The Management Team Section of the Business Plan – Don't Just Include ResumesWritten by Dave Lavinsky
Even best new concept or existing plan will fail if executed poorly. The Management Team section of business plan must prove to investor why key company personnel are "eminently qualified" to execute on business model.The Management Team section should include biographies of key team members and detail their responsibilities. It is important that these biographies are not merely resumes that include educational backgrounds and previous job titles and responsibilities of team members. Rather, biographies should highlight most relevant past positions that individuals have held and specific successes in each. These successes could include launching and growing new businesses or managing divisions of established companies. Team member biographies should be tailored to company's growth stage. For instance, a start-up company should emphasize its management's success launching and growing companies. A more mature company should emphasize how team members have successfully operated within framework of larger enterprises. Depending upon stage of company, key functional areas may be missing from team. This is acceptable provided that plan clearly defines roles that these individuals will play and identifies key characteristics of individuals that will be hired. However, it is generally not favorable if personnel are missing for ultra-critical roles. For example, a plan that is fundamentally a marketing play should not seek financing without a stellar marketing team.
| | Business & Family Safety and Health RatingWritten by Raju Gavurla
For good reason, practically every endeavor in life is rated. I've seen ratings on who or what's #1 in business, industry, NFL, NBA, MLB, person of century, athlete of century, technology, restaurants, university, neighborhoods, travel destination, best looking, best movie, best book, etc. It doesn't stop. In fact, there are multiple ratings for same #1 spot because of varying value systems. Of course, each of us has our independent rating to see if it's in agreement with masses, experts, or promotional efforts. Here's a rating I haven't seen that applies to business and family. What is safety and health rating of your business and family? To take it further, how does your business and family rate in respect to others for improvement? It could be separated by many categories. My point is, with high safety and health levels all good endeavors are made possible. Therefore , safety and health needs to be rated. I know several employees who have taken drastic measures (resigning) to alleviate a personal or family problem because they didn't feel comfortable and confident employer would help resolve problem. Case one, a family member became ill and employer and employee did not discuss work solutions during this difficult period. Possible solutions could have been talking through this situation, working from a home office, working part time, extended time off, or taking a leave of absence. Case two, an employee became very ill because for years he received special recognition but was not promoted. There seemed to be no known process in place to steer his career and ensure success. Case three, a newlywed's husband went out West for a one year job assignment and she wanted to go with him. The employee was able to talk with her employer and work out West for a year while living with her husband. The employer provided all essentials for her to do her job remotely. In two of cases a health problem precluded an employer and employee from considering options because of perceived ideal employer and employee relationship. An employer and employee lost a "good working relationship". In case three, employee is still working for employer years later. If there was a safety and health rating, all three cases could have been an opportunity to develop loyalty and show employer cares.
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