How to Write an Effective Business Plan Section on Key Personnel
When writing a business plan, one of the key sections that investors pay close attention to is the management team. This section should highlight the biographies of the key personnel involved in the business, such as the board of directors, officers, and key advisors. Here are some tips on how to effectively showcase your management team in your business plan:
1. Concise and Relevant Bios
- Keep the biographies of your team members concise and focused on what each individual brings to the business.
- Include the following details:
- Title of the position the individual will hold
- Past industry experience
- Education background
- Significant attributes and successes relevant to the business
- Duties and tasks the individual will be performing
- Supervisory, management, or leadership background if applicable
- Avoid including extraneous details of previous jobs, unrelated past experiences, and the use of superlatives in bios.
2. Key Players Only
- It is important to only list the key players in your management team.
- Clearly differentiate the positions and responsibilities of multiple vice presidents, if applicable.
- Omit individuals from the business plan who are not qualified for their positions, even if they are family or friends.
3. Focus on Fit
- Investors are interested in the people behind the business, especially for small businesses.
- Clearly explain in your business plan why each person is a good fit for their role in the business.
4. Avoid Overloading Responsibilities
- Be mindful not to list too many responsibilities for one person, as this may concern investors.
- Investors prefer to see a well-rounded team with each individual adequately handling their assigned tasks.
By following these tips and guidelines, you can effectively showcase your management team in your business plan and demonstrate to investors that you have a strong and competent team in place to drive the success of your business. Remember, the key to a successful business plan lies in the strength of your team.
