management team in business plan example for students

How to Write the Management Team Section of a Business Plan + Examples

Written by Dave Lavinsky

Over the last 20+ years, we’ve written business plans for over 4,000 companies and hundreds of thousands of others have used the best business plan template and our other business planning materials.

From this vast experience, we’ve gained valuable insights on how to write a business plan effectively , specifically in the management section.

What is a Management Team Business Plan?

A management team business plan is a section in a comprehensive business plan that introduces and highlights the key members of the company’s management team. This part provides essential details about the individuals responsible for leading and running the business, including their backgrounds, skills, and experience.

It’s crucial for potential investors and stakeholders to evaluate the management team’s competence and qualifications, as a strong team can instill confidence in the company’s ability to succeed.

Why is the Management Team Section of a Business Plan Important?

Your management team plan has 3 goals:

To prove to you that you have the right team to execute on the opportunity you have defined, and if not, to identify who you must hire to round out your current team
To convince lenders and investors (e.g., angel investors, venture capitalists) to fund your company (if needed)
To document how your Board (if applicable) can best help your team succeed

What to Include in Your Management Team Section

There are two key elements to include in your management team business plan as follows:

Management Team Members

For each key member of your team, document their name, title, and background.

Their backgrounds are most important in telling you and investors they are qualified to execute. Describe what positions each member has held in the past and what they accomplished in those positions. For example, if your VP of Sales was formerly the VP of Sales for another company in which they grew sales from zero to $10 million, that would be an important and compelling accomplishment to document.

Importantly, try to relate your team members’ past job experience with what you need them to accomplish at your company. For example, if a former high school principal was on your team, you could state that their vast experience working with both teenagers and their parents will help them succeed in their current position (particularly if the current position required them to work with both customer segments).

This is true for a management team for a small business, a medium-sized or large business.

Management Team Gaps

In this section, detail if your management team currently has any gaps or missing individuals. Not having a complete team at the time you develop your business plan. But, you must show your plan to complete your team.

As such, describe what positions are missing and who will fill the positions. For example, if you know you need to hire a VP of Marketing, state this. Further, state the job description of this person. For example, you might say that this hire will have 10 years of experience managing a marketing team, establishing new accounts, working with social media marketing, have startup experience, etc.

To give you a “checklist” of the employees you might want to include in your Management Team Members and/or Gaps sections, below are the most common management titles at a growing startup (note that many are specific to tech startups):

Founder, CEO, and/or President
Chief Operating Officer
Chief Financial Officer
VP of Sales
VP of Marketing
VP of Web Development and/or Engineering
UX Designer/Manager
Product Manager
Digital Marketing Manager
Business Development Manager
Account Management/Customer Service Manager
Sales Managers/Sales Staff
Board Members

If you have a Board of Directors or Board of Advisors, you would include the bios of the members of your board in this section.

A Board of Directors is a paid group of individuals who help guide your company. Typically startups do not have such a board until they raise VC funding.

If your company is not at this stage, consider forming a Board of Advisors. Such a board is ideal particularly if your team is missing expertise and/or experience in certain areas. An advisory board includes 2 to 8 individuals who act as mentors to your business. Usually, you meet with them monthly or quarterly and they help answer questions and provide strategic guidance. You typically do not pay advisory board members with cash, but offering them options in your company is a best practice as it allows you to attract better board members and better motivate them.

Management Team Business Plan Example

Below are examples of how to include your management section in your business plan.

Key Team Members

Jim Smith, Founder & CEO

Jim has 15 years of experience in online software development, having co-founded two previous successful online businesses. His first company specialized in developing workflow automation software for government agencies and was sold to a public company in 2003. Jim’s second company developed a mobile app for parents to manage their children’s activities, which was sold to a large public company in 2014. Jim has a B.S. in computer science from MIT and an M.B.A from the University of Chicago

Bill Jones, COO

Bill has 20 years of sales and business development experience from working with several startups that he helped grow into large businesses. He has a B.S. in mechanical engineering from M.I.T., where he also played Division I lacrosse for four years.

We currently have no gaps in our management team, but we plan to expand our team by hiring a Vice President of Marketing to be responsible for all digital marketing efforts.

Vance Williamson, Founder & CEO

Prior to founding GoDoIt, Vance was the CIO of a major corporation with more than 100 retail locations. He oversaw all IT initiatives including software development, sales technology, mobile apps for customers and employees, security systems, customer databases/CRM platforms, etc. He has a B.S in computer science and an MBA in operations management from UCLA.

We currently have two gaps in our Management Team:

A VP of Sales with 10 years of experience managing sales teams, overseeing sales processes, working with manufacturers, establishing new accounts, working with digital marketing/advertising agencies to build brand awareness, etc.

In addition, we need to hire a VP of Marketing with experience creating online marketing campaigns that attract new customers to our site.

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Other Resources for Writing Your Business Plan

How to Write an Executive Summary
How to Expertly Write the Company Description in Your Business Plan
How to Write the Market Analysis Section of a Business Plan
The Customer Analysis Section of Your Business Plan
Completing the Competitive Analysis Section of Your Business Plan
Financial Assumptions and Your Business Plan
How to Create Financial Projections for Your Business Plan
Everything You Need to Know about the Business Plan Appendix
Business Plan Conclusion: Summary & Recap

How to Write Management Team Section in a Business Plan

Free Ultimate Guide On Writing A Business Plan

May 1, 2024

A business is as efficient as its team and its management. Therefore, it becomes important for business owners to build a structured management team that achieves the objectives and goals set by the organization.

Andrew Carnegie, an American steel magnate, beautifully summarized it –

“Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives.”

A business management plan helps build an efficient team and formalizes business operations. This helps businesses streamline strategies to achieve their goals.

So, if you are a business owner who is looking to formalize their business structure and write the management team section in their business plans, this guide is for you.

Here’s a sneak peek into what you’ll learn:

Sounds good? Let’s dive in.

What is the Management Section of a Business Plan?

The management section of a business plan is an in-depth description of a business’s team, its structure, and the owners of a business.

The section discusses ‌who is on the management team—internal and external, their skill sets, experiences, and how meaningfully they would contribute to an organization’s mission statement and goals.

Now that we have defined what the management section of a business plan is, let’s understand why it is so important.

Importance of a Business Plan Management Section

The management section helps you to

Showcase leadership: The management team section helps you showcase how qualified and experienced team you have.
Clarify team roles: It outlines who does what in your team, ensuring everyone knows their key performance areas and works together towards the same goals.
Attract investors: Present your team in the best possible way, as it is one of the key factors in making the final investment decision.

What to include in the Management Section of a Business Plan?

Now that you know why exactly a management section in the business plan is necessary, let’s move ahead with what to include in it:

1. The Management Team

An organization’s entire management team can be divided into parts — the internal team and the external team. Let us see those in detail:

The Internal Management Team

A business team consists of several departments. The most common departments are—marketing, sales, IT, customer service, operations, finance, and HR.

These departments depend on the nature and functioning of your business. For example, a dental clinic may not require a sales department per se.

The entire management team is distinguished according to their responsibility. This helps the business owners and investors be aware of the roles, benefits, ESOPs (if applicable), profit sharing (for sales), work contracts, NDAs (Non-Disclosure Agreements), and Non-Competition Agreements of the entire team.

It is recommended that business owners collect and document the following information about their team:

Educational Background
Work Experience
Accomplishments

For example, your present VP of Marketing helped their previous company grow its bottom line from $3 million to $10 million over 18 months.

The External Management Team

The external management team is usually composed of—advisory board members and professional services.

Advisory board members help by:

Bringing their industry expertise, experience, and knowledge to the table.
Offering strategic advice and helping the business develop long-term goals with future considerations in mind.
Having a lot more contacts than any other individual can help businesses grow.

Credible advisory board members show great commitment to a company’s growth. Therefore, it becomes important to mention their experience and specialization in the business management plan.

The advisory board members can help give valuable advice that internal team members need or lack.

Usually, board members meet quarterly or monthly to provide strategic guidance in place of stock options in your company. This helps attract the best advisors and motivates them to invest in your business.

On the other hand, professional service helps by

Offering highly specialized advice and sharing knowledge.
Helping through the implementation process of strategies.

Such services help businesses leverage skills that would be difficult to build and acquire over a short period.

Examples of such professional services are:

IT Consultants
Business coaches and consultants

After a brief overview of the management team, let’s move forward.

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management team in business plan example for students

2. The Management Team Gaps

The management team gap is an important part of the management section. Primarily because it helps document if your management team currently has gaps or missing skills.

Your team may lack a few required skills while starting. The management team gaps help you to be aware and make efforts to close this gap.

As a business owner, you must document what positions are missing and who ought to fill those positions or take responsibility.

For example, if you need a VP of Sales, clearly document this in the section.

Also, write down the job description and key responsibilities to be undertaken. For example—you might mention that the role requires 10 years of experience in the sales domain. The applicant must have experience handling a sales team, closing new accounts, and working in tandem with the marketing team.

Be as detailed as possible. This will help you build a checklist while interviewing the right candidate and also win investor confidence in your managerial skills.

Here are a few key positions you would want to include in your management team business plan:

Founder and/or CEO
Chief Technical Officer (CTO)
Chief Marketing Officer (CMO)
Head of Product Management (PM)
VP of Sales
VP of Marketing
Business Development Manager
Customer Service Manager
Sales Managers/Sales Staff
Human Resources Manager
Advisory Board Members

3. The Management Structure

The management structure defines how a business organizes its management hierarchy. A hierarchy helps determine all team members’ roles, positions, power, and responsibilities.

The management structure also depends upon the type of business ownership. Business ownership can be—a sole proprietorship, partnership, or LLC.

Following is a sample management structure of an organization.

Now that we understand what details we need to document in business management plans, let’s have a look at the example.

Example of a Management Section Plan

[management section of a hotel], [management team], internal team members.

Name: Charles Fargo Role: Owner Responsibility: Formulating key strategies, defining budgets, and building a business plan Experience: 35 years of owning multiple hotels in Las Vegas Educational Background: B.Sc in Hospitality Management from South Dakota State University.

Name: Michael Clark Role: General Manager Responsibility: Overall hotel operations – guest interactions, revenue management, brand ambassador of the hotel, customer satisfaction, and experience, leadership to all departments Experience: 25 years working with several technology hotels as the general manager. Educational Background: MBA from Wharton School

Name: George Trump Role: Department Manager Responsibility: Manage employees, smooth coordination amongst employees, plan daily affairs of the department, strategize, prepare reports, and deal with complaints and suggestions. Lead team members to function as a team Experience: 15 years working as a department manager Educational Background: BSc in Hotel Management from Texas University

Note: There can be multiple Department Managers depending on the nature of your business. In the case of hotels, departments can include – housekeeping, logistics, security, food, and banquets.

Name: Donald Clooney Role: Marketing and Sales Manager Responsibility: Increase occupancy and generate revenue. Position the hotel as an option for leisure activities, relaxation, and holidays. Experience: 11 years working as the marketing and sales manager for hotels Educational Background: MBA in Tourism and Hospitality from Midway University

Name: Oprah Williams Role: Human Resources Manager Responsibility: Recruit and train hotel staff, maintain smooth onboarding process for new recruits, train, counsel, and coach staff, resolve conflicts, and conduct performance reviews Experience: 9 years working as human resources manager for hotels Educational Background: MBA in Human Resources Management from California University

External Team Members

Advisory Board Member

#1 Richard Branson Responsibility: Strategic advisory for sustainable growth and expansion Experience: Founder of Virgin Group

Professional Services

#1 Digital Marketing Agency – Neil Patel – Help market and sell our product using digital mediums – blog, website, YouTube, and social media.

[Management Structure]

There is a gap in one key position in our startup.

#1 Chief Finance Officer (CFO) Responsibilities: Finance, Accounting, Tracking Profit and Loss, and overseeing FP&A (Financial Planning and Analysis)

So, that’s it for today! Now that you know how to write a management team section, make sure you write the best one by mentioning all the necessary details.

If you are still confused about writing the management team sections, then you can visit various sample business plans to know more. You can even use smart business planning software to smooth your business planning process.

Build your Business Plan Faster

with step-by-step Guidance & AI Assistance.

Frequently Asked Questions

What tone should i use when writing the management team section.

When writing about your management team in your business plan, use a tone that’s confident, professional, and positive. This shows investors that your team is experienced, qualified, and able to lead your company to success.

Who should be included in the management team's business plan?

In the management team of a business plan, you should include all the key members of the company:

Top management
Founder/CEO
VP of sales

Do I need to include personal information about team members?

In a business plan, it’s not necessary to include personal information about team members unless it directly relates to their role in the business. The focus should be on professional qualifications, experience, and skills that are relevant to their position.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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10 Business Plan Examples for Students (2024)

Written by Peter Keszegh

Starting a business isn’t just for the established entrepreneurs. If you’re a student with a great business idea, or if you’re just looking to earn extra money on the side, you can set up your own business with the right steps and preparation, too!

In this article, we’ll list some business plan examples for students and how you can turn your business ideas into reality.

Opened notebook with white blank pages and pen on table

What is a business plan?

