Maybe you think you don't need a step-by-step guide to writing a great business plan. Maybe you think you don't need a template for writing a business plan. After all, some entrepreneurs succeed without writing a business plan. Does a business plan make startup success inevitable?
There has been more talk about businesses not needing a business plan when starting out, especially if they're not asking for money. According to Carl Schramm, author of "Burn the Business Plan," many large corporations didn't have business plans when they started:. The U. Small Business Administration takes a middle-of-the-road approach recognizing that not all businesses need a comprehensive business plan. Instead, it suggests a lean, simple business plan for startups that highlights the basics, or for businesses to focus on parts of a business plan that make the most sense for their business.
Many investors and lenders feel the quality and experience of the management team is one of the most important factors used to evaluate the potential of a new business. But putting work into the Management Team section will not only benefit people who may read your plan. It will also help you evaluate the skills, experiences, and resources your management team will need.
Highlighting your own professional attributes, as well as those of any other business owners, gives you a chance to demonstrate your ability to succeed with the new venture based on your track record. You can approach this section a little like an abbreviated CV, noting any key achievements, particularly where they are relevant to the proposed start-up. There may be certain areas where the business owners do not possess the relevant skills or industry knowledge.
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