Management Plan in a Business Plan

What is a management plan in a business plan? As a small business owner, you know you face an uphill battle. 4 min read updated on February 01, 2023

What is a management plan in a business plan? As a small business owner, you know you face an uphill battle. About 80 percent of new ventures fail within their first five years. Why? Most of the time it's due to flawed operating procedures or a less-than-optimal management structure.

What Is a Management Plan?

The management plan is all about employees and operations.

  • Employees are one of the most important parts of any new venture. Good employees can make your life much easier, while bad employees can distract you and be a detriment to your success.
  • Operational structure can be the difference between a successful venture and a failure.

When you're putting together a business plan , the operations and management section will describe how your business will operate on a day-to-day basis. It will cover all the essentials:

  • Your company's physical location
  • Other important processes

This section is an easy way to answer basic questions about your business without overwhelming readers.

Carefully crafting a professional and thorough business plan is an important step in forming a new venture. It will keep you on track and clearly define strategy and goals. However, business plans are only as good as the people behind them.

A venture's biggest asset is the entrepreneur. Investors won't make a move until they know they have complete confidence in an entrepreneur. Does he or she have the right experience? Is he or she willing to put in the work? These are just two of the questions Investors will have to answer before working with a new entrepreneur .

The management section of your business plan is an excellent space to highlight the members of your management team . Tell your readers and potential investors who will be managing your company, where they come from, how they will help your venture, and anything else that will signal your venture's future success. Be sure to cast the best light on your management team. Your investors need to know that this team is capable of anything.

There are usually three parts to a good Management and Staffing portion of a business plan:

  • Management team details
  • Key supporters and alliances, such as an advisory board
  • Staffing and employment requirements

A few things to remember as you work on this section of your business plan:

  • Your readers are usually potential investors. They need to know you and your management team are trustworthy and deserving of their investment.
  • Investors need to know that you and your team can do the job; they need to get a feel for your attitudes and your abilities.
  • Showing your team has a wide variety of skills and experiences will give you an advantage when presenting your business plan.
  • It's all about the people. Business plans are great for answering key questions about the new venture, but at the end of the day, investors are looking to partner with hard-working, trustworthy people.

Now let's talk about operations. The operations section of the business plan describes several key characteristics of your business. For example, if your business has a physical, "brick and mortar" location, take time in this portion of the business plan to describe the area around your business. Tell your investors why your location is optimal for your business.

Make a note of your standard operating hours. Answer questions like,

  • When will you open every day?
  • When will you close?
  • Will you be open during holidays?
  • If so, which ones?

This is also a great section to list out your daily operation details, the different products or services you will provide, your standard operating procedures, customer service, and so on.

Take time in the Inventory section of your operations plan to list out potential suppliers, vendors, or contractors with whom you have agreements. Your partners, even the third-party ones, reflect upon you, so make sure to sing their praises. Put some thought into an inventory plan. Remember, too much inventory means you're likely wasting valuable resources that could be deployed elsewhere. On the other hand, too little inventory means you could be losing out on potential customers.

Once again, your management team plays a crucial role in your operations plan. Tell your investors exactly who they are, how they are uniquely qualified, and how their responsibilities will be divided with operations.

The management and operations sections of your business plan will demonstrate to your investors that you have the right team and the right strategy to be successful in a competitive industry.

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Step-by-Step Guide to Writing a Simple Business Plan

By Joe Weller | October 11, 2021

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A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice. 

Included on this page, you’ll find a step-by-step guide to writing a business plan and a chart to identify which type of business plan you should write . Plus, find information on how a business plan can help grow a business and expert tips on writing one .

What Is a Business Plan?

A business plan is a document that communicates a company’s goals and ambitions, along with the timeline, finances, and methods needed to achieve them. Additionally, it may include a mission statement and details about the specific products or services offered.

A business plan can highlight varying time periods, depending on the stage of your company and its goals. That said, a typical business plan will include the following benchmarks:

  • Product goals and deadlines for each month
  • Monthly financials for the first two years
  • Profit and loss statements for the first three to five years
  • Balance sheet projections for the first three to five years

Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check.

While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.

For more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates . This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates .

Business Plan Steps

The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:

  • Executive summary
  • Description of business
  • Market analysis
  • Competitive analysis
  • Description of organizational management
  • Description of product or services
  • Marketing plan
  • Sales strategy
  • Funding details (or request for funding)
  • Financial projections

If your plan is particularly long or complicated, consider adding a table of contents or an appendix for reference. For an in-depth description of each step listed above, read “ How to Write a Business Plan Step by Step ” below.

Broadly speaking, your audience includes anyone with a vested interest in your organization. They can include potential and existing investors, as well as customers, internal team members, suppliers, and vendors.

Do I Need a Simple or Detailed Plan?

Your business’s stage and intended audience dictates the level of detail your plan needs. Corporations require a thorough business plan — up to 100 pages. Small businesses or startups should have a concise plan focusing on financials and strategy.

How to Choose the Right Plan for Your Business

In order to identify which type of business plan you need to create, ask: “What do we want the plan to do?” Identify function first, and form will follow.

Use the chart below as a guide for what type of business plan to create:

Is the Order of Your Business Plan Important?

There is no set order for a business plan, with the exception of the executive summary, which should always come first. Beyond that, simply ensure that you organize the plan in a way that makes sense and flows naturally.

The Difference Between Traditional and Lean Business Plans

A traditional business plan follows the standard structure — because these plans encourage detail, they tend to require more work upfront and can run dozens of pages. A Lean business plan is less common and focuses on summarizing critical points for each section. These plans take much less work and typically run one page in length.

In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean (or another Agile method ). Use Lean if you expect the company to pivot quickly or if you already employ a Lean strategy with other business operations. Additionally, a Lean business plan can suffice if the document is for internal use only. Stick to a traditional version for investors, as they may be more sensitive to sudden changes or a high degree of built-in flexibility in the plan.

How to Write a Business Plan Step by Step

Writing a strong business plan requires research and attention to detail for each section. Below, you’ll find a 10-step guide to researching and defining each element in the plan.

Step 1: Executive Summary

The executive summary will always be the first section of your business plan. The goal is to answer the following questions:

  • What is the vision and mission of the company?
  • What are the company’s short- and long-term goals?

See our  roundup of executive summary examples and templates for samples. Read our executive summary guide to learn more about writing one.

Step 2: Description of Business

The goal of this section is to define the realm, scope, and intent of your venture. To do so, answer the following questions as clearly and concisely as possible:

  • What business are we in?
  • What does our business do?

Step 3: Market Analysis

In this section, provide evidence that you have surveyed and understand the current marketplace, and that your product or service satisfies a niche in the market. To do so, answer these questions:

  • Who is our customer? 
  • What does that customer value?