In simple terms, a business plan is a detailed document that explains everything you need to know about your business idea. It includes your goals for your business and how exactly you plan to achieve them.

A business plan should be able to explain why your product or service is valuable, your target market for your business, and your future plans for the business.

Having a well-written business plan is important, especially if you’re looking at seeking external funding from investors. Even if you’re planning to use personal funds for your business, the business plan will help outline all your operational and management strategies.

Tailoring your plan to your business

While business plans have some standard sections used by all industries, it’s best to tailor your business plan depending on what your market is. For instance, if you’re planning to sell food products, you need to write sections on sourcing ingredients and quality control.

Think about what’s special about your business, and make sure to incorporate that in your business plan. Put yourselves in the shoes of an external investor – what would they want to know about your business? Don’t be afraid to think outside the box, too.

Parts of a business plan

You might be wondering – how should we structure a business plan? Here are some key sections you might want to include when writing your business plan:

Executive summary

An executive summary is exactly that – a summary of what your business is all about and your goals for the future. Make sure to include what your product or service plans to do, your target market, and key milestones you’d like to achieve. If you have plans to source external funding, mention this here, too.

Company description

You can use this section to expound on what you plan to achieve and what your business vision is . Use this section to highlight what makes your business unique , and why your product or service offers an innovative solution.

Market analysis

If you’re looking to start a business, you need to have a good understanding of the market and who your competitors are. Do the research to make sure there’s a real need for your product or service , and make sure you know what sets your business apart from competitors.

Organizational structure

If you’re working with a team and you all have different responsibilities, make sure to put that into writing. This doesn’t have to be too formal – all you have to do is make sure everyone’s tasks are clearly delineated so there’s no overstepping.

Product line or services offered

Talk about what you plan to sell or offer as a business. What exactly does your product or service do? What makes it so special, and what can your product or service do that isn’t already offered by your competitors?

Marketing and sales strategies

How do you plan to promote your business to attract customers and secure sales ? You can talk about where you plan to sell your products or offer your services, and how you plan to advertise your business.

Financial projections and funding requests

Set financial goals for your business and identify when your business will likely break even . If you need to secure external funding, make sure to mention this here, and mention how much money you’ll be needing and how you’ll be spending it.

Relevant documents that you mentioned earlier in your business plan should be included here. For instance, if you conducted market research via a survey, put your survey data here.

Of course, don’t be limited by the sections listed here. If there are other relevant details you’d like to talk about in your business plan, don’t be afraid to explore them. For instance, if you’re looking at using new technologies and tools for your product or service, you can write a relevant section in your business plan as well.

Why students need to master business plans

Businesses aren’t just for more seasoned entrepreneurs – starting a business can prove to be useful for students who want to hone their skills and become more business-minded.

Here’s how business plans can help students:

Enhancing strategic decision-making

You’ll have to make a lot of decisions when running a business, and business plans will force you to make smarter decisions. You don’t want to make things unnecessarily difficult for you and your team only to get mediocre results – you want to make sure you make the most out of your resources!

This kind of strategic decision-making isn’t something you learn in the classroom. Hands-on business experience will be useful for you to make wise decisions, even if it means learning from mistakes.

Improving market research and analysis skills

As students, you already do a lot of research for different school projects. When setting up a business, you’ll have to do research of your own to get a better understanding of the market your business plans to work in.

Having a good understanding of the market will also improve your analysis skills. For instance, doing enough research on the retail industry will give you a better idea of who the average retail customer is, allowing you to tweak your marketing and sales strategies to capture that target market.

Honing financial literacy and forecasting

Discussions about money and numbers can get pretty confusing. When you’re setting up a business and dealing with real, tangible figures, you’ll gain a better understanding of how finances work, how profitable your business might be, and what you’ll likely be spending money on.

Business plan examples for students

If you need a little help in thinking about the kind of business you want to set up, here are 10 business plan examples for students that you can use as inspiration:

Multiethnic female friends studying with books

Tu toring services

Some students will understand subjects better than others, which means there are a number of students who’ll need a little bit of help when it comes to their academic requirements and upcoming exams.

If you’re academically gifted and have a talent for teaching, you might want to consider offering tutoring services in your school.

Executive summary : Mission, services offered, and target client demographic.
Business description: Subjects covered, and technologies used (if applicable).
Services provided: Individual tutoring, group workshops, and ongoing support options.
Market analysis: Demographic trends, existing offerings, and unmet needs.
Marketing strategy: Flyers, community center partnerships, and word-of-mouth referral programs .
Operational plan: Scheduling system, session formats (in-person, online), and materials preparation.
Management and organization: Tutor recruitment, training programs, and operational leadership.
Financial summary: Basic costs, session pricing, financial goals, and sustainability plan.

Delivery Man Wearing a Face Mask and Holding a Bicycle

Campus delivery service business

Especially during finals weeks, students can get pretty busy and can often forget to take care of themselves. How many all-nighters have you pulled as a student, and how many times have you skipped a meal to work on a deadline?

If this sounds like the kind of culture in your university, you might want to consider setting up a campus delivery service to cater to busy students. Here’s how you can set up your business plan:

Executive summary: Service overview, mission, and objectives.
Company description: Origins, campus focus, and service differentiation.
Service offering: Types of delivery services offered (e.g., food, groceries).
Market analysis: Campus demographics, needs assessment, and competitor analysis.
Marketing strategy: Promotional tactics targeting students and staff, partnerships with local businesses.
Operations plan: Delivery logistics, technology use (e.g., apps, GPS tracking), and hours of operation.
Management and organization: Team roles, volunteer vs. paid staff, and management hierarchy.
Financial plan: Start-up costs, pricing strategy, revenue projections, and break-even analysis.

Woman Wearing Pink and Black Sports Bra Holding Towel

Campus fitness and wellness programs

Another way you can help students in your school become healthier is to offer services that focus on fitness and wellness . If there’s a need for students in your school to become more physically active or to just take better care of their overall wellness, you could offer relevant programs on campus.

Executive summary: Concept, target audience, and objectives of the fitness programs.
Business description: Range of services (classes, personal training, wellness workshops).
Market analysis: Campus health trends, competitor offerings, and student wellness needs.
Services: Detailed look at program offerings, schedules, and customization options.
Marketing plan: Engagement strategies, campus events, and partnership with student health services.
Operational plan: Instructor qualifications, equipment needs, and location logistics.
Management and organization: Structure of the team, roles, and experience in health and wellness.
Financial overview: Initial setup costs, pricing strategy, revenue streams, and financial projections.

Shallow Focus Photo of Woman Using a Laptop

Student freelance platform

Freelancing is a popular way for students to earn extra income on the side, in the middle of their busy class schedules. If you have enough know-how when it comes to setting up websites or apps, you might want to consider launching a portal where student freelancers can conveniently find more freelance gigs.

Executive summary: Platform purpose, target market, and value proposition.
Business description: Niche focus (e.g., design, tutoring, programming), platform features.
Market analysis: Demand for freelance work among students, analysis of existing platforms, gap identification.
Service description: User interface, service categories, payment processing system.
Marketing and sales strategy: Campus outreach, online presence, and user acquisition strategies.
Technology plan: Website architecture, user security measures, and scalability.
Operations plan: Customer support, dispute resolution process, and freelancer vetting process.
Financial summary: Funding requirements, monetization strategy, and financial forecasts.

Positive young diverse students surfing smartphone in hallway

Mobile app for campus services and networking business

Maybe you’ve got an enormous campus that boasts a lot of helpful activities and services that most students might not already be aware of. If you want to promote these services in an innovative way, you could think about setting up a mobile app that students can use as a one-stop-shop for all their campus service needs.

Executive summary: Introduction to the app, its core functionalities, and target user base.
Business description: Insight into how the app facilitates campus life, services offered, and networking features.
Market analysis: Current apps in the market, student needs analysis, and potential for growth.
Product description: Detailed functionalities, user interface design, and privacy features.
Marketing plan: Strategies for app launch, user acquisition, and partnerships with university departments.
Technology plan: Development roadmap, platform compatibility, and maintenance plan.
Management and operations: Team structure, developer roles, and operational milestones.
Financial projections: Budget for app development, marketing costs, monetization strategies, and revenue forecasts.

Eco-friendly apparel brand

Everyone’s becoming more eco-conscious nowadays, and brands who often highlight their environmentally-friendly practices do get a good reputation. If you want to tap into that market and mix it with a bit of fashion design, you can choose to set up an eco-friendly apparel business.

Executive summary: Brand mission, product range, and sustainability goals.
Company background: Inspiration behind the brand, target demographic, and brand story.
Products and services: Description of apparel line, materials used, and production process.
Market analysis: Trends in sustainable fashion, target market behavior, and competitive landscape.
Marketing strategy: Branding, social media campaigns, and collaborations with eco-conscious influencers.
Operational plan: Supply chain management, ethical sourcing, and online versus physical sales approach.
Management team: Roles, responsibilities, and background of team members.
Financial plan: Initial investment, cost structure, sales forecast, and profitability analysis.

Set of natural nonpolluting toiletries on marble table

Sustainable campus living products

Maybe you’re not too keen on selling apparel, but you’d still like to tap into the market of students who prioritize sustainable brands and products.

If you also share the same passion for sustainability and have ideas on how to cater to students’ needs, you might want to consider selling sustainable products instead that dormers and other students will find useful for everyday life.

Executive summary: Mission statement, product line overview, and sustainability goals.
Company overview: Background on the inspiration for eco-friendly products targeted at students.
Market analysis: Trends in sustainability, potential campus markets, and niche opportunities.
Products offered: Description of eco-friendly living products (reusable containers, biodegradable goods).
Marketing and sales strategy: Campus-based initiatives, eco-friendly partnerships, and social media.
Operations: Sourcing of materials, product manufacturing, and logistics.
Management team: Founder’s background, operational management, and advisory board.
Financial projections: Cost analysis, sales forecast, funding requirements, and profitability timeline.

Student event planning service

A big part of student life is all about events and getting to meet new people. Not only is event planning a big thing for official student organizations, it’s also helpful for smaller communities who want to organize events to meet like-minded people.

If events are a popular thing in your school, you might benefit from setting up a student event planning service.

Executive summary: Overview of services, unique selling points, and business goals.
Company description: Types of events covered (e.g., academic, social, sporting).
Service offering: Full event planning, day-of coordination, and consultation services.
Market analysis: Campus event culture, demand for event planning services, competitor overview.
Marketing plan: Outreach strategies, partnerships with campus organizations, and promotional materials.
Operational strategy: Event logistics, vendor relationships, and event execution checklist.
Management structure: Leadership team, volunteer opportunities, and staffing needs.
Financial projections: Pricing model, expected expenses, revenue estimates, and growth potential.

Selective Focus Photography of Woman Holding Camera

Campus event photography service

Every big event needs good documentation to go with it. Even if your school isn’t big on events, you can choose to offer photography services to groups of friends who want cute little photoshoots in the most Instagrammable parts of your campus.

If you have a knack for photography, here’s how you can start offering photography services on campus:

Executive summary: Concept and goals for providing photography services for campus events and personal photoshoots.
Company description: Insights into the types of events covered (e.g., graduations, parties, portraits).
Services offered: Packages available, including event coverage, individual portraits, and group sessions.
Market analysis: Demand for photography services on campus, existing offerings, and unique selling points.
Marketing strategy: Portfolio development, social media presence, partnerships with event organizers.
Operational plan: Booking process, event execution, post-processing, and delivery of images.
Management team: Background of the photographer(s), roles in business management, marketing, and customer service.
Financial plan: Pricing strategy, cost of equipment and travel, revenue projections, and growth potential.

Woman Looking At Paintings Displayed On The Wall

Student art gallery and workshop space

Maybe you’re from an art school, or your campus boasts a rich and talented artistic community. If your school’s artists are looking for a space to display their art, setting up a gallery and workshop space might be a profitable and sustainable business opportunity.

Executive summary: Vision, goals, and unique aspects of the art gallery and workshop space.
Company overview: Concept behind promoting student art, workshop themes, and community benefits.
Market analysis: Interest in local art, campus cultural activities, and potential for art sales.
Services and products: Exhibition schedules, workshop offerings, and art sales.
Marketing strategy: Promotions through campus channels, local art scenes, and social media.
Operations: Gallery setup, workshop logistics, and artist collaboration processes.
Management team: Backgrounds in art management, curation, and education.
Financials: Start-up expenses, pricing for art and workshops, expected revenue, and growth potential.

Young troubled woman using laptop at home

Common mistakes to avoid for student businesses

Setting up a business is no walk in the park, especially for young and inexperienced students. Here are some common mistakes that you can avoid when planning your own business, so you can steer clear of bigger problems down the road:

Lack of a well-defined business plan

It should go without saying that insufficient planning will make it difficult to get your business off the ground. Make sure you put down all important details in writing , and consult experts and get insights from successful small businesses if you need to.

Underestimating the importance of market research

You’ll need more than just a cool idea to start a business. There needs to be a real need or demand for your product or service, and if there’s another business already offering the same thing, you need to make sure your product or service is different or unique.

Familiarize yourself with the existing market and what the market gaps are. Once you identify what that market needs, you can tailor your business plans to try to fill in that gap.

