Writing Business Plans
Business plans describe the scope and nature of a new small business, including marketing, financial management, and the business description. This page describes management considerations and personnel issues to take into account as you write your business plan.
Additional material found in business plans can be found by following the links below:
The Management Plan
Managing a business requires more than just the desire to be your own boss. It demands dedication, persistence, the ability to make decisions and the ability to manage both employees and finances. Your management plan, along with your marketing and financial management plans, sets the foundation for and facilitates the success of your business.
Like plants and equipment, people are resources--they are the most valuable asset a business has. You will soon discover that employees and staff will play an important role in the total operation of your business. Consequently, it's imperative that you know what skills you possess and those you lack since you will have to hire personnel to supply the skills that you lack.
Personnel and Employee Considerations
Additionally, it is imperative that you know how to manage and treat your employees. Make them a part of the team. Keep them informed of, and get their feedback regarding, changes. Employees oftentimes have excellent ideas that can lead to new market areas, innovations to existing products or services or new product lines or services which can improve your overall competitiveness.
Your management plan should answer questions such as:
- How does your background/business experience help you in this business?
- What are your weaknesses and how can you compensate for them?
- Who will be on the management team?
- What are their strengths/weaknesses and their duties?
- If a franchise, what type of assistance can you expect from the franchiser?
- Will this assistance be ongoing?
- What are your current personnel needs?
- What are your plans for hiring and training personnel?
- What salaries, benefits, vacations, holidays will you offer? If a franchise, are these issues covered in the management package the franchiser will provide? What benefits can you afford, if any, at this point?
HIS CPA helps Atlanta and Gwinnett county small businesses develop strategic business management plans. We would be happy to sit down with you and discuss your business planning needs. Please feel free to call or contact us.
