Creating Your Management Team Plan

Creating Your Management Team Plan

The long-term success of many companies depends, above all, on the quality of the team that provides leadership, direction and vision. In some cases, in fact, investors have been know to fund a start-up company purely based on the basis of the people who will run it.

If you’re going into business all alone, you don’t have to spend too much time describing yourself in your plan – although it’s not a bad idea to review your own education, experience, and accomplishments and write up a resume. Sole proprietors are sometimes called on to provide information about themselves to bankers, suppliers, and even prospective customers.

If you’re running a small business, include biographies of your top managers in your plan. We recommend limiting your plan to no more than 5 people – individuals in senior posts who are involved with day-to day operations of the business. This includes all the big C’s:

• CEO Chief Executive Officer
• COO Chief Operations Officer
• CFO Chief Financial Officer
• CTO Chief Technology Officer

[1]

Take some brief notes on articles below, as well as helpful info from the paragraphs above. Title and number it accordingly, add it to your assignment log, and retain it for a future notebook check.

Creating Your Management Team Plan
(This article includes questions to ask of yourself before writing your plan)
[2]
Creating Your Resume
[3]

It is now time for you to create your management team plan. Develop the appropriate plan for your business. This may be limited to a resume, but depending on the size of your business, could include such things as an organizational chart (that can easily be created in Word, Excel, PowerPoint & others), an overview of your team (biographies), and even possibly a brief description of members of your Board of Directors, Advisory Board or consultants who will play a major role in making your business a success. Remember, the goal of a management team plan is to present your team's qualifications and describe how your team has the capabilities to execute your business concept.

Use the worksheet (below) as a starting point. Title/number it and retain it for a future notebook check.
Management Team Plan Worksheet
The worksheet is hosted by Host-files.com. When you click on the link above, it will take you to their site. Midway down the screen, you will see “form 0609.pdf”. click “download” to view.

Before you begin word-processing your management team plan, you may wish to look at some samples, as a reference. You can download some management team plan examples at Host-files.com. When you click on the link above, it will take you to their site. Midway down the screen, you will see a word document icon. Click “download” to view.

Click here to review the grading rubric , before you turn in your word-processed first draft.

Footnotes:

[1] Steven Peterson, PhD & Peter E. Jaret, Business Plans Kit For Dummies (Indianapolis, Indiana : Wiley Publishing 2001 ) pg 139
[2] “The Business Plan – Management Team Plan, Computer Concierge International, February 7, 2007
[3] “Your Resume”, Purdue Online Writing Lab, February 7, 2007