Overlooking legal and financial regulations

Being a student doesn’t exempt you from following standard business regulations. Double check with experts and do extra research to make sure your business complies with all necessary regulations. For instance, you may need to officially register your business, or secure necessary permits.

Inadequate financial planning and management

Your business needs to be on financially stable ground for it to stay sustainable. Make sure you know if you’re in good financial standing to launch your business , and make sure you aren’t spending more than what you can actually afford.

Ignoring the importance of a strong team

It’s tempting to do everything yourself, especially if you lack funds or the ability to delegate tasks. However, you might benefit from having a team of members with various skills. A strong team will bring in more ideas to the table , and will be helpful in managing heavy workloads.

Overlooking customer feedback

You need to listen to what your customers are saying to adapt to their needs and wants. Are your products too expensive? Are people looking for different colors of your products? Engage with your customers so they can let you know how you can improve your business.

Neglecting online marketing

Social media is everything in today’s digital age! You’ll be able to reach a wider audience if you set up social media accounts on different platforms to advertise your services or products.

Positive multiethnic students using laptop for studies

Future steps for student business owners

So you’ve made your business plan – congratulations! But where do you go from here?

If you want to know whether or not your business is taking off and what future opportunities you can secure, here are some ideas:

Evaluating business performance

Regularly review how well your business is performing by checking product sales, total profits, and how wide your customer base is. If you’ve been earning a good amount of money and are selling popular products or services, that’s a great sign!

Make sure to listen to customer feedback , too, as your customers might give you helpful insights that you might not immediately be aware of. You can do this via informal chats with your customers, or via more formal means like customer surveys.

Exploring growth strategies

Once you’ve evaluated how well your business is performing, you might want to consider growing your business if there’s a demand for a product or service you aren’t already offering, or if there’s an adjacent market you can tap into.

For instance, if you’re offering tutoring services for basic algebra classes, you might want to offer sessions for more complicated math subjects if your tutees need them. If you’ve set up an art space that can also be used as a venue for student events, you can consider expanding your offerings.

Scaling the business

Maybe your business has really taken off and has hit a point that you can no longer meet the customer demand with your tiny team. If that’s the case, you might want to consider scaling.

You can scale your business by adding more people to your team , or ramping up your production efforts.

Building a brand

Don’t be afraid to make a name for yourself! Explore how you can create a brand for your business. This is where you can let your creative juices flow – do you want to appear like a sophisticated and professional brand, or are you going for a more quirky approach?

Cheerful multiethnic students with books sitting near university

Takeaways for business plan examples for students

The opportunities are endless if you want to set up a business as a student. Let your imagination run wild and look through business plan examples for students if you want to start selling or offering something new to your school’s community.

Don’t be intimidated by your lack of expertise or resources just yet – with the right mindset and enough determination, you’ll be able to set up your business for success and start your journey as a solid business owner!

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DECAVERSITY

10 business plan examples for students.

Are you thinking of starting a business? Let’s take a look at some business plan examples for students.

Starting a business as a student is exciting. But, like anyone else, students need support when venturing into entrepreneurship. One of the most important things to start with is learning how to create a strong business plan.

A business plan helps you set clear goals, strategies, and the necessary steps to succeed in the business world. However, not all business plans are the same. There are different types to consider, and choosing the right one depends on your specific business and goals.

In this guide, we'll walk you through the process of creating a solid business plan and introduce you to different plan types. So, let's get started and explore the world of entrepreneurship with a well-structured plan for success.

Writing the Business Plan

Crafting a business plan is a crucial move when you're starting or expanding your business, whether you’re working on a business plan project for students or a fully-fledged business person.

It helps you navigate your journey while also catching the attention of potential investors or lenders. In this guide, we'll break down every part of a business plan and share helpful tips.

What Goes in a Business Plan?

A good business plan typically has several important sections, each with its own job to do.

Business Overview : Introduction and executive summary.
Market Analysis : Understanding your target market and competition.
Marketing and Sales : Strategies to reach and convert customers.
Product/Service : Description of what you offer.
Operations and Team : How your business operates and key team members.
Financial Projection s: Future financial estimates and funding needs.
Appendix : Supporting documents, if needed.

Now, let’s get into what these sections look like.

Develop a Business Plan Worksheet

Before you start writing your business plan, it's a good idea to start with a business plan worksheet. Think of it as the foundation for your plan—a tool to gather information and get your thoughts organized.

This worksheet will help you come up with your business vision, understand your target market better, and lay out your financial projections. It's the first step to building a solid plan that sets your business on the right track.

The Executive Summary

The executive summary is your business plan's attention-grabbing headline. It's a concise preview of your plan's most critical elements, designed to engage your reader. Here's what to include:

Mission Statement : Clearly state your business's mission, describing the problem you solve and why your business exists. Define your core values and goals.
Product/Service Description : Provide a brief, compelling description of your offering, emphasizing its unique features or benefits that set it apart.
Leadership and Team : Introduce key team members and their qualifications, showcasing their expertise and their role in your business's success.
Financial Information : Give an overview of your current financial status. Mention revenue and profits if your business is running. If you seek financing, explain how much you need and where you'll invest it.
Growth Plans : Share your strategy for growth and long-term goals, outlining how you'll expand and achieve profitability.

The executive summary sets the stage for your business plan, making a strong first impression and sparking excitement for what follows.

The Products/Services

In this part, we'll dig deeper into the heart of your business—your products or services. We're going beyond the basics to look at three crucial aspects:

Benefits to Customers : Discuss how your products or services help your customers. Explain how they solve specific problems or fulfill the needs of your target market. What makes them stand out? What's the unique value they bring compared to what competitors offer?
Product Lifecycle : Every product or service has a journey. Tell us about the expected lifecycle of yours. Are you planning updates, new versions, or related offerings in the future? Knowing this helps us understand how your business will evolve.
Intellectual Property : If it applies to your products or services, include any intellectual property rights you have. This might include copyrights, trademarks, or patents. These rights protect your creations and can be valuable assets.

Remember, this section is all about offering the essence of what you're offering and why it's special.

Target Market

Knowing your target market is a cornerstone of business success. Let's simplify:

Who Are Your Customers?

Demographics : Basic info like age, gender, income, and location helps you target effectively.

What Makes Them Tick?

Psychographics : Understand their interests, lifestyle, and buying habits to connect personally and tailor your marketing.

Market Trends

Stay Updated : Keep an eye on industry trends and market shifts. Adapt to capitalize on opportunities.

Why does it matter? Think of it like knowing the weather—it helps you plan. Understanding your target market is your key to getting ahead.

students working together at coffee shop

The Marketing Strategy

Your marketing and sales strategies are crucial for attracting and retaining customers.

Marketing Mix

Here, we'll break down each element of your marketing mix—product, price, promotion, and place (distribution).

Product : Describe your product offerings in detail. What are their unique features and benefits? Why would your target customers choose your products over others in the market? Be clear about what sets you apart.
Price : Explain your pricing strategy. Will you compete on price, offering lower costs than competitors? Or will you position your products as premium and charge a higher price? Detail any discounts, bundles, or special offers you plan to implement.
Promotion : Outline your promotional tactics. How will you create awareness and interest in your products? This can include advertising, public relations, content marketing, social media campaigns, and more. Specify your marketing budget and the platforms you'll utilize.
Place (Distribution) : Describe your distribution strategy. How will your products reach your customers? Will you sell directly to consumers, through retailers, or online? Highlight your distribution channels and logistics. Explain how you'll ensure your products are readily available where your customers want them.

Sales Process

Now it’s time to discuss how you plan to turn potential leads into paying customers.

Direct Sales : If your strategy involves direct sales, explain how your sales team will engage with potential customers. Provide insights into your sales force, their training, and how they will approach prospects.
Online Sales : If online sales are a significant part of your strategy, detail your e-commerce platform. Discuss the user experience, payment processing, security measures, and any online marketing tactics to drive traffic and conversions.
Conversion Strategy : Highlight how you plan to convert leads into paying customers. Will you offer free trials, consultations, or samples? Describe your approach to closing deals and fostering customer loyalty.

By going beyond the surface and addressing these elements in detail, you'll have a marketing and sales strategy that can effectively attract and retain customers for your business.

Discuss Your Distribution Strategy

Your distribution strategy is how you get your products or services to your customers effectively:

Distribution Channels : These are the paths your products or services take, like physical stores or online platforms.
Logistics and Transportation : This is how your products move, whether you do it yourself or use other companies.
Inventory Management : It's about keeping the right amount of stock without having too much or too little.
Geographic Reach : It's where your customers are, whether nearby, across the country, or worldwide.
Efficiency and Costs : It's about being fast and not spending too much money.
Customer Convenience : It means making it easy for customers to buy from you.
Technology and Automation : Using tools and systems to make things work smoother.
Scaling and Adaptation : It's about being ready for more customers or changes in the market.

Having a good distribution strategy helps make sure your products or services reach the right customers the right way.

The Competition

It's essential to have a solid grasp of your competitors and strategically position your business to thrive.

Competitive Analysis

To stay ahead of the game, make sure to conduct a thorough competitive analysis. This means rolling up your sleeves and diving deep into the strategies and operations of your rivals.

In-Depth Examination : Start by examining your competitors meticulously. Look into their products or services, pricing strategies, marketing tactics, and customer base. The goal is to gain a comprehensive understanding of what they do and how they do it.
Strengths and Weaknesses : Highlight your competitors' strengths and weaknesses. What are they exceptionally good at, and where do they fall short? Identifying these aspects will help them identify opportunities to capitalize on their weaknesses and leverage their strengths.
Success Insights : Share your insights into what makes your competitors successful. Understand their unique selling propositions, customer engagement strategies, and market positioning. This knowledge will provide you with a foundation for your own strategies.
Outperforming Plans : Once you've dissected your competitors, outline your plan to outperform them. Whether it's through innovation, superior customer service, or better pricing, make it clear how you intend to gain a competitive edge.

Competitive Advantage

Every business has something that sets it apart from the rest – these are your competitive advantages. In this section, it's time to highlight why customers should choose you over the competition.

Expert Team : If you have experts on your team, let people know. Customers trust businesses with knowledgeable professionals who offer excellent products or services. If you're new, focus on any relevant experience to build trust as your business grows.
Unique Partnerships : If your business has forged unique partnerships or collaborations that give you an edge, make it known. These alliances can lead to exclusive offerings, cost advantages, or increased visibility in the market.
Ideal Location : If your business benefits from an ideal location that attracts foot traffic or serves a specific target demographic, this can be a powerful competitive advantage. Explain how your location enhances your business prospects.

By underlining your competitive advantages, you're essentially telling your audience why you're not just another player in the market.

The operations section is your day-to-day business plan. It helps your team understand how to make your business run smoothly. Here are the key parts:

Objectives and Goals : State what you want to achieve, both short and long-term. Ensure they align with your overall plan.
Procedures and Processes : Explain how things will get done, from making your product to customer service.
Timeline and Milestones : Set dates and goals to track your progress.
Resource Needs : List what you need to run your business, like equipment and people.
Supply Chain : Describe how you'll get what you need and manage it.
Quality Control : Detail how you'll ensure quality, whether through checks or testing.
Regulations : Mention any rules you need to follow, like permits or licenses.
Risk Planning : Identify potential problems and your backup plans.
Growth Strategy : Explain how you'll handle growth, like hiring more people or expanding to new markets.
Costs : Break down your expenses, both fixed and variable, and how you'll manage them.

By laying out these details, you'll be well-prepared to handle the challenges and growth opportunities that come your way.

The Management Team

In this section of your business plan, you'll want to cover a few key areas:

1. Personal Background : Start by introducing the key people in your management team, if there are any. If it’s just you—don't worry! Give some basic details like names, ages, where they live, their interests, and their educational background. Also, mention any special skills they bring to the table.

2. Business Experience : Talk about their history in the business world. Have they been involved in other businesses? Have they held important positions before? Share their past achievements and roles in previous companies.

3. Track Record : Highlight their successes, the responsibilities they've handled, and their capabilities. Show how their previous experiences have prepared them for the roles they'll play in your business.

4. Education : Mention their formal and informal education, like degrees, certifications, or courses they've taken that are relevant to your business.

5. Financial Standing : Include personal financial statements and supporting documents to demonstrate their financial stability and ability to contribute to the business if necessary.

6. Work History : Detail their direct experience in similar businesses and how it aligns with your current venture.

7. Roles and Responsibilities : Clearly define who does what on the management team. Explain why they're the right fit for their roles and who makes the final decisions.

8. Organization Chart : Create a simple chart that shows how your team is structured and lists each person's responsibilities.

9. Compensation and Benefits : Outline the pay and bonuses each management member will receive. Also, mention any benefits like health insurance or life insurance.

10. External Resources : Tell about any outside resources you can tap into, like lawyers, accountants, or support from organizations that help small businesses.

11. Board of Directors : If you have a board, introduce them and explain how they'll help guide your business.

12. Online Resources : Mention any useful internet resources you'll use for research and networking.

Including these details paints a picture of your team's qualifications and their role in making your business a success.

In this part of your business plan, focus on who will be working with you.