Step 4: Competitive Analysis

In many cases, a business plan proposes not a brand-new (or even market-disrupting) venture, but a more competitive version — whether via features, pricing, integrations, etc. — than what is currently available. In this section, answer the following questions to show that your product or service stands to outpace competitors:

  • Who is the competition? 
  • What do they do best? 
  • What is our unique value proposition?

Step 5: Description of Organizational Management

In this section, write an overview of the team members and other key personnel who are integral to success. List roles and responsibilities, and if possible, note the hierarchy or team structure.

Step 6: Description of Products or Services

In this section, clearly define your product or service, as well as all the effort and resources that go into producing it. The strength of your product largely defines the success of your business, so it’s imperative that you take time to test and refine the product before launching into marketing, sales, or funding details.

Questions to answer in this section are as follows:

  • What is the product or service?
  • How do we produce it, and what resources are necessary for production?

Step 7: Marketing Plan

In this section, define the marketing strategy for your product or service. This doesn’t need to be as fleshed out as a full marketing plan , but it should answer basic questions, such as the following:

  • Who is the target market (if different from existing customer base)?
  • What channels will you use to reach your target market?
  • What resources does your marketing strategy require, and do you have access to them?
  • If possible, do you have a rough estimate of timeline and budget?
  • How will you measure success?

Step 8: Sales Plan

Write an overview of the sales strategy, including the priorities of each cycle, steps to achieve these goals, and metrics for success. For the purposes of a business plan, this section does not need to be a comprehensive, in-depth sales plan , but can simply outline the high-level objectives and strategies of your sales efforts. 

Start by answering the following questions:

  • What is the sales strategy?
  • What are the tools and tactics you will use to achieve your goals?
  • What are the potential obstacles, and how will you overcome them?
  • What is the timeline for sales and turning a profit?
  • What are the metrics of success?

Step 9: Funding Details (or Request for Funding)

This section is one of the most critical parts of your business plan, particularly if you are sharing it with investors. You do not need to provide a full financial plan, but you should be able to answer the following questions:

  • How much capital do you currently have? How much capital do you need?
  • How will you grow the team (onboarding, team structure, training and development)?
  • What are your physical needs and constraints (space, equipment, etc.)?

Step 10: Financial Projections

Apart from the fundraising analysis, investors like to see thought-out financial projections for the future. As discussed earlier, depending on the scope and stage of your business, this could be anywhere from one to five years. 

While these projections won’t be exact — and will need to be somewhat flexible — you should be able to gauge the following:

  • How and when will the company first generate a profit?
  • How will the company maintain profit thereafter?

Business Plan Template

Business Plan Template

Download Business Plan Template

Microsoft Excel | Smartsheet

This basic business plan template has space for all the traditional elements: an executive summary, product or service details, target audience, marketing and sales strategies, etc. In the finances sections, input your baseline numbers, and the template will automatically calculate projections for sales forecasting, financial statements, and more.

For templates tailored to more specific needs, visit this business plan template roundup or download a fill-in-the-blank business plan template to make things easy. 

If you are looking for a particular template by file type, visit our pages dedicated exclusively to Microsoft Excel , Microsoft Word , and Adobe PDF business plan templates.

How to Write a Simple Business Plan

A simple business plan is a streamlined, lightweight version of the large, traditional model. As opposed to a one-page business plan , which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.

Below are the steps for creating a generic simple business plan, which are reflected in the template below .

  • Write the Executive Summary This section is the same as in the traditional business plan — simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company. 
  • Add a Company Overview Document the larger company mission and vision. 
  • Provide the Problem and Solution In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. Think of this section as the gap in the market you are attempting to close.
  • Identify the Target Market Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas .
  • Write About the Competition In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage.
  • Describe Your Product or Service Offerings Get down to brass tacks and define your product or service. What exactly are you selling?
  • Outline Your Marketing Tactics Without getting into too much detail, describe your planned marketing initiatives.
  • Add a Timeline and the Metrics You Will Use to Measure Success Offer a rough timeline, including milestones and key performance indicators (KPIs) that you will use to measure your progress.
  • Include Your Financial Forecasts Write an overview of your financial plan that demonstrates you have done your research and adequate modeling. You can also list key assumptions that go into this forecasting. 
  • Identify Your Financing Needs This section is where you will make your funding request. Based on everything in the business plan, list your proposed sources of funding, as well as how you will use it.

Simple Business Plan Template

Simple Business Plan Template

Download Simple Business Plan Template

Microsoft Excel |  Microsoft Word | Adobe PDF  | Smartsheet

Use this simple business plan template to outline each aspect of your organization, including information about financing and opportunities to seek out further funding. This template is completely customizable to fit the needs of any business, whether it’s a startup or large company.

Read our article offering free simple business plan templates or free 30-60-90-day business plan templates to find more tailored options. You can also explore our collection of one page business templates . 

How to Write a Business Plan for a Lean Startup

A Lean startup business plan is a more Agile approach to a traditional version. The plan focuses more on activities, processes, and relationships (and maintains flexibility in all aspects), rather than on concrete deliverables and timelines.

While there is some overlap between a traditional and a Lean business plan, you can write a Lean plan by following the steps below:

  • Add Your Value Proposition Take a streamlined approach to describing your product or service. What is the unique value your startup aims to deliver to customers? Make sure the team is aligned on the core offering and that you can state it in clear, simple language.
  • List Your Key Partners List any other businesses you will work with to realize your vision, including external vendors, suppliers, and partners. This section demonstrates that you have thoughtfully considered the resources you can provide internally, identified areas for external assistance, and conducted research to find alternatives.
  • Note the Key Activities Describe the key activities of your business, including sourcing, production, marketing, distribution channels, and customer relationships.
  • Include Your Key Resources List the critical resources — including personnel, equipment, space, and intellectual property — that will enable you to deliver your unique value.
  • Identify Your Customer Relationships and Channels In this section, document how you will reach and build relationships with customers. Provide a high-level map of the customer experience from start to finish, including the spaces in which you will interact with the customer (online, retail, etc.). 
  • Detail Your Marketing Channels Describe the marketing methods and communication platforms you will use to identify and nurture your relationships with customers. These could be email, advertising, social media, etc.
  • Explain the Cost Structure This section is especially necessary in the early stages of a business. Will you prioritize maximizing value or keeping costs low? List the foundational startup costs and how you will move toward profit over time.
  • Share Your Revenue Streams Over time, how will the company make money? Include both the direct product or service purchase, as well as secondary sources of revenue, such as subscriptions, selling advertising space, fundraising, etc.

Lean Business Plan Template for Startups

Lean Business Plan Templates for Startups

Download Lean Business Plan Template for Startups

Microsoft Word | Adobe PDF

Startup leaders can use this Lean business plan template to relay the most critical information from a traditional plan. You’ll find all the sections listed above, including spaces for industry and product overviews, cost structure and sources of revenue, and key metrics, and a timeline. The template is completely customizable, so you can edit it to suit the objectives of your Lean startups.

