In this section, name each principal and discuss related business experience. It is, in fact, a good idea to attach a resume for each principal. Next, discuss the job descriptions, salaries and benefits. Also mention here what external management assistance you call on (marketing or business consultants, accountants, etc.).
Next, discuss your personnel. “The fiscal officer who might examine your business plan is especially interested in your commitments to hired personnel and its long-range implications on your cash flow,” says Berle and Kirschner.
This is also a good place to mention (and attach to the business plan) if you have a written employee policy.
Now that you’ve proven your potential for growth and talked about your customers and prospects, you must show how you will market your products and services.
“Marketing is the strategic plan to put you in touch with the customer in order to satisfy their needs, wants or desires,” says Berle and Kirschner. “Figure out how to promote your company using all the tools available to you, including public relations and advertising,” says Bangs.
“The heart of the operation is in the accounting system,” says Bangs, “Control is essential. If you don’t control your business, it will control you.”
“This is the make-or-break section,” says Berle and Kirschner. “It is the one a potential lender will understand best and will examine most closely for completeness, accuracy and realism.”
According to Berle and Kirschner, the financial section should include the following information:
• Capital requirements
• Depreciable assets
• Pro forma balance sheet
• Break-even analysis
• Projected income statement
• Cash flow projection and analysis
The back-end of your business plan should include the supporting documents you discussed throughout the body of the plan. Put them in the same order as referenced in the plan, and clearly label them. You’ve got the ingredients of a winning plan.