The business plan boot camp will consist of eight parts in total, each tackling a portion of the plan and the basics of how to handle its successful creation as prospective businesses look to secure funding and backing. Put together, these skills will help create a business plan that will wow potential investors.
Part 4. Organization and Management
The organization and management section of the business plan mainly serves to help your potential investors understand who will be involved in the decision-making as it pertains to your company. You’ll need to be able to answer a few key questions
- Who are the members of your management team and what is their background?
- Who are your board of director members and what has been their career and service experience?
- What unique skill sets and experiences are they bringing to your company?
Your potential investors want to know who you are bringing into the company and what they will be responsible for doing. This is your chance to give them a full report that introduces them to each member of your team and the skills and backgrounds that accompany them.
There are several key elements that this section should include:
The Structure of the Organization
It is important to explain in detail how your business will be organized from top to bottom and take into account payment structures and key people. This description should include the following aspects:
- The organizational structure of your company
- The ownership of your company
- Bios of your company’s management team
- What are the details of the benefits package you plan to offer your employees?
- Are you offering any incentives?
- The qualifications you require for your company’s board of directors
- Who is on your board and their bios?
- How do you plan to keep your board members serving on your board?
In this section you can use an organizational chart along with a narrative to add extra details to the chart. It is important to provide immense detail. Potential investors need to know that you have thought carefully of each detail as you build your business. You also want those potential investors to understand all of the functions of your business down to exactly who will do what.