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Business Planning:
Who Makes Up Your Team?
As a business leader, you must not only
have a team, it is essential that you be 100% clear about who
makes up your team, what experience & talent they bring
to the table, and what their responsibilities include. Without
clarity in these domains, you will undoubtedly overlook potential
within your team, resulting in missed opportunities for not
only you and your team, but for the company as a whole. For
this reason, section D of the CNLB Business Plan Outline*
is: Management Team. After all, you are taking
precious time to write the plan for your company's future, discovering
and being with those sometimes pesky "I don't knows", and no
stone should be left unturned, particularly when it comes to
the heartbeat of the company, your team.
*Note: To access the
complete CSN Business Planning
Outline click here.
The Management Team section
includes a concentrated look at:
- Key Personnel
- Description of Responsibilities
- Organizational Chart
While every section of a written business
plan is extremely important, this section in particular serves
three purposes:
- It serves as a tool to communicate the
depth of your team and how their talents will contribute to
the success of your endeavor. Keep in mind that most people
who write a plan assume their staff, and it's their staff
that has the power to make or break the company.
- It serves as a tool for you, the author
and business owner, to take a look at who your team is comprised
of and what their individual contributions are to you and
your company and tells you what may be missing.
- It defines the roles of your team members.
When preparing the Management Team
section of your business plan, simply making a listing
of your key employees is a great place to begin. From this listing
you begin compiling data on these key team members. Now remember,
these are your team members and the writing of a business plan
for your company can easily be delegated to your team members.
Doing so will provide you with three things:
- First, you get help.
- Second, the key team member
writing out his or her own job responsibilities gives him/her
the opportunity to discover what they might not know about
their role as a key team member.
- Third, you get the chance
to check out how your team members perceive themselves as
a part of the management team. Are they clear about who you
expect and need them to be? Do they accurately describe their
responsibilities? And through this exercise, have they uncovered
for themselves any "Ah, has!" which in the end, will make
them a more productive team member?
In addition to this being a learning opportunity
for all, you do want to make sure some basic factual information
is included within this section, including: their background,
education, years of experience in their respective fields, and
whatever other skills and attributes will serve as vital assets
for the company.
This section can be much like a mini-biography
for all the management team. And while you do not want to summarize
everyone's resume, this is your chance to highlight your individual
team member's relevant strengths, talents, and experiences.
As you write and/or proof read each biography, take the time
to carefully look at the qualities of each individual. Ask yourself,
"Are they playing to their full potential? Is there a skill
that I may have overlooked? How can this person grow towards
becoming a bigger player?" When considering your team as a whole,
ask yourself, "What's missing? Does the team have the potential
to facilitate this plan without me being there? Do I have a
powerful enough team for this plan to be successful?" And
"If I don't, what am I going to do about it?"
If your company has an external support
network such as a board of directors, consultants, or accountants,
you may consider stating these in this section. You may also
consider stating your company's major investors, especially
if you are seeking additional capital. If you plan on naming
any individual within your external support network in your
written plan, get the written consent of these individuals first.
To summarize the Management Team section
you could use an organizational chart. Based on your preference,
you could also list this chart as a part of your appendix. When
writing this section, remember to use this time as an opportunity
to analyze your team and your support group. If there is something
that is missing, something that needs improvement, or something
that is working extremely well, then make notes and incorporate
these into future goals. And always remember, most successful
companies have an equally successful management team to support
them.
Note: When all of the factual information
for the Management Team section of your
written business plan is complete, you will want the introductory
paragraph of this section to serve as a summary of all of the
management team personnel, providing a strong statement of who
the key team members are and their role in contributing to the
success of the business plan. This introductory paragraph should
be short and to the point. You will want to discuss the overall
background of the team including their combined years of experience.
i.e.: "ABC Construction Company is supported by an outrageous
and unstoppable management team. Our management team is comprised
of individual's expertise in architecture, roofing, dry-wall,
carpentry, insulation, and business management. Together, the
team at ABC Construction has over 100 years of experience in
the trades." |
