How to Business Plan Pt 6 of 10 - Your Team's Skills

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Your team's skills

Your business plan needs to set out the structure and key skills of both
your management team and your staff. It should identify the strengths in
your team and your plans to deal with any obvious weaknesses.

The management team

If you're looking for external funding, your management team can be a
decisive factor. Explain who is involved, their role and how it fits into the
organisation. Include a paragraph on each individual, outlining their
background, relevant experience and qualifications. Include any advisors
you might have such as accountants or lawyers.

If you're looking to satisfy your bank manager or other investors, you need
to demonstrate that your management team has the right balance of skills,
drive and experience to enable your business to succeed. Key skills
include sales, marketing and financial management as well as production,
operational and market experience.

Your investors will also want to be convinced that you and your team are
fully committed. Therefore it's a good idea to set out how much time and
money each person will contribute to the business and the salaries and
benefits you plan to draw.

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visit Bplans and get 500+ Sample Business Plans.