Judge Your Team by Experience, Not Just Academic Degrees
In the management and organizational section of your business plan, you write the characteristics of all the people who are supposed to run the business. Provide their personal information, education, capabilities and work experience in full detail, and write their strengths and why each one of them is, in your opinion, a suitable option.
Do not prioritize individuals' academic achievements. Before listing these items, try to list the strengths of the people who work with you. Someone who has learned the job experimentally may be more knowledgeable than someone who has the degree for the job in question. Therefore, academic achievement is not a good comparative criterion. Focus on individuals' working capabilities instead of their academic degree. Experience is knowledge. Theoretical knowledge is fine, but experience is of greater importance.
You need to prove that the people you have considered for the business management can administer your plan. To have more coherence, create a table and write down the characteristics and information of all the people who will work in your business, take a responsibility or hold a particular position. The columns can be the full name, position, strengths, work experience and academic degree. A product manager might be listed with high work accuracy and familiarity with new methods, a marketing manager with the ability to work well under a high-pressure environment and openness to criticism, and a designer with creativity and willingness to learn.
This section has numerous applications. Writing the individuals' characteristics helps you understand better whether you can use these people in other parts of your business. You can employ individuals in different positions according to these writings. 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.
The section is also important for the people who examine your plan. It determines whether the bank or investor can trust you to manage the capital properly. It is one of the first parts a potential partner evaluates, because he or she takes a look at the resumes of the rest of the team and decides whether to become your partner. Craft this section with utmost preciseness and accuracy.