See our wide variety of  startup business plan templates for more options.

How to Write a Business Plan for a Loan

A business plan for a loan, often called a loan proposal , includes many of the same aspects of a traditional business plan, as well as additional financial documents, such as a credit history, a loan request, and a loan repayment plan.

In addition, you may be asked to include personal and business financial statements, a form of collateral, and equity investment information.

Download free financial templates to support your business plan.

Tips for Writing a Business Plan

Outside of including all the key details in your business plan, you have several options to elevate the document for the highest chance of winning funding and other resources. Follow these tips from experts:.

  • Keep It Simple: Avner Brodsky , the Co-Founder and CEO of Lezgo Limited, an online marketing company, uses the acronym KISS (keep it short and simple) as a variation on this idea. “The business plan is not a college thesis,” he says. “Just focus on providing the essential information.”
  • Do Adequate Research: Michael Dean, the Co-Founder of Pool Research , encourages business leaders to “invest time in research, both internal and external (market, finance, legal etc.). Avoid being overly ambitious or presumptive. Instead, keep everything objective, balanced, and accurate.” Your plan needs to stand on its own, and you must have the data to back up any claims or forecasting you make. As Brodsky explains, “Your business needs to be grounded on the realities of the market in your chosen location. Get the most recent data from authoritative sources so that the figures are vetted by experts and are reliable.”
  • Set Clear Goals: Make sure your plan includes clear, time-based goals. “Short-term goals are key to momentum growth and are especially important to identify for new businesses,” advises Dean.
  • Know (and Address) Your Weaknesses: “This awareness sets you up to overcome your weak points much quicker than waiting for them to arise,” shares Dean. Brodsky recommends performing a full SWOT analysis to identify your weaknesses, too. “Your business will fare better with self-knowledge, which will help you better define the mission of your business, as well as the strategies you will choose to achieve your objectives,” he adds.
  • Seek Peer or Mentor Review: “Ask for feedback on your drafts and for areas to improve,” advises Brodsky. “When your mind is filled with dreams for your business, sometimes it is an outsider who can tell you what you’re missing and will save your business from being a product of whimsy.”

Outside of these more practical tips, the language you use is also important and may make or break your business plan.

Shaun Heng, VP of Operations at Coin Market Cap , gives the following advice on the writing, “Your business plan is your sales pitch to an investor. And as with any sales pitch, you need to strike the right tone and hit a few emotional chords. This is a little tricky in a business plan, because you also need to be formal and matter-of-fact. But you can still impress by weaving in descriptive language and saying things in a more elegant way.

“A great way to do this is by expanding your vocabulary, avoiding word repetition, and using business language. Instead of saying that something ‘will bring in as many customers as possible,’ try saying ‘will garner the largest possible market segment.’ Elevate your writing with precise descriptive words and you'll impress even the busiest investor.”

Additionally, Dean recommends that you “stay consistent and concise by keeping your tone and style steady throughout, and your language clear and precise. Include only what is 100 percent necessary.”

Resources for Writing a Business Plan

While a template provides a great outline of what to include in a business plan, a live document or more robust program can provide additional functionality, visibility, and real-time updates. The U.S. Small Business Association also curates resources for writing a business plan.

Additionally, you can use business plan software to house data, attach documentation, and share information with stakeholders. Popular options include LivePlan, Enloop, BizPlanner, PlanGuru, and iPlanner.

How a Business Plan Helps to Grow Your Business

A business plan — both the exercise of creating one and the document — can grow your business by helping you to refine your product, target audience, sales plan, identify opportunities, secure funding, and build new partnerships. 

Outside of these immediate returns, writing a business plan is a useful exercise in that it forces you to research the market, which prompts you to forge your unique value proposition and identify ways to beat the competition. Doing so will also help you build (and keep you accountable to) attainable financial and product milestones. And down the line, it will serve as a welcome guide as hurdles inevitably arise.

Streamline Your Business Planning Activities with Real-Time Work Management in Smartsheet

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How to Write a Business Plan: Step-by-Step Guide + Examples

Determined female African-American entrepreneur scaling a mountain while wearing a large backpack. Represents the journey to starting and growing a business and needing to write a business plan to get there.

Noah Parsons

24 min. read

Updated February 2, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

  • The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

  • Raise money
  • Grow strategically
  • Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

What’s your biggest business challenge right now?

  • What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

  • A summary of the problem you are solving
  • A description of your product or service
  • An overview of your target market
  • A brief description of your team
  • A summary of your financials
  • Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

  • Supply chain management
  • Manufacturing processes
  • Equipment and technology
  • Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

  • A description of each task
  • The proposed due date
  • Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

  • Website launch date
  • Store or office opening date
  • First significant sales
  • Break even date
  • Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

  • Conversion rates
  • Customer acquisition costs
  • Profit per customer
  • Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

  • Sole proprietor
  • Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

  • Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
  • Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
  • Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
  • Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
  • Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

  • Company logo
  • Business name
  • Value proposition (optional)
  • Business plan title
  • Completion and/or update date
  • Address and contact information
  • Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: How to collaborate with AI on your business plan

  • Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information you need to cover in a business plan sometimes isn’t quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

If you’re looking for a free downloadable business plan template to get you started, download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

  • Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
  • Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
  • Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
  • Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
  • Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

  • Did you meet your sales goals?
  • Is spending following your budget?
  • Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

  • Write a brief executive summary
  • Describe your products and services.
  • Conduct market research and compile data into a cohesive market analysis.
  • Describe your marketing and sales strategy.
  • Outline your organizational structure and management team.
  • Develop financial projections for sales, revenue, and cash flow.
  • Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

  • 1. Not taking the planning process seriously.
  • Having unrealistic financial projections or incomplete financial information.
  • Inconsistent information or simple mistakes.
  • Failing to establish a sound business model.
  • Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

  • How will your business make money?
  • Is there a need for your product or service?
  • Who are your customers?
  • How are you different from the competition?
  • How will you reach your customers?
  • How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

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Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

the management plan in a business plan

Table of Contents

  • Use AI to help write your plan
  • Common planning mistakes
  • Manage with your business plan
  • Templates and examples

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How to Write a Management Plan

Last Updated: September 18, 2023 Fact Checked

This article was co-authored by Madison Boehm . Madison Boehm is a Business Advisor and the Co-Founder of Jaxson Maximus, a men’s salon and custom clothiers based in southern Florida. She specializes in business development, operations, and finance. Additionally, she has experience in the salon, clothing, and retail sectors. Madison holds a BBA in Entrepreneurship and Marketing from The University of Houston. There are 9 references cited in this article, which can be found at the bottom of the page. This article has been fact-checked, ensuring the accuracy of any cited facts and confirming the authority of its sources. This article has been viewed 232,384 times.

A management plan describes how an organization or business is run. Writing a management plan allows you to formalize your management structure and operations. It also ensures that everyone is on the same page and that your goals will be accomplished. You can easily write your own management plan with a few simple steps.

