The Management Plan and Securing Human Resources
This section is about the people who are going to manage the business. Write the characteristics of all the people who are supposed to run it, and make this part comprehensive: personal information, education, capabilities, and work experience, along with their strengths and why each one is a suitable option. While crafting this section, you will uncover many of your lost links and find individuals with pertinent capabilities for various parts of your work. Of course, your business may include one single person and be managed only by that person.
This section is of special importance in the version you prepare for the bank and the investor, since it determines whether they can trust you to manage the capital. If banks and investors have specific formats of their own, write according to those formats. Many people who fail to absorb capital for their business plan have made this simple mistake. In many cases the plan is read by a software tool, and not following a certain structure results in losing many opportunities.
Don't prioritize individuals' academic achievements. Before listing them, try to list the strengths of people who work with you. Someone who has learned the job experimentally may be more knowledgeable than someone who has the degree. Focus on working capabilities instead. Experience is knowledge. Theoretical knowledge is fine, but experience is of greater importance.
Team building is essential, as it will be the core of your business success. If a business owner fails to create a unique team that is ready to take the business to a greater height, then the business is bound to fail. Prepare a list of people you need on the path, and think of how you can secure them. In your 3, 5, or 10-year plan, consider what departments you will need. If you have someone special in mind, write down his or her name along with the department; otherwise, put only the titles you need and mention any source that can secure your human resources.