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How to Write the Management Team Section of a Business Plan + Examples

Written by Dave Lavinsky

management hierarchy

Over the last 20+ years, we’ve written business plans for over 4,000 companies and hundreds of thousands of others have used our business plan template and other business planning materials.

From this vast experience, we’ve gained valuable insights on how to write a business plan effectively , specifically in the management section.

What is a Management Team Business Plan?

A management team business plan is a section in a comprehensive business plan that introduces and highlights the key members of the company’s management team. This part provides essential details about the individuals responsible for leading and running the business, including their backgrounds, skills, and experience.

It’s crucial for potential investors and stakeholders to evaluate the management team’s competence and qualifications, as a strong team can instill confidence in the company’s ability to succeed.

Why is the Management Team Section of a Business Plan Important?

Your management team plan has 3 goals:

  • To prove to you that you have the right team to execute on the opportunity you have defined, and if not, to identify who you must hire to round out your current team
  • To convince lenders and investors (e.g., angel investors, venture capitalists) to fund your company (if needed)
  • To document how your Board (if applicable) can best help your team succeed

What to Include in Your Management Team Section

There are two key elements to include in your management team business plan as follows:

Management Team Members

For each key member of your team, document their name, title, and background.

Their backgrounds are most important in telling you and investors they are qualified to execute. Describe what positions each member has held in the past and what they accomplished in those positions. For example, if your VP of Sales was formerly the VP of Sales for another company in which they grew sales from zero to $10 million, that would be an important and compelling accomplishment to document.

Importantly, try to relate your team members’ past job experience with what you need them to accomplish at your company. For example, if a former high school principal was on your team, you could state that their vast experience working with both teenagers and their parents will help them succeed in their current position (particularly if the current position required them to work with both customer segments).

This is true for a management team for a small business, a medium-sized or large business.

Management Team Gaps

In this section, detail if your management team currently has any gaps or missing individuals. Not having a complete team at the time you develop your business plan. But, you must show your plan to complete your team.

As such, describe what positions are missing and who will fill the positions. For example, if you know you need to hire a VP of Marketing, state this. Further, state the job description of this person. For example, you might say that this hire will have 10 years of experience managing a marketing team, establishing new accounts, working with social media marketing, have startup experience, etc.

To give you a “checklist” of the employees you might want to include in your Management Team Members and/or Gaps sections, below are the most common management titles at a growing startup (note that many are specific to tech startups):

  • Founder, CEO, and/or President
  • Chief Operating Officer
  • Chief Financial Officer
  • VP of Sales
  • VP of Marketing
  • VP of Web Development and/or Engineering
  • UX Designer/Manager
  • Product Manager
  • Digital Marketing Manager
  • Business Development Manager
  • Account Management/Customer Service Manager
  • Sales Managers/Sales Staff
  • Board Members

If you have a Board of Directors or Board of Advisors, you would include the bios of the members of your board in this section.

A Board of Directors is a paid group of individuals who help guide your company. Typically startups do not have such a board until they raise VC funding.

If your company is not at this stage, consider forming a Board of Advisors. Such a board is ideal particularly if your team is missing expertise and/or experience in certain areas. An advisory board includes 2 to 8 individuals who act as mentors to your business. Usually, you meet with them monthly or quarterly and they help answer questions and provide strategic guidance. You typically do not pay advisory board members with cash, but offering them options in your company is a best practice as it allows you to attract better board members and better motivate them.

Management Team Business Plan Example

Below are examples of how to include your management section in your business plan.

Key Team Members

Jim Smith, Founder & CEO

Jim has 15 years of experience in online software development, having co-founded two previous successful online businesses. His first company specialized in developing workflow automation software for government agencies and was sold to a public company in 2003. Jim’s second company developed a mobile app for parents to manage their children’s activities, which was sold to a large public company in 2014. Jim has a B.S. in computer science from MIT and an M.B.A from the University of Chicago

Bill Jones, COO

Bill has 20 years of sales and business development experience from working with several startups that he helped grow into large businesses. He has a B.S. in mechanical engineering from M.I.T., where he also played Division I lacrosse for four years.

We currently have no gaps in our management team, but we plan to expand our team by hiring a Vice President of Marketing to be responsible for all digital marketing efforts.

Vance Williamson, Founder & CEO

Prior to founding GoDoIt, Vance was the CIO of a major corporation with more than 100 retail locations. He oversaw all IT initiatives including software development, sales technology, mobile apps for customers and employees, security systems, customer databases/CRM platforms, etc. He has a  B.S in computer science and an MBA in operations management from UCLA.

We currently have two gaps in our Management Team: 

A VP of Sales with 10 years of experience managing sales teams, overseeing sales processes, working with manufacturers, establishing new accounts, working with digital marketing/advertising agencies to build brand awareness, etc. 

In addition, we need to hire a VP of Marketing with experience creating online marketing campaigns that attract new customers to our site.

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Other Resources for Writing Your Business Plan

  • How to Write an Executive Summary
  • How to Expertly Write the Company Description in Your Business Plan
  • How to Write the Market Analysis Section of a Business Plan
  • The Customer Analysis Section of Your Business Plan
  • Completing the Competitive Analysis Section of Your Business Plan
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  • How to Create Financial Projections for Your Business Plan
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How to Write the Management Team Section to Your Business Plan Think you've got an all-star lineup? These are the key characteristics to showcase.

By Eric Butow • Oct 27, 2023

Key Takeaways

  • Who to include in your org chart
  • The key traits to highlight

Opinions expressed by Entrepreneur contributors are their own.

This is part 1 / 8 of Write Your Business Plan: Section 3: Selling Your Product and Team series.

One crucial aspect of any business plan is the management team slide, which outlines the key employees in the organization. Here are some things to keep in mind when putting together your all-star lineup.

Put Yourself First

Don't be modest. If you're the head of the business, you should feature yourself first. After all, you are the entrepreneur behind the business venture, and you will have to put your neck on the line, answer the hard questions, and take the criticism— as well as the praise and acclaim, should there be some.

If you want to impress people with your management team, it's essential to let your readers know who is at the helm and who is selecting the management team. Explain your background, including your vision, your credentials, and why you chose the management team you did.

A business follows the lead of the founder, and as such, you need to briefly explain what is expected of this management team and the role you see it, as a group, playing in the future of this business.

Related: Does Your Team Have the Right Stuff to Attract Venture Capital?

Highlight These Characteristics

Identifying your managers is about presenting what they bring to the table. You can provide this by describing them in terms of the following characteristics:

Education Impressive educational credentials among company managers provide strong reasons for an investor or other plan reader to feel good about your company. Use your judgment in deciding what educational background to include and how to emphasize it. If you're starting a fine restaurant, for example, and your chef graduated at the top of her class from the Culinary Institute of America, play that front and center. If you're starting a courier service and your partner has an anthropology degree from a little-known school, mention it, but don't make a big deal out of it.

Employment Prior work experience in a related field is something many investors look for. If you've spent ten years in management in the retail men's apparel business before opening a tuxedo outlet, an investor can feel confident that you know what you're doing. Likewise, you'll want to explain your team members' key, appropriate positions. Describe any relevant jobs in terms of job title, years of experience, names of employers, and so on. But remember, this isn't a resume. You can feel free to skim over or omit any irrelevant experience. You do not have to provide exact dates of employment.

Related: How to Craft a Business Plan That Will Turn Investors' Heads

Skills A title is one thing, but what you learn while holding it is another. In addition to pointing out that you were a district sales manager for a stereo equipment wholesaler, you should describe your responsibilities and the skills you honed while fulfilling them. Again, list your management team's skills that pertain to this business. A great cook may have incredible accounting skills, but that doesn't matter in the new restaurant's kitchen.

Each time you mention skills that you or a management team member has spent years acquiring at another company, it will be another reason for an investor to believe you can do it at your own company.

Accomplishments Dust off your plaques and trot out your calculator for this one. If you or one of your team members has been awarded patents, achieved record sales gains, or once opened an unbelievable number of new stores in the space of a year, now's the time to talk about it. Don't brag. Just be factual and remember to quantify. If, for example, you have twelve patents, your sales manager had five years of thirty percent annual sales gains, and you oversaw the grand openings of forty-two stores in eleven months, this is the stuff investors and others reading your business plan will want to see. Investors are looking to back impressive winners, and quantifiable results speak strongly to businesspeople of all stripes.

Personal information Investors want to know with whom they're dealing in terms of the personal side. Personal information on each member of your management team may include age, city of residence, notable charitable or community activities, and, last but not least, personal motivation for joining the company. Investors like to see vigorous, committed, and involved people in the companies they back. Mentioning one or two of the relevant personal details of your key managers may help investors feel they know what they're getting into, especially in today's increasingly transparent business climate.

Related: How to Evaluate Your Startup Like a VC

Who to Include in Your Plan

Should you mention everyone in your organization down to shop foremen or stop with the people on your executive committee? The answer is probably neither. Instead, think about your managers in terms of the crucial functions of your business.

In deciding the scope of the management section of your plan, consider the following business functions, and make sure you've explained who will handle those that are important to your enterprise:

  • Advertising
  • Distribution
  • Human Resources
  • Technical Operations

Related: How To Build a Team of Outside Experts for Your Business

What Does Each Person Do?

There's more to a job than a title. A director in one organization is a high and mighty individual, whereas a director is practically nobody in another company. Many industries have unique job titles, such as managing editor, creative director, and junior accountant level II, with no counterparts in other industries.

In a longer plan, when you give your management team's background and describe their titles, don't stop there. Go on and tell the reader exactly what each management team member will be expected to do in the company. This may be especially important in a startup, where not every position is filled. If the CFO will handle your marketing work until you get further down the road, let readers know this upfront. You certainly can't expect them to figure that out on their own.

In a shorter business plan, or mini-plan , choose those people most vital to your business. If you are opening a martial arts studio, the instructors, or lead instructors, are significant, as is the software developer in a new software company. While you have room to describe these people in more detail in a longer plan, in the shorter miniplans, use one defining sentence for your top five people.

Related: 6 Tips for Making a Winning Business Presentation

Future Hires

If you do have significant holes in your management team, you'll want to describe your plans for filling them. You may say, for example, "Marketing duties are being handled temporarily by the vice president for finance. Once sales have reached the $500,000 per month level, approximately six months after startup, a dedicated vice president of marketing will be retained to fulfill that function."

In some cases, particularly if you're in a really shaky startup and need solid talent, you may have to describe in some detail your plans for luring a hotshot industry expert to your fledgling enterprise. Then, briefly describe your ideal candidate. For a mini-plan, you may write, "We plan to hire a marketing VP who excels in reaching our 20–29 target market."

Related: Vusi Thembekwayo's 7 Rules of Pitching

More in Write Your Business Plan

Section 1: the foundation of a business plan, section 2: putting your business plan to work, section 3: selling your product and team, section 4: marketing your business plan, section 5: organizing operations and finances, section 6: getting your business plan to investors.

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Business Plan Management Team Section

An overview of your founders, key employees, and advisors, management team.

The purpose of including the management team in a business plan is that it provides an overview of your founders and key employees. Yet, in the beginning, that might be just one person. You can increase your plan’s credibility by establishing a supporting cast of key mentors and advisors and including them in this section.

This article provides information about how to present your management team, including examples and a management team template you can use for your business plan.

Important Considerations for Presenting Your Management Team

Venture capitalists will often say, “We don’t invest in ideas. We invest in people.” Their rationale is that, over time, the idea will have to evolve. The right team will develop the idea into a winner. But the wrong team can ruin even what was initially an outstanding idea. So the question to be answered by this section is, “What experience and achievements in this team’s past demonstrate that they will succeed in this new business?”

Business Plan Outline for your Management Team:

The structure for the management team section of your business plan is straightforward. For each bullet point item below, expand on the experience and value brought to your company by their participation. The following sections will recommend best practices for presenting your management team in a way that investors and lenders will appreciate.

  • Key Employees

Hiring Plans

Board members.

  • Professional Advisors

Founders and CEOs

Most startup businesses will be led by the founder as the Chief Executive Officer or CEO. For a startup, the title of President is equally suitable.

If Your Founder is also the CEO

Assuming your President or CEO is also the founder, begin your Management Team section with a description of the individual who will be the CEO or senior person in charge of running the company.

Under the heading of Founder and CEO, include a mini-bio relevant to the credibility of this person leading the firm to success. A lender or investor will go to LinkedIn to get the full bio, so stick to the essential elements.

The best thing you can say about the founder is that he or she has CEO-level experience running a similar business or one in a similar space. Realistically, you’re only sometimes going to be able to say that. What can you say?

First, present the most relevant experience that makes the CEO “investable.” That could be technical expertise, sales experience, or management skills from another company. By stating the most relevant experience to the new business right up front, you’ll help the reader see the transferable skills. If there is no CEO experience, don’t worry. In the following sections, we’ll show you how to build a bridge of confidence to cover that gap.

If Your Founder is not the CEO

If the founder is not the CEO, two questions must be answered in this lead-off sub-section of your business plan management team. First, why is the founder not leading the company as its CEO? Next, what role will the founder play in the business?

Hopefully, the first question answers itself by presenting the outstanding qualifications of the CEO, such that the reader would be impressed by the fact that you were able to get this person to come on board to grow your business. A simple example would be:

Robert Nelson has 20 years of experience in our industry, 10 of that as a CEO. Robert will lead MyCo as our CEO. Robert is known and respected in the field and will surely accelerate our growth.  

Dana Elders, our founder, worked under Robert as the head of sales, where he flourished. Dana will be MyCo’s President and will also be responsible for driving revenue. 

Whatever the circumstances are that led to your founder not being the CEO, one would expect that there is an advantage with an upside. Otherwise, why would the founder abdicate this role? Be sure to identify the upside in your business plan.

Key Management Team Members

Highlight the relevant experience and accomplishments your team brings to the table. You can include the resumes of your key management team members as appendices in your business plan and refer to them in this section.

Whom should you include?

Include as many of the following roles in your management team as you have filled. Adapt these to align more closely with the important roles in your industry.

  • Any VP-level person
  • Chief Operating Officer
  • Chief Financial Officer
  • Chief Product Officer
  • Chief Technology Officer
  • Head of Sales
  • Head of Marketing
  • Head of Operations
  • Any outstanding contributor with experience that will obviously contribute to the success of your business.

