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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.
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.
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.
One way to explain your organizational structure in the business plan is graphically.
A simple diagram or flowchart can easily demonstrate levels of management and the positions within them, clearly illustrating who reports to whom, and how different divisions of the company (such as sales and marketing) relate to each other.
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.
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.