Management Plan Outline and Example

the management plan in a business plan

Starting Your Management Plan

Step 1 Determine the need for a management plan.

  • Defining roles also creates accountability by making it clear who's fault it was that something did or did not happen. [3] X Trustworthy Source Kansas University Center for Community Health and Development Community-based research center focused on supporting public health development and education Go to source

Step 2 Outline your plan.

  • A section detailing management members and their responsibilities and authorities.
  • A chart of section detailing interactions between and responsibilities of each level of the organization.
  • A section explaining different aspects of your organization being managed and the policies and procedures of that management.
  • A schedule for updating, enhancing, and growing management and the management plan. [6] X Research source

Step 3 Describe your management structure.

Describing Ownership and Management

Step 1 Note what type of ownership policies are in place.

  • Include a copy of board policies, including election policies, term length, responsibility, authority, and conflict resolution. This information should already be stated in your operating agreement or other founding documents.

Step 3 Introduce the key management members.

  • List past positions and duties of each member that apply to their current management obligations. Explain how these obligations highlight applicable skills and strengthen the management positions.
  • Highlight all relevant educational backgrounds for each of the managers. Explain how their training will benefit the company. Only include the education that is relevant to the positions that they currently hold.
  • If you are the only employee in your business, be sure to include your own experience and strengths.

Step 5 Describe the hiring process.

  • Accountants.
  • Insurance brokers.
  • Consultants.

Step 7 Summarize your management team's abilities.

  • For example, “Our team, with its diverse array of skills, have a combined forty years of experience in this field. With our coordinated democratic structure, they can work together effectively to produce results. With this team, we are confident that our business will become profitable in two years.”

Step 8 Describe relationships between management, ownership, and employees.

Writing Out Policies and Procedures

Step 1 Consider your need for written policies.

  • For example, a policy might be using and selling only green materials and products. The procedures to support that policy might be shopping from approved green vendors or checking the environmental impact of each material or product used.

Step 4 Check that the policies fit in with your culture and philosophy.

Revising Your Plan

Step 1 Proofread your plan carefully.

  • When they approve, have all owners sign the plan before you submit it to your investors, bank, or fundraising bodies.

Step 5 Make a commitment to amend your plan as necessary.

  • Make sure there is a way for all management and employees to submit their feedback regarding the plan.
  • Then, create a method by which changes to the plan can be approved and instituted. [20] X Trustworthy Source Kansas University Center for Community Health and Development Community-based research center focused on supporting public health development and education Go to source

Expert Q&A

Madison Boehm

  • Many investors will read the management section of your business plan before any other section, including marketing and finances, so you want to make sure that you have the best proposal possible. Thanks Helpful 0 Not Helpful 0

the management plan in a business plan

  • Do not neglect your management plan in favor of your financial plans. Both are equally important to a business plan. Thanks Helpful 0 Not Helpful 1

You Might Also Like

Write a Business Plan

  • ↑ Madison Boehm. Business Advisor, Jaxson Maximus. Expert Interview. 24 August 2021.
  • ↑ http://ctb.ku.edu/en/table-of-contents/leadership/effective-manager/management-plan/main
  • ↑ https://www.brown.edu/research/conducting-research-brown/preparing-proposal/proposal-development-services/writing-management-plan
  • ↑ https://www.thebalance.com/how-to-write-the-management-summary-2951561
  • ↑ https://open.lib.umn.edu/humanresourcemanagement/chapter/4-1-the-recruitment-process/
  • ↑ https://www.entrepreneur.com/article/241072
  • ↑ https://writingcenter.unc.edu/tips-and-tools/editing-and-proofreading/
  • ↑ http://www.businessnewsdaily.com/4533-business-plan-outline.html

About This Article

Madison Boehm

The best way to write a management report is to describe the company’s management structure in 10 to 20 pages. Name the board members and explain the company’s ownership policies. Introduce all management members and present the strengths of each team member. Then, write out workplace policies and procedures. Send the management report to the company’s bank, investors, or fundraising bodies. For more tips from our Financial Reviewer, like how to outline, format, and revise your plan, read on! Did this summary help you? Yes No

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, how often should a business plan be updated, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

the management plan in a business plan

A business plan is a document that details a company's goals and how it intends to achieve them. Business plans can be of benefit to both startups and well-established companies. For startups, a business plan can be essential for winning over potential lenders and investors. Established businesses can find one useful for staying on track and not losing sight of their goals. This article explains what an effective business plan needs to include and how to write one.

Key Takeaways

  • A business plan is a document describing a company's business activities and how it plans to achieve its goals.
  • Startup companies use business plans to get off the ground and attract outside investors.
  • For established companies, a business plan can help keep the executive team focused on and working toward the company's short- and long-term objectives.
  • There is no single format that a business plan must follow, but there are certain key elements that most companies will want to include.

Investopedia / Ryan Oakley

Any new business should have a business plan in place prior to beginning operations. In fact, banks and venture capital firms often want to see a business plan before they'll consider making a loan or providing capital to new businesses.

Even if a business isn't looking to raise additional money, a business plan can help it focus on its goals. A 2017 Harvard Business Review article reported that, "Entrepreneurs who write formal plans are 16% more likely to achieve viability than the otherwise identical nonplanning entrepreneurs."

Ideally, a business plan should be reviewed and updated periodically to reflect any goals that have been achieved or that may have changed. An established business that has decided to move in a new direction might create an entirely new business plan for itself.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. These include being able to think through ideas before investing too much money in them and highlighting any potential obstacles to success. A company might also share its business plan with trusted outsiders to get their objective feedback. In addition, a business plan can help keep a company's executive team on the same page about strategic action items and priorities.

Business plans, even among competitors in the same industry, are rarely identical. However, they often have some of the same basic elements, as we describe below.

While it's a good idea to provide as much detail as necessary, it's also important that a business plan be concise enough to hold a reader's attention to the end.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, it's best to fit the basic information into a 15- to 25-page document. Other crucial elements that take up a lot of space—such as applications for patents—can be referenced in the main document and attached as appendices.

These are some of the most common elements in many business plans:

  • Executive summary: This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
  • Products and services: Here, the company should describe the products and services it offers or plans to introduce. That might include details on pricing, product lifespan, and unique benefits to the consumer. Other factors that could go into this section include production and manufacturing processes, any relevant patents the company may have, as well as proprietary technology . Information about research and development (R&D) can also be included here.
  • Market analysis: A company needs to have a good handle on the current state of its industry and the existing competition. This section should explain where the company fits in, what types of customers it plans to target, and how easy or difficult it may be to take market share from incumbents.
  • Marketing strategy: This section can describe how the company plans to attract and keep customers, including any anticipated advertising and marketing campaigns. It should also describe the distribution channel or channels it will use to get its products or services to consumers.
  • Financial plans and projections: Established businesses can include financial statements, balance sheets, and other relevant financial information. New businesses can provide financial targets and estimates for the first few years. Your plan might also include any funding requests you're making.