What to Say about Each Person on Your Management Team

For each individual you list, include their relevant experience, transferable skills, and key accomplishments, emphasizing factors that will contribute to your business’ success. Avoid making readers “connect the dots” on their own. Rather, make the connection for them.

For example:

Jose Rodero, VP of Product and Marketing.  

In Jose’s previous role as Chief Product Officer of LikeMine Company, he expanded into new markets and tripled the size of the business in three years. This experience is ideal for MyCo as we move beyond a single market to expand into adjacent markets. 

Highlight Relevant Accomplishments

For each person you list in the key management section, it’s helpful to convey a pattern of accomplishments, such as, “At her last company, Ms. Johnson was named Employee of the Year for the past two years. During that time, she was twice promoted. First to VP of Sales and then to COO.

Leave out admirable but “sideline” accolades such as, “Ms. Johnson is a two-time winner of the La Jolla Triathlon.” Unless an accolade relates to the success of your business, you’re better off mentioning it in the biography (included as an appendix) or leaving it out altogether.

At the early stages of your company, you might be missing some key people on your management team—this is normal and acceptable. Usually, this has a lot to do with why you are seeking funding. If you haven’t yet hired all your key people, you can address this in your business plan in two ways.

First, if you have lined up some individuals who will come on board when you bring in your funding, you can identify them in your business plan. If this information is not ready to be disclosed, you can allude to it in generalized terms without divulging the person’s name or current company.

“We have identified an individual with ten years of experience in a similar company to fill the Director of Marketing role. Pending the timing of our funding, we expect this person to join our team.

Next, address any gaps in your management team that need to be filled. Identify key hires that remain and the order in which you expect to fill the positions. Doing so shows that you’re thinking ahead and shields you from any criticism about holes in your current team.

While you may think these gaps are a weakness in your plan, your potential investors or lenders become a source of free candidate referrals!

Board of Directors versus Board of Advisors

There are two types of boards: a board of directors and a board of advisors, sometimes called an advisory board. A board of directors can have specific legal responsibilities and authority. For that reason, some individuals would prefer to join a board of advisors.

A board of advisors generally has fewer or no formal responsibilities but can be just as beneficial to the company through the guidance they provide. It’s never too early, and your business is never too small to have a board of advisors.

Whether it’s a board of directors or a board of advisors, it is important to surround yourself with experienced advisors who will provide sound advice that you will be willing to follow. Anything less will waste your time and theirs.

One founder we met with had this to say about a particular board member:

“I selected him to be on the board of my first company because he was strongly recommended by two successful business people I knew. I found him to be someone who pushed back on many of my ideas, asked lots of tough questions, and always held me to task on everything I said we would accomplish. We were not friends outside of the business.

When I started my next business, and we needed to set up a board–he was the first person I called.” 

Your best board members may not be your best friends, and hopefully, they won’t be people who think just like you. A board brings a diversity of thought and critical thinking. They help you be a better version of yourself.

Having a board of directors or board of advisors tells lenders and investors that you value the input of outside thinking and have the skills to build relationships with people who can help your business succeed. That bodes well for the future success of your business!

Board of Directors

Your initial board of directors will almost certainly be led by the founder as its Chair. Typically, a co-founder, angel investor, or key employee with very senior executive experience might also be on the board. A small board of directors is fine, especially if you’ll be adding a board of advisors.

Depending on the state where you start your business and your corporate structure, a minimum number of board members may be prescribed.

Advisory Board

If you still need to get a board of directors beyond the minimum required roles, consider putting together a board of advisors. Chances are you have mentors and people with relevant experience who are giving you input on your business idea. Perhaps one of them is even a customer or potential customer.

Consider asking these people to agree to be on your board of advisors, a group that would meet quarterly to hear updates on your business and to provide input. With their consent, you can list members of your board of advisors in your business plan. You’ll find that accomplished people are often happy to join your board of advisors for little or no compensation.

What to Show in Your Business Plan for Board Members (Directors and Advisors)

For each board member in your board of directors and board of advisors, list their name, current or most recent position, and company. If members have special experience that pertains strongly to your business, naturally, you would also want to include that information. Include up to two or three sentences of narrative about each board member.

Using the format above, first list your Board of Directors and then your Board of Advisors.

Professional Services Advisors

If you have worked with an attorney to establish your business, an accountant to help prepare your financial forecasts, or an advertising or PR firm to help prepare some promotional materials—include these organizations in your business plan’s management section under the heading “Professional Advisors.”

Bankers and investors are often well-connected to area professional service providers. Knowing that you are working with recognized names in the business community can boost your credibility. It also tells the reader that you’re being advised by professionals.

Be sure to let your advisors know in advance that you’ve listed them in your business plan since oftentimes, they’ll get a phone call asking for their impressions of the business. Better still, seek and obtain their permission.

In this section, include the type of services provided, the name of the firm, and your primary contact.

Legal Advisors: Dewey and Howe. Jerry Mander, Partner.

Management Team Example Summary

Most startup businesses have a lean management team. A savvy founder will find a way to surround him or herself with individuals who will help the business get started, grow and thrive as non-executive contributors.

Use our provided information and management team examples to present a well-rounded management team section in your business plan.

If you still need to get some of the ancillary advisors we’ve recommended, now is the time to expand your influence circle. You’ll find that there are highly qualified individuals who are willing and even enthusiastic to be a part of your success.

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Tips on Writing the Management Team Section of a Business Plan

Ultimate Guide On Writing A Business Plan

Free Ultimate Guide On Writing A Business Plan

  • December 21, 2023

10 Min Read

Management Section

A business is as efficient as its team and its management. It, therefore, becomes important for business owners to build a structured management team that achieves the objectives and goals set by the organization. Thus, making the management section of a business plan the most essential component.

Andrew Carnegie , an American steel magnate, beautifully summarized it –

Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.

A business management plan helps build an efficient team and formalize business operations . This helps businesses streamline strategies to achieve their goals.

It, therefore, becomes imperative that business owners pay utmost importance while writing the management section of a business plan.

So, if you are a business owner who is looking to formalize their business structure and write the management team section in their business plan , this guide is for you.

Here’s a sneak peek into what you’ll learn:

Table of Contents

  • What Is the Management Section?
  • Importance of the Management Section
  • What to Include in the Management Section?
  • Example of a Management Section Plan
  • Ensure That the Management Section Is Fool-proof?

Sounds good? Let’s dive in.

What Is The Management Section Of A Business Plan?

The management section of a business plan is an in-depth description of a business’s team, its structure, and the ownership of a business.

The section discusses in detail who is on the management team – internal and external- their skill sets, experiences, and how meaningfully they would contribute to an organization’s goals and outcomes.

Now that we have defined what is the management section of a business plan, let’s understand why it is so important.

The Importance Of The Management Section Of A Business Plan

The management section helps you to:

1. Convince your investors (banks and government agencies) to disburse loans and grants for your business idea

2. Prove that your management team can execute your idea and if not, help hire the right fit for a position

3. Share how your advisory board can help your team succeed

What To Include In the Management Section Of A Business Plan?

The management section of a business plan helps in formalizing and structuring the management team plan and is comprised of

  • The Management Team
  • The Management Team Gaps
  • The Management Structure

Let’s understand them in detail.

1. The Management Team

An organization’s entire management team can be divided into parts – the internal team and the external team.

The Internal Management Team

A business team consists of several departments. The most common departments are – Marketing, Sales, IT, Customer Service, Operations, Finance, and HR.

These departments may or may not be required. It purely depends on the nature and functioning of your business. For example, a dental clinic may not require a sales department per se.

The entire management team is compartmentalized according to their responsibility. This helps the business owners and investors be aware of the roles, benefits, ESOPs (if applicable), profit sharing (for sales), work contracts, NDAs (Non-Disclosure Agreements), and Non-Competition Agreements of the entire team.

It is recommended that business owners collect and document the following information about their team:

  • Educational Background
  • Work Experience
  • Accomplishments

The Internal Management Team

For example, your present VP of Marketing helped their previous company grow its bottom line from $3 million to $10 million over 18 months.

The External Management Team

The external management team is usually composed of – Advisory Board Members and Professional Services.

Advisory board members help by :

  • Establishing trust, showing results, and experiencing the table.
  • Increasing the confidence of investors and consumers.

This helps attract talented employees to the team. Credible advisory board members show great commitment to a company’s growth. Therefore, it becomes important to document their experience and specialization in the business management plan. The advisory board members can help give valuable advice that internal team members need or lack.

If your business has not or will not have VC funding, you may not require board members on your team.

Usually, board members meet quarterly or monthly to provide strategic guidance in place of stock options in your company. This helps attract the best advisors and motivates them to invest in your business.

For example, founders and business owners coming to raise funds in Shark Tank , a business television series, are looking for advisory members who would invest money and provide guidance on necessary steps.

On the other hand, Professional Service helps by

  • Offering highly specialized advice and sharing knowledge.
  • Business owners make key strategic management decisions.

Such services help businesses leverage skills that would be difficult to build and acquire over a short period.

Examples of such professional services are

Examples of such professional services

  • IT Consultants
  • Business coaches and consultants

After a brief overview of the Management Team of an organization, let’s dive into what to include in Management Team Gaps.

2. The Management Team Gaps

The management team gap is an important part of the management section. Primarily because it helps document if your management team currently has gaps or missing skills. Your team may lack a few required skills while starting. The management team gaps help you to be aware and make efforts to close this gap.

As a business owner, you must document what positions are missing and who ought to fill that positions or take responsibility.

For example, if you need a VP of Sales, clearly document this in the section.

Also, write down the job description and key responsibilities to be undertaken,

Example – You might mention that role required 10 years of experience in the sales domain. The applicant must have experience handling a sales team, closing new accounts, working in tandem with the marketing team, and having relevant startup experience.

Be as detailed as possible. This will help you build a checklist while interviewing the right candidate and also win investor confidence in your managerial skills.

Following are a few key positions you would want to include in your management team:

  • Founder and/or, CEO
  • Chief Technical Officer (CTO)
  • Chief Marketing Officer (CMO)
  • Chief Operating Officer (COO)
  • Chief Financial Officer (CFO)
  • Chief Human Resources Officer (CHRO)
  • Head of Product Management (PM)
  • VP of Sales
  • VP of Marketing
  • UX Designer
  • Digital Marketing Manager
  • Business Development Manager
  • Customer Service Manager
  • Customer Success Manager
  • Sales Managers/Sales Staff
  • Advisory Board Members

Let’s dive into the nitty-gritty of the management structure.

3. The Management Structure

The management structure defines how a business organizes its management hierarchy. A hierarchy helps determine the roles, positions, power, and responsibilities of all team members.

The management structure also depends upon the type of business ownership. Business ownership can be – a sole proprietorship, partnership, or simply an LLC.

Following is a sample management structure of an organization.

The Management Structure

Now that we understand what details we need to document in the business management plan, let’s look at a few examples of the management plan.

The ultimate guide to starting a business

Example Of A Management Section Plan

[management section of a hotel], [management team], internal team members.

Name: Charles Fargo Role: Owner Responsibility: Formulating key strategies, defining budgets, and building a business plan Experience: 35 years of owning multiple hotels in Las Vegas Educational Background: B.Sc in Hospitality Management from South Dakota State University.

Name: Michael Clark Role: General Manager Responsibility: Overall hotel operations – guest interactions, revenue management, brand ambassador of the hotel, customer satisfaction, and experience, leadership to all departments Experience: 25 years working with several technology hotels as the general manager. Educational Background: MBA from Wharton School

Name: George Trump Role: Department Manager Responsibility: Manage employees, smooth coordination amongst employees, plan daily affairs of the department, strategize, prepare reports, and deal with complaints and suggestions. Lead team members to function as a team Experience: 15 years working as a department manager Educational Background: BSc in Hotel Management from Texas University

Note: There can be multiple Department Managers depending on the nature of your business. In the case of hotels, departments can include – housekeeping, logistics, security, food, and banquets.

Name: Donald Clooney Role: Marketing and Sales Manager Responsibility: Increase occupancy and generate revenue. Position the hotel as an option for leisure activities, relaxation, and holidays. Experience: 11 years working as the marketing and sales manager for hotels Educational Background: MBA in Tourism and Hospitality from Midway University

External Team Members

Advisory Board Member

#1 Richard Branson Responsibility: Strategic advisory for sustainable growth and expansion Experience: Founder of Virgin Group

Professional Services

[management structure].

Example Of A Management Section Plan

There is a gap in one key position in our startup.

#1 Chief Finance Officer (CFO) Responsibilities: Finance, Accounting, Tracking Profit and Loss, and overseeing FP&A (Financial Planning and Analysis)

How To Ensure That The Management Section Of Your Business Plan Is Fool-Proof?

“In preparing for battle I have always found that plans are useless, but planning is indispensable.” ― Dwight D. Eisenhower

By building a fool-proof management plan and ensuring that all the intricate details are accounted for, we can ensure that your business has a greater chance of succeeding.

Business planning software like Upmetrics ensures that business owners, like you, get the management section planning correct on the first attempt itself.

You can also get started with a free demo today to discover how Upmetrics can help you plan your business in a breeze.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Write a Business Plan: Step-by-Step Guide + Examples

Determined female African-American entrepreneur scaling a mountain while wearing a large backpack. Represents the journey to starting and growing a business and needing to write a business plan to get there.

Noah Parsons

24 min. read

Updated March 18, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

  • The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

  • Raise money
  • Grow strategically
  • Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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  • What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

  • A summary of the problem you are solving
  • A description of your product or service
  • An overview of your target market
  • A brief description of your team
  • A summary of your financials
  • Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

  • Supply chain management
  • Manufacturing processes
  • Equipment and technology
  • Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

  • A description of each task
  • The proposed due date
  • Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

  • Website launch date
  • Store or office opening date
  • First significant sales
  • Break even date
  • Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

  • Conversion rates
  • Customer acquisition costs
  • Profit per customer
  • Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

  • Sole proprietor
  • Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

  • Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
  • Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
  • Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
  • Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
  • Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

  • Company logo
  • Business name
  • Value proposition (optional)
  • Business plan title
  • Completion and/or update date
  • Address and contact information
  • Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

  • Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information you need to cover in a business plan sometimes isn’t quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

If you’re looking for a free downloadable business plan template to get you started, download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

  • Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
  • Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
  • Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
  • Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
  • Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

  • Did you meet your sales goals?
  • Is spending following your budget?
  • Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

  • Write a brief executive summary
  • Describe your products and services.
  • Conduct market research and compile data into a cohesive market analysis.
  • Describe your marketing and sales strategy.
  • Outline your organizational structure and management team.
  • Develop financial projections for sales, revenue, and cash flow.
  • Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

  • 1. Not taking the planning process seriously.
  • Having unrealistic financial projections or incomplete financial information.
  • Inconsistent information or simple mistakes.
  • Failing to establish a sound business model.
  • Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

  • How will your business make money?
  • Is there a need for your product or service?
  • Who are your customers?
  • How are you different from the competition?
  • How will you reach your customers?
  • How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Content Author: Noah Parsons

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

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Table of Contents

  • Use AI to help write your plan
  • Common planning mistakes
  • Manage with your business plan
  • Templates and examples

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Writing the Organization and Management Section of Your Business Plan

What is the organization and management section in a business plan.