Current and Future Needs : Start by saying how many people you have on your team right now, if any. Then, talk about how many team members you think you'll need in the near future (like the next year or two) and in the longer term (three to five years from now).
Skills Required : Describe what skills your team members should have. Think about what makes them good at their jobs and what special skills might be needed for your business.
Job Descriptions : Explain what each person on your team will be responsible for. This will help everyone better understand their roles. Keep in mind that your roles might change as your business grows.
Finding People : Discuss how you plan to find and hire the right people. As students, you might use your school's resources and online job platforms or work with other students who have the skills you need.
Pay and Benefits : Clarify if you'll be paying salaries, hourly wages, or both. You can also mention any extra rewards or bonuses based on performance. Since you're a student, you may not offer extensive benefits initially.
Extras like Overtime : Say if you'll pay extra for overtime work and when that might happen. Being students, you'll want to manage your workload efficiently, especially during busy times.

By covering these points, you'll show that you've considered your team's needs and are ready to manage your business's human resources effectively, even as students.

Focused blogger working on project at home

Financial Analysis

Think of this section as the pulse of your business plan. It gives you a detailed look at your business's financial health and sustainability. This part is crucial for students because it helps them make informed decisions and attracts potential investors or lenders.

Balance Sheet

Get a certified public accountant (CPA) to help you create a balance sheet. This document paints a picture of your business's financial situation at a specific moment. It has three main parts:

Assets : What your business owns ( cash, equipment, or inventory).
Liabilities : What your business owes (such as loans or outstanding bills).
Owner's Equity : The owner's stake in the business, which is assets minus liabilities. It's basically your business's net worth.

Break-Even Analysis

This is significant because it tells you when your business will start making money. It determines the minimum amount of sales revenue needed to cover both fixed costs (like rent and salaries) and variable costs (like materials and utilities). It's based on info from the income statement and cash flow projections.

Income Statement (Profit and Loss Statement)

The income statement gives you the lowdown on your business's financial performance over a specific time frame, usually monthly or annually. It shows how much money you made and how much you spent. Subtract the expenses from the income, and you've got your profit or loss. It's all about how well your business handles its cash.

Cash Flow Statement

Cash is king in business, and this statement forecasts how money will move in and out of your company. It predicts all cash coming in and going out, helping you ensure you have enough to cover day-to-day costs and investments and pay off any debts. A strong cash flow is crucial to keeping your business going.

As student entrepreneurs, having a CPA set up your accounting system is a smart move for accuracy. When you present these financial documents in your business plan, make sure they're clear and detailed.

These numbers prove the worth and profitability of your business idea, which can be a big draw for potential investors or lenders. So, be thorough and get the figures right.

Supporting Documentation

You'll also want to include various documents that back up the information you've presented in the main part of your plan. Keep in mind that this list might change depending on how far along your business is. Here's what to include:

Resumes : Put in resumes of the people who are key to your business. Show off their qualifications and experience to give confidence to potential investors or lenders.
Credit Information (appendix) : If relevant, add credit reports for yourself or your team members. This will prove that you're financially responsible.
Quotes or Estimates : Include any quotes or cost estimates you've received from suppliers or service providers. This helps prove that you've done your homework on expenses.
Letters of Intent from Prospective Customers : If you have letters from potential customers saying they want to use your products or services, toss those in. It shows there's a demand.
Letters of Support from Credible References : If you have supportive letters from mentors, professors, or industry experts, add those. They can vouch for your idea.
Leases or Buy/Sell Agreements : If you're renting space or buying equipment, include the agreements. It proves you have the physical assets and responsibilities in place.
Legal Documents Relevant to the Business : If there are any legal papers like incorporation documents, partnership agreements, or licenses, include them. It shows you're following the rules.
Census/Demographic Data : If your business relies on specific data about people, include statistics or reports from trustworthy sources. This information will support your market analysis and target audience information.

Remember to keep these documents well-organized in the appendix. This list covers the basics, but tailor it to your specific student business plan's needs and stage of development.

Business Plan Program

Creating a strong business plan is essential for any entrepreneur, and with the help of business plan programs and tools, you can make it more effective.

LivePlan : LivePlan is a user-friendly business planning software that guides users through creating business plans and offers financial forecasting.
Bizplan : Bizplan focuses on startups and small businesses, providing step-by-step planning, financial tools, and pitch deck creation.
Enloop : Enloop automates business plan writing using data inputs and offers financial projection tools.
PlanGuru : PlanGuru is for in-depth financial analysis and creating detailed financial projections.
Upmetrics : Upmetrics offers customizable templates, financial forecasting, and collaboration features for various business stages.
Tarkenton GoSmallBiz : Tarkenton GoSmallBiz provides business planning tools, legal resources, and marketing guidance.
Bplans : Bplans offers free business plan templates and samples for those starting from scratch.
Canva : Canva provides pitch deck templates and design tools to enhance presentations.
QuickBooks : QuickBooks aids in financial tracking and management, complementing business planning.

14 Types of Business Plans with Examples

In this section, we'll explore 10 types of business plan examples for student entrepreneurship.

1. Traditional Business Plans

These classic business plans , often prepared on paper, provide a comprehensive overview of the business, detailing its identity, goals, and strategies for success.

2. Standard Plans

Similar to traditional plans, standard business plans are created digitally, typically using software like Microsoft Word or Excel, making them easier to edit and share.

3. One-Page Business Plans

Incredibly concise, these plans condense all crucial information onto a single page, often using bullet points for clarity and brevity.

4. Annual Business Plans

Tailored for a specific year, these plans outline a business's objectives and actions for that particular period, providing a focused strategy.

5. Lean Plans

Lean business plans are streamlined versions, intentionally omitting some details to protect confidential information while offering a concise yet informative summary.

6. Business Plans for Start-ups

Specifically designed for new ventures, these plans may incorporate surveys, customer insights, and visual aids to support their customized approach.

7. Feasibility Studies

These plans investigate the viability of new product or service ideas, helping businesses make informed decisions about their implementation by analyzing their potential success.

Understanding these various types of business plans is essential for your business management studies, as they serve different purposes and contexts within the business world.

8. Strategic Plans

Concentrating on marketing and branding strategies, these plans often involve extensive market research and prioritize effective brand promotion.

9. Operational Plans

Emphasizing practical steps, operational plans use data, charts, and graphs to guide a business's actions toward its goals, with a strong focus on execution.

10. Internal Plans

Highly detailed and meant exclusively for the company's internal team, these plans contain sensitive information and strategic insights for team members' use.

11. What-If plan

This type of plan explores various scenarios and their potential impact on the business. It helps a company prepare for unexpected situations by outlining strategies for different outcomes.

12. Expansion plan

An expansion plan outlines strategies for growing a business, whether through opening new locations, entering new markets, or diversifying product lines. It details the steps and resources needed for expansion.

14. Business Acquisition Plan

When a company intends to acquire another business, this plan outlines the acquisition strategy, financial considerations, and integration plans. It helps ensure a smooth transition and maximizes the value of the acquisition.

These plans cover a range of scenarios and goals, each serving a unique purpose in the world of business strategy. Hopefully, you can choose a business plan template for high school students that suits your needs.

Final Thoughts

Starting and running a business as a student is a journey. A well-structured business plan is essential for success, helping you define your goals and strategies. To create one, feel free to use these business plan examples for students as a source of inspiration.

It’s your tool to guide your entrepreneurial journey and increase your chances of success. So, get started, create your plan, and get started on your path to entrepreneurship with confidence.

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Write Your Business Plan | Part 1 Overview Video
The Basics of Writing a Business Plan
How to Use Your Business Plan Most Effectively
12 Reasons You Need a Business Plan
The Main Objectives of a Business Plan
What to Include and Not Include in a Successful Business Plan
The Top 4 Types of Business Plans
A Step-by-Step Guide to Presenting Your Business Plan in 10 Slides
6 Tips for Making a Winning Business Presentation
3 Key Things You Need to Know About Financing Your Business
12 Ways to Set Realistic Business Goals and Objectives
How to Perfectly Pitch Your Business Plan in 10 Minutes
Write Your Business Plan | Part 2 Overview Video
How to Fund Your Business Through Friends and Family Loans and Crowdsourcing
How to Fund Your Business Using Banks and Credit Unions
How to Fund Your Business With an SBA Loan
How to Fund Your Business With Bonds and Indirect Funding Sources
How to Fund Your Business With Venture Capital
How to Fund Your Business With Angel Investors
How to Use Your Business Plan to Track Performance
How to Make Your Business Plan Attractive to Prospective Partners
Is This Idea Going to Work? How to Assess the Potential of Your Business.
When to Update Your Business Plan
Write Your Business Plan | Part 3 Overview Video
How to Write the Management Team Section to Your Business Plan
How to Create a Strategic Hiring Plan
How to Write a Business Plan Executive Summary That Sells Your Idea
How to Build a Team of Outside Experts for Your Business
Use This Worksheet to Write a Product Description That Sells
What Is Your Unique Selling Proposition? Use This Worksheet to Find Your Greatest Strength.
How to Raise Money With Your Business Plan
Customers and Investors Don't Want Products. They Want Solutions.
Write Your Business Plan | Part 4 Overview Video
5 Essential Elements of Your Industry Trends Plan
How to Identify and Research Your Competition
Who Is Your Ideal Customer? 4 Questions to Ask Yourself.
How to Identify Market Trends in Your Business Plan
How to Define Your Product and Set Your Prices
How to Determine the Barriers to Entry for Your Business
How to Get Customers in Your Store and Drive Traffic to Your Website
How to Effectively Promote Your Business to Customers and Investors
Write Your Business Plan | Part 5 Overview Video
What Equipment and Facilities to Include in Your Business Plan
How to Write an Income Statement for Your Business Plan
How to Make a Balance Sheet
How to Make a Cash Flow Statement
How to Use Financial Ratios to Understand the Health of Your Business
How to Write an Operations Plan for Retail and Sales Businesses
How to Make Realistic Financial Forecasts
How to Write an Operations Plan for Manufacturers
What Technology Needs to Include In Your Business Plan
How to List Personnel and Materials in Your Business Plan
The Role of Franchising
The Best Ways to Follow Up on a Buisiness Plan
The Best Books, Sites, Trade Associations and Resources to Get Your Business Funded and Running
How to Hire the Right Business Plan Consultant
Business Plan Lingo and Resources All Entrepreneurs Should Know
How to Write a Letter of Introduction
What To Put on the Cover Page of a Business Plan
How to Format Your Business Plan
6 Steps to Getting Your Business Plan In Front of Investors

How to Write the Management Team Section to Your Business Plan Think you've got an all-star lineup? These are the key characteristics to showcase.

By Eric Butow Oct 27, 2023

Key Takeaways

Who to include in your org chart
The key traits to highlight

Opinions expressed by Entrepreneur contributors are their own.

This is part 2 / 9 of Write Your Business Plan: Section 3: Selling Your Product and Team series.

One crucial aspect of any business plan is the management team slide, which outlines the key employees in the organization. Here are some things to keep in mind when putting together your all-star lineup.

Put Yourself First

Don't be modest. If you're the head of the business, you should feature yourself first. After all, you are the entrepreneur behind the business venture, and you will have to put your neck on the line, answer the hard questions, and take the criticism— as well as the praise and acclaim, should there be some.

If you want to impress people with your management team, it's essential to let your readers know who is at the helm and who is selecting the management team. Explain your background, including your vision, your credentials, and why you chose the management team you did.

A business follows the lead of the founder, and as such, you need to briefly explain what is expected of this management team and the role you see it, as a group, playing in the future of this business.

Related: Does Your Team Have the Right Stuff to Attract Venture Capital?

Highlight These Characteristics

Identifying your managers is about presenting what they bring to the table. You can provide this by describing them in terms of the following characteristics:

Education Impressive educational credentials among company managers provide strong reasons for an investor or other plan reader to feel good about your company. Use your judgment in deciding what educational background to include and how to emphasize it. If you're starting a fine restaurant, for example, and your chef graduated at the top of her class from the Culinary Institute of America, play that front and center. If you're starting a courier service and your partner has an anthropology degree from a little-known school, mention it, but don't make a big deal out of it.

Employment Prior work experience in a related field is something many investors look for. If you've spent ten years in management in the retail men's apparel business before opening a tuxedo outlet, an investor can feel confident that you know what you're doing. Likewise, you'll want to explain your team members' key, appropriate positions. Describe any relevant jobs in terms of job title, years of experience, names of employers, and so on. But remember, this isn't a resume. You can feel free to skim over or omit any irrelevant experience. You do not have to provide exact dates of employment.

Related: How to Craft a Business Plan That Will Turn Investors' Heads

Skills A title is one thing, but what you learn while holding it is another. In addition to pointing out that you were a district sales manager for a stereo equipment wholesaler, you should describe your responsibilities and the skills you honed while fulfilling them. Again, list your management team's skills that pertain to this business. A great cook may have incredible accounting skills, but that doesn't matter in the new restaurant's kitchen.

Each time you mention skills that you or a management team member has spent years acquiring at another company, it will be another reason for an investor to believe you can do it at your own company.

