From the course: Creating a Business Plan

Leading the organization

From the course: Creating a Business Plan

Leading the organization

- As you build your business, especially if you're seeking outside investment, the leadership team is going to be something people will evaluate very closely. Some investors say they'd rather invest in a great management team with an okay idea than in an okay management team with a great idea. The leadership team matters a lot, and this is your opportunity to show people how great that team is. In this section of the business plan, define who the executive team is and draw the organization chart, who reports to who. Put in the blank boxes with job descriptions for people you'll hire in the future. You should include brief bios of each leader and include their relevant experience that shows how they're going to contribute to the team. Link their past experiences and accomplishments to the role they'll be playing in this organization. You should also describe the ownership structure of the company, including decision-making authority. For example, does the founder of the company have final say or does the CEO? Include current ownership and a view of future ownership Last, what are the roles that need to be filled? And what are the timelines or triggers for filling them? Where are you going to seek this talent? And how are you going to acquire it? This section on the management team can't be underestimated in terms of its importance and having those great compelling bios that give an investor or even people who are looking to join the company an understanding of here's the team's capabilities, and here's how those capabilities tie directly to what this business does is going to inspire confidence in the investors as well as future team members.

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