  • What to Put in the Organization and Management Section

Organization

The management team, helpful tips to write this section, frequently asked questions (faqs).

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Every business plan needs an organization and management section. This document will help you convey your vision for how your business will be structured. Here's how to write a good one.

Key Takeaways

  • This section of your business plan details your corporate structure.
  • It should explain the hierarchy of management, including details about the owners, the board of directors, and any professional partners.
  • The point of this section is to clarify who will be in charge of each aspect of your business, as well as how those individuals will help the business succeed.

The organization and management section of your business plan should summarize information about your business structure and team. It usually comes after the market analysis section in a business plan . It's especially important to include this section if you have a partnership or a multi-member limited liability company (LLC). However, if you're starting a home business or are  writing  a business plan for one that's already operating, and you're the only person involved, then you don't need to include this section.

What To Put in the Organization and Management Section

You can separate the two terms to better understand how to write this section of the business plan.

The "organization" in this section refers to how your business is structured and the people involved. "Management" refers to the responsibilities different managers have and what those individuals bring to the company.

In the opening of the section, you want to give a summary of your management team, including size, composition, and a bit about each member's experience.

For example, you might write something like "Our management team of five has more than 20 years of experience in the industry."

The organization section sets up the hierarchy of the people involved in your business. It's often set up in a chart form. If you have a partnership or multi-member LLC, this is where you indicate who is president or CEO, the CFO, director of marketing, and any other roles you have in your business. If you're a single-person home business, this becomes easy as you're the only one on the chart.

Technically, this part of the plan is about owner members, but if you plan to outsource work or hire a virtual assistant, you can include them here, as well. For example, you might have a freelance webmaster, marketing assistant, and copywriter. You might even have a virtual assistant whose job it is to work with your other freelancers. These people aren't owners but have significant duties in your business.

Some common types of business structures include sole proprietorships, partnerships, LLCs, and corporations.

Sole Proprietorship

This type of business isn't a separate entity. Instead, business assets and liabilities are entwined with your personal finances. You're the sole person in charge, and you won't be allowed to sell stock or bring in new owners. If you don't register as any other kind of business, you'll automatically be considered a sole proprietorship.

Partnership

Partnerships can be either limited (LP) or limited liability (LLP). LPs have one general partner who takes on the bulk of the liability for the company, while all other partner owners have limited liability (and limited control over the business). LLPs are like an LP without a general partner; all partners have limited liability from debts as well as the actions of other partners.

Limited Liability Company

A limited liability company (LLC) combines elements of partnership and corporate structures. Your personal liability is limited, and profits are passed through to your personal returns.

Corporation

There are many variations of corporate structure that an organization might choose. These include C corps, which allow companies to issue stock shares, pay corporate taxes (rather than passing profits through to personal returns), and offer the highest level of personal protection from business activities. There are also nonprofit corporations, which are similar to C corps, but they don't seek profits and don't pay state or federal income taxes.

This section highlights what you and the others involved in the running of your business bring to the table. This not only includes owners and managers but also your board of directors (if you have one) and support professionals. Start by indicating your business structure, and then list the team members.

Owner/Manager/Members

Provide the following information on each owner/manager/member:

  • Percentage of ownership (LLC, corporation, etc.)
  • Extent of involvement (active or silent partner)
  • Type of ownership (stock options, general partner, etc.)
  • Position in the business (CEO, CFO, etc.)
  • Duties and responsibilities
  • Educational background
  • Experience or skills that are relevant to the business and the duties
  • Past employment
  • Skills will benefit the business
  • Awards and recognition
  • Compensation (how paid)
  • How each person's skills and experience will complement you and each other

Board of Directors

A board of directors is another part of your management team. If you don't have a board of directors, you don't need this information. This section provides much of the same information as in the ownership and management team sub-section. 

  • Position (if there are positions)
  • Involvement with the company

Even a one-person business could benefit from a small group of other business owners providing feedback, support, and accountability as an advisory board. 

Support Professionals

Especially if you're seeking funding, let potential investors know you're on the ball with a lawyer, accountant, and other professionals that are involved in your business. This is the place to list any freelancers or contractors you're using. Like the other sections, you'll want to include:

  • Background information such as education or certificates
  • Services provided to your business
  • Relationship information (retainer, as-needed, regular, etc.)
  • Skills and experience making them ideal for the work you need
  • Anything else that makes them stand out as quality professionals (awards, etc.)

Writing a business plan seems like an overwhelming activity, especially if you're starting a small, one-person business. But writing a business plan can be fairly simple.

Like other parts of the business plan, this is a section you'll want to update if you have team member changes, or if you and your team members receive any additional training, awards, or other resume changes that benefit the business.

Because it highlights the skills and experience you and your team offer, it can be a great resource to refer to when seeking publicity and marketing opportunities. You can refer to it when creating your media kit or pitching for publicity.

Why are organization and management important to a business plan?

The point of this section is to clarify who's in charge of what. This document can clarify these roles for yourself, as well as investors and employees.

What should you cover in the organization and management section of a business plan?

The organization and management section should explain the chain of command , roles, and responsibilities. It should also explain a bit about what makes each person particularly well-suited to take charge of their area of the business.

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How To Write a Management Team Business Plan (With an Example)

When creating a business plan, the management section outlines your management team, personnel, resources, and the ownership structure of your company. This section should not only list the members of your management team but also how their individual skill sets will affect your financial results. We’ll go into detail about how to put together and highlight your management team in this article. This section can be conveniently organized by dividing it into the following sections:

Writing the Management Team Section of Your Business Plan

How to write a management team business plan

Consider using these guidelines to produce a powerful team business plan:

1. Collect resumes from each manager

Typically, resumes outline a professional’s qualifications, including their training, prior employment, and technical and soft skills. You can use the resumes of your management team as a resource when writing content for your business plan. Ask each manager to send a fresh copy of their resume Asking them to modify their resume to reflect their specific position within your company could be useful and make it simpler for you to create their profiles. Include copies of their resumes as annexes to your proposal.

2. Organize your management team into categories

The next step is to depict the chain of command within your company. List the profiles, going from the company’s owners to the departmental supervisors in descending order. Your management team business plan can appear more organized by using categories, and your audience will understand how the teams’ qualifications correspond to their positions. If your company has multiple divisions, categories may also be useful.

3. Write the managers name and job title

Finding the manager on their individual profile is the third step. Include their role title and first and last names in your writing. Consider adding their department to distinguish between them if there are multiple managers with the same title. To be more specific, you could write “Assistant Manager, Marketing Department” for various employees with the title “assistant manager.”

4. Describe their employment history

The employment history details prior positions your managers held in the sector. Listing the candidates’ prior positions can support your decision to appoint them as managers if they have experience as organizational leaders. Summarize their responsibilities and projects theyve coordinated in the past. You can also highlight your managers’ achievements in this section, such as awards they have won or helpful things they have done for previous employers.

5. Explain their educational background

The manager profile’s education section covers the institutions your team attended and the degrees they obtained. It can further highlight the manager’s credentials by demonstrating that they have received the necessary training to oversee other team members in your organization. You can also write professional certifications your managers have. For instance, listing a certification in spreadsheet software may impress potential business partners if you run a technology company.

What is a management team business plan?

A management team business plan describes the qualifications and experience of a group of managers in a company. Its goal is to demonstrate to potential investors that the professionals your business has hired are qualified for leadership roles because they have training and experience. It includes details that distinguish your organization from competitors. A potential investor or business partner may be persuaded to provide funding or work with your company if your management team’s business plan impresses them.

Tips for writing a management team business plan

The following three rules will help you gather data and organize your management team business plan:

Incorporate relevant information

Include information that is relevant to their interests in your management profile as a way to attract potential investors. List the qualifications of your leaders in relation to your company and your sector. By including pertinent information, you can demonstrate to potential customers that your team has the managerial skills they need. Be selective when gathering information about your managers to avoid detracting the audience from your goal.

For instance, if you work for a ride-sharing company, you might be looking for partnerships to expand into major cities. You could note in your management team business plan that your executives have experience in customer service, technology, and transportation, three crucial areas that can help the ride-sharing business succeed. The strategy shows potential partners that your team has the expertise to work in the field, encouraging them to collaborate with your company.

Use straightforward wording

Simple language can keep your management team business plan clear and understandable. It’s crucial that customers can understand your company’s organizational structure and which employees are responsible for what tasks. The size of the business and the number of supervisors there are may have an impact on the length of the proposal. But even if your plan is more detailed, keeping your writing simple can help you keep the interest of potential stakeholders. It might be beneficial to reread your sentences and omit any pointless details so that you can convey the key ideas of your message in fewer words.

Clarify information with your team

It may be difficult to include every qualification of an employee on a resume because they are typically one page long. To learn more about your team members’ professional backgrounds, think about speaking with them directly. Find out if they have any additional pertinent information to include in their profile that will appeal to potential customers. Maybe you should mention a gap in their resume or point out that they have more work achievements you can list in their profile. Clarifying details with managers can help you plan the content more effectively and prevent repeating too many details from their resumes.

Example of a management team business plan

You can write a management team business plan that is successful by using the following example of a team member’s profile as a model:

Management Team Member Profile

Jane Stewart, Director of Marketing

The marketing division is headed by Jane Stewart, who is also the coordinator of marketing, social media manager, and graphic designer. Her duties include keeping an eye on social media engagement analytics and creating creative consumer engagement strategies. Stewart graduated from Pine Ridge University with a bachelor’s in marketing and a master’s in business administration. She is professionally certified in social media management and content marketing. Stewart’s previous position was assistant marketing director at full-service advertising agency Oak Wood, where she saw a 25% increase in email and video subscriber numbers.

How do you present a management team in a business plan?

An organizational chart of your small business, including departments, department managers, and employees, should be included in the management team section. Biographical information about you, the owner, and any other owners. Clearly state your ownership stake in the company and your day-to-day responsibilities.

How do you write a management plan for a business plan?

  • Indicate the number of employees your business will require at each stage and their associated costs.
  • Describe the specifics of how your company’s human resource needs can be satisfied.
  • Describe your hiring needs, including a list of the particular skills that any employees you hire must possess.

How important is management team in a business plan?

A strong management team is especially important if you want the company to expand and grow as a whole. A management team is crucial for distributing leadership responsibilities as a business expands. If your business operates in multiple locations, it is essential.

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How to write a business plan in seven simple steps

When written effectively, a business plan can help raise capital, inform decisions, and draw new talent.

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Writing a business plan is often the first step in transforming your business from an idea into something tangible . As you write, your thoughts begin to solidify into strategy, and a path forward starts to emerge. But a business plan is not only the realm of startups; established companies can also benefit from revisiting and rewriting theirs. In any case, the formal documentation can provide the clarity needed to motivate staff , woo investors, or inform future decisions.  

No matter your industry or the size of your team, the task of writing a business plan—a document filled with so much detail and documentation—can feel daunting. Don’t let that stop you, however; there are easy steps to getting started. 

What is a business plan and why does it matter? 

A business plan is a formal document outlining the goals, direction, finances, team, and future planning of your business. It can be geared toward investors, in a bid to raise capital, or used as an internal document to align teams and provide direction. It typically includes extensive market research, competitor analysis, financial documentation, and an overview of your business and marketing strategy. When written effectively, a business plan can help prescribe action and keep business owners on track to meeting business goals. 

Who needs a business plan?

A business plan can be particularly helpful during a company’s initial growth and serve as a guiding force amid the uncertainty, distractions, and at-times rapid developments involved in starting a business . For enterprise companies, a business plan should be a living, breathing document that guides decision-making and facilitates intentional growth.

“You should have a game plan for every major commitment you’ll have, from early-stage founder agreements to onboarding legal professionals,” says Colin Keogh, CEO of the Rapid Foundation—a company that brings technology and training to communities in need—and a WeWork Labs mentor in the UK . “You can’t go out on funding rounds or take part in accelerators without any planning.”

How to make a business plan and seven components every plan needs

While there is no set format for writing a business plan, there are several elements that are typically included. Here’s what’s important to consider when writing your business plan. 

1. Executive summary 

No longer than half a page, the executive summary should briefly introduce your business and describe the purpose of the business plan. Are you writing the plan to attract capital? If so, specify how much money you hope to raise, and how you’re going to repay the loan. If you’re writing the plan to align your team and provide direction, explain at a high level what you hope to achieve with this alignment, as well as the size and state of your existing team.

The executive summary should explain what your business does, and provide an introductory overview of your financial health and major achievements to date.  

2. Company description 

To properly introduce your company, it’s important to also describe the wider industry. What is the financial worth of your market? Are there market trends that will affect the success of your company? What is the state of the industry and its future potential? Use data to support your claims and be sure to include the full gamut of information—both positive and negative—to provide investors and your employees a complete and accurate portrayal of your company’s milieu. 

Go on to describe your company and what it provides your customers. Are you a sole proprietor , LLC, partnership, or corporation? Are you an established company or a budding startup? What does your leadership team look like and how many employees do you have? This section should provide both historical and future context around your business, including its founding story, mission statement , and vision for the future. 

It’s essential to showcase your point of difference in your company description, as well as any advantages you may have in terms of expert talent or leading technology. This is typically one of the first pieces of the plan to be written.

3. Market analysis and opportunity

Research is key in completing a business plan and, ideally, more time should be spent on research and analysis than writing the plan itself. Understanding the size, growth, history, future potential, and current risks inherent to the wider market is essential for the success of your business, and these considerations should be described here. 