Accomplishments Dust off your plaques and trot out your calculator for this one. If you or one of your team members has been awarded patents, achieved record sales gains, or once opened an unbelievable number of new stores in the space of a year, now's the time to talk about it. Don't brag. Just be factual and remember to quantify. If, for example, you have twelve patents, your sales manager had five years of thirty percent annual sales gains, and you oversaw the grand openings of forty-two stores in eleven months, this is the stuff investors and others reading your business plan will want to see. Investors are looking to back impressive winners, and quantifiable results speak strongly to businesspeople of all stripes.

Personal information Investors want to know with whom they're dealing in terms of the personal side. Personal information on each member of your management team may include age, city of residence, notable charitable or community activities, and, last but not least, personal motivation for joining the company. Investors like to see vigorous, committed, and involved people in the companies they back. Mentioning one or two of the relevant personal details of your key managers may help investors feel they know what they're getting into, especially in today's increasingly transparent business climate.

Related: How to Evaluate Your Startup Like a VC

Who to Include in Your Plan

Should you mention everyone in your organization down to shop foremen or stop with the people on your executive committee? The answer is probably neither. Instead, think about your managers in terms of the crucial functions of your business.

In deciding the scope of the management section of your plan, consider the following business functions, and make sure you've explained who will handle those that are important to your enterprise:

Advertising
Distribution
Human Resources
Technical Operations

Related: How To Build a Team of Outside Experts for Your Business

What Does Each Person Do?

There's more to a job than a title. A director in one organization is a high and mighty individual, whereas a director is practically nobody in another company. Many industries have unique job titles, such as managing editor, creative director, and junior accountant level II, with no counterparts in other industries.

In a longer plan, when you give your management team's background and describe their titles, don't stop there. Go on and tell the reader exactly what each management team member will be expected to do in the company. This may be especially important in a startup, where not every position is filled. If the CFO will handle your marketing work until you get further down the road, let readers know this upfront. You certainly can't expect them to figure that out on their own.

In a shorter business plan, or mini-plan , choose those people most vital to your business. If you are opening a martial arts studio, the instructors, or lead instructors, are significant, as is the software developer in a new software company. While you have room to describe these people in more detail in a longer plan, in the shorter miniplans, use one defining sentence for your top five people.

Related: 6 Tips for Making a Winning Business Presentation

Future Hires

If you do have significant holes in your management team, you'll want to describe your plans for filling them. You may say, for example, "Marketing duties are being handled temporarily by the vice president for finance. Once sales have reached the $500,000 per month level, approximately six months after startup, a dedicated vice president of marketing will be retained to fulfill that function."

In some cases, particularly if you're in a really shaky startup and need solid talent, you may have to describe in some detail your plans for luring a hotshot industry expert to your fledgling enterprise. Then, briefly describe your ideal candidate. For a mini-plan, you may write, "We plan to hire a marketing VP who excels in reaching our 20–29 target market."

Related: Vusi Thembekwayo's 7 Rules of Pitching

More in Write Your Business Plan

Section 1: the foundation of a business plan, section 2: putting your business plan to work, section 3: selling your product and team, section 4: marketing your business plan, section 5: organizing operations and finances, section 6: getting your business plan to investors.

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How to Write the Management Team Section of a Business Plan

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Of course, they'll read the market analysis section – and you can expect them to linger over the financial projections section. But if there's one section of a business plan that may carry the greatest weight with lenders, investors and potential strategic partners, it's the management team section. This is where you provide details about the education, qualifications and experience that you and your management team bring to your small business. Written in a crisp and focused manner, the management team section should help those third parties recognize what sets your business apart from others. And it should give meaning to that oft-repeated business maxim: “I don't invest in ideas; I invest in people.”

Gather Key Information

Before you put pen to paper – or your fingers to the keyboard – gather the information you need on your management team. At the least, you should have their resumes handy – and include them in the appendix of your business plan.

Also, be prepared to speak with members of your management team to fill in any blanks. Structure the management team section to include:

An organizational chart of your small business, including departments, department managers and employees. Biographical information about you, the owner, and any other owners. Specify your ownership percentage and exactly what your day-to-day responsibilities will be. Biographical information on your management team.* The credentials of any advisers who will be at your side providing expert advice, such as an accountant and a lawyer.

One Paragraph Poses One Big Challenge

Like many small-business owners, you may not think of yourself as a writer. So you may be relieved to know that you should devote only about one paragraph to each person you profile in the management section. But in the end, that should be one substantive paragraph, and it will require some finesse to pull it off.

As many writers will attest, being verbose isn't difficult; being concise yet enlightening can be a challenge. Put another way, you want to include only the most relevant and insightful information about your management team – and you want to be quick about it. So be prepared to edit your words ruthlessly as you structure the paragraph to include the team members' info:

Name and title. Education and professional credentials and some personal information. Primary responsibilities at your small business.

Expand the Second Component

Providing names and titles should be the easy part. The most robust part of your paragraph should proceed with ease if you include:

Education credentials, including college and major, and any relevant certifications. Employment highlights. Pick the last or last two titles and company affiliations unless there is something truly stellar in someone's past worth mentioning. Skills or specialties, meaning those things that someone truly excels at or is known for.* Notable accomplishments, which can serve as a subliminal message that they can be repeated at your small business.
Personal insights, which may include anything from community involvement to someone's rationale for joining your company. You have a lot of latitude here, so try to think in terms of what conveys the mark of a can-do, energetic person. If you're impressed by it, chances are someone reading your business plan will be too.

Spell Out the Third Component

Because you opened the paragraph with the person's name and title, you want to close it with a summation of the contributions you expect the person to make. Discretion here is important; you want to demonstrate to people reading your business plan that you've hired accomplished people, but you don't want to stray into the realm of hyperbole, either.

This said, after spelling out so many numbers and analytics in your business plan, the management section is your chance to expose the human side of your business. A good balance can be found in this paragraph:

Thomas Cole, Director of Marketing A mass communication graduate of Illinois State University, Tom brings to us nearly 20 years of marketing experience and a proven ability to integrate best practices into emerging businesses. Websites, smartphones and digital marketing all came of age as the proud redbird worked as a district marketing manager for ABC Media and then marketing manager for XYZ Newspaper Group, both in Chicago. Tom helped these companies navigate sea changes in the newspaper industry and return to profitability by developing imaginative and synergistic marketing campaigns. We expect him to replicate these efforts at Write-On Marketing, at least when he's not busy critiquing the latest creations at his family's award-winning Illinois winery.

Assuming that you believe people are your greatest asset, write your management section like the proud small-business owner you are – your instincts should serve you well.

NFIB: Parts of a Business Plan: 7 Essential Sections
Inc.: How to Write a Great Business Plan: Management Team
Entrepreneur: First Steps: Writing the Management Section of Your Business Plan
BP Plans: Coffee Export Business Plan

Mary Wroblewski earned a master's degree with high honors in communications and has worked as a reporter and editor in two Chicago newsrooms. Then she launched her own small business, which specialized in assisting small business owners with “all things marketing” – from drafting a marketing plan and writing website copy to crafting media plans and developing email campaigns. Mary writes extensively about small business issues and especially “all things marketing.”

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How To Write the Management Section of a Business Plan

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

Ownership Structure

Internal management team, external management resources, human resources, frequently asked questions (faqs).

When developing a business plan , the 'management section' describes your management team, staff, resources, and how your business ownership is structured. This section should not only describe who's on your management team but how each person's skill set will contribute to your bottom line. In this article, we will detail exactly how to compose and best highlight your management team.

Key Takeaways

The management section of a business plan helps show how your management team and company are structured.
The first section shows the ownership structure, which might be a sole proprietorship, partnership, or corporation.
The internal management section shows the department heads, including sales, marketing, administration, and production.
The external management resources help back up your internal management and include an advisory board and consultants.
The human resources section contains staffing requirements—part-time or full-time—skills needed for employees and the costs.

This section outlines the legal structure of your business. It may only be a single sentence if your business is a sole proprietorship. If your business is a partnership or a corporation, it can be longer. You want to be sure you explain who holds what percentage of ownership in the company.

The internal management section should describe the business management categories relevant to your business, identify who will have responsibility for each category, and then include a short profile highlighting each person's skills.

The primary business categories of sales, marketing , administration, and production usually work for many small businesses. If your business has employees, you will also need a human resources section. You may also find that your company needs additional management categories to fit your unique circumstances.

It's not necessary to have a different person in charge of each category; some key management people often fill more than one role. Identify the key managers in your business and explain what functions and experience each team member will serve. You may wish to present this as an organizational chart in your business plan, although the list format is also appropriate.

Along with this section, you should include the complete resumés of each management team member (including your own). Follow this with an explanation of how each member will be compensated and their benefits package, and describe any profit-sharing plans that may apply.

If there are any contracts that relate directly to your management team members, such as work contracts or non-competition agreements, you should include them in an Appendix to your business plan.

While external management resources are often overlooked when writing a business plan , using these resources effectively can make the difference between the success or failure of your managers. Think of these external resources as your internal management team's backup. They give your business credibility and an additional pool of expertise.

Advisory Board

An Advisory Board can increase consumer and investor confidence, attract talented employees by showing a commitment to company growth and bring a diversity of contributions. If you choose to have an Advisory Board , list all the board members in this section, and include a bio and all relevant specializations. If you choose your board members carefully, the group can compensate for the niche forms of expertise that your internal managers lack.

When selecting your board members, look for people who are genuinely interested in seeing your business do well and have the patience and time to provide sound advice.

Recently retired executives or managers, other successful entrepreneurs, and/or vendors would be good choices for an Advisory Board.

Professional Services

Professional Services should also be highlighted in the external management resources section. Describe all the external professional advisors that your business will use, such as accountants, bankers, lawyers, IT consultants, business consultants, and/or business coaches. These professionals provide a web of advice and support outside your internal management team that can be invaluable in making management decisions and your new business a success .

The last point you should address in the management section of your business plan is your human resources needs. The trick to writing about human resources is to be specific. To simply write, "We'll need more people once we get up and running," isn't sufficient. Follow this list:

Detail how many employees your business will need at each stage and what they will cost.
Describe exactly how your business's human resources needs can be met. Will it be best to have employees, or should you operate with contract workers or freelancers ? Do you need full-time or part-time staff or a mix of both?
Outline your staffing requirements, including a description of the specific skills that the people working for you will need to possess.
Calculate your labor costs. Decide the number of employees you will need and how many customers each employee can serve. For example, if it takes one employee to serve 150 customers, and you forecast 1,500 customers in your first year, your business will need 10 employees.
Determine how much each employee will receive and total the salary cost for all your employees.
Add to this the cost of Workers' Compensation Insurance (mandatory for most businesses) and the cost of any other employee benefits, such as company-sponsored medical and dental plans.

After you've listed the points above, describe how you will find the staff your business needs and how you will train them. Your description of staff recruitment should explain whether or not sufficient local labor is available and how you will recruit staff.

When you're writing about staff training, you'll want to include as many specifics as possible. What specific training will your staff undergo? What ongoing training opportunities will you provide your employees?

Even if the plan for your business is to start as a sole proprietorship, you should include a section on potential human resources demands as a way to demonstrate that you've thought about the staffing your business may require as it grows.

Business plans are about the future and the hypothetical challenges and successes that await. It's worth visualizing and documenting the details of your business so that the materials and network around your dream can begin to take shape.

What is the management section of a business plan?

The 'management section' describes your management team, staff, resources, and how your business ownership is structured.

What are the 5 sections of a business plan?

A business plan provides a road map showing your company's goals and how you'll achieve them. The five sections of a business plan are as follows:

The market analysis outlines the demand for your product or service.
The competitive analysis section shows your competition's strengths and weaknesses and your strategy for gaining market share.
The management plan outlines your ownership structure, the management team, and staffing requirements.
The operating plan details your business location and the facilities, equipment, and supplies needed to operate.
The financial plan shows the map to financial success and the sources of funding, such as bank loans or investors.

SCORE. " Why Small Businesses Should Consider Workers’ Comp Insurance ."

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How to Write a Great Business Plan: Management Team

The ninth in a comprehensive series to help you craft the perfect business plan for your startup.

How to Write a Great Business Plan: Management Team

This article is part of a series on how to write a great business plan .

Many investors and lenders feel the quality and experience of the management team is one of the most important factors used to evaluate the potential of a new business.

But putting work into the Management Team section will not only benefit people who may read your plan. It will also help you evaluate the skills, experiences, and resources your management team will need. Addressing your company's needs during implementation will make a major impact on your chances for success.

Key questions to answer:

Who are the key leaders? (If actual people have not been identified, describe the type of people needed.) What are their experiences, educational backgrounds, and skills?
Do your key leaders have industry experience? If not, what experience do they bring to the business that is applicable?
What duties will each position perform? (Creating an organization chart might be helpful.) What authority is granted to and what responsibilities are expected in each position?
What salary levels will be required to attract qualified candidates for each position? What is the salary structure for the company, by position?

