Investors will be particularly interested in the strength and quality of the management team.

Recommendations

• Openly discuss the strengths and weaknesses of proposed management;
• show what steps will be taken to rectify any weaknesses highlighted;
• indicate what additional skills will be required as the venture grows; and
• include full profiles of key individuals and an organisation chart in appendices.

Key elements

Discuss the structure of the organisation:

• How will responsibilities be distributed?
• Is management a one man show?
• What additions to management are anticipated?

Identify key management personnel and their backgrounds:

• Who are the key managers and what have they accomplished in the past?
• What are their goals for the organisation?
• Is there a balance of skills among the members of management (marketing, research, finance, administration)?
• What steps have been taken to ensure that key members of the management team will be retained?
• Have any personal financial commitments been made to the business by the management team?

Describe the role of any outsiders in the venture:

• Are there to be any non executives on the board of directors?
• What skills will they bring to the organisation?
• What professionals does the company rely upon?

Include general personnel details:

• Employment terms of key personnel;
• planned staff numbers;
• future recruitment plans;
• other incentives issued to staff; and
• qualifications and skills required.