| Even the best new concept or existing plan will fail | | | | functional areas may be missing from the team. |
| if executed poorly. The Management Team | | | | This is acceptable provided that the plan clearly |
| section of the business plan must prove to the | | | | defines the roles that these individuals will play and |
| investor why the key company personnel are | | | | identifies the key characteristics of the individuals |
| "eminently qualified" to execute on the business | | | | that will be hired. However, it is generally not |
| model. | | | | favorable if personnel are missing for ultra-critical |
| The Management Team section should include | | | | roles. For example, a plan that is fundamentally a |
| biographies of key team members and detail their | | | | marketing play should not seek financing without a |
| responsibilities. It is important that these | | | | stellar marketing team. |
| biographies are not merely resumes that include | | | | The Management Team section should also include |
| the educational backgrounds and previous job | | | | biographies of the company's Advisory Board and |
| titles and responsibilities of the team members. | | | | or Board of Directors. While having well-known |
| Rather, biographies should highlight the most | | | | advisors/board members adds credibility to the |
| relevant past positions that the individuals have | | | | business plan, it is highly effective to explain how |
| held and specific successes in each. These | | | | these advisors will directly impact the company |
| successes could include launching and growing new | | | | through strategic advice and/or providing conduits |
| businesses or managing divisions of established | | | | to key clients, partners, suppliers, etc. |
| companies. | | | | In summary, the Management Team section of |
| Team member biographies should be tailored to | | | | the business plan is an opportunity to prove to |
| the company's growth stage. For instance, a | | | | investors that your company has the necessary |
| start-up company should emphasize its | | | | talent to succeed. Rather than waste this |
| management's success launching and growing | | | | opportunity by merely showing employee |
| companies. A more mature company should | | | | resumes, which could be included in the Appendix, |
| emphasize how team members have successfully | | | | the section should be used to explain precisely |
| operated within the framework of larger | | | | how the team is uniquely qualified to execute the |
| enterprises. | | | | venture in its present state. |
| Depending upon the stage of the company, key | | | | |