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Sfs12 8 management plan pdf
- 2. © School For Startups. All Rights Reserved.
Remember
• “Business is about people first and everything else
second. Good ideas never succeed on their own.”
Slide 12.8-2
- 3. © School For Startups. All Rights Reserved.
5 Sections
• Management Team
• Board of Directors
• Board of Advisors
• Other Professionals
• Company Structure
Slide 12.8-3
- 4. © School For Startups. All Rights Reserved.
Remember
• The way you assemble your
management team is an indication
of the extent to which you are
open to advice and you are able to
generate enthusiasm for your
company.
• Clearly describe how your team
will evolve
Slide 12.8-4
- 5. © School For Startups. All Rights Reserved.
Management Team
• Management Team Personnel
• Ownership & Compensation
• Common Mistakes to Avoid
Slide 12.8-5
- 6. © School For Startups. All Rights Reserved.
Management Team / Personnel
• Title & Position
• Duties & responsibility of position
• Previous industry and related experience
• Previous Successes
• Education Background
Slide 12.8-6
- 7. © School For Startups. All Rights Reserved.
Ownership & Compensation
• Options Pool
• “Skin in the game”
Slide 12.8-7
- 8. © School For Startups. All Rights Reserved.
Common Mistakes to Avoid
• Friends & Family in key positions
• Assuming previous success in other industries
translates to success in this one
• Presenting a “one man team”
• Hiring top managers without sharing ownership
• Not disclosing management team gaps
• Vague or unclear plans for filling gaps
Slide 12.8-8
- 9. © School For Startups. All Rights Reserved.
Board of Directors
• Elected by shareholders to oversee firm
• Appoint the firm’s officers; declare dividends; and
oversee the affairs of the corporation
• Optimal size
• Signaling
Slide 12.8-9
- 10. © School For Startups. All Rights Reserved.
Board of Advisors
• No legal liability
• 5-15 people
• Multiple advisory boards
Slide 12.8-10
- 11. © School For Startups. All Rights Reserved.
Other Professionals
• Attorneys
• Bankers
• Investors
• Business consultants
• Incubators
Slide 12.8-11
- 12. © School For Startups. All Rights Reserved.
Other Professionals
• Substance isn’t as important as the fact that the
relationship exists
Slide 12.8-12
- 13. © School For Startups. All Rights Reserved.
Company Structure
• Organizational chart
• Prevents tension among
“equals”
Slide 12.8-13
- 14. © School For Startups. All Rights Reserved.
THANKS!
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Next: Lesson 12-9
The Financial Plan
Slide 12.8-14