The best business plans aren't generic ones created from easily accessed templates. A company should aim to entice readers with a plan that demonstrates its uniqueness and potential for success.

2 Types of Business Plans

Business plans can take many forms, but they are sometimes divided into two basic categories: traditional and lean startup. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

  • Traditional business plans : These plans tend to be much longer than lean startup plans and contain considerably more detail. As a result they require more work on the part of the business, but they can also be more persuasive (and reassuring) to potential investors.
  • Lean startup business plans : These use an abbreviated structure that highlights key elements. These business plans are short—as short as one page—and provide only the most basic detail. If a company wants to use this kind of plan, it should be prepared to provide more detail if an investor or a lender requests it.

Why Do Business Plans Fail?

A business plan is not a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections to begin with. Markets and the overall economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All of this calls for building some flexibility into your plan, so you can pivot to a new course if needed.

How frequently a business plan needs to be revised will depend on the nature of the business. A well-established business might want to review its plan once a year and make changes if necessary. A new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is an option when a company prefers to give a quick explanation of its business. For example, a brand-new company may feel that it doesn't have a lot of information to provide yet.

Sections can include: a value proposition ; the company's major activities and advantages; resources such as staff, intellectual property, and capital; a list of partnerships; customer segments; and revenue sources.

A business plan can be useful to companies of all kinds. But as a company grows and the world around it changes, so too should its business plan. So don't think of your business plan as carved in granite but as a living document designed to evolve with your business.

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

U.S. Small Business Administration. " Write Your Business Plan ."

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How to Write the Management Team Section of a Business Plan + Examples

Written by Dave Lavinsky

management hierarchy

Over the last 20+ years, we’ve written business plans for over 4,000 companies and hundreds of thousands of others have used our business plan template and other business planning materials.

From this vast experience, we’ve gained valuable insights on how to write a business plan effectively , specifically in the management section.

What is a Management Team Business Plan?

A management team business plan is a section in a comprehensive business plan that introduces and highlights the key members of the company’s management team. This part provides essential details about the individuals responsible for leading and running the business, including their backgrounds, skills, and experience.

It’s crucial for potential investors and stakeholders to evaluate the management team’s competence and qualifications, as a strong team can instill confidence in the company’s ability to succeed.

Why is the Management Team Section of a Business Plan Important?

Your management team plan has 3 goals:

  • To prove to you that you have the right team to execute on the opportunity you have defined, and if not, to identify who you must hire to round out your current team
  • To convince lenders and investors (e.g., angel investors, venture capitalists) to fund your company (if needed)
  • To document how your Board (if applicable) can best help your team succeed

What to Include in Your Management Team Section

There are two key elements to include in your management team business plan as follows:

Management Team Members

For each key member of your team, document their name, title, and background.

Their backgrounds are most important in telling you and investors they are qualified to execute. Describe what positions each member has held in the past and what they accomplished in those positions. For example, if your VP of Sales was formerly the VP of Sales for another company in which they grew sales from zero to $10 million, that would be an important and compelling accomplishment to document.

Importantly, try to relate your team members’ past job experience with what you need them to accomplish at your company. For example, if a former high school principal was on your team, you could state that their vast experience working with both teenagers and their parents will help them succeed in their current position (particularly if the current position required them to work with both customer segments).

This is true for a management team for a small business, a medium-sized or large business.

Management Team Gaps

In this section, detail if your management team currently has any gaps or missing individuals. Not having a complete team at the time you develop your business plan. But, you must show your plan to complete your team.

As such, describe what positions are missing and who will fill the positions. For example, if you know you need to hire a VP of Marketing, state this. Further, state the job description of this person. For example, you might say that this hire will have 10 years of experience managing a marketing team, establishing new accounts, working with social media marketing, have startup experience, etc.

To give you a “checklist” of the employees you might want to include in your Management Team Members and/or Gaps sections, below are the most common management titles at a growing startup (note that many are specific to tech startups):

  • Founder, CEO, and/or President
  • Chief Operating Officer
  • Chief Financial Officer
  • VP of Sales
  • VP of Marketing
  • VP of Web Development and/or Engineering
  • UX Designer/Manager
  • Product Manager
  • Digital Marketing Manager
  • Business Development Manager
  • Account Management/Customer Service Manager
  • Sales Managers/Sales Staff
  • Board Members

If you have a Board of Directors or Board of Advisors, you would include the bios of the members of your board in this section.

A Board of Directors is a paid group of individuals who help guide your company. Typically startups do not have such a board until they raise VC funding.

If your company is not at this stage, consider forming a Board of Advisors. Such a board is ideal particularly if your team is missing expertise and/or experience in certain areas. An advisory board includes 2 to 8 individuals who act as mentors to your business. Usually, you meet with them monthly or quarterly and they help answer questions and provide strategic guidance. You typically do not pay advisory board members with cash, but offering them options in your company is a best practice as it allows you to attract better board members and better motivate them.

Management Team Business Plan Example

Below are examples of how to include your management section in your business plan.

Key Team Members

Jim Smith, Founder & CEO

Jim has 15 years of experience in online software development, having co-founded two previous successful online businesses. His first company specialized in developing workflow automation software for government agencies and was sold to a public company in 2003. Jim’s second company developed a mobile app for parents to manage their children’s activities, which was sold to a large public company in 2014. Jim has a B.S. in computer science from MIT and an M.B.A from the University of Chicago

Bill Jones, COO

Bill has 20 years of sales and business development experience from working with several startups that he helped grow into large businesses. He has a B.S. in mechanical engineering from M.I.T., where he also played Division I lacrosse for four years.

We currently have no gaps in our management team, but we plan to expand our team by hiring a Vice President of Marketing to be responsible for all digital marketing efforts.

Vance Williamson, Founder & CEO

Prior to founding GoDoIt, Vance was the CIO of a major corporation with more than 100 retail locations. He oversaw all IT initiatives including software development, sales technology, mobile apps for customers and employees, security systems, customer databases/CRM platforms, etc. He has a  B.S in computer science and an MBA in operations management from UCLA.

We currently have two gaps in our Management Team: 

A VP of Sales with 10 years of experience managing sales teams, overseeing sales processes, working with manufacturers, establishing new accounts, working with digital marketing/advertising agencies to build brand awareness, etc. 

In addition, we need to hire a VP of Marketing with experience creating online marketing campaigns that attract new customers to our site.