The Management Team section for our cycling rental business could start something like this:

Jim Rouleur, Owner and Manager

Joe has over twenty years experience in the cycling business. He served for ten years as a product manager for ACME Bikes. After that he was the Operations Manager of Single Track Cycles, a full-service bike shop located in Bend, Oregon. He has an undergraduate degree in marketing from Duke University and an MBA from Virginia Commonwealth University. (A complete resume for Mr. Rouleur can be found in the Appendix.(

Mary Gearset, Assistant Manager

Mary was the 2009 U.S. Mountain Biking National Champion. She worked in product development for High Tec frames, creating custom frames and frame modifications for professional cyclists. She also has extensive customer service and sales experience, having worked for four years as the online manager of Pro Parts Unlimited, an online retailer of high-end cycling equipment and accessories.

In some instances you may also wish to describe your staffing plans.

For example, if you manufacture a product or provide a service and will hire a key skilled employee, describe that employee's credentials. Otherwise, include staffing plans in the Operations section.

One key note: Don't be tempted to add a "name" to your management team in hopes of attracting investors. "Celebrity" management team members may attract the attention of your readers, but experienced lenders and investors will immediately ask what role that person will actually play in the running of the business--and in most cases those individuals won't play any meaningful role.

If you don't have a lot of experience--but are willing to work hard to overcome that lack of experience--don't be tempted to include other people in your plan that will not actually work in the business.

If you can't survive without help, that's okay. In fact that's expected; no one does anything worthwhile on their own. Just make plans to get help from the right people.

Finally, when you create your Management section, focus on credentials but pay extra focus to what each person actually will do . Experience and reputation are great, but action is everything.

That way your Management section will answer the "Who is in charge?" question.

Next time we'll look at the next main component in a business plan: the ever-popular Financial Analysis .

Garretts Bike Shop

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How to Write Management Team Section in Business Plan

A business plan must include details about your key people and managers.

The management team section in business plan includes a detailed introduction to the owners, managers, and key people.

How do you write the management team section in business plan?

5 points to include in management team business plan.

The management team section explains the educational and professional backgrounds of your key people. You can convince potential lenders or investors of the professional capabilities of your organization. A competent team is a strong argument in your favor.

The management team section in business plan also includes the vacant positions, the people you are looking for those positions, and how and when you plan to hire them.

Want to write a business plan?

Hire our professional business plan writers to prepare your business plan!

Writing a management team section in a business plan is very easy; all you will need to do is to introduce your team to the world.

If you have not hired yet, explain who you want to hire, describe their educational and professional background, and also mention their job description.

Collect Manager Resumes

When writing the m anagement team section in business plan, c ollect the resumes of managers and key people. A resume typically packs every important professional detail about a person. You will need to use this information in the management team business plan section.

Describe an ideal resume for a post if you are yet to hire a manager.

Group Employees in Categories

Insert your organizational chart here. Show your chain of commands and describe who is who and what is what.

Every organization is divided into different departments like management, HR, advertising/marketing, procurement, etc. You will need people with different skills in every position.

Your organization chart will not only help introduce your team and chain of commands, but it will also help you prepare for hiring the right people for the job.

Introduce Key people

Key people include owners, top management, key managers, etc. These are the primary decision-makers in an organization. Potential lenders or investors would like to know the people in your business, their profile, and their business philosophy.

Include the resumes of your key people, their education or professional background, and their uniqueness for the business.

Managers Employment History

As the name suggests, you will tell the employment and professional history of managers. Though this is similar to the key people section, this part will include managers only.

A relevant employment history speaks in favor of your sound choice.

Explain Team Gaps

Team gaps are the positions yet to be filled.

If you are starting a new business, you may only have key people. Your organization chart is helpful here too.

Spot and name the vacant positions. Explain what the resume of the best candidates will look like and when you plan to hire.

Want to see a sample of the management team section in a business plan? Check our professional business plan samples and see how it is done.

Access our free business plan examples now!

Who are key managers? If you have appointed them already, mention them; if not, explain who you want to hire.
Discuss the educational backgrounds, professional experiences, and skills of managers.
Explain the relevant industry experience of your managers. If you have not hired yet, describe who you will hire and give your desired profile.
Explain who will be responsible for what. Including an organizational chart would be a good idea.
What is the salary you will offer to attract the right people for the jobs?

WiseBusinessPlans is the company that writes business plans

The management team section should include details about the key members of your team, their roles and responsibilities, their qualifications and experience, and their contributions to the success of the business. It provides an overview of the skills and expertise within your team.

Showcase the qualifications of your management team by highlighting their relevant education, professional certifications, industry experience, and track record of success. Include specific achievements or notable projects they have been involved in.

If your management team is not fully formed, include the key positions you plan to fill and describe the ideal qualifications and experience for those roles. Highlight any progress made in identifying or recruiting potential team members.

Yes, you can include advisors or consultants who play a significant role in guiding your business. Briefly mention their expertise and how they contribute to the management and strategic decision-making process.

The management team section demonstrates the strength of your business by showcasing the collective expertise, experience, and skills of your team. It instills confidence in potential investors or lenders that your business is led by capable individuals who can effectively execute the business plan.

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How to Write the Management Team Section of a Business Plan

Every business owner knows that starting a business requires a lot of planning. Coming up with a well-researched business plan is as important as coming up with the idea for the enterprise itself. In fact, this document covers everything one needs to know about the venture and more.

It is important to remember that this document has internal and external purposes, according to Deloitte & Touche LLP (2003). For internal purposes, a business plan serves as “an important management tool” such that “it enables management to plan company growth and to anticipate changes in a structured way” (p. 2). Meanwhile, the external use of this document can help the company secure funding, form alliances, establish mergers and acquisitions, and build relationships (pp. 1-2).

Given the vital role this document plays, entrepreneurs need to focus on the Management Team Section of a business plan. This article tackles the importance of this segment and how to proceed with writing it.

What is the Management Team Section of a Business Plan?

As mentioned, a business plan covers all kinds of information about the business. It is composed of an executive summary, company description, market analysis, and service or product line, just to name a few. All of these provide an insight into what the business will offer and how it will be able to reach its target market.

However, the Management Team section provides a view on how the organization will be managed. It aims to show the reader what the management team looks like, who will be running the business and its operations, and how these individuals can contribute to executing strategies and achieving goals.

According to Deloitte and Touche, “Your business plan should describe how the company is organized and what each individual’s duties and responsibilities are… It is also helpful to explain how the individual talents of the management team contribute to realizing the company’s strategy.”

These elements seek to show how competent and efficient the management team is or will be. Nevertheless, it is important to mention that it should also recognize shortcomings and gaps.

The Need for the Management Team Section

The importance of this section banks on the dual purpose of the business plan. Those who are planning to use it for external matters should keep in mind that potential investors and allies takes the strength of the management team into account as this can influence the success of the venture.

Similarly, the organization itself can use this to improve its operations. By identifying strengths and weaknesses, the company will know what aspects of the management team are performing optimally and what need improvement.

Tips for Writing the Management Team Section

Because the Management Team Section is an integral part of a business plan, it is essential to learn how to write it effectively. Here are some tips that can help entrepreneurs put together an excellent Management Team Section.

Determine the Business Structure

The first thing an entrepreneur needs to know about assembling a management team is that the need for certain roles depends on the business structure. There are different structures to choose from and all of them have an effect on the assets, liabilities, responsibilities, and operations.

According to the United States Small Business Administration (n.d.), some of the most common are sole proprietorship, partnership, limited liability company (LLC), and corporation. Startups are commonly sole proprietorships or partnerships.

As a sole proprietor of a business, the entrepreneur can have complete control, responsibility, and liability. Meanwhile, a partnership, which is a business owned by two or more people, can come in two types, namely limited partnerships (LPs) and limited liability partnerships (LLPs). In LPs, only one owner is given unlimited liability, while others have limited. LLPs provide limited liability to all owners.

Identify Essential Management Positions

Startups are typically small businesses. Sole proprietorships are owned by one founder and are bound to have a small management team. It may only be composed of the owner or founder (who is also the boss), some managers, and a human resource manager.

In partnerships, the team would be bigger as most or all partners are bound to have management roles. Co-owners can be managing partners, and junior or senior partners, for example. Depending on the scale of the business, the organization will need team leads, a human resource manager, and others. Partnerships may also choose to establish a management committee.

Make sure to take note of these positions in relation to the organizational structure when writing the business plan.

Look for People Who Fit the Job

This section of the plan is not supposed to be written in general terms. It needs to include particulars including names of people, their positions, and their qualifications. If used for external purposes, potential funders and allies will see the strengths and weaknesses of the team based on the people in it.

It is important to find human resources who are qualified and competent to perform the job of managing a team, hiring new people, and such. For partnerships, it is important to assign roles to partners who have experience and skills to fill them.

Document Assignments

Finally, it is essential to document these assignments in detail. This does not only mean including names, positions, and synopses. A more informational description of the person and their position is required.

In fact, Deloitte and Touche advises entrepreneurs to include resumes of the management team in the appendix, complete with their employment info, schools, and educational degrees. Compensation for the role is also important, especially for business plans which will be presented to investors.

The compensation includes salary, profit sharing, stock ownership opportunities, bonuses, and benefits. Investors need to know these details to see if the current plan is in line with their own financial capacity and goals.

Final Thoughts

The Management Team section is vital to the business plan no matter what the purpose is. With these writing tips, entrepreneurs and their partners can put together a section that is solid and fully informational in order to help them achieve their strategic goals.

References:

Deloitte & Touche. (2003). Writing an effective business plan. Retrieved from https://www.academia.edu/7094242/Fourth_Edition_Writing_an_Effective_Business_Plan .
Small Business Administration. (n.d.) Choose a business structure. Retrieved from https://www.sba.gov/business-guide/launch-your-business/choose-business-structure

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Business Plan Section 3: Organization and Management

This section explains how your business runs and who’s on your team. Learn how to present the information in this section of your business plan.

This section of your business plan, Organization and Management, is where you’ll explain exactly how you’re set up to make your ideas happen, plus you’ll introduce the players on your team.

As always, remember your audience. If this is a plan for your internal use, you can be a little more general than if you’ll be presenting it to a potential lender or investor. No matter what its purpose, you’ll want to break the organization and management section into two segments: one describing the way you’ve set up the company to run (its organizational structure), and the other introducing the people involved (its management).

Business Organization

Having a solid plan for how your business will run is a key component of its smooth and successful operation. Of course, you need to surround yourself with good people, but you have to set things up to enable them to work well with each other and on their own.

It’s important to define the positions in the company, which job is responsible for what, and to whom everyone will report. Over time, the structure may grow and change and you can certainly keep tweaking it as you go along, but you need to have an initial plan.

If you’re applying for funding to start a business or expand one, you may not even have employees to fit all the roles in the organization. However, you can still list them in your plan for how the company will ideally operate once you have the ability to do so.

Obviously, for small businesses, the organization will be far more streamlined and less complicated than it is for larger ones, but your business plan still needs to demonstrate an understanding of how you’ll handle the workflow. At the very least, you’ll need to touch on sales and marketing, administration, and the production and distribution of your product or the execution of your service.

For larger companies, an organizational plan with well-thought-out procedures is even more important. This is the best way to make sure you’re not wasting time duplicating efforts or dealing with internal confusion about responsibilities. A smooth-running operation runs far more efficiently and cost-effectively than one flying by the seat of its pants, and this section of your business plan will be another indication that you know what you’re doing. A large company is also likely to need additional operational categories such as human resources and possibly research and development.

One way to explain your organizational structure in the business plan is graphically. A simple diagram or flowchart can easily demonstrate levels of management and the positions within them, clearly illustrating who reports to whom, and how different divisions of the company (such as sales and marketing) relate to each other.

Here is where you can also talk about the other levels of employees in your company. Your lower-level staff will carry out the day-to-day work, so it’s important to recognize the types of people you’ll need, how many, what their qualifications should be, where you’ll find them, and what they’ll cost.

If the business will use outside consultants, freelancers, or independent contractors, mention it here as well. And talk about positions you’d want to add in the future if you’re successful enough to expand.

Business Management

Now that we understand the structure of your business, we need to meet the people who’ll be running it. Who does what, and why are they onboard? This section is important even for a single practitioner or sole proprietorship, as it will introduce you and your qualifications to the readers of your plan.

Start at the top with the legal structure and ownership of the business. If you are incorporated, say so, and detail whether you are a C or S corporation. If you haven’t yet incorporated, make sure to discuss this with your attorney and tax advisor to figure out which way to go. Whether you’re in a partnership or are a sole owner, this is where to mention it.

List the names of the owners of the business, what percent of the company each of them owns, the form of ownership (common or preferred stock, general or limited partner), and what kind of involvement they’ll have with day-to-day operations; for example, if they’re an active or silent partner.

Here’s where you’ll list the names and profiles of your management team, along with what their responsibilities are. Especially if you’re looking for funding, make sure to highlight the proven track record of these key employees. Lenders and investors will be keenly interested in their previous successes, particularly in how they relate to this current venture.

Include each person’s name and position, along with a short description of what the individual’s main duties will be. Detail his or her education, and any unique skills or experience, especially if they’re relevant to the job at hand. Mention previous employment and any industry awards or recognition related to it, along with involvement with charities or other non-profit organizations.

