8. Management Team
Why Your Management Team is Important
The Management Team section of your plan details your team members.
This section is critical since the best plans in the world will not be executed if the team is incapable. By proving you have a strong team, you are signaling to investors that you can in fact achieve the plans and milestones included in your plan.
What to Include
The Management Team section of your plan has three sub-sections: Management Team Members, Management Team Gaps and Board Members.
Management Team Members
For each team member, detail their name, title and background. Their backgrounds are most important. Detail what positions they’ve held and what they accomplished in those positions. For example, by saying Jane Smith was the former Vice President of Manufacturing for XYZ company where she scaled manufacturing from 1,000 to 10 million products per month would be very impressive if your company was a startup manufacturer.
Management Team Gaps
If your management team has gaps (key people you expect to hire in the future), detail what position(s) is/are missing and who will fill the positions.
This could read like a job description. For instance, you might say that we will soon hire a VP of Sales. This person will have 10 years’ experience selling to big box retailers and has managed at least 100 sales representatives at a time in their career.
If you have a Board of Directors or Board of Advisors, include the bios of your Board members here.