Adapted from content excerpted from the American Express® OPEN Small Business Network
Use this section to describe company management including the
responsibilities and expertise of each person. Many lenders and
venture capitalists base their investment decisions on the strength
of the company's principals. Demonstrating that your management
team possesses, or will possess, an array of complementary skills
will help convince investors that your business has a bright
For positions you have yet to fill, detail who you will need to
hire to achieve the goals set out in the product development
schedule. Describe the talents this person needs to possess and how
the addition of that person will help the company meet its
- Be sure to have major categories of business
management covered such as marketing, sales (including
customer relations and service), production and quality
assurance, research, and administration. You do not have
to have personnel devoted to each of these areas, but you
should have people who will be able to assume these
responsibilities as needed.
- Include relevant details in your management
description, but save complete resumes as attachments to
your plan. This will enable readers to quickly skim your
management section and evaluate the strength of your
team. If they are interested, they can delve deeper into
management's background by reviewing their
- Emphasize people who have already committed to
working with your business.
- Always put backgrounds in reverse chronological order
- lead with your most impressive piece of experience.
Some people make the mistake of leading with graduating
college and ending with their recent history.
- For important positions left unfilled at the time
your business plan is assembled, describe necessary
skills and job experience.
- If you are young and do not have work experience, or
have experience unrelated to the business you are
undertaking, see the
Management Description worksheet created here to help
you assemble a strong description of your skills.
To Management Description
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