Think of this section as a resume-in-a-nutshell, recapping the highlights and achievements of the people you’ve chosen to surround yourself with. Actual detailed resumes for you and your management team should go in the plan’s appendix, and you can cross-reference them here. You want your readers to feel like your top staff complements you and supplements your own particular skill set. You also want readers to understand why these people are so qualified to help make your business a success.

This section will spell out the compensation for management team members, such as salary, benefits, and any profit-sharing you might be offering. If any of the team will be under contract or bound by non-compete agreements, you would mention that here, as well.

If your company will have a Board of Directors, its members also need to be listed in the business plan. Introduce each person by name and the position they’ll hold on the board. Talk about how each might be involved with the business (in addition to board meetings.

Similar to what you did for your management team, give each member’s background information, including education, experience, special skills, etc., along with any contributions they may already have had to the success of the business. Include the full resumes for your board members in the appendix.

Alternately, if you don’t have a Board of Directors, include information about an Advisory Board you’ve put together, or a panel of experts you’ve convened to help you along the way. Having either of these, by the way, is something your company might want to consider whether or not you’re putting together the organization and management section or your business plan.

NEXT ARTICLE > Business Plan Section 4: Products and Services

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Business Plan Example and Template

Learn how to create a business plan

What is a Business Plan?

A business plan is a document that contains the operational and financial plan of a business, and details how its objectives will be achieved. It serves as a road map for the business and can be used when pitching investors or financial institutions for debt or equity financing .

Business Plan - Document with the words Business Plan on the title

A business plan should follow a standard format and contain all the important business plan elements. Typically, it should present whatever information an investor or financial institution expects to see before providing financing to a business.

Contents of a Business Plan

A business plan should be structured in a way that it contains all the important information that investors are looking for. Here are the main sections of a business plan:

1. Title Page

The title page captures the legal information of the business, which includes the registered business name, physical address, phone number, email address, date, and the company logo.

2. Executive Summary

The executive summary is the most important section because it is the first section that investors and bankers see when they open the business plan. It provides a summary of the entire business plan. It should be written last to ensure that you don’t leave any details out. It must be short and to the point, and it should capture the reader’s attention. The executive summary should not exceed two pages.

3. Industry Overview

The industry overview section provides information about the specific industry that the business operates in. Some of the information provided in this section includes major competitors, industry trends, and estimated revenues. It also shows the company’s position in the industry and how it will compete in the market against other major players.

4. Market Analysis and Competition

The market analysis section details the target market for the company’s product offerings. This section confirms that the company understands the market and that it has already analyzed the existing market to determine that there is adequate demand to support its proposed business model.

Market analysis includes information about the target market’s demographics , geographical location, consumer behavior, and market needs. The company can present numbers and sources to give an overview of the target market size.

A business can choose to consolidate the market analysis and competition analysis into one section or present them as two separate sections.

5. Sales and Marketing Plan

The sales and marketing plan details how the company plans to sell its products to the target market. It attempts to present the business’s unique selling proposition and the channels it will use to sell its goods and services. It details the company’s advertising and promotion activities, pricing strategy, sales and distribution methods, and after-sales support.

6. Management Plan

The management plan provides an outline of the company’s legal structure, its management team, and internal and external human resource requirements. It should list the number of employees that will be needed and the remuneration to be paid to each of the employees.

Any external professionals, such as lawyers, valuers, architects, and consultants, that the company will need should also be included. If the company intends to use the business plan to source funding from investors, it should list the members of the executive team, as well as the members of the advisory board.

7. Operating Plan

The operating plan provides an overview of the company’s physical requirements, such as office space, machinery, labor, supplies, and inventory . For a business that requires custom warehouses and specialized equipment, the operating plan will be more detailed, as compared to, say, a home-based consulting business. If the business plan is for a manufacturing company, it will include information on raw material requirements and the supply chain.

8. Financial Plan

The financial plan is an important section that will often determine whether the business will obtain required financing from financial institutions, investors, or venture capitalists. It should demonstrate that the proposed business is viable and will return enough revenues to be able to meet its financial obligations. Some of the information contained in the financial plan includes a projected income statement , balance sheet, and cash flow.

9. Appendices and Exhibits

The appendices and exhibits part is the last section of a business plan. It includes any additional information that banks and investors may be interested in or that adds credibility to the business. Some of the information that may be included in the appendices section includes office/building plans, detailed market research , products/services offering information, marketing brochures, and credit histories of the promoters.

Business Plan Template

Here is a basic template that any business can use when developing its business plan:

Section 1: Executive Summary

Present the company’s mission.
Describe the company’s product and/or service offerings.
Give a summary of the target market and its demographics.
Summarize the industry competition and how the company will capture a share of the available market.
Give a summary of the operational plan, such as inventory, office and labor, and equipment requirements.

Section 2: Industry Overview

Describe the company’s position in the industry.
Describe the existing competition and the major players in the industry.
Provide information about the industry that the business will operate in, estimated revenues, industry trends, government influences, as well as the demographics of the target market.

Section 3: Market Analysis and Competition

Define your target market, their needs, and their geographical location.
Describe the size of the market, the units of the company’s products that potential customers may buy, and the market changes that may occur due to overall economic changes.
Give an overview of the estimated sales volume vis-à-vis what competitors sell.
Give a plan on how the company plans to combat the existing competition to gain and retain market share.

Section 4: Sales and Marketing Plan

Describe the products that the company will offer for sale and its unique selling proposition.
List the different advertising platforms that the business will use to get its message to customers.
Describe how the business plans to price its products in a way that allows it to make a profit.
Give details on how the company’s products will be distributed to the target market and the shipping method.

Section 5: Management Plan

Describe the organizational structure of the company.
List the owners of the company and their ownership percentages.
List the key executives, their roles, and remuneration.
List any internal and external professionals that the company plans to hire, and how they will be compensated.
Include a list of the members of the advisory board, if available.

Section 6: Operating Plan

Describe the location of the business, including office and warehouse requirements.
Describe the labor requirement of the company. Outline the number of staff that the company needs, their roles, skills training needed, and employee tenures (full-time or part-time).
Describe the manufacturing process, and the time it will take to produce one unit of a product.
Describe the equipment and machinery requirements, and if the company will lease or purchase equipment and machinery, and the related costs that the company estimates it will incur.
Provide a list of raw material requirements, how they will be sourced, and the main suppliers that will supply the required inputs.

Section 7: Financial Plan

Describe the financial projections of the company, by including the projected income statement, projected cash flow statement, and the balance sheet projection.

Section 8: Appendices and Exhibits

Quotes of building and machinery leases
Proposed office and warehouse plan
Market research and a summary of the target market
Credit information of the owners
List of product and/or services

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Small Business Trends

How to create a business plan: examples & free template.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Table of Contents

How to Write a Business Plan

Executive summary.

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Overview and Business Objectives

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Company Description

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Define Your Target Market

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

Competitive analysis.

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

Organization and Management Team

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Marketing and sales strategy.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Logistics and Operations Plan

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Cash Flow Statement

Section	Description	Example
Executive Summary	Brief overview of the business plan	Overview of EcoTech and its mission
Overview & Objectives	Outline of company's goals and strategies	Market leadership in sustainable technology
Company Description	Detailed explanation of the company and its unique selling proposition	EcoTech's history, mission, and vision
Target Market	Description of ideal customers and their needs	Environmentally conscious consumers and businesses
Market Analysis	Examination of industry trends, customer needs, and competitors	Trends in eco-friendly technology market
SWOT Analysis	Evaluation of Strengths, Weaknesses, Opportunities, and Threats	Strengths and weaknesses of EcoTech
Competitive Analysis	In-depth analysis of competitors and their strategies	Analysis of GreenTech and EarthSolutions
Organization & Management	Overview of the company's structure and management team	Key roles and team members at EcoTech
Products & Services	Description of offerings and their unique features	Energy-efficient lighting solutions, solar chargers
Marketing & Sales	Outline of marketing channels and sales strategies	Digital advertising, content marketing, influencer partnerships
Logistics & Operations	Details about daily operations, supply chain, inventory, and quality control	Partnerships with manufacturers, quality control
Financial Projections	Forecast of revenue, expenses, and profit for the next 3-5 years	Projected growth in revenue and net profit
Income Statement	Summary of company's revenues and expenses over a specified period	Revenue, Cost of Goods Sold, Gross Profit, Net Income
Cash Flow Statement	Overview of cash inflows and outflows within the business	Net Cash from Operating Activities, Investing Activities, Financing Activities

Tips on Writing a Business Plan

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

What is a Business Plan?

Why you should write a business plan, what are the different types of business plans.

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

Type of Business Plan	Purpose	Key Components	Target Audience
Startup Business Plan	Outlines the company's mission, objectives, target market, competition, marketing strategies, and financial projections.	Mission Statement, Company Description, Market Analysis, Competitive Analysis, Organizational Structure, Marketing and Sales Strategy, Financial Projections.	Entrepreneurs, Investors
Internal Business Plan	Serves as a management tool for guiding the company's growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision.	Strategies, Milestones, Deadlines, Resource Allocation.	Internal Team Members
Strategic Business Plan	Outlines long-term goals and the steps to achieve them.	SWOT Analysis, Market Research, Competitive Analysis, Long-Term Goals.	Executives, Managers, Investors
Feasibility Business Plan	Assesses the viability of a business idea.	Market Demand, Competition, Financial Projections, Potential Obstacles.	Entrepreneurs, Investors
Growth Business Plan	Focuses on strategies for scaling up an existing business.	Market Analysis, New Product/Service Offerings, Financial Projections.	Business Owners, Investors
Operational Business Plan	Outlines the company's day-to-day operations.	Processes, Procedures, Organizational Structure.	Managers, Employees
Lean Business Plan	A simplified, agile version of a traditional plan, focusing on key elements.	Value Proposition, Customer Segments, Revenue Streams, Cost Structure.	Entrepreneurs, Startups
One-Page Business Plan	A concise summary of your company's key objectives, strategies, and milestones.	Key Objectives, Strategies, Milestones.	Entrepreneurs, Investors, Partners
Nonprofit Business Plan	Outlines the mission, goals, target audience, fundraising strategies, and budget allocation for nonprofit organizations.	Mission Statement, Goals, Target Audience, Fundraising Strategies, Budget.	Nonprofit Leaders, Board Members, Donors
Franchise Business Plan	Focuses on the franchisor's requirements, as well as the franchisee's goals, strategies, and financial projections.	Franchise Agreement, Brand Standards, Marketing Efforts, Operational Procedures, Financial Projections.	Franchisors, Franchisees, Investors

Using Business Plan Software

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

Software	Key Features	User Interface	Additional Features
LivePlan	Over 500 sample plans, financial forecasting tools, progress tracking against KPIs	User-friendly, visually appealing	Allows creation of professional-looking business plans
Upmetrics	Customizable templates, financial forecasting tools, collaboration capabilities	Simple and intuitive	Provides a resource library for business planning
Bizplan	Drag-and-drop builder, modular sections, financial forecasting tools, progress tracking	Simple, visually engaging	Designed to simplify the business planning process
Enloop	Industry-specific templates, financial forecasting tools, automatic business plan generation, unique performance score	Robust, user-friendly	Offers a free version, making it accessible for businesses on a budget
Tarkenton GoSmallBiz	Guided business plan builder, customizable templates, financial projection tools	User-friendly	Offers CRM tools, legal document templates, and additional resources for small businesses

Business Plan FAQs

What is a good business plan, what are the 3 main purposes of a business plan, can i write a business plan by myself.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

How long should a business plan be, what is a business plan outline, what are the 5 most common business plan mistakes, what questions should be asked in a business plan.

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

How is business planning for a nonprofit different.

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How to Write a Management Plan

Last Updated: September 18, 2023 Fact Checked

This article was co-authored by Madison Boehm . Madison Boehm is a Business Advisor and the Co-Founder of Jaxson Maximus, a men’s salon and custom clothiers based in southern Florida. She specializes in business development, operations, and finance. Additionally, she has experience in the salon, clothing, and retail sectors. Madison holds a BBA in Entrepreneurship and Marketing from The University of Houston. There are 9 references cited in this article, which can be found at the bottom of the page. This article has been fact-checked, ensuring the accuracy of any cited facts and confirming the authority of its sources. This article has been viewed 240,936 times.

A management plan describes how an organization or business is run. Writing a management plan allows you to formalize your management structure and operations. It also ensures that everyone is on the same page and that your goals will be accomplished. You can easily write your own management plan with a few simple steps.

Management Plan Outline and Example

Starting Your Management Plan

Step 1 Determine the need for a management plan.

Defining roles also creates accountability by making it clear who's fault it was that something did or did not happen. [3] X Trustworthy Source Kansas University Center for Community Health and Development Community-based research center focused on supporting public health development and education Go to source

A section detailing management members and their responsibilities and authorities.
A chart of section detailing interactions between and responsibilities of each level of the organization.
A section explaining different aspects of your organization being managed and the policies and procedures of that management.
A schedule for updating, enhancing, and growing management and the management plan. [6] X Research source

Step 3 Describe your management structure.

Describing Ownership and Management

Step 1 Note what type of ownership policies are in place.

