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.As the creator of Master Link, 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. Smitzhe was co-founder and vice president of marketing and clinical services for Spectrum Health Services, Inc.
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.
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.
Now that we understand the structure of your business, we need to meet the people who’ll be running it. 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.
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Start at the top with the legal structure and ownership of the business.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.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.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 work flow.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.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.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.