Spotlighting Key Personnel in Your Business Plan

The section of the business plan that features your management team will typically comprise the biographies of your key personnel, including your board of directors, officers, and key advisors.

Bios should be concise and focus on what each member of the team brings to the business.

Include:

• Title of the position the individual will hold
• Past industry experience
• Education
• Significant attributes and successes that are applicable
• Duties and tasks he/she will be performing
• Supervisory, management, or leadership background if the individual will hold such a position

The bio should present a picture of why you selected this individual for this particular position. Omit the following information:

• Extraneous details of previous jobs
• Unrelated past experience
• The use of superlatives
• Any information that you cannot verify or appears to be inconsistent with the rest of the individual's bio
• A list of too many responsibilities for one person. (It will concern investors if they see one person filling five positions.)

Remember that you need only list the key players. Additionally, if you have multiple vice presidents, clearly differentiate their positions and responsibilities.

Often new entrepreneurs rely heavily on family, friends, and others with whom they have personal relationships as they start a new business, placing them in positions they are not qualified to handle. Although these people may play significant roles in your company, it is often best to omit them from the business plan.

Investors often scrutinize the people behind the business. For a small business, it is this team of individuals in whom the investors are most interested. Clearly indicate in your business plan how each person is a good fit for his or her role in the business.