportunities.

It also tells your investors what you and the others involved in the running of your business brings to the table. This not only includes owners and managers, but also your board of directors (if you have one) and support professionals.

Start by indicating your business structure (i.e. partnership or LLC), and then list the team members.

The organization structure sets up the hierarchy of the people involved in your business. It's often set up in a chart form. If you have a partnership or multi-member LLC, this is where you indicate who is president or CEO, the CFO, director of marketing, and any other roles you have in your business.

Who you surround yourself with and who’s on your team is a key component of your business plan. Don’t overlook it.

#ManagementTeam #theBVDCenter

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