Northwestern Ontario Innovation Centre

Management and Organization

This section of the business plan is critically important. Many investors will indicate that they would prefer to back a mediocre idea with an excellent management team then an excellent idea with a mediocre management team. You need to indicate that the key skill sets are in place to allow for the successful implementation of the business plan. Areas such as: marketing, sales, financial management, operations, human resources all require attention. If your management team is weak in certain areas indicate how you plan to address these weaknesses. Are you planning to hire someone? Do you have business advisors that will assist? Do you plan on getting some additional training in certain areas?

Who will manage the business on a day-to-day basis? What experience does that person bring to the business? What special or distinctive competencies? Is there a plan for continuation of the business if this person is lost or incapacitated?

If you will have more than about ten employees, create an organizational chart showing the management hierarchy and who is responsible for key functions.

Include position descriptions for key employees. Include resumes of owners and key employees. Highlight how their experience, education and energy will help the business succeed.

Professional and Advisory Support

List board of directors and management advisory board.

Attorney

Accountant

Insurance agent

Banker

Consultant(s)

Mentors and key advisors in addition to the above

Knowledge Bank

Newsletter Sign Up

Entrepreneur's Toolkit
Join Us on Facebook Follow Us on Twitter Join Us on Linkedin Watch Us on YouTube

Box 398
2400 Nipigon Rd.
Thunder Bay, ON P7C 4W1

Telephone: 807-768-6682
Toll-Free: 1-866-768-6682
Fax: 807-768-6683
Email: info@nwoinnovation.ca

Click to View Map