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Other Resources for Writing Your Business Plan

  • How to Write an Executive Summary
  • How to Expertly Write the Company Description in Your Business Plan
  • How to Write the Market Analysis Section of a Business Plan
  • The Customer Analysis Section of Your Business Plan
  • Completing the Competitive Analysis Section of Your Business Plan
  • Financial Assumptions and Your Business Plan
  • How to Create Financial Projections for Your Business Plan
  • Everything You Need to Know about the Business Plan Appendix
  • Business Plan Conclusion: Summary & Recap

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Business Plan Template & Guide for Small Businesses

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Tips on Writing the Management Team Section of a Business Plan

Ultimate Guide On Writing A Business Plan

Free Ultimate Guide On Writing A Business Plan

  • December 21, 2023

10 Min Read

Management Section

A business is as efficient as its team and its management. It, therefore, becomes important for business owners to build a structured management team that achieves the objectives and goals set by the organization. Thus, making the management section of a business plan the most essential component.

Andrew Carnegie , an American steel magnate, beautifully summarized it –

Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.

A business management plan helps build an efficient team and formalize business operations . This helps businesses streamline strategies to achieve their goals.

It, therefore, becomes imperative that business owners pay utmost importance while writing the management section of a business plan.

So, if you are a business owner who is looking to formalize their business structure and write the management team section in their business plan , this guide is for you.

Here’s a sneak peek into what you’ll learn:

Table of Contents

  • What Is the Management Section?
  • Importance of the Management Section
  • What to Include in the Management Section?
  • Example of a Management Section Plan
  • Ensure That the Management Section Is Fool-proof?

Sounds good? Let’s dive in.

What Is The Management Section Of A Business Plan?

The management section of a business plan is an in-depth description of a business’s team, its structure, and the ownership of a business.

The section discusses in detail who is on the management team – internal and external- their skill sets, experiences, and how meaningfully they would contribute to an organization’s goals and outcomes.

Now that we have defined what is the management section of a business plan, let’s understand why it is so important.

The Importance Of The Management Section Of A Business Plan

The management section helps you to:

1. Convince your investors (banks and government agencies) to disburse loans and grants for your business idea

2. Prove that your management team can execute your idea and if not, help hire the right fit for a position

3. Share how your advisory board can help your team succeed

What To Include In the Management Section Of A Business Plan?

The management section of a business plan helps in formalizing and structuring the management team plan and is comprised of

  • The Management Team
  • The Management Team Gaps
  • The Management Structure

Let’s understand them in detail.

1. The Management Team

An organization’s entire management team can be divided into parts – the internal team and the external team.

The Internal Management Team

A business team consists of several departments. The most common departments are – Marketing, Sales, IT, Customer Service, Operations, Finance, and HR.

These departments may or may not be required. It purely depends on the nature and functioning of your business. For example, a dental clinic may not require a sales department per se.

The entire management team is compartmentalized according to their responsibility. This helps the business owners and investors be aware of the roles, benefits, ESOPs (if applicable), profit sharing (for sales), work contracts, NDAs (Non-Disclosure Agreements), and Non-Competition Agreements of the entire team.

It is recommended that business owners collect and document the following information about their team:

  • Educational Background
  • Work Experience
  • Accomplishments

The Internal Management Team

For example, your present VP of Marketing helped their previous company grow its bottom line from $3 million to $10 million over 18 months.

The External Management Team

The external management team is usually composed of – Advisory Board Members and Professional Services.

Advisory board members help by :

  • Establishing trust, showing results, and experiencing the table.
  • Increasing the confidence of investors and consumers.

This helps attract talented employees to the team. Credible advisory board members show great commitment to a company’s growth. Therefore, it becomes important to document their experience and specialization in the business management plan. The advisory board members can help give valuable advice that internal team members need or lack.

If your business has not or will not have VC funding, you may not require board members on your team.

Usually, board members meet quarterly or monthly to provide strategic guidance in place of stock options in your company. This helps attract the best advisors and motivates them to invest in your business.

For example, founders and business owners coming to raise funds in Shark Tank , a business television series, are looking for advisory members who would invest money and provide guidance on necessary steps.

On the other hand, Professional Service helps by

  • Offering highly specialized advice and sharing knowledge.
  • Business owners make key strategic management decisions.

Such services help businesses leverage skills that would be difficult to build and acquire over a short period.

Examples of such professional services are

Examples of such professional services

  • IT Consultants
  • Business coaches and consultants

After a brief overview of the Management Team of an organization, let’s dive into what to include in Management Team Gaps.

2. The Management Team Gaps

The management team gap is an important part of the management section. Primarily because it helps document if your management team currently has gaps or missing skills. Your team may lack a few required skills while starting. The management team gaps help you to be aware and make efforts to close this gap.

As a business owner, you must document what positions are missing and who ought to fill that positions or take responsibility.

For example, if you need a VP of Sales, clearly document this in the section.

Also, write down the job description and key responsibilities to be undertaken,

Example – You might mention that role required 10 years of experience in the sales domain. The applicant must have experience handling a sales team, closing new accounts, working in tandem with the marketing team, and having relevant startup experience.

Be as detailed as possible. This will help you build a checklist while interviewing the right candidate and also win investor confidence in your managerial skills.

Following are a few key positions you would want to include in your management team:

  • Founder and/or, CEO
  • Chief Technical Officer (CTO)
  • Chief Marketing Officer (CMO)
  • Chief Operating Officer (COO)
  • Chief Financial Officer (CFO)
  • Chief Human Resources Officer (CHRO)
  • Head of Product Management (PM)
  • VP of Sales
  • VP of Marketing
  • UX Designer
  • Digital Marketing Manager
  • Business Development Manager
  • Customer Service Manager
  • Customer Success Manager
  • Sales Managers/Sales Staff
  • Advisory Board Members

Let’s dive into the nitty-gritty of the management structure.

3. The Management Structure

The management structure defines how a business organizes its management hierarchy. A hierarchy helps determine the roles, positions, power, and responsibilities of all team members.

The management structure also depends upon the type of business ownership. Business ownership can be – a sole proprietorship, partnership, or simply an LLC.

Following is a sample management structure of an organization.

The Management Structure

Now that we understand what details we need to document in the business management plan, let’s look at a few examples of the management plan.

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Example Of A Management Section Plan

[management section of a hotel], [management team], internal team members.

Name: Charles Fargo Role: Owner Responsibility: Formulating key strategies, defining budgets , and building a business plan Experience: 35 years of owning multiple hotels in Las Vegas Educational Background: B.Sc in Hospitality Management from South Dakota State University.

Name: Michael Clark Role: General Manager Responsibility: Overall hotel operations – guest interactions, revenue management, brand ambassador of the hotel, customer satisfaction, and experience, leadership to all departments Experience: 25 years working with several technology hotels as the general manager. Educational Background: MBA from Wharton School

Name: George Trump Role: Department Manager Responsibility: Manage employees, smooth coordination amongst employees, plan daily affairs of the department, strategize, prepare reports, and deal with complaints and suggestions. Lead team members to function as a team Experience: 15 years working as a department manager Educational Background: BSc in Hotel Management from Texas University

Note: There can be multiple Department Managers depending on the nature of your business. In the case of hotels, departments can include – housekeeping, logistics, security, food, and banquets.