In addition to this, it’s important to include research into the target demographic of your product or service. This might be in the form of fictional customer personas, or a broader overview of the income, location, age, gender, and buying habits of your existing and potential customers. 

Though the research should be objective, the analysis in this section is a good place to reiterate your point of difference and the ways you plan to capture the market and surpass your competition.

4. Competitive analysis 

Beyond explaining the elements that differentiate you from your competition, it’s important to provide an in-depth analysis of your competitors themselves.

This research should delve into the operations, financials, history, leadership, and distribution channels of your direct and indirect competitors. It should explore the value propositions of these competitors, and explain the ways you can compete with, or exploit, their strengths and weaknesses. 

5. Execution plan: operations, development, management 

This segment provides details around how you’re going to do the work necessary to fulfill this plan. It should include information about your organizational structure and the everyday operations of your team, contractors, and physical and digital assets.

Consider including your company’s organizational chart, as well as more in-depth information on the leadership team: Who are they? What are their backgrounds? What do they bring to the table? Potentially include the résumés of key people on your team. 

For startups, your execution plan should include how long it will take to begin operations, and then how much longer to reach profitability. For established companies, it’s a good idea to outline how long it will take to execute your plan, and the ways in which you will change existing operations.

If applicable, it’s also beneficial to include your strategy for hiring new team members and scaling into different markets. 

6. Marketing plan 

It’s essential to have a comprehensive marketing plan in place as you scale operations or kick off a new strategy—and this should be shared with your stakeholders and employees. This segment of your business plan should show how you’re going to promote your business, attract customers, and retain existing clients.

Include brand messaging, marketing assets, and the timeline and budget for engaging consumers across different channels. Potentially include a marketing SWOT analysis into your strengths, weaknesses, opportunities, and threats. Evaluate the way your competitors market themselves, and how your target audience responds—or doesn’t respond—to these messages.

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7. Financial history and projections  

It’s essential to disclose all finances involved in running your company within your business plan. This is so your shareholders properly understand how you’re projected to perform going forward, and the progress you’ve made so far. 

You should include your income statement, which outlines annual net profits or losses; a cash flow statement, which shows how much money you need to launch or scale operations; and a balance sheet that shows financial liabilities and assets. 

“An income statement is the measure of your financial results for a certain period and the most accurate report of business activities during that time, [whereas a balance sheet] presents your assets, liabilities, and equity,” Amit Perry, a corporate finance expert, explained at a WeWork Labs educational session in Israel.

It’s crucial to understand the terms correctly so you know how to present your finances when you’re speaking to investors. Amit Perry, CEO and founder of Perryllion Ltd.

In addition, if you’re asking for funding, you will need to outline exactly how much money you need as well as where this money will go and how you plan to pay it back. 

12 quick tips for writing a business plan 

Now that you know what components are traditionally included in a business plan, it’s time to consider how you’ll actually construct the document.

Here are 12 key factors to keep in mind when writing a business plan. These overarching principles will help you write a business plan that serves its purpose (whatever that may be) and becomes an easy reference in the years ahead. 

1. Don’t be long-winded

Use clear, concise language and avoid jargon. When business plans are too long-winded, they’re less likely to be used as intended and more likely to be forgotten or glazed over by stakeholders. 

2. Show why you care

Let your passion for your business shine through; show employees and investors why you care (and why they should too). 

3. Provide supporting documents

Don’t be afraid to have an extensive list of appendices, including the CVs of team members, built-out customer personas, product demonstrations, and examples of internal or external messaging. 

4. Reference data

All information regarding the market, your competitors, and your customers should reference authoritative and relevant data points.  

5. Research, research, research

The research that goes into your business plan should take you longer than the writing itself. Consider tracking your research as supporting documentation. 

6. Clearly demonstrate your points of difference

At every opportunity, it’s important to drive home the way your product or service differentiates you from your competition and helps solve a problem for your target audience. Don’t shy away from reiterating these differentiating factors throughout the plan. 

7. Be objective in your research

As important as it is to showcase your company and the benefits you provide your customers, it’s also important to be objective in the data and research you reference. Showcase the good and the bad when it comes to market research and your financials; you want your shareholders to know you’ve thought through every possible contingency. 

8. Know the purpose of your plan

It’s important you understand the purpose of your plan before you begin researching and writing. Be clear about whether you’re writing this plan to attract investment, align teams, or provide direction. 

9. Identify your audience

The same way your business plan must have a clearly defined purpose, you must have a clearly defined audience. To whom are you writing? New investors? Current employees? Potential collaborators? Existing shareholders? 

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10. Avoid jargon

Avoid using industry-specific jargon, unless completely unavoidable, and try making your business plan as easy to understand as possible—for all potential stakeholders. 

11. Don’t be afraid to change it

Your business plan should evolve with your company’s growth, which means your business plan document should evolve as well. Revisit and rework your business plan as needed, and remember the most important factor: having a plan in place, even if it changes.

A business plan shouldn’t just be a line on your to-do list; it should be referenced and used as intended going forward. Keep your business plan close, and use it to inform decisions and guide your team in the years ahead. 

Creating a business plan is an important step in growing your company 

Whether you’re just starting out or running an existing operation, writing an effective business plan can be a key predictor of future success. It can be a foundational document from which you grow and thrive . It can serve as a constant reminder to employees and clients about what you stand for, and the direction in which you’re moving. Or, it can prove to investors that your business, team, and vision are worth their investment. 

No matter the size or stage of your business, WeWork can help you fulfill the objectives outlined in your business plan—and WeWork’s coworking spaces can be a hotbed for finding talent and investors, too. The benefits of coworking spaces include intentionally designed lounges, conference rooms, and private offices that foster connection and bolster creativity, while a global network of professionals allows you to expand your reach and meet new collaborators. 

Using these steps to write a business plan will put you in good stead to not only create a document that fulfills a purpose but one that also helps to more clearly understand your market, competition, point of difference, and plan for the future. 

For more tips on growing teams and building a business, check out all our articles on  Ideas by WeWork.

Caitlin Bishop is a writer for WeWork’s  Ideas by WeWork , based in New York City. Previously, she was a journalist and editor at  Mamamia  in Sydney, Australia, and a contributing reporter at  Gotham Gazette .

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How to Write a Business Plan, Step by Step

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What is a business plan?

1. write an executive summary, 2. describe your company, 3. state your business goals, 4. describe your products and services, 5. do your market research, 6. outline your marketing and sales plan, 7. perform a business financial analysis, 8. make financial projections, 9. summarize how your company operates, 10. add any additional information to an appendix, business plan tips and resources.

A business plan outlines your business’s financial goals and explains how you’ll achieve them over the next three to five years. Here’s a step-by-step guide to writing a business plan that will offer a strong, detailed road map for your business.

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A business plan is a document that explains what your business does, how it makes money and who its customers are. Internally, writing a business plan should help you clarify your vision and organize your operations. Externally, you can share it with potential lenders and investors to show them you’re on the right track.

Business plans are living documents; it’s OK for them to change over time. Startups may update their business plans often as they figure out who their customers are and what products and services fit them best. Mature companies might only revisit their business plan every few years. Regardless of your business’s age, brush up this document before you apply for a business loan .

» Need help writing? Learn about the best business plan software .

This is your elevator pitch. It should include a mission statement, a brief description of the products or services your business offers and a broad summary of your financial growth plans.

Though the executive summary is the first thing your investors will read, it can be easier to write it last. That way, you can highlight information you’ve identified while writing other sections that go into more detail.

» MORE: How to write an executive summary in 6 steps

Next up is your company description. This should contain basic information like:

Your business’s registered name.

Address of your business location .

Names of key people in the business. Make sure to highlight unique skills or technical expertise among members of your team.

Your company description should also define your business structure — such as a sole proprietorship, partnership or corporation — and include the percent ownership that each owner has and the extent of each owner’s involvement in the company.

Lastly, write a little about the history of your company and the nature of your business now. This prepares the reader to learn about your goals in the next section.

» MORE: How to write a company overview for a business plan

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The third part of a business plan is an objective statement. This section spells out what you’d like to accomplish, both in the near term and over the coming years.

If you’re looking for a business loan or outside investment, you can use this section to explain how the financing will help your business grow and how you plan to achieve those growth targets. The key is to provide a clear explanation of the opportunity your business presents to the lender.

For example, if your business is launching a second product line, you might explain how the loan will help your company launch that new product and how much you think sales will increase over the next three years as a result.

» MORE: How to write a successful business plan for a loan

In this section, go into detail about the products or services you offer or plan to offer.

You should include the following:

An explanation of how your product or service works.

The pricing model for your product or service.

The typical customers you serve.

Your supply chain and order fulfillment strategy.

You can also discuss current or pending trademarks and patents associated with your product or service.

Lenders and investors will want to know what sets your product apart from your competition. In your market analysis section , explain who your competitors are. Discuss what they do well, and point out what you can do better. If you’re serving a different or underserved market, explain that.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

Include details about your sales and distribution strategies, including the costs involved in selling each product .

» MORE: R e a d our complete guide to small business marketing

If you’re a startup, you may not have much information on your business financials yet. However, if you’re an existing business, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.

Accounting software may be able to generate these reports for you. It may also help you calculate metrics such as:

Net profit margin: the percentage of revenue you keep as net income.

Current ratio: the measurement of your liquidity and ability to repay debts.

Accounts receivable turnover ratio: a measurement of how frequently you collect on receivables per year.

This is a great place to include charts and graphs that make it easy for those reading your plan to understand the financial health of your business.

This is a critical part of your business plan if you’re seeking financing or investors. It outlines how your business will generate enough profit to repay the loan or how you will earn a decent return for investors.

Here, you’ll provide your business’s monthly or quarterly sales, expenses and profit estimates over at least a three-year period — with the future numbers assuming you’ve obtained a new loan.

Accuracy is key, so carefully analyze your past financial statements before giving projections. Your goals may be aggressive, but they should also be realistic.

NerdWallet’s picks for setting up your business finances:

The best business checking accounts .

The best business credit cards .

The best accounting software .

Before the end of your business plan, summarize how your business is structured and outline each team’s responsibilities. This will help your readers understand who performs each of the functions you’ve described above — making and selling your products or services — and how much each of those functions cost.

If any of your employees have exceptional skills, you may want to include their resumes to help explain the competitive advantage they give you.

Finally, attach any supporting information or additional materials that you couldn’t fit in elsewhere. That might include:

Licenses and permits.

Equipment leases.

Bank statements.

Details of your personal and business credit history, if you’re seeking financing.

If the appendix is long, you may want to consider adding a table of contents at the beginning of this section.

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Here are some tips to write a detailed, convincing business plan:

Avoid over-optimism: If you’re applying for a business bank loan or professional investment, someone will be reading your business plan closely. Providing unreasonable sales estimates can hurt your chances of approval.

Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors. If writing and editing aren't your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.

Use free resources: SCORE is a nonprofit association that offers a large network of volunteer business mentors and experts who can help you write or edit your business plan. The U.S. Small Business Administration’s Small Business Development Centers , which provide free business consulting and help with business plan development, can also be a resource.

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, how often should a business plan be updated, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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A business plan is a document that details a company's goals and how it intends to achieve them. Business plans can be of benefit to both startups and well-established companies. For startups, a business plan can be essential for winning over potential lenders and investors. Established businesses can find one useful for staying on track and not losing sight of their goals. This article explains what an effective business plan needs to include and how to write one.

Key Takeaways

  • A business plan is a document describing a company's business activities and how it plans to achieve its goals.
  • Startup companies use business plans to get off the ground and attract outside investors.
  • For established companies, a business plan can help keep the executive team focused on and working toward the company's short- and long-term objectives.
  • There is no single format that a business plan must follow, but there are certain key elements that most companies will want to include.

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Any new business should have a business plan in place prior to beginning operations. In fact, banks and venture capital firms often want to see a business plan before they'll consider making a loan or providing capital to new businesses.

Even if a business isn't looking to raise additional money, a business plan can help it focus on its goals. A 2017 Harvard Business Review article reported that, "Entrepreneurs who write formal plans are 16% more likely to achieve viability than the otherwise identical nonplanning entrepreneurs."

Ideally, a business plan should be reviewed and updated periodically to reflect any goals that have been achieved or that may have changed. An established business that has decided to move in a new direction might create an entirely new business plan for itself.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. These include being able to think through ideas before investing too much money in them and highlighting any potential obstacles to success. A company might also share its business plan with trusted outsiders to get their objective feedback. In addition, a business plan can help keep a company's executive team on the same page about strategic action items and priorities.

Business plans, even among competitors in the same industry, are rarely identical. However, they often have some of the same basic elements, as we describe below.

While it's a good idea to provide as much detail as necessary, it's also important that a business plan be concise enough to hold a reader's attention to the end.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, it's best to fit the basic information into a 15- to 25-page document. Other crucial elements that take up a lot of space—such as applications for patents—can be referenced in the main document and attached as appendices.

These are some of the most common elements in many business plans:

  • Executive summary: This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
  • Products and services: Here, the company should describe the products and services it offers or plans to introduce. That might include details on pricing, product lifespan, and unique benefits to the consumer. Other factors that could go into this section include production and manufacturing processes, any relevant patents the company may have, as well as proprietary technology . Information about research and development (R&D) can also be included here.
  • Market analysis: A company needs to have a good handle on the current state of its industry and the existing competition. This section should explain where the company fits in, what types of customers it plans to target, and how easy or difficult it may be to take market share from incumbents.
  • Marketing strategy: This section can describe how the company plans to attract and keep customers, including any anticipated advertising and marketing campaigns. It should also describe the distribution channel or channels it will use to get its products or services to consumers.
  • Financial plans and projections: Established businesses can include financial statements, balance sheets, and other relevant financial information. New businesses can provide financial targets and estimates for the first few years. Your plan might also include any funding requests you're making.

The best business plans aren't generic ones created from easily accessed templates. A company should aim to entice readers with a plan that demonstrates its uniqueness and potential for success.

2 Types of Business Plans

Business plans can take many forms, but they are sometimes divided into two basic categories: traditional and lean startup. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

  • Traditional business plans : These plans tend to be much longer than lean startup plans and contain considerably more detail. As a result they require more work on the part of the business, but they can also be more persuasive (and reassuring) to potential investors.
  • Lean startup business plans : These use an abbreviated structure that highlights key elements. These business plans are short—as short as one page—and provide only the most basic detail. If a company wants to use this kind of plan, it should be prepared to provide more detail if an investor or a lender requests it.

