“This Just in: Role of Top Management in Business Plan Project” 

Small Business Online Coach



       “Let me tell you about a small business owner in Houston, Texas who got her business plan approved by the bank, her investors and her partner.”

       As a Houston small business owner, Sarah had her ducks in a row. She included key job descriptions for roles in top management in her small business plan. She showed who handled critical roles. And showed how you use absence management when work falls through the cracks.

       Many small business owners write business plans but they don’t get bank approval. Investors shy away because they see risks. They want to see the potential for success.

       If you wonder what could be wrong, you aren’t alone. One of the key areas of a business plan is your top management. How strong are they? And why do you think that is the case?

       Do you remember the famous quote? “People are your greatest asset”. Most investors, partners and employees believe in it.

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       Include job titles. Include background and education. Include their work in the industry. Include awards, milestones and top management skills. Remember to list any previous businesses they owned. Show how each partner or employee fits each job. Show how work connects people. Explain who will take action in each area. Use a flowchart. Show reporting layout. 

       If you have critical roles, then include them in the plan. If your business focuses on accounting, then a certified accountant is a critical role. Similarly, if your business is engineering, then a licensed engineer is a critical role. Critical roles exist in all small businesses. List them if you have more than one in your small business. Show how you handle absence management.

       Now, it's possible to have a flowchart that shows vacant positions. For each such position, list the title, the number, expected turnover, skills and date you plan to fill it.

       List any training programs you plan to hold if you don’t find the right staff. Point out training you’ll take as the small business owner to stay current.

       Preserving skills is equally important. Highlight how you plan to divide the work. Show how you’ll pass this information to staff. Document internal steps to check if you’ve trained your staff to do the work.

       Such steps assure investors that you will be able to lower risks. Markets go through highs and lows. Small businesses that survive remain steady in their approach. That’s what a great business plan project showcases.

       As a benefit to you, having the right top management in the plan will help you evaluate the skills, experience and training your business needs. Complement that with absence management and you will cover the gaps.

       At the end of the business plan project, you could include resumes of your staff.

       If you need help writing a business plan, work with a small business advisor. Or, find a small business online coach. That's even better. You'll recover what you paid quicker than you think.

       Want even faster results? Are you ready to discover how? Schedule your Explosive Business Results session now.

Written by Suresh Iyengar, P.E., President, Business Unit Execution LLC––“Explosive Business Coaching Houston Results For Small Business”. Want even faster results? Are you ready to learn? Call 281.410.5375 and speak to your Profitability Coach Houston

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