Name: Donald Clooney Role: Marketing and Sales Manager Responsibility: Increase occupancy and generate revenue. Position the hotel as an option for leisure activities, relaxation, and holidays. Experience: 11 years working as the marketing and sales manager for hotels Educational Background: MBA in Tourism and Hospitality from Midway University

External Team Members

Advisory Board Member

#1 Richard Branson Responsibility: Strategic advisory for sustainable growth and expansion Experience: Founder of Virgin Group

Professional Services

[management structure].

Example Of A Management Section Plan

There is a gap in one key position in our startup.

#1 Chief Finance Officer (CFO) Responsibilities: Finance, Accounting, Tracking Profit and Loss, and overseeing FP&A (Financial Planning and Analysis)

How To Ensure That The Management Section Of Your Business Plan Is Fool-Proof?

“In preparing for battle I have always found that plans are useless, but planning is indispensable.” ― Dwight D. Eisenhower

By building a fool-proof management plan and ensuring that all the intricate details are accounted for, we can ensure that your business has a greater chance of succeeding.

Business planning software like Upmetrics ensures that business owners, like you, get the management section planning correct on the first attempt itself.

You can also get started with a free demo today to discover how Upmetrics can help you plan your business in a breeze.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Management Plan: Definition, Benefits & How To Create One?

' src=

  “A goal without a plan is just a wish.” 

In any business, you may have multiple operations running at any given time.

It’s necessary to stay on track with all these operations and the management of a firm plays a pivotal role in making sure they are carried out smoothly.  

Managers need to be two steps ahead and prepare for any possible threats and anticipate upcoming changes.

For this a management plan needs to be in place, without it, you become vulnerable to changing trends that can threaten our business.

Management plans will help address a variety of issues, not just during the initial phases of an operation but throughout its execution.

Simply put, a management plan ensures that everything operates smoothly.

The good news is that setting up a management plan will help you optimize all your processes.

The bad news? Creating a management plan usually trips most managers. But that’s why we’re here to not let you fall into the same traps that most managers get themselves into.

Read on and soon you’ll become a management plan expert…

What is a Management Plan? (Definition)

A management plan is a comprehensive plan that provides the objectives of any given project, clearly defines roles and responsibilities, and more to make sure it’s a success!

Your management plan is a resource that everyone in the firm can use for better guidance.

the management plan in a business plan

It is a blueprint for the way your organization runs, both day-to-day and over the long term.

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A management plan generally outlines:

  • the aims and objectives of a firm — what are we trying to achieve?
  • the strategies used to meet the objectives — how will we achieve it?
  • the methods used to measure performance — how will we know if we are achieving it?

No matter the size of your organization, the core intent of your management plan will be to ensure that the organization is running as effectively as possible.

Let’s dive a little deeper and get to know management plans better…

Benefits Of A Management Plan

To make sure that an organization is working smoothly, a lot of processes need to be handled simultaneously.

If you leave everything for the last minute, hoping that it all works out when the problems arise, you’d be in deep waters.

So to keep up with daily tasks, manage emergencies as they arise, and to not let projects slip through, you need a management plan.

There are a lot of benefits of having a management plan in place, some of them are:

  • Defines roles and responsibilities so everyone knows what’s expected of them : Employees need to know who their reporting managers are, who they should consult and go to in case of any need of information. They also need to be aware of the limits of their work, when they need a sign-off from some authority, and when they don’t. All of this can be easily done with the use of a management plan.
  • Allocates Tasks : A management plan also divides the work within an organization in reasonable and feasible ways, so that everyone is not only achieving their goals but also doing them in a way that doesn’t burn them out.
  • Increases accountability : When tasks and duties are determined, people can be easily accounted for. If daily tasks are not being attained within the allocated time, then the internal team is failing whereas if the CSR activities are not being conducted, then it’s the management who’s failing.
  • Creates an effective timeline: A management plan creates a timeline that ensures that bills are being paid on time, staff members are where they’re supposed to be to provide the organization’s services, funding proposals get written and submitted, problems are quickly dealt with, and as a result, the organization functions effectively.
  • It helps the organization define itself: The management plan establishes a solid plan that aligns with the organization’s mission and philosophy. This helps the organization to never forget about its core beliefs and communicate this with clarity to its staff, its customers, and the community as a whole.

Read more:  What Is Change Management And How To Cope With It?

How To Create A Sound Management Plan? (With Steps)

Step 1. executive summary .

An executive summary is how you start your management plan.

It offers a brief overview of all the key components of the management plan. Be as concise as possible and keep your main points in mind as you write the summary.

Not every point needs to be included here but you need to ensure that the major ones are covered briefly. This summary should easily be understood and comprehended by people even if they don’t visit the entirety of the management plan.

Step 2. Vision Statement 

The next step is to mention your vision statement . The vision statement is intended as a guide to help the organization make decisions that align with its philosophy and declared set of goals.

Vision statements are often confused with mission statements, but they generally serve long-term purposes whereas mission is more myopic.

Step 3. Mission Statement 

The mission statement is a clear statement of what your organization does and how it will be managed. The mission statement describes:

  • purpose of the facility — what is our business?
  • why does it exist — what is our underlying philosophy?
  • what it has to offer — what services or products do we provide?
  • who will use it — what is our target group?

This helps to ensure that your team is committed to the mission. Both the vision and mission reflect the aspirations of the stakeholders.

Step 4. Goals

Once the mission and vision statement has been established, the next step is to work out how to achieve it. It is vital to identify the goals that will help you get to your mission. Goals reflect what you aim to achieve and give direction to your organization.

the management plan in a business plan

Goals are usually broad statements that have no time frames.

Step 5. Key Performance Areas 

Key performance areas (KPA) focus on general areas of operation within an organization, where the desired outcome is required over the period of the management plan’s execution.

There are many key performance areas in your organization, you need to mention them all separately. Some of these KPAs are:

  • Administration
  • Human Resources

Create a separate section for each one of them and mention what tasks are expected of them to attain your goals.

Step 6. Mention Policies & Procedures

You need certain policies and procedures in place, to formalize the operations across your organization.

This helps to create consistency and a cohesive environment. You can include working hours, dress codes, leaves, and more, depending on the needs and size of your organization, take your time to define policies.

Step 7. Future Considerations

Every business is at a constant threat of surprises. Thus, you need to base all certain future projections on these unknown problems. For example:

  • What resources will be required to remain competitive in a technological sense?
  • What building extensions, modifications, or upgrades to your facility will be required in the future?

Step 8. Revisit Your Plan

Your management plan needs to be super-professional and free of any errors as it is a representation of what your organization stands for.

Check for any typos, ask someone else to take a look and proofread it. Make sure that each owner gets a copy. They may send you edits and revisions too. Consider all these carefully and create a powerful, full-proof management plan.

the management plan in a business plan

This way you’ll be prepared for unprecedented times and your employees can be ready for what’s expected of them.

