Writing A Business Plan Organization and Management Section
- September 3rd, 2014
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Step 4: Business Plan Organization and Management
Having the idea to create a business and doing all the necessary research on your industry, market, and competition are all important steps in starting your own company, but the real backbone of your company is in its organization and management. This part of your business plan is absolutely critical, because the strength of your organizational structure is what your company will depend on to weather any storms that may come.
In your business plan organization and management section, you’ll need to outline the organizational structure your company plans to have in place, detailed information about the ownership of the company, profiles of the people who make up your management team, and the qualifications held by your board of directors. All of this information is meant to instill confidence in readers and potential investors that your company is in good hands and is on the path to success.
Though you may feel it’s silly to give a detailed rundown of your organization if it’s only run by one or two people, anybody who’s reading your business plan is interested in the specifics of your company, so it’s your job to be sure they walk away with all the information they wanted. Who are the key players in your business? What roles do they fill? What is their background and what qualifies them to perform their jobs? What responsibilities will they have at the company and what value will they provide? In addition to details about the individuals, you’ll also want to include a detailed description of each company division or department, and the functions that they serve.
If your company has an advisory board, this is the section where you’ll list its members. How do you plan on keeping the board involved? What kind of salary and benefits packages will you be offering your employees? Will you be offering incentives or promotions? If so, what will they be? These answers are important to assure readers that your company will be staffed by people who work hard and are happy to be there.
Continue to Page 2 of Step 4: Business Plan Organization and Management >