How to write a business plan for a startup

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The ninth in a comprehensive series to help you craft the perfect business plan for your startup. This article is part of a series on how to write a great business plan. 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. Addressing your company’s needs during implementation will make a major impact on your chances how to write a business plan for a startup success. If actual people have not been identified, describe the type of people needed.

Components of a good business plan

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What are their experiences, educational backgrounds, and skills? Do your key leaders have industry experience? If not, what experience do they bring to the business that is applicable? What duties will each position perform?

Creating an organization chart might be helpful. What authority is granted to and what responsibilities are expected in each position? What salary levels will be required to attract qualified candidates for each position? What is the salary structure for the company, by position? Joe has over twenty years experience in the cycling business.

Put this another way — try to think of people other than you who would want (or need) to read what you write, and of someone (perhaps the reader, perhaps the publisher, perhaps some other group) who would be ready to pay you for it.
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