Why Do Business Plans Fail?

A business plan is not a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections to begin with. Markets and the overall economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All of this calls for building some flexibility into your plan, so you can pivot to a new course if needed.

How frequently a business plan needs to be revised will depend on the nature of the business. A well-established business might want to review its plan once a year and make changes if necessary. A new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is an option when a company prefers to give a quick explanation of its business. For example, a brand-new company may feel that it doesn't have a lot of information to provide yet.

Sections can include: a value proposition ; the company's major activities and advantages; resources such as staff, intellectual property, and capital; a list of partnerships; customer segments; and revenue sources.

A business plan can be useful to companies of all kinds. But as a company grows and the world around it changes, so too should its business plan. So don't think of your business plan as carved in granite but as a living document designed to evolve with your business.

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

U.S. Small Business Administration. " Write Your Business Plan ."

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Writing a Business Growth Plan

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Table of Contents

When you run a business, it’s easy to get caught in the moment and focus only on the day in front of you. However, to be truly successful, you must look ahead and plan for growth. Many business owners create a business growth plan to map out the next one or two years and pinpoint how and when revenues will increase. 

We’ll explain more about business growth plans and share strategies for writing a business growth plan that can set you on a path to success. 

What is a business growth plan?

A business growth plan outlines where a company sees itself in the next one to two years. Business owners and leaders apply a growth mindset to create plans for expansion and increased revenues.

Business growth plans should be formatted quarterly. At the end of each quarter, the company can review the business goals it achieved and missed during that period. At this point, management can revise the business growth plan to reflect the current market standing.

What to include in a business growth plan

A business growth plan focuses specifically on expansion and how you’ll achieve it. Creating a useful plan takes time, but keeping your growth efforts on track can pay off substantially.

You should include the following elements in your growth plan:

  • A description of expansion opportunities
  • Financial goals broken down by quarter and year
  • A marketing plan that details how you’ll achieve growth
  • A financial plan to determine what capital is accessible during growth
  • A breakdown of your company’s staffing needs and responsibilities

Your growth plan should also include an assessment of your operating systems and computer networks to determine if they can accommodate profitable growth .

How to write a business growth plan

To successfully write a business growth plan, you must do some forward-thinking and research. Here are some key steps to follow when writing your business growth plan.

1. Think ahead.

The future is always unpredictable. However, if you study your target market, your competition and your company’s past growth, you can plan for future expansion. The Small Business Administration (SBA) features a comprehensive guide to writing a business plan for growth.

2. Study other growth plans.

Before you start writing, review models from successful companies.

3. Discover opportunities for growth.

With some homework, you can determine if your expansion opportunities lie in creating new products , adding more services, targeting a new market, opening new business locations or going global, to name a few examples. Once you’ve identified your best options for growth, include them in your plan.

4. Evaluate your team.

Your plan should include an assessment of your employees and a look at staffing requirements to meet your growth objectives. By assessing your own skills and those of your employees, you can determine how much growth can be accomplished with your present team. You’ll also know when to ramp up the hiring process and what skill sets to look for in those new hires.

5. Find the capital.

Include detailed information on how you will fund expansion. Business.gov offers a guide on how to prepare funding requests and how to connect with SBA lenders.

6. Get the word out.

Growing your business requires a targeted marketing effort. Be sure to outline how you will effectively market your business to encourage growth and how your marketing efforts will evolve as you grow.

7. Ask for help.

Advice from other business owners who have enjoyed successful growth can be the ultimate tool in writing your growth plan.

8. Start writing.

Business plan software has streamlined the process of writing growth plans by providing templates you can fill in with information specific to your company and industry. Most software programs are geared toward general business plans; however, you can easily modify them to create a plan that focuses on growth. 

If you don’t have business plan software, don’t worry. You can create a business growth plan using Microsoft Word, Google Docs or a similar tool. For each growth opportunity, create the following sections: 

  • What is the opportunity? Is your growth opportunity a new geographic expansion, a new product or a new customer segment? How do you know there’s an opportunity? Include your market research to demonstrate the idea’s viability.
  • What factors make this opportunity valuable at this time? For example, your growth opportunity could utilize new technology, take advantage of a strategic partnership or capitalize on a consumer trend.
  • What are the risk factors for this opportunity? Identify factors that may make this growth opportunity challenging to execute. For example, challenges may include the state of the overall economy, intense competition or supply chain distribution issues. What is your plan for dealing with these challenges?
  • What is your marketing and sales plan? Identify the marketing efforts and sales processes that can help you seize this growth opportunity. Detail the marketing channel you’ll use ( social media marketing , print marketing), your message and promising sales ideas. For example, you could hire sales reps for a new geographic area or set up distribution deals with relevant brick-and-mortar or online retailers .
  • What are the costs involved in this growth area? For example, if you add a new product, you may need to buy new manufacturing equipment and raw materials. While marketing costs are a given, remember to include incremental sales costs like commissions. Outline any economies of scale or places where your existing operations make the new growth area less expensive than a stand-alone initiative.
  • How will your income, expenses and cash flow look? Project your income and expenses, and prepare a cash flow statement for the new growth area for the next three to five years. Include a break-even analysis, a sales forecast and all projected expenses to see how much the new initiative will add to the bottom line. Include how the new growth area will positively (or negatively) impact existing sales. For example, if you sell bathing suits and you decide to grow by adding cover-ups and sunglasses, you will likely sell more bathing suits. 

A cash flow statement will indicate if you must secure additional financing, and a break-even analysis will let you know when the growth opportunity will stop being a drain on the company’s financial resources and start turning a profit.

After completing this exercise for each growth opportunity:

  • Create a summary that accounts for all growth areas for the period.
  • Include summarized financial statements to see the entire picture and its impact on the company. 
  • Evaluate the financing you’ll need to implement the plan, and include various options and rates. 

Why are business growth plans important?

These are some of the many reasons why business growth plans are essential:

  • Market share and penetration: If your market share remains constant in a world where costs consistently increase, you’ll inevitably start recording losses instead of profits. Business growth plans help you avoid this scenario.
  • Recouping early losses: Most companies lose far more than they earn in their early years. To recoup these losses, you’ll need to grow your company to a point where it can make enough revenue to pay off your debts.
  • Future risk minimization: Growth plans also matter for established businesses. These companies can always stand to make their sales more efficient and become more liquid. Liquidity can come in handy if you need money to cover unexpected problems.
  • Appealing to investors: For most businesses, a business growth plan’s primary purpose is to find investors . Investors want to outline your company’s plans to build sales in the coming months.
  • Concrete revenue plans: Growth plans are customizable to each business and don’t have to follow a set template. However, all business growth plans must focus heavily on revenue. The plan should answer a simple question: How does your company plan to make money each quarter?

Motivate your employees by sharing your growth plan. When employees see an opportunity for increased responsibility and compensation, they’re more likely to stay with your business.

What factors impact business growth?

Consider the following crucial factors that can impact business growth:

  • Leadership: To achieve your goals, you must know the ins and outs of your business processes and how external forces impact them. Without this knowledge, you can’t direct and train your team to drive your revenue, and you will experience stagnation instead of growth.
  • Management: As a small business owner, you’re innately involved in management – obtaining funding, resources, and physical and digital infrastructure. Ineffective management will impact your ability to perform these duties and could hamstring your growth.
  • Customer loyalty: Acquiring new customers can be five times as expensive as retaining current ones, and a 5 percent boost in customer retention can increase profits by 25 percent to 95 percent. These statistics demonstrate that customer loyalty is fundamental to business growth.

What are the four major growth strategies?

There are countless growth strategies for businesses, but only four primary types. With these growth strategies, you can determine how to build on your brand.

  • Market strategy: A market strategy refers to how you plan to penetrate your target audience . This strategy isn’t intended for entering a new market or creating new products and services to boost your market share; it’s about leveraging your current offerings. For instance, can you adjust your pricing? Should you launch a new marketing campaign?
  • Development strategy: This strategy means looking into ways to break your products and services into a new market. If you can’t find the growth you want in the current market, a goal could be to expand to a new market.
  • Product strategy: Also known as “product development,” this strategy focuses on what new products and services you can target to your current market. How can you grow your business without entering new markets? What are your customers asking for?
  • Diversification strategy: Diversification means expanding both your products and target markets. This strategy is usually best for smaller companies that have the means to be versatile with the products or services they offer and what new markets they attempt to penetrate.

Max Freedman contributed to this article.

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  • What is strategic planning? A 5-step gu ...

What is strategic planning? A 5-step guide

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Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. In this article, we'll guide you through the strategic planning process, including why it's important, the benefits and best practices, and five steps to get you from beginning to end.

Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. The strategic planning process informs your organization’s decisions, growth, and goals.

Strategic planning helps you clearly define your company’s long-term objectives—and maps how your short-term goals and work will help you achieve them. This, in turn, gives you a clear sense of where your organization is going and allows you to ensure your teams are working on projects that make the most impact. Think of it this way—if your goals and objectives are your destination on a map, your strategic plan is your navigation system.

In this article, we walk you through the 5-step strategic planning process and show you how to get started developing your own strategic plan.

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What is strategic planning?

Strategic planning is a business process that helps you define and share the direction your company will take in the next three to five years. During the strategic planning process, stakeholders review and define the organization’s mission and goals, conduct competitive assessments, and identify company goals and objectives. The product of the planning cycle is a strategic plan, which is shared throughout the company.

What is a strategic plan?

[inline illustration] Strategic plan elements (infographic)

A strategic plan is the end result of the strategic planning process. At its most basic, it’s a tool used to define your organization’s goals and what actions you’ll take to achieve them.

Typically, your strategic plan should include: 

Your company’s mission statement

Your organizational goals, including your long-term goals and short-term, yearly objectives

Any plan of action, tactics, or approaches you plan to take to meet those goals

What are the benefits of strategic planning?

Strategic planning can help with goal setting and decision-making by allowing you to map out how your company will move toward your organization’s vision and mission statements in the next three to five years. Let’s circle back to our map metaphor. If you think of your company trajectory as a line on a map, a strategic plan can help you better quantify how you’ll get from point A (where you are now) to point B (where you want to be in a few years).

When you create and share a clear strategic plan with your team, you can:

Build a strong organizational culture by clearly defining and aligning on your organization’s mission, vision, and goals.

Align everyone around a shared purpose and ensure all departments and teams are working toward a common objective.

Proactively set objectives to help you get where you want to go and achieve desired outcomes.

Promote a long-term vision for your company rather than focusing primarily on short-term gains.

Ensure resources are allocated around the most high-impact priorities.

Define long-term goals and set shorter-term goals to support them.

Assess your current situation and identify any opportunities—or threats—allowing your organization to mitigate potential risks.

Create a proactive business culture that enables your organization to respond more swiftly to emerging market changes and opportunities.

What are the 5 steps in strategic planning?

The strategic planning process involves a structured methodology that guides the organization from vision to implementation. The strategic planning process starts with assembling a small, dedicated team of key strategic planners—typically five to 10 members—who will form the strategic planning, or management, committee. This team is responsible for gathering crucial information, guiding the development of the plan, and overseeing strategy execution.

Once you’ve established your management committee, you can get to work on the planning process. 

Step 1: Assess your current business strategy and business environment

Before you can define where you’re going, you first need to define where you are. Understanding the external environment, including market trends and competitive landscape, is crucial in the initial assessment phase of strategic planning.

To do this, your management committee should collect a variety of information from additional stakeholders, like employees and customers. In particular, plan to gather:

Relevant industry and market data to inform any market opportunities, as well as any potential upcoming threats in the near future.

Customer insights to understand what your customers want from your company—like product improvements or additional services.

Employee feedback that needs to be addressed—whether about the product, business practices, or the day-to-day company culture.

Consider different types of strategic planning tools and analytical techniques to gather this information, such as:

A balanced scorecard to help you evaluate four major elements of a business: learning and growth, business processes, customer satisfaction, and financial performance.

A SWOT analysis to help you assess both current and future potential for the business (you’ll return to this analysis periodically during the strategic planning process). 

To fill out each letter in the SWOT acronym, your management committee will answer a series of questions:

What does your organization currently do well?

What separates you from your competitors?

What are your most valuable internal resources?

What tangible assets do you have?

What is your biggest strength? 

Weaknesses:

What does your organization do poorly?

What do you currently lack (whether that’s a product, resource, or process)?

What do your competitors do better than you?

What, if any, limitations are holding your organization back?

What processes or products need improvement? 

Opportunities:

What opportunities does your organization have?

How can you leverage your unique company strengths?

Are there any trends that you can take advantage of?

How can you capitalize on marketing or press opportunities?

Is there an emerging need for your product or service? 

What emerging competitors should you keep an eye on?

Are there any weaknesses that expose your organization to risk?

Have you or could you experience negative press that could reduce market share?

Is there a chance of changing customer attitudes towards your company? 

Step 2: Identify your company’s goals and objectives

To begin strategy development, take into account your current position, which is where you are now. Then, draw inspiration from your vision, mission, and current position to identify and define your goals—these are your final destination. 

To develop your strategy, you’re essentially pulling out your compass and asking, “Where are we going next?” “What’s the ideal future state of this company?” This can help you figure out which path you need to take to get there.

During this phase of the planning process, take inspiration from important company documents, such as:

Your mission statement, to understand how you can continue moving towards your organization’s core purpose.

Your vision statement, to clarify how your strategic plan fits into your long-term vision.

Your company values, to guide you towards what matters most towards your company.

Your competitive advantages, to understand what unique benefit you offer to the market.

Your long-term goals, to track where you want to be in five or 10 years.

Your financial forecast and projection, to understand where you expect your financials to be in the next three years, what your expected cash flow is, and what new opportunities you will likely be able to invest in.

Step 3: Develop your strategic plan and determine performance metrics

Now that you understand where you are and where you want to go, it’s time to put pen to paper. Take your current business position and strategy into account, as well as your organization’s goals and objectives, and build out a strategic plan for the next three to five years. Keep in mind that even though you’re creating a long-term plan, parts of your plan should be created or revisited as the quarters and years go on.

