Management

This section is, without doubt, the single most important part of the document. Potential financiers regularly judge a business on the basis of the strength of the management.

Your business plan must demonstrate that you and any other key members of your team have the ability to operate a successful business. Outsiders will look for an identifiable combination of technical expertise, management skills and relevant track records which together indicate that your business is run by individuals with the management, technical, marketing and financial acumen to ensure that it has the best chance of success.

If certain key skills are missing or weak you should be honest about this and state how you intend to fill any gaps.

Key Elements

Points for inclusion are as follows:

Organisation chart.
CVs of senior management.
Details of any non-executive directors.
Workforce qualifications and skills.
Contracts of employment - brief details.
Methods of remuneration and incentive schemes.
Pension scheme details.
Comments on industrial relations.

Recommendations

We recommend that you should include brief curricula vitae, of say two or three lines, for each key individual and that full CVs should be included in the appendices to the overall plan.

top