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Creating Your Successful Business Plan - Part 5 - Operations, Management Team, and Personnel

 


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Operations

The operations section of your business plan describes the physical necessities of your business’ operation, such as your business’ physical location, facilities, and equipment. You want to show what you have done so far to get your business off the ground and demonstrate that you understand the manufacturing or delivery process of producing your product or service.

Purchasing

Here, outline what products and services your business will require in order to manufacture, supply, or develop your products or service. Show where you are going to get the materials you need to produce your product or service, and explain what terms you have negotiated with suppliers.

Staffing

Specify the staffing requirements your business will need for daily operation and upkeep.

Facilities

List any office space, warehouses, manufacturing plants, etc. your business will require to produce and sell your goods and services. If applicable, include drawings of the building, copies of lease agreements, and/or recent real estate appraisals.

Equipment

Describe the equipment necessary to produce and supply your goods and how much of it you need. Also include its worth and cost, and explain any financing arrangements.

Production Strategy

In this section, describe how your product or service will be made, and identify the problems that may occur in the production process. Explain any quality control measures that you have set up or are going to establish. Outline your business’ day to day operations, such as the hours of operation, and the days the business will be open.

Management Team

This section provides a profile for each member of your management team. In each individuals profile, contain background on their experience, abilities, and capacity. Address any lack of knowledge or experience found on your management team and your solution to these problems, such as additional training. Show that you know any problems exist, and that you have a plan of action to deal with them.

Personal History of Principals

Provide each member of the managements team's name, address, age, interests, reasons for entering into the business, and any special abilities that will supplement yours.

Include each principles business background, highlighting each individuals strengths and how these strengths will help the business succeed.

Give any past experience that will show that your principals will be an asset to your success. Educational background, both formal and informal is a good place to start.

Duties and Responsibilities

Describe clearly and concisely exactly who will be doing what in the business and why. Be sure to clearly show who will be making the final decisions.

It is a good idea to provide an organizational chart with the chain of command and complete listing of duties.

Salaries and Benefits

This section should be a simple statement, showing rate of pay, by position. Provide a list of possible bonuses, but be sure to stay realistic with your projections. Also include any benefits you may possibly be offering your management team, such as medical insurance, life insurance, and disability leave.

Personnel

Here, you will describe your current personal needs, or your projected personnel needs to maintain and operate the business. Also provide employee number projections in the near future, as well as 3-5 years down the road.

Describe what skills your employees must have, and your training plan to provide these skills.

The reader of your business plan will be looking for you to provide job descriptions for each position in your business you will be hiring for.

You will need to show that you have individuals ready to start working. If you don't, explain your plan to attract potential hires to your business.

Describe how your employees will be compensated, like whether they get paid salary or hourly, and if they will work part time or full time.

Will you be paying your employees overtime? Also include a complete list of any benefits you will be making available to your employees, such as medical, life insurance, savings plans, and disability.

Mr. Oliver is a marketing agent of the Small Business Advocate. Jim Blasingame, the small business advocate, is a champion for small business and provides national expertise concerning small business. For more information on this Small Business Expert please visit his website.

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