VII. The Management Team
The management team is the key to turning a good idea into a successful business. Bankers and investors look for a committed management team with a balance of technical, managerial, and business skills. The proposal should include a description of the organizational structure, key management personnel and their primary duties, and the board of directors, if applicable.
In a table, present the key management roles in the company and the individual who will fill each position. Discuss any current or past situations where the management personnel have worked together and indicate how their skills complement each other and result in an effective management team.
B. Key Personnel
Describe the exact duties and responsibilities of each key member of the management team. For each individual, include a brief statement of career highlights that focuses on his or her ability to perform the assigned role. A complete resume for each member should be included as an exhibit to the business plan.
C. Management Compensation and Ownership
State the salary that is to be paid to each member. Set forth stock ownership planned for key personnel, the amount of their equity investment, and any performance-dependent stock options or bonus plans that are contemplated.
D. Board of Directors
Discuss the company’s philosophy as to the size and composition of a board of directors. Identify proposed board members and include a short statement about each member’s background.