Include a copy of board policies, including election policies, term length, responsibility, authority, and conflict resolution. This information should already be stated in your operating agreement or other founding documents.

Step 3 Introduce the key management members.

List past positions and duties of each member that apply to their current management obligations. Explain how these obligations highlight applicable skills and strengthen the management positions.
Highlight all relevant educational backgrounds for each of the managers. Explain how their training will benefit the company. Only include the education that is relevant to the positions that they currently hold.
If you are the only employee in your business, be sure to include your own experience and strengths.

Accountants.
Insurance brokers.
Consultants.

Step 7 Summarize your management team's abilities.

For example, “Our team, with its diverse array of skills, have a combined forty years of experience in this field. With our coordinated democratic structure, they can work together effectively to produce results. With this team, we are confident that our business will become profitable in two years.”

Step 8 Describe relationships between management, ownership, and employees.

Writing Out Policies and Procedures

Step 1 Consider your need for written policies.

For example, a policy might be using and selling only green materials and products. The procedures to support that policy might be shopping from approved green vendors or checking the environmental impact of each material or product used.

Step 4 Check that the policies fit in with your culture and philosophy.

Revising Your Plan

When they approve, have all owners sign the plan before you submit it to your investors, bank, or fundraising bodies.

Step 5 Make a commitment to amend your plan as necessary.

Make sure there is a way for all management and employees to submit their feedback regarding the plan.
Then, create a method by which changes to the plan can be approved and instituted. [20] X Trustworthy Source Kansas University Center for Community Health and Development Community-based research center focused on supporting public health development and education Go to source

Expert Q&A

Many investors will read the management section of your business plan before any other section, including marketing and finances, so you want to make sure that you have the best proposal possible. Thanks Helpful 0 Not Helpful 0

Do not neglect your management plan in favor of your financial plans. Both are equally important to a business plan. Thanks Helpful 0 Not Helpful 1

↑ Madison Boehm. Business Advisor, Jaxson Maximus. Expert Interview. 24 August 2021.
↑ http://ctb.ku.edu/en/table-of-contents/leadership/effective-manager/management-plan/main
↑ https://www.brown.edu/research/conducting-research-brown/preparing-proposal/proposal-development-services/writing-management-plan
↑ https://www.thebalance.com/how-to-write-the-management-summary-2951561
↑ https://open.lib.umn.edu/humanresourcemanagement/chapter/4-1-the-recruitment-process/
↑ https://www.entrepreneur.com/article/241072
↑ https://writingcenter.unc.edu/tips-and-tools/editing-and-proofreading/
↑ http://www.businessnewsdaily.com/4533-business-plan-outline.html

About This Article

The best way to write a management report is to describe the company’s management structure in 10 to 20 pages. Name the board members and explain the company’s ownership policies. Introduce all management members and present the strengths of each team member. Then, write out workplace policies and procedures. Send the management report to the company’s bank, investors, or fundraising bodies. For more tips from our Financial Reviewer, like how to outline, format, and revise your plan, read on! Did this summary help you? Yes No

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Sample Business Plan

Following is a business plan written by The Business Plan Store. It is posted here with the express permission of the client (Executive names are fictitious)

Our philosophy is laser-like focus on the customer’s needs. We have a Chief Financial Officer and four directors reporting to the President and CEO. Part-time positions staffing the customer support desk will be filled as needed and reporting to the Director of Operations. Seven regional sales managers will be contracted as commissioned resellers and reporting to the Director of Business Development. Four have already been identified.

His expertise is in the Internet, Intranet and development of strategic business partnerships.

The technology provided by NCS has led to better patient care and a more efficient work environment.

His strategic partner relationships allowed NCS to develop end-to-end solutions for the exchange of data.

In this role, Mr. Smitzhe promoted point-of-care medication management, Internet and information products, and prepackaged medications.

He is currently National Implementation Manger for NCS HealthCare, the 4 largest long-term care pharmacy provider in the country and one that developed a proprietary software program that allows LTC facilities to interact real time with the pharmacy operating system. Mr. Smitzhe also serves as staff accountant and computer programmer with other firms in the real estate and HVAC industries.

He holds a Bachelor of Fine Arts from the Massachusetts College of Art and the Contel/Cado Software Developer Certification from Cado Training in Torrance, California. He has developed and maintained Contel/Cado based computers systems for the fuel oil industry, credit unions and construction companies. He developed and maintained PC-based programs for the long-term care industry, medical services and testing, home heating fuel oil, water treatment, ambulance services, shipping and postal service, law firms, plumbing and heating supply companies, and real estate tracking systems.

package.

As the creator of MasterLink, a software scheduling program designed specifically for the long-term care industry, Betty has gained a thorough working knowledge of the needs of the health care professional both as a user and a developer. Betty's experience includes Medical Records, Quality and Project Management in both acute and long-term care settings. Since MasterLink's inception in

Ms. Smitzhe also earned a Bachelor of Arts in Health Science Administration from Western III. University in Macomb, Illinois where she was a dean’s list student. More recently, Ms. Smitzhe completed the Medical Legal Consultant Course at Florida Risk Management, St. Petersburg, Florida.

We write business plans! To get started on yours, contact us here .

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How To Write A Business Plan: A Comprehensive Guide
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Management Team in a Business Plan
How to Write Your Business Plan Owner Bio & Team Structure

VIDEO

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COMMENTS

How to Write the Management Team Section of a Business Plan
Management Team Business Plan Example. Below are examples of how to include your management section in your business plan. Example #1. Key Team Members. Jim Smith, Founder & CEO. Jim has 15 years of experience in online software development, having co-founded two previous successful online businesses. His first company specialized in developing ...
How To Write a Management Team Business Plan (With an Example)
Consider following these instructions to create an impressive team business plan: 1. Collect resumes from each manager. Resumes typically discuss a professional's credentials, including education, work experience and soft and technical skills. You can use your management team's resumes to guide you into creating content for your business plan.
7 Best Business Plan Examples for Students (Updated 2024)
Objectives. The primary objectives of the business plan for Cooper's Cup are below: To increase revenues by $36,000 or 5% in Year 2 and $73,000 or 10% by Year 3. Achieve a profit margin of 5.2% in Year 2 and 6.90% by Year 3. Be the Cafe of Choice in the Phoenix area and the recipient of the Best Coffeehouse Award.
How to Write Management Team Section in a Business Plan
Here are a few key positions you would want to include in your management team business plan: Founder and/or CEO. Chief Technical Officer (CTO) Chief Marketing Officer (CMO) Head of Product Management (PM) VP of Sales. VP of Marketing. Business Development Manager. Customer Service Manager.
10 business plan examples for students to make an impact
Management team: Background of the photographer(s), roles in business management, marketing, and customer service. ... Let your imagination run wild and look through business plan examples for students if you want to start selling or offering something new to your school's community.
10 Business Plan Examples for Students
In this section, we'll explore 10 types of business plan examples for student entrepreneurship. 1. Traditional Business Plans. These classic business plans, often prepared on paper, provide a comprehensive overview of the business, detailing its identity, goals, and strategies for success. 2.
How to Write the Management Team Section to Your Business Plan
This is part 2 / 9 of Write Your Business Plan: Section 3: Selling Your Product and Team series. One crucial aspect of any business plan is the management team slide, which outlines the key ...
How to Write the Management Team Section of a Business Plan
Structure the management team section to include: An organizational chart of your small business, including departments, department managers and employees. Biographical information about you, the ...
How To Write the Management Section of a Business Plan
The management section of a business plan helps show how your management team and company are structured. The first section shows the ownership structure, which might be a sole proprietorship, partnership, or corporation. The internal management section shows the department heads, including sales, marketing, administration, and production.
How to Write a Management Team Business Plan (Plus Tips)
Follow these steps when writing the management team section of a business plan: 1. Compile relevant managerial resumes. Resumes are useful in outlining a professional's qualifications, educational history, work experience, and skills. The streamlined nature of a resume to the specific requirements of a role makes it helpful in writing a ...
How to Write a Great Business Plan: Management Team
In fact that's expected; no one does anything worthwhile on their own. Just make plans to get help from the right people. Finally, when you create your Management section, focus on credentials but ...
How to present the management team in your business plan?
As a general rule of thumb, 2 to 3 paragraphs per individual can be considered a good starting point. This recommendation may need to be modified depending on the size of your management team and the specific characteristics of your industry: If your business has less than five people: each member of the management team is crucial.
Get 550+ Business Plan Examples for Students in LivePlan
LivePlan's business plan examples help students turn ideas into top-notch business plans for class projects and startups. The tools, features, and instructional content allow you to focus on bringing out the best in your students for every plan and project. Before using LivePlan, my students were intimidated by the business planning process.
How to Write Management Team Section in Business Plan?
When writing the m anagement team section in business plan, c ollect the resumes of managers and key people. A resume typically packs every important professional detail about a person. You will need to use this information in the management team business plan section. Describe an ideal resume for a post if you are yet to hire a manager.
How to Write the Management Team Section of a Business Plan
The Management Team section is vital to the business plan no matter what the purpose is. With these writing tips, entrepreneurs and their partners can put together a section that is solid and fully informational in order to help them achieve their strategic goals. References: Deloitte & Touche. (2003). Writing an effective business plan.
Business Plan Section 3: Organization and Management
This section of your business plan, Organization and Management, is where you'll explain exactly how you're set up to make your ideas happen, plus you'll introduce the players on your team. As always, remember your audience. If this is a plan for your internal use, you can be a little more general than if you'll be presenting it to a ...
Business Plan
Here is a basic template that any business can use when developing its business plan: Section 1: Executive Summary. Present the company's mission. Describe the company's product and/or service offerings. Give a summary of the target market and its demographics.
How to Create a Business Plan: Examples & Free Template
Tips on Writing a Business Plan. 1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively. 2.
How to Write a Management Plan (with Examples)
For example, ownership might be divided in a partnership agreement or to holders of stock in the company. 2. Name your board members. If your business has a board, you should clearly identify its members. Write a brief summary of their leadership capabilities, past experiences, strengths, and weaknesses.
Management Team Plan
Business Plan Project Workbook Chapter 1: Management Team Plan In this Chapter:
Business PLAN ABM Group 2
She is currently a Grade 12 student taking up the Accountancy, Business and Management ABM. She wants to be a coffee shop and book owner in the future. Mae-ann C. Inoc. She was born on May 8, 2001. She is the daughter of Leticia and Danny Apa. She is currently a Grade 12 student taking up the Accountancy, Business and Management ABM. Her dream ...
5 Examples of a Management Plan for a Business Plan
5 Examples of a Management Plan for a Business Plan. John Spacey, January 26, 2020. In the context of a business plan, a management plan is a high level plan for the direction and control of an organization. The following are examples of elements that can be included in a management plan.
Sample business plan management and organization
Sample Business Plan. Following is a business plan written by The Business Plan Store. It is posted here with the express permission of the client. (Executive names are fictitious) Management Summary. Our management team is comprised of people with many years of experience in the long-term care provider and software development industries.

How to Write the Management Team Section of a Business Plan + Examples

What is a Management Team Business Plan?

Why is the Management Team Section of a Business Plan Important?

What to Include in Your Management Team Section

Management Team Members

Management Team Gaps

Management Team Business Plan Example

Key Team Members

How to Finish Your Business Plan in 1 Day!

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Other Resources for Writing Your Business Plan

Other Helpful Business Plan Articles & Templates

How to Write Management Team Section in a Business Plan

What is the Management Section of a Business Plan?

Importance of a Business Plan Management Section

What to include in the Management Section of a Business Plan?

1. The Management Team

The Internal Management Team

The External Management Team

2. The Management Team Gaps

3. The Management Structure

Example of a Management Section Plan

External Team Members

Professional Services

[Management Structure]

Frequently Asked Questions

Who should be included in the management team's business plan?

Do I need to include personal information about team members?

Related Articles

How to Write an Operations Plan Section of your Business Plan

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10 Business Plan Examples for Students (2024)

What is a business plan?

Tailoring your plan to your business

Parts of a business plan

Executive summary

Company description

Market analysis

Organizational structure

Product line or services offered

Marketing and sales strategies

Financial projections and funding requests

Why students need to master business plans

Enhancing strategic decision-making

Improving market research and analysis skills

Honing financial literacy and forecasting

Business plan examples for students

Tu toring services

Campus delivery service business

Campus fitness and wellness programs

Student freelance platform

Mobile app for campus services and networking business

Eco-friendly apparel brand

Sustainable campus living products

Student event planning service

Campus event photography service

Student art gallery and workshop space

Common mistakes to avoid for student businesses

Lack of a well-defined business plan

Underestimating the importance of market research

Overlooking legal and financial regulations

Inadequate financial planning and management

Ignoring the importance of a strong team

Overlooking customer feedback

Neglecting online marketing

Future steps for student business owners

Evaluating business performance

Exploring growth strategies

Scaling the business

Building a brand

Takeaways for business plan examples for students

Read More Articles:

DECAVERSITY

Writing the Business Plan

What Goes in a Business Plan?

Develop a Business Plan Worksheet

The Executive Summary

The Products/Services

Target Market