As you build your strategic plan, you should define:

Company priorities for the next three to five years, based on your SWOT analysis and strategy.

Yearly objectives for the first year. You don’t need to define your objectives for every year of the strategic plan. As the years go on, create new yearly objectives that connect back to your overall strategic goals . 

Related key results and KPIs. Some of these should be set by the management committee, and some should be set by specific teams that are closer to the work. Make sure your key results and KPIs are measurable and actionable. These KPIs will help you track progress and ensure you’re moving in the right direction.

Budget for the next year or few years. This should be based on your financial forecast as well as your direction. Do you need to spend aggressively to develop your product? Build your team? Make a dent with marketing? Clarify your most important initiatives and how you’ll budget for those.

A high-level project roadmap . A project roadmap is a tool in project management that helps you visualize the timeline of a complex initiative, but you can also create a very high-level project roadmap for your strategic plan. Outline what you expect to be working on in certain quarters or years to make the plan more actionable and understandable.

Step 4: Implement and share your plan

Now it’s time to put your plan into action. Strategy implementation involves clear communication across your entire organization to make sure everyone knows their responsibilities and how to measure the plan’s success. 

Make sure your team (especially senior leadership) has access to the strategic plan, so they can understand how their work contributes to company priorities and the overall strategy map. We recommend sharing your plan in the same tool you use to manage and track work, so you can more easily connect high-level objectives to daily work. If you don’t already, consider using a work management platform .  

A few tips to make sure your plan will be executed without a hitch: 

Communicate clearly to your entire organization throughout the implementation process, to ensure all team members understand the strategic plan and how to implement it effectively. 

Define what “success” looks like by mapping your strategic plan to key performance indicators.

Ensure that the actions outlined in the strategic plan are integrated into the daily operations of the organization, so that every team member's daily activities are aligned with the broader strategic objectives.

Utilize tools and software—like a work management platform—that can aid in implementing and tracking the progress of your plan.

Regularly monitor and share the progress of the strategic plan with the entire organization, to keep everyone informed and reinforce the importance of the plan.

Establish regular check-ins to monitor the progress of your strategic plan and make adjustments as needed. 

Step 5: Revise and restructure as needed

Once you’ve created and implemented your new strategic framework, the final step of the planning process is to monitor and manage your plan.

Remember, your strategic plan isn’t set in stone. You’ll need to revisit and update the plan if your company changes directions or makes new investments. As new market opportunities and threats come up, you’ll likely want to tweak your strategic plan. Make sure to review your plan regularly—meaning quarterly and annually—to ensure it’s still aligned with your organization’s vision and goals.

Keep in mind that your plan won’t last forever, even if you do update it frequently. A successful strategic plan evolves with your company’s long-term goals. When you’ve achieved most of your strategic goals, or if your strategy has evolved significantly since you first made your plan, it might be time to create a new one.

Build a smarter strategic plan with a work management platform

To turn your company strategy into a plan—and ultimately, impact—make sure you’re proactively connecting company objectives to daily work. When you can clarify this connection, you’re giving your team members the context they need to get their best work done. 

A work management platform plays a pivotal role in this process. It acts as a central hub for your strategic plan, ensuring that every task and project is directly tied to your broader company goals. This alignment is crucial for visibility and coordination, allowing team members to see how their individual efforts contribute to the company’s success. 

By leveraging such a platform, you not only streamline workflow and enhance team productivity but also align every action with your strategic objectives—allowing teams to drive greater impact and helping your company move toward goals more effectively. 

Strategic planning FAQs

Still have questions about strategic planning? We have answers.

Why do I need a strategic plan?

A strategic plan is one of many tools you can use to plan and hit your goals. It helps map out strategic objectives and growth metrics that will help your company be successful.

When should I create a strategic plan?

You should aim to create a strategic plan every three to five years, depending on your organization’s growth speed.

Since the point of a strategic plan is to map out your long-term goals and how you’ll get there, you should create a strategic plan when you’ve met most or all of them. You should also create a strategic plan any time you’re going to make a large pivot in your organization’s mission or enter new markets. 

What is a strategic planning template?

A strategic planning template is a tool organizations can use to map out their strategic plan and track progress. Typically, a strategic planning template houses all the components needed to build out a strategic plan, including your company’s vision and mission statements, information from any competitive analyses or SWOT assessments, and relevant KPIs.

What’s the difference between a strategic plan vs. business plan?

A business plan can help you document your strategy as you’re getting started so every team member is on the same page about your core business priorities and goals. This tool can help you document and share your strategy with key investors or stakeholders as you get your business up and running.

You should create a business plan when you’re: 

Just starting your business

Significantly restructuring your business

If your business is already established, you should create a strategic plan instead of a business plan. Even if you’re working at a relatively young company, your strategic plan can build on your business plan to help you move in the right direction. During the strategic planning process, you’ll draw from a lot of the fundamental business elements you built early on to establish your strategy for the next three to five years.

What’s the difference between a strategic plan vs. mission and vision statements?

Your strategic plan, mission statement, and vision statements are all closely connected. In fact, during the strategic planning process, you will take inspiration from your mission and vision statements in order to build out your strategic plan.

Simply put: 

A mission statement summarizes your company’s purpose.

A vision statement broadly explains how you’ll reach your company’s purpose.

A strategic plan pulls in inspiration from your mission and vision statements and outlines what actions you’re going to take to move in the right direction. 

For example, if your company produces pet safety equipment, here’s how your mission statement, vision statement, and strategic plan might shake out:

Mission statement: “To ensure the safety of the world’s animals.” 

Vision statement: “To create pet safety and tracking products that are effortless to use.” 

Your strategic plan would outline the steps you’re going to take in the next few years to bring your company closer to your mission and vision. For example, you develop a new pet tracking smart collar or improve the microchipping experience for pet owners. 

What’s the difference between a strategic plan vs. company objectives?

Company objectives are broad goals. You should set these on a yearly or quarterly basis (if your organization moves quickly). These objectives give your team a clear sense of what you intend to accomplish for a set period of time. 

Your strategic plan is more forward-thinking than your company goals, and it should cover more than one year of work. Think of it this way: your company objectives will move the needle towards your overall strategy—but your strategic plan should be bigger than company objectives because it spans multiple years.

What’s the difference between a strategic plan vs. a business case?

A business case is a document to help you pitch a significant investment or initiative for your company. When you create a business case, you’re outlining why this investment is a good idea, and how this large-scale project will positively impact the business. 

You might end up building business cases for things on your strategic plan’s roadmap—but your strategic plan should be bigger than that. This tool should encompass multiple years of your roadmap, across your entire company—not just one initiative.

What’s the difference between a strategic plan vs. a project plan?

A strategic plan is a company-wide, multi-year plan of what you want to accomplish in the next three to five years and how you plan to accomplish that. A project plan, on the other hand, outlines how you’re going to accomplish a specific project. This project could be one of many initiatives that contribute to a specific company objective which, in turn, is one of many objectives that contribute to your strategic plan. 

What’s the difference between strategic management vs. strategic planning?

A strategic plan is a tool to define where your organization wants to go and what actions you need to take to achieve those goals. Strategic planning is the process of creating a plan in order to hit your strategic objectives.

Strategic management includes the strategic planning process, but also goes beyond it. In addition to planning how you will achieve your big-picture goals, strategic management also helps you organize your resources and figure out the best action plans for success. 

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How To Build Team Culture at Your Company

Saphia Lanier

Updated: March 11, 2024

Published: July 17, 2023

What comes to mind when you hear of team culture? A Ping-Pong table, bottomless coffee, Andy Warhol-inspired pop art, or Karaoke Thursdays at the office?

How to build team culture

While these perks are great and represent part of what your employees care about, they’re not a substitute for strong team culture. A healthy team culture gives your employees purpose, while also aligning them to work toward accomplishing company goals. 

What is team culture?

Team culture is a combination of shared beliefs, values, common goals, attitudes, and behavioral norms among employees who work at a company. Like a society’s culture, team culture is supported by individual members and defines and shapes the work environment.

In an interview with Time magazine , Cynt Marshall, CEO of the Dallas Mavericks, said, “The key thing is the behaviors and attitudes that people have about the workplace, about each other, about how they treat people, about how they make decisions, about acceptable behavior in the workplaces.”

While putting together a strong team is important, building a winning team culture takes time and effort and is critical to your company’s success.

Why is team culture important?

A recent report from MIT Sloan Management Review found that toxic culture is 10.4 times more likely to push employees out the door than a nontoxic work environment, leaving businesses struggling.

Here are a few reasons you should strive to build a healthy company culture in your company:

  • Employee retention : As mentioned above, team culture impacts employee retention as it determines whether you’ll attract top talent or lose your best workers.
  • Higher engagement and productivity : When employees are excited about your team culture, they’re more likely to be engaged. Gallup found employee engagement leads to improved business outcomes, including 14% higher employee productivity and 23% greater profitability.
  • Fewer interpersonal conflicts : A good team culture promotes cohesiveness among employees and has conflict-resolution safeguards to reduce friction so everyone feels welcome and valued.

After Sports Illustrated ’s exposé on the internal abuse and harassment in the Dallas Mavericks organization, billionaire Mark Cuban — who owns the team — knew he had a culture problem.

Cuban believed only a strong and well-aligned team culture could consistently lead to the organization’s success. So he hired Marshall to run the Mavericks and fix its corrosive culture. Within 100 days, Marshall turned around the team’s culture, leading the organization through an unprecedented, turbulent moment.

Team culture examples

If you’re looking for inspiration for your team culture, here are a couple of examples of brands with enviable company cultures .

Studocu — an edtech platform — boasts a positive team culture with a family-like atmosphere focusing on the fun and social aspects of building a company together.

“We always have lunch all together, share our learnings and best practices of the week on Fridays, after which we end the week together with a drink,” says Marnix Broer, co-founder and CEO of Studocu.

To maintain this team culture and ensure its team excels, Studocu:

  • Holds team-building activities, such as social events, celebrations, hackathons, and an annual company wide trip
  • Has a continuous (360) feedback system to give and receive feedback all year round 
  • Offers generous Learning & Development (L&D) budgets
  • Distributes ownership and authority to employees to execute good, data-backed ideas
  • Created an open environment for continuous learning from successes and mistakes
  • Embedded “company fit” into its hiring process so new team members feel welcome and fit into their new teams

Because of these efforts, the Studocu team graded “Teamwork & Ownership” with 82% in the company’s last engagement survey.

Warby Parker

Designer eyewear brand Warby Parker’s team culture prioritizes employee growth, team engagement, open communication, and emotional connections. Several factors contribute to its successful culture, such as:

  • An inclusive employee training and onboarding process: Team members from different levels and departments ensure each employee feels valued and comfortable. This promotes cross-team collaboration, fosters strong relationships, and builds a closely knit team.
  • Peer-to-peer relationships: Existing employees reach out and connect with new hires to create opportunities for introductions and spark conversations for easier integration into the team.
  • Leveraging the company’s mission: Warby Parker’s mission creates a shared sense of purpose among employees and attracts like-minded individuals with a shared commitment to its values.
  • Open and honest communication: Warby Parker’s feedback culture conducted through quarterly 360 reviews creates a transparent and supportive environment for employee development and continuous learning.
  • Embracing vulnerability and connection: By introducing new hires during all-hands meetings, Warby Parker encourages trust, openness, and collaboration while building strong relationships and a sense of unity.

How to build team culture at your company

So how can you build an effective team culture? Here are five key strategies to help you get there.

1. Build and live core values

Part of what makes your team culture unique is what you bring to the table — including your core values.

Instead of picking or imposing values as a leadership team, hold a team brainstorming event and co-create with your employees on cultural values they believe in. Depending on the stage your company is at, this can mean rethinking, redefining, or building new values altogether. You’ll automatically gain buy-in and increase team morale.

When Marshall joined the Mavericks team, there were no values for workers to operate under. To fix this, she:

  • Laid out a vision for the organization and a set of values.
  • Spent time one on one with people.
  • Came up with a 100-day culture cleanup plan.
  • Laid out a workplace promise.

Marshall held one-on-one meetings with each Maverick employee to get to know them better. She also helped her team embrace the 100-day culture transformation initiative, which involved:

  • Modeling zero tolerance or setting up the infrastructure for it while focusing on compliance and speak-up culture, where employees feel safe to voice their concerns.
  • Developing a playbook on empowering and educating women.
  • Implementing cultural transformation initiatives, such as a disability equity and inclusion agenda around Mavericks’ customers, suppliers, donors, and broader community.
  • Conducting basic operational effectiveness performance reviews and providing market-based compensation.

Not only did Mavericks employees rally around Marshall’s initiative, but also within those 100 days, she had diversified her leadership team to 50% women and 50% people of color.

2. Invest in a DEI/DI&B program

A diversity, equity, and inclusion (DEI) or diversity, inclusion, and belonging (DI&B) program ensures your team members feel like they belong. According to a PWC survey, 81% of C-suite and board members whose organizations adapted during the covid-19 pandemic say their culture has been a source of competitive advantage.

McKinsey’s “The State of Organizations 2023” report found that 70% of CEOs and their leadership teams express transformative DEI aspirations while only 47% have the infrastructure to realize those aspirations. From the report, companies with more diverse teams are more innovative, make better decisions, and achieve their financial goals more effectively.

Some tips to embed DEI/DI&B programs in your team culture include:

  • Creating an inclusive hiring and onboarding process.
  • Equipping your human resources and talent acquisition teams to advocate for diversity and inclusion at every stage.
  • Building a sense of community and belonging by creating safe spaces for underrepresented members of your team.
  • Host open conversations or events for team members to share their experiences and challenges in the workplace, so they can feel welcome and like they belong.
  • Have dedicated inclusive spaces (for instance, you can have open spaces for people with disabilities or lactation rooms for new moms). That way, team members can be comfortable and their full selves.

3. Support mutual trust

Trust is at the core of an inclusive culture. Create clear avenues for your team members to feel safe and be themselves — regardless of their titles or tenures. Allow them to share ideas and thoughts, take chances, fail, and succeed individually and as a team.

Here are some quick ways to build mutual trust in your team culture:

  • Build reciprocal trust by hosting open forums or Q&A sessions with company leadership and your team to ask questions and get responses.
  • Build a closer connection by accepting feedback or constructive criticism from your team members at every level.
  • Share the big picture on projects, processes, and decisions so your team members know what’s happening or why a particular decision was made.

