Growthink Says Not to Merely Include Resumes in Your Business Plan
Details Growthink's announcement not to use just resumes in your business plans. Explains the importance of presenting your management team's talents in other ways.
Los Angeles, CA (PRWEB) February 26, 2005 -- Even the best new concept or existing plan will fail if executed poorly. As such, the Management Team section of the business plan must prove to investors why the key company personnel are uniquely qualified to execute on the business model. However, according to business plan development firm Growthink, too many business plans miss the mark by merely include resumes of team members in the Management Team section.
Rather, according to Growthink, the Management Team section should include biographies that highlight the most relevant past positions that the individuals have held and specific successes in each. These successes could include launching and growing new businesses or managing divisions of established companies.
Team member biographies should be tailored to the company's growth stage. For instance, a start-up company should emphasize its management's success launching and growing companies. A more mature company should emphasize how team members have successfully operated within the framework of larger enterprises.
Depending upon the stage of the company, key functional areas may be missing from the team. This is acceptable provided that the plan clearly defines the roles that these individuals will play and identifies the key characteristics of the individuals that will be hired. However, it is generally not favorable if personnel are missing for ultra-critical roles. For example, a plan that is fundamentally a marketing play should not seek financing without a stellar marketing team.
The Management Team section should also include biographies of the company's Advisory Board and/or Board of Directors. While having well-known advisors/board members adds credibility to the business plan, it is highly effective to explain how these advisors will directly impact the company through strategic advice and/or providing conduits to key clients, partners, suppliers, etc.
In summary, Growthink says that the Management Team section of the business plan is an opportunity to prove to investors that your company has the necessary talent to succeed. Rather than waste this opportunity by merely showing employee resumes, which could be included in the Appendix, the section should be used to explain precisely how the team is uniquely qualified to execute the venture in its present state.
For more information please visit:
http://www.Growthink.com
Contact Information:
Growthink
1800 Abbot Kinney Blvd., Suite B
Los Angeles, CA 90291
Tel: 877-BIZ-PLAN (877-249-7526)
Fax: 310-943-2693
Email: info@growthink.com
###
|
