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Management Team

Management Team. Module 5 Business Plan Course Ryan Murray MBA, CBA. We’ll Cover Management in 2 Parts. Part 1- How to write the management section of the business plan. Part 2-Management Theory, how to be a good manager. Business Plan – Management Section. Owners Key Employees

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Management Team

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  1. Management Team Module 5 Business Plan Course Ryan Murray MBA, CBA

  2. We’ll Cover Management in 2 Parts Part 1- How to write the management section of the business plan Part 2-Management Theory, how to be a good manager

  3. Business Plan – Management Section • Owners • Key Employees • Advisors

  4. Business Plan – Management Section • Owners • People who have a significant equity stake • Key Employees • Individuals who are critical to the success of your business • Advisors • Qualified individuals with a significant interest in the success of your business who don’t have a significant stake

  5. Business Plan – Management Section • Owners • People who have a significant equity stake • Resume Style • Key Employees • Individuals who are critical to the success of your business • Resume Style • Advisors • Qualified individuals with a significant interest in the success of your business who don’t have a significant stake • Name and Title

  6. Business Plan – Management Section • Owners • People who have a significant equity stake • Resume Style • Owners can be Key Employees • Key Employees • Individuals who are critical to the success of your business • Resume Style • Key Employees can be Owners • Advisors • Qualified individuals with a significant interest in the success of your business who don’t have a significant stake • Name and Title • Advisors should only be advisors

  7. Things to Consider for your plan • Banks/investors often want the management section first on the business plan • Getting the right team is essential for success • Don’t include non-relevant experience • You can include resumes in the appendix • Don’t “pad” your management team (everyone should be actively involved in the success of the business • If you are missing key people take the time to get them • (First Who, Then What)

  8. Characteristics of a great leader Personal Management Assessment Tool • If you answered yes to 10 or more • You need to work on developing your management skills • If you answered yes to 5-9 • There are too many areas of concern to create a great company • If you answered yes to 2-4 • You still have some work to do before you will experience lasting success • If you answered yes to only 1 • Any 1 of these negative habits will significantly limit or ruin your chances for becoming a great company

  9. Three Things Every Manager Needs • Counseling • Training • Mentoring

  10. Homework • Create a list of your management team • Contrast this with a list of key responsibilities, talent, experience needed • Write up the management bios • Identify your weaknesses as a manager/leader • Create a plan of action for overcoming these weaknesses

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