4. Share ownership and responsibilities

Workhuman’s Human Workplace Index (January 2023) shows that 46% of workers report feeling “somewhat valued” while 10.7% don’t feel “valued at all” (49.3% who feel undervalued are workers of color and 48.8% are women).

When employees feel undervalued at the workplace, they’re less likely to want to go back.

With this in mind, it’s in your company’s best interests to make your teammates feel like valued contributors by distributing ownership over parts of the decision-making process where appropriate.

For example, Asana’s Distributed Authority model entrusts responsibilities to a Directly Responsible Individual (DRI) in the team for each job as opposed to centralizing everything with managers.

Through its Areas of Responsibility (AORs) system, the company empowers specific team members to make the call on any decisions in their specific areas — even if other team members or managers disagree with them. That way, the DRIs gather lots of advice, hear everyone out, and incorporate feedback before making decisions.

Empowering your team members builds trust and helps them manifest their full potential, resulting in a happier and more effective organization.

5. Lead with clarity

A recent study shows that only 26% of employees clearly understand how their individual work relates to the overall company goals.

Confused teams struggle to achieve their goals, duplicate effort, and are easily distracted by low-priority tasks. Since it’s unclear who makes decisions, they squabble over the next steps, so deadlines slip or work quality suffers.

In many cases, work is siloed between tools and teams, making it hard to find. Increasing clarity on what needs to be done and why it matters gives your team direction and can increase employee performance by 22% .

To increase clarity:

  • Have a clear, tangible way to connect work to business goals.
  • Track company goals where work happens to provide clarity and increase employee motivation.
  • Connect daily work to projects team members are working on so they can see the goals they’re contributing to and how.

Building and living core values, investing in DEI or DI&B programs, supporting mutual trust, distributing responsibility, and leading with clarity will help you build team culture at your company. Involve your team members at every level and keep iterating and improving to create a team culture that leads to success.

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  • Career Development

How To Write a Management Team Business Plan (With an Example)

When creating a business plan, the management section outlines your management team, personnel, resources, and the ownership structure of your company. This section should not only list the members of your management team but also how their individual skill sets will affect your financial results. We’ll go into detail about how to put together and highlight your management team in this article. This section can be conveniently organized by dividing it into the following sections:

How to write a management team business plan

Consider using these guidelines to produce a powerful team business plan:

1. Collect resumes from each manager

Typically, resumes outline a professional’s qualifications, including their training, prior employment, and technical and soft skills. You can use the resumes of your management team as a resource when writing content for your business plan. Ask each manager to send a fresh copy of their resume Asking them to modify their resume to reflect their specific position within your company could be useful and make it simpler for you to create their profiles. Include copies of their resumes as annexes to your proposal.

2. Organize your management team into categories

The next step is to depict the chain of command within your company. List the profiles, going from the company’s owners to the departmental supervisors in descending order. Your management team business plan can appear more organized by using categories, and your audience will understand how the teams’ qualifications correspond to their positions. If your company has multiple divisions, categories may also be useful.

3. Write the managers name and job title

Finding the manager on their individual profile is the third step. Include their role title and first and last names in your writing. Consider adding their department to distinguish between them if there are multiple managers with the same title. To be more specific, you could write “Assistant Manager, Marketing Department” for various employees with the title “assistant manager.”

4. Describe their employment history

The employment history details prior positions your managers held in the sector. Listing the candidates’ prior positions can support your decision to appoint them as managers if they have experience as organizational leaders. Summarize their responsibilities and projects theyve coordinated in the past. You can also highlight your managers’ achievements in this section, such as awards they have won or helpful things they have done for previous employers.

5. Explain their educational background

The manager profile’s education section covers the institutions your team attended and the degrees they obtained. It can further highlight the manager’s credentials by demonstrating that they have received the necessary training to oversee other team members in your organization. You can also write professional certifications your managers have. For instance, listing a certification in spreadsheet software may impress potential business partners if you run a technology company.

What is a management team business plan?

A management team business plan describes the qualifications and experience of a group of managers in a company. Its goal is to demonstrate to potential investors that the professionals your business has hired are qualified for leadership roles because they have training and experience. It includes details that distinguish your organization from competitors. A potential investor or business partner may be persuaded to provide funding or work with your company if your management team’s business plan impresses them.

Tips for writing a management team business plan

The following three rules will help you gather data and organize your management team business plan:

Incorporate relevant information

Include information that is relevant to their interests in your management profile as a way to attract potential investors. List the qualifications of your leaders in relation to your company and your sector. By including pertinent information, you can demonstrate to potential customers that your team has the managerial skills they need. Be selective when gathering information about your managers to avoid detracting the audience from your goal.

For instance, if you work for a ride-sharing company, you might be looking for partnerships to expand into major cities. You could note in your management team business plan that your executives have experience in customer service, technology, and transportation, three crucial areas that can help the ride-sharing business succeed. The strategy shows potential partners that your team has the expertise to work in the field, encouraging them to collaborate with your company.

Use straightforward wording

Simple language can keep your management team business plan clear and understandable. It’s crucial that customers can understand your company’s organizational structure and which employees are responsible for what tasks. The size of the business and the number of supervisors there are may have an impact on the length of the proposal. But even if your plan is more detailed, keeping your writing simple can help you keep the interest of potential stakeholders. It might be beneficial to reread your sentences and omit any pointless details so that you can convey the key ideas of your message in fewer words.

Clarify information with your team

It may be difficult to include every qualification of an employee on a resume because they are typically one page long. To learn more about your team members’ professional backgrounds, think about speaking with them directly. Find out if they have any additional pertinent information to include in their profile that will appeal to potential customers. Maybe you should mention a gap in their resume or point out that they have more work achievements you can list in their profile. Clarifying details with managers can help you plan the content more effectively and prevent repeating too many details from their resumes.

Example of a management team business plan

You can write a management team business plan that is successful by using the following example of a team member’s profile as a model:

Management Team Member Profile

Jane Stewart, Director of Marketing

The marketing division is headed by Jane Stewart, who is also the coordinator of marketing, social media manager, and graphic designer. Her duties include keeping an eye on social media engagement analytics and creating creative consumer engagement strategies. Stewart graduated from Pine Ridge University with a bachelor’s in marketing and a master’s in business administration. She is professionally certified in social media management and content marketing. Stewart’s previous position was assistant marketing director at full-service advertising agency Oak Wood, where she saw a 25% increase in email and video subscriber numbers.

Writing the Management Team Section of Your Business Plan

How do you present a management team in a business plan?

An organizational chart of your small business, including departments, department managers, and employees, should be included in the management team section. Biographical information about you, the owner, and any other owners. Clearly state your ownership stake in the company and your day-to-day responsibilities.

How do you write a management plan for a business plan?

  • Indicate the number of employees your business will require at each stage and their associated costs.
  • Describe the specifics of how your company’s human resource needs can be satisfied.
  • Describe your hiring needs, including a list of the particular skills that any employees you hire must possess.

How important is management team in a business plan?

A strong management team is especially important if you want the company to expand and grow as a whole. A management team is crucial for distributing leadership responsibilities as a business expands. If your business operates in multiple locations, it is essential.

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Olivia Rodrigo's team won't allow free contraceptives to be handed out on tour anymore, says report

  • Free contraceptives will no longer be handed out at Olivia Rodrigo's North American tour dates.
  • One abortion fund told Variety the decision was relayed from Rodrigo's management team.
  • It follows the distribution of Plan B pills at the singer's show in Missouri, where abortions are illegal.

Insider Today

The remainder of Olivia Rodrigo's Guts tour will no longer feature reproductive rights groups handing out free emergency contraceptives, lube, and condoms following the widespread media attention brought on by her recent Missouri show, according to reports.

The Grammy-award-winning pop star , who has partnered with the National Network of Abortion Funds (NNAF) for her latest tour, has allowed local rights groups to set up booths at venues on the North American leg of her tour since it kicked off in February.

However, according to Variety , after news of free morning-after pills that the Missouri Abortion Fund distributed at her St. Louis show went viral this week , the singer's management team has requested that future reproductive rights groups refrain from giving out emergency contraceptives at the upcoming shows.

free planb at @oliviarodrigo in st. louis tonight 💓 thank you @MOAbortionFund ✨ pic.twitter.com/41sc65XxLx — kin ⸆⸉ (@cowboylikekin) March 12, 2024

Jade Hurley, the communications manager for the DC Abortion Fund, relayed that Rodrigo's camp told the NNAF that they would prefer that lubrication, condoms, and contraceptives were no longer passed out because "children are present at the concerts."

A representative for Rodrigo and the NNAF did not respond to a request for comment from Business Insider outside regular working hours.

Multiple representatives of other rights groups also confirmed the news to Jezebel . Speaking to the outlet, Destini Spaeth, chair of Prairie Abortion Fund, which attended Rodrigo's tour stop in Minnesota on Friday evening, said that they had hundreds of boxes of emergency contraception ready to hand out but no longer could.

Related stories

In a statement to Rolling Stone , the Missouri Abortion Fund said that while Rodrigo had invited the groups to set up spaces in her concert arenas, "It was our decision to pass out EC."

Missouri has a near-total abortion ban

Robin Frisella, Missouri Abortion Fund's Community Engagement Director, told the publication: "While we are disappointed to learn that other abortion funds will not get the same opportunity to do the same, we are encouraged by the overwhelmingly positive response."

"We can't speak to why this decision was made, but we hope this conversation highlights the work being done by abortion funds every day in states across the country. We stand by our decision to hand out EC and will be increasing our efforts to provide this to our community."

The news that contraceptives were being handed out at the concert in Missouri angered several Republican figures in Missouri, where there is a near-total abortion ban .

State senator Bill Eigel wrote on X he was "horrified" that Plan B was being given out to concertgoers and said that Rodrigo was "actively harming women in Missouri by championing abortion." He also mistakenly referred to the emergency contraceptive as an abortifacient.

As Business Insider previously reported, some Republican lawmakers in the state — including Eigel — are trying to defund Planned Parenthood, which provides reproductive healthcare such as birth control and STD testing.

Rodrigo has long been vocal in advocating for reproductive healthcare, notably dedicating a rendition of Lily Allen's "Fuck You" during her 2022 performance in Glastonbury, England, to the Supreme Court justices who voted to overturn Roe v. Wade the day before.

A portion of Rodrigo's tour ticket sales will go to abortion funds across the US through the singer's Fund 4 Good initiative, which she launched in collaboration with the tour and advocates for reproductive healthcare freedom.

Watch: How anti-abortion crisis pregnancy centers target women looking for abortions

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How to Fix Your Company’s Culture of Overwork

  • Malissa Clark

business plan a team

A three-step process will make everyone less stressed and more productive.

The new age of flexible of work has encouraged a culture of overwork, which is proving to be harmful to the mental health of employees. In her new book, Never Not Working , Malissa Clark offers a three-step process for organizations to reverse this unhealthy relationship: 1) Assess your company’s baseline level of overwork and its origins; 2) Plan for incremental change by targeting places where change will be most effective soonest; and 3) Execute a trial experiment, learn, and iterate.

Associate professor and head of the Healthy Work Lab at the University of Georgia, Malissa Clark, argues that in a post-pandemic work landscape that transcends buildings – and hours — the boundaries of professionalism and personal lives have been blurred. In her new book, Never Not Working: Why the Always-On Culture Is Bad for Business and How to Fix It (Harvard Business Review Press) , Clark explains the current epidemic of overwork, what it looks like at its worst, and how a generation of employees have unknowingly let their work consume them. This excerpt, which is lightly edited, outlines clear steps that organizations can take to correct a culture of overwork for the betterment of their employees.

business plan a team

  • MC Malissa Clark is an associate professor of industrial and organizational psychology at the University of Georgia, where she leads the Healthy Work Lab. She is one of the world’s leading scholars on workaholism, overwork, burnout, and employee well-being. In addition to serving as an expert consultant to many organizations on these issues, Clark and her work have been featured in outlets including the New York Times, the BBC, Time, Glamour, The Atlantic, Huffington Post, and others.

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Introducing Surface Pro 10 for Business and Surface Laptop 6 for Business

  • Nancie Gaskill, General Manager, Surface

AI-powered PCs built for a new era of work

We are excited to announce the first Surface AI PCs built exclusively for business: Surface Pro 10 for Business and Surface Laptop 6 for Business. These new PCs represent a major step forward in customer-focused design and are packed with features that business customers have been requesting – from amazing performance and battery life to more ports, better security and custom, durable anti-reflective displays. These are the first Surface PCs optimized for AI, with the new Copilot key being added to Surface Laptop 6 and Surface Pro keyboards that accelerate access to the best Windows AI experiences 1 . In addition to the new Surface for Business products, we are pleased to announce the Microsoft Adaptive Accessories will now be available to commercial customers.

These new PCs are powered by the latest Intel® Core™ Ultra processors. We partnered with Intel to deliver the power and reliable performance our customers depend on, along with compelling AI experiences for Surface and the Windows ecosystem. Surface has also been leading in Neural Processing Unit (NPU) integration to drive AI experiences on the PC since 2019, and the benefits of these connected efforts are evident. From a performance perspective, Surface Laptop 6 is 2x faster than Laptop 5 2 , and Surface Pro 10 is up to 53% faster than Pro 9. The benefits of the NPU integration include AI features like Windows Studio Effects and Live Captions 3 and the opportunity for businesses and developers to build their own AI apps and experiences.

Meet Surface Pro 10 for Business

Surface Pro 10 for Business

Surface Pro 10 for Business is designed for teams that need a no-compromise device. It is our most powerful Surface Pro ever powered by Intel Core Ultra processors, and the first time we’re bringing 5G 4 to the Intel platform. It brings a new level of productivity and versatility – whether used as a powerful tablet for frontline workers out in the field, a versatile laptop in the conference room, or anywhere in between – Surface Pro 10 adapts to our customers’ needs and to how they use technology.

With the power of AI assistance from Microsoft Copilot and the innovation in Windows 11 Pro, Surface Pro 10 unlocks the ability to be more productive than ever before. We’ve added the Copilot key to all of our new Surface Pro keyboards, including a new version with a bold keyset 5 with a larger font, high contrast and backlighting that make the keys more visible and easier for everyone to type.

