Writing the Perfect Business Plan: Organization & Management
Now that you have completed the Company Description of your business plan, you can move on to the next section. The Organization & Management is arguably the most straightforward section of your business plan. Essentially, it tells your audience who is involved in your business and how it is structured. Here, we will discuss some best management practices for writing an informative Organization & Management section of your business plan.
When you created your business, you had to decide on a legal structure for it. This may have been a sole proprietorship, partnership, or LLC, among other options. Within this section, you should discuss the reasons that you chose this structure. By giving solid reasons, your audience will know that you thought out all of the possibilities.
In the Key Members subsection, you should list the people involved in your business and their roles. In addition, include any relevant information and credentials that align with their roles. As a result, your audience will know why the people in your business are qualified to do the tasks they are doing.
You can probably leave this section out if you are the only one involved in your business. However, if any one else is involved, you should include it. The organization structure helps to show who is in charge of what, a vital part of an efficient business. You should include the “chain of command” and if there are any management levels within your company. You can even use a graphic chart to show this!
The Organization & Management section of your business plan is relatively short. However, this doesn’t mean that you should skimp on it. This section can demonstrate that you and your personnel are well qualified. This will go a long way in making your business seem more qualified. To learn about the rest of the sections of the perfect business plan, check out this overview!