But our customers don’t choose Surface Pro to interact with it using only the keyboard. They’re choosing Surface Pro to use with touch gestures, voice commands and even with handwritten prompts with Surface Slim Pen. With Surface Pro, they are able to use all these natural input methods to make it even easier to use Copilot. And in Microsoft 365 apps like OneNote, Copilot will be able to use AI to analyze handwritten notes, saving time and keeping them in their flow.

This device comes with the best display we’ve ever shipped on a Surface Pro. Whether working under fluorescent office lighting or outside in the field, the display looks incredible in almost any lighting condition. We’ve made it 33% brighter and with a higher contrast ratio and have added a custom designed durable anti-reflective coating, all without making any sacrifices to the experience when using it with touch, and pen.

We focused a lot of attention on making the video calling experience on Microsoft Teams and other apps even better. With Surface Pro 10, we’ve put in a new Ultrawide Studio Camera that is the best front-facing camera that has ever been put into a Windows 2-in-1 or laptop. It’s the first Windows PC with a 114° field of view, captures video in 1440p, and uses AI-powered Windows Studio Effects to ensure that the speaker is in frame and looking their best during video calls.

Surface Pro 10 is a Secured-Core PC that delivers the industry-leading security that our business customers need. We’ve added additional layers of security to keep customer and company data safe and secure with Enhanced Sign-in Security on by default and a brand-new NFC reader designed to make secure password-less authentication even easier with NFC security keys like YubiKey 5C NFC .

Meet Surface Laptop 6 for Business

Surface Laptop 6 for Business

Surface Laptop 6 for Business is the ultimate laptop that’s built for business. It is powered by the latest Intel® Core™ Ultra H-Series processors and designed with improved thermal capacity to deliver incredible performance. This allows your team to be their most productive with the least amount of downtime when crunching huge data sets in Excel, creating marketing assets in Adobe Photoshop, or building critical applications in Visual Studio.

Consistent with the legacy of Surface, Surface Laptop 6 has an industry-leading typing experience that is designed for quality, and confidence. Every element of the keyboard has been considered to ensure productivity when typing, with nothing to get in the way of self-expression. Also, the new Copilot key on Surface Laptop 6 makes accessing the power of AI even easier, with a quick button press to invoke Copilot in Windows 1 to help customers to plan their day, find a document using natural text, analyze a website and more with commercial data protection built in.

Choose between 13.5” and 15” PixelSense touchscreen displays that are built for touch to help browse and navigate with ease. These vibrant displays also all come with anti-reflective and adaptive color technology that helps to clearly see the content on the screen in almost any lighting environment and reduces reflections by up to 50%.

We’ve designed a new Surface Studio Camera for Surface Laptop 6. The new camera captures 1080p video and uses AI-driven Windows Studio Effects to help everyone look their best on video calls. Windows Studio Effects are enabled by machine learning algorithms that run efficiently on the NPU leaving plenty of power to run other critical apps like Microsoft Teams on the CPU and GPU.

In the U.S. and Canada, customers will also be able to choose options on the 15” Surface Laptop 6 that include an integrated smart card reader. This helps customers in highly secure industries like government agencies and financial services login without a password simply by inserting their smart card.

Advances in accessibility, sustainability, security and modern tools for IT

In addition to the new products, there are advances in accessibility, sustainability, security and IT tools that will help our customers to empower all of their employees, advance their sustainability efforts, further secure their critical data and manage their devices over their life cycle.

Our Designed for Surface accessory partners are proud to offer a range of accessories specifically created to enhance the Surface experience in various commercial and industry scenarios. Our collection spans the Surface portfolio and includes everything from protective cases to mobile-kiosking retail solutions. One  example is  the ViewSonic ColorPro 4K Monitor , which offers Pantone Validation, stunning 4K Ultra HD resolution and calibrated color accuracy – making it a great option for Surface Laptop 6 customers. ​ Our commitment is to ensure that your team can deploy Surface in any way and place you need.

Accessibility

Accessibility is core to Surface design and to Microsoft’s mission to enable every person and every organization to achieve more. Surface Laptop 6 and Surface Pro 10 for Business bring the power of AI to accessibility, bringing together the latest hardware innovations from Surface with the software experiences designed to make it possible to use your device in the ways most natural to you.

We’ve made it even easier to turn on accessibility features through Copilot in Windows 1 . Ask Copilot to “turn on live captions” or “turn on the magnifier” without having to navigate to settings in Windows. Live captions 3 are now even better on these new products as the processing for this feature is offloaded to the NPU so the system operates with greater efficiency, freeing up the CPU and GPU to run other demanding applications.

Surface Pro Keyboard with bold keyset

We’re also launching the first ever Surface Pro Keyboard with bold keyset 5 , featuring a bold font change and brighter backlighting, making it easier to read and reducing eye strain for everyone. And finally, we’re very excited to launch our Microsoft Adaptive Accessories to commercial customers, empowering anyone with difficulty using a traditional mouse and keyboard to create their ideal setup, increase productivity, and use their favorite apps more effectively.

Microsoft Adaptive Accessories

All of these innovations in accessibility have been created to match the elegant design of our products and empower more people to be productive and efficient in the way that works best for them.

Sustainability

In 2020, Microsoft committed to becoming carbon negative, water positive and zero waste by 2030. This commitment means that we are constantly working to advance the sustainability of our products, and we know that many of our customers are also pursuing their own ambitious sustainability goals. Surface Laptop 6 and Surface Pro 10 contain the most recycled content that we’ve ever put into our PCs with the Surface Laptop 6 enclosure being made with a minimum of 25.8% recycled content and the enclosure on Surface Pro 10 being made with a minimum of 72% recycled content 6 . Both devices are even easier to service and repair with built-in QR codes that provide convenient access to service guides. In Surface Pro 10 we’ve also included internal markings that identify the number of screws and driver types needed for key components. This increased device repairability can offer significant carbon emissions and waste reduction benefits 7 . We are also making trade-in more convenient and secure for our commercial customers in the U.S. to help limit device waste.

Security is of critical importance to our customers, and we design devices with Zero Trust security principles to help keep their most sensitive data safe and protect all the way down to the firmware level. Surface Laptop 6 and Surface Pro 10 for Business have the highest-level security features and protections available in the ecosystem, are certified Secured-Core PCs, and have Enhanced Sign-In Security (ESS) on by default. We’ve made updates to the hardware itself with an optional smart card reader on Surface Laptop 6 and new NFC reader on Surface Pro 10. These new features combined with chip-to-cloud security deliver the ultimate in authentication and protection.

Modern tools for IT

At Surface we think about the entire lifecycle of the device, and how we can make customers’ lives easier. Today we are excited to introduce innovation from Surface and Intune to create the most modern and comprehensive solution for IT. The Surface Management Portal delivers insights-based monitoring to bring value and efficiency to device management. Customers can also track the estimated sustainability improvements of their devices right in the management portal. We’ve also created the Surface IT Toolkit with features to help modernize deployment, security and data compliance. Read more on the Surface IT Pro Blog .

Our team works relentlessly to create and tune every detail of our products to help our customers be more productive and engaged in the work they do today and in AI workstreams to enhance creativity and collaboration going forward. Our new Surface for Business portfolio is a key part of a holistic offering that includes Copilot, AI enhancements across key applications, and innovation in Windows 11 to bring our customers into a new era of work.

Surface Pro 10 for Business and Surface Laptop 6 for Business are available for pre-order starting today, with product shipping to customers starting April 9. To learn more and pre-order your devices today, visit Surface.com/Business to find an authorized reseller or the Microsoft Store.

Disclaimers

  • Copilot in Windows (in preview) is available in select global markets and will be rolled out to additional markets over time. Learn more . Copilot with commercial data protection is available at no additional cost for users with an Entra ID with an enabled, eligible Microsoft 365 license .  When Copilot for Windows is not enabled on the device, pressing the Copilot key will launch Windows Search.
  • Based on 3DMark TimeSpy benchmark measuring graphic performance.
  • Live Captions supports English, Chinese, French, German, Italian, Japanese, Korean, Portuguese, Spanish and Danish.
  • Surface Pro 10 with 5G will be available later in 2024 and not available in all areas. eSIM and 5G support are also not available in all areas; compatibility and performance depend on carrier network, plan and other factors. See carrier for details and pricing.
  • Surface Pro Keyboard with bold keyset available only in U.S. English and is available only in the U.S. and CA.
  • Based on validation performed by Underwriter Laboratories, Inc. using Environmental Claim Validation Procedure, UL 2809-2, Second Edition, November 7, 2023.
  • Based on Microsoft-commissioned assessment of greenhouse gas emissions and waste impacts prepared by Oakdene Hollins in April 2022 comparing device replacement to factory repair and Microsoft ASP repair.​

IMAGES

  1. Engage the Entire Organization in Strategic Planning in Business and at

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  2. Team Plan: What is it & How to Create it?

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  3. Team Management Business Plan

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  4. Streamline Your Success with our 2023 Business Plan Template

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  5. Team with a business plan

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  6. Business plan: A practical example of how to do it when you don’t know

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VIDEO

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  3. New BUSINESS ପେଲା ଲେଲି କରି PLAN DISCUSSION || Business Development Idea

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  5. Business Planning: Stages in Planning and Managing an Enterprise

COMMENTS

  1. How to Write the Management Team Section of a Business Plan

    A management team business plan is a section in a comprehensive business plan that introduces and highlights the key members of the company's management team. This part provides essential details about the individuals responsible for leading and running the business, including their backgrounds, skills, and experience. ...

  2. How To Write a Management Team Business Plan (With an Example)

    Consider following these instructions to create an impressive team business plan: 1. Collect resumes from each manager. Resumes typically discuss a professional's credentials, including education, work experience and soft and technical skills. You can use your management team's resumes to guide you into creating content for your business plan.

  3. How to Write the Management Team Section to Your Business Plan

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  4. How To Write A Business Plan (2024 Guide)

    Describe Your Services or Products. The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit ...

  5. How To Write the Management Section of a Business Plan

    The management section of a business plan helps show how your management team and company are structured. The first section shows the ownership structure, which might be a sole proprietorship, partnership, or corporation. The internal management section shows the department heads, including sales, marketing, administration, and production.

  6. Management Team Section of Your Business Plan- Made Easy

    Management Team. The purpose of including the management team in a business plan is that it provides an overview of your founders and key employees. Yet, in the beginning, that might be just one person. You can increase your plan's credibility by establishing a supporting cast of key mentors and advisors and including them in this section.

  7. Tips on Writing the Management Team Section of a Business Plan

    1. Convince your investors (banks and government agencies) to disburse loans and grants for your business idea. 2. Prove that your management team can execute your idea and if not, help hire the right fit for a position. 3. Share how your advisory board can help your team succeed.

  8. How to Write a Business Plan: Guide + Examples

    Download Now: Free Business Plan Template. Writing a business plan doesn't have to be complicated. In this step-by-step guide, you'll learn how to write a business plan that's detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

  9. How to Write a Great Business Plan: Management Team

    In fact that's expected; no one does anything worthwhile on their own. Just make plans to get help from the right people. Finally, when you create your Management section, focus on credentials but ...

  10. How to Write a Management Team Business Plan (Plus Tips)

    Follow these steps when writing the management team section of a business plan: 1. Compile relevant managerial resumes. Resumes are useful in outlining a professional's qualifications, educational history, work experience, and skills. The streamlined nature of a resume to the specific requirements of a role makes it helpful in writing a ...

  11. Writing the Organization and Management Section of Your Business Plan

    The organization and management section of your business plan should summarize information about your business structure and team. It usually comes after the market analysis section in a business plan . It's especially important to include this section if you have a partnership or a multi-member limited liability company (LLC).

  12. How To Write a Management Team Business Plan (With an Example)

    Include copies of their resumes as annexes to your proposal. 2. Organize your management team into categories. The next step is to depict the chain of command within your company. List the profiles, going from the company's owners to the departmental supervisors in descending order. Your management team business plan can appear more organized ...

  13. 24 of My Favorite Sample Business Plans & Examples For Your Inspiration

    8. Panda Doc's Free Business Plan Template. PandaDoc's free business plan template is one of the more detailed and fleshed-out sample business plans on this list. It describes what you should include in each section, so you don't have to come up with everything from scratch.

  14. How to write a business plan in seven simple steps

    A business plan is a formal document outlining the goals, direction, finances, team, and future planning of your business. It can be geared toward investors, in a bid to raise capital, or used as an internal document to align teams and provide direction.

  15. Business Plan: What it Is, How to Write One

    Learn about the best business plan software. 1. Write an executive summary. This is your elevator pitch. It should include a mission statement, a brief description of the products or services your ...

  16. Business Plan: What It Is, What's Included, and How to Write One

    Business Plan: A business plan is a written document that describes in detail how a business, usually a new one, is going to achieve its goals. A business plan lays out a written plan from a ...

  17. Business Plan

    A business plan should be structured in a way that it contains all the important information that investors are looking for. Here are the main sections of a business plan: 1. Title Page. The title page captures the legal information of the business, which includes the registered business name, physical address, phone number, email address, date ...

  18. Free business plan template & how to write a business plan

    Once you've got your audience in mind, you can start your business plan, which should include: 1. Executive summary. Even though it appears first in the official plan, write this section last so you can condense essential ideas from the other nine sections. For now, leave it as a placeholder.

  19. Simple Business Plan Template (2024)

    Our simple business plan template covers everything you need to consider when launching a side gig, solo operation or small busi. ... Prior to joining the team at Forbes Advisor, Cassie was a ...

  20. How to Write a Business Growth Plan

    Be sure to outline how you will effectively market your business to encourage growth and how your marketing efforts will evolve as you grow. 7. Ask for help. Advice from other business owners who have enjoyed successful growth can be the ultimate tool in writing your growth plan. 8. Start writing.

  21. Strategic Planning: 5 Planning Steps, Process Guide [2024] • Asana

    Step 1: Assess your current business strategy and business environment. Before you can define where you're going, you first need to define where you are. Understanding the external environment, including market trends and competitive landscape, is crucial in the initial assessment phase of strategic planning.

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  26. How to Write the Management Team Section of a Business Plan + Examples

    Include copies of their resumes as annexes to your proposal. 2. Organize your management team into categories. The next step is to depict the chain of command within your company. List the profiles, going from the company's owners to the departmental supervisors in descending order. Your management team business plan can appear more organized ...

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