Creating a management plan without an intuitive and robust tool can be overbearing on any person.

Gone are the days of boring management plans, today we want something enticing and informative. How can you do that?

Bit.ai is the answer! Let us tell you more…

Create Your Management Plan The Right Way With Bit.ai

Bit.ai is a new age online document collaboration tool that helps anyone create an awesome management plan or any other document, in minutes.

Bit.ai: Document collaboration tool

Take a look at some of the many wonderful Bit features:

Real-Time Collaboration: When working on a document as comprehensive as a management plan, it’s obvious that you’ll be working with a team. At such times, it’s more important than ever to have a seamless collaboration experience! Bit facilitates exactly that with its real-time collaboration feature that lets you work on the same document together, comment to exchange ideas and chat on the side.

Smart Workspaces: On Bit.ai, you can create as many workspaces as you want around different teams and communicate in a much better way. For example, once the management plan is created, you can send the document to other owners for approval. And after their approval, you can send it to all the departments within a few clicks!

Media Integrations: No more hopping from one app to the other in search of information, Bit.ai integrates with over 100+ popular applications (YouTube, Typeform, LucidChart, Spotify, Google Drive, etc.) to help teams weave information in their management plan beyond just text and images.

Sleek Editor: Creating a management plan requires constant revisions and edits, with Bit’s minimal document editor, you can write your management plan without the distraction of unnecessary buttons and tabs. And given its simple design, you won’t have to spend hours creating your report.

Sharing: Bit documents can be shared in a way that all changes that you make to the document will be updated in real-time. If you are sharing your management plan with anyone, they will always get your latest changes. Interesting right?

A plethora of features: With many intriguing templates , document tracking, cloud-upload, document locking, and a myriad of such features, BIt is an all-rounded tool for all your documentation needs!

Trust us, your data is secure here and your work will become more efficient than ever with Bit, and given its free plan, it’d be a shame not to give it a try!

Our team at  bit.ai  has created a few awesome business templates to make your business processes more efficient. Make sure to check them out before you go, y our team might need them!

  • SWOT Analysis Template
  • Business Proposal Template
  • Business Plan Template
  • Competitor Research Template
  • Project Proposal Template
  • Company Fact Sheet
  • Executive Summary Template
  • Operational Plan Template
  • Pitch Deck Template

Conclusion 

Effective management only comes after careful planning,

Your employees need to know how they can achieve the goals, the methods they need to use, and more for the smooth functioning of your projects.

Management plans offer that!

Having a management plan will shape your organization the way you want to and you’ll be able to improve your offerings too!

And trust us, there is no way around management plans, sooner or later you’ll realize their importance. With our tips and Bit by your side, you can create your management plans from scratch with precision and ease.

We suggest you get on with your management plan now and you’ll see the results they come bearing!

Have any queries? Tweet us @bit_docs and we’d love to hear from you and help you out with your management plan needs!

Further reads: 

Resource Management Plan: What is it & How to Create it?

13 Types of Plans Your Business Must Have!

Management Report: What is it & How to Create it?

Mitigation Plan: What Is It & How To Create One?

Implementation Plan: What is it & How to Create it? (Steps & Process)

Business Development Plan: What is it & How to Create a Perfect One?

Process Improvement Plan: What is it & How to Create It? (Steps Included)

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Annual Report: What is it & How to Create it?

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Management and Human Resources Business Plans

The management portion of your business plan, the hr portion of your business plan, frequently asked questions (faqs).

As a startup, it’s never easy to come up with a business plan, let alone the management and human resources sections of a business plan. Despite that, it’s important that you start your business plan for human resources as soon as possible. Doing so gives your management goals a plan that will guide you and keep your business on track as it grows. 

The key components of your human resources business plan should include your organizational structure, the philosophy and needs of your HR department, the number of employees you want to hire, how you plan to manage them, and all the estimated costs related with personnel.

You’ll want to start your HR business plan by outlining your own managerial experience and skills as well as those of your team. Highlight the roles of each member of your team, and any particular areas of strength or deficiency in your personnel lineup. For example, your HR team may be strong in compliance and conflict resolution but weak in hiring. 

Don't worry if you don’t have a complete team in place when you write your HR business plan. Simply use this section to outline the organizational structure along with job descriptions, how you plan to recruit key team members, and what their responsibilities will be.

This section should look like a pyramid with you at the top and will likely have lateral positions. Be as specific as possible when defining an employee's responsibilities because this is what will drive your business.

Do You Need an HR Manager?

If you’re a solo practitioner, you may not think of including an HR manager in your management business plan. However, if you expect to hire non-managerial employees (such as salespeople or clerical workers), you should consider recruiting a human resources manager.

If hiring a human resources manager can’t be done, consider a human resources consultant. Human resource management requires an immense amount of time and paperwork, and an experienced HR consultant will be able to quickly get your payroll and benefits program up and running, affording you more time to concentrate on growing the business. Human resource responsibilities should include:

  • Handling FICA and unemployment taxes and paperwork
  • Ensuring compliance with the Family and Medical Leave Act
  • Staying on top of IRS filings

There are plenty of companies that offer HR management platforms tailored to each business's needs. Research these companies and be sure to include their estimated cost in your HR business plan.

When you develop the HR portion of your business plan, begin by including a brief overview of your HR strategy. Investors may be curious about how your payroll will be handled and the associated costs of administering it, as well as the type of corporate culture you plan to create. Specific items to highlight in the HR section include:

  • Payscale: Show the salaries for managers and non-managers based on the market for those jobs.
  • Vacation time: Describe your vacation-time policy. How much time do employees get? How quickly does it accrue? Vacation time is not required by law, but most firms offer vacation time to stay competitive and keep employees refreshed. 
  • Insurance: Health insurance is a common staple benefit, although skyrocketing prices have forced many firms to cut back on this benefit. If you can’t afford a health plan, look into subsidizing one with employees paying the rest. Alternatively, inquire if a professional insurance representative can help you get a bulk rate.
  • Additional benefits: Other things to consider include life insurance, a 401(k) and matching funds, bereavement leave, religious and floating holidays, and a bonus structure, if applicable.

In addition to the key elements above, it helps to have a framework from which to build your HR business plan. Here’s a basic outline that can help you get started: 

  • Figure out what your human resources department would need. 
  • Determine a strategy for recruiting talent.
  • Formulate your hiring process. 
  • Develop a training program for new employees. 
  • Determine how much you want to pay your team (this is a good spot for payscale info)
  • Create performance standards

It may be overwhelming to contemplate these benefits and their costs in the early stages of setting up your business, but in a competitive labor market, your firm needs to offer enough to entice qualified people and, more importantly, to keep them happy.

Consider revisiting your management and HR business plans every couple of years to see if you need to create action steps to refine your processes.

What should be in an HR business plan?

An HR business plan should include a mix of the steps you plan to take to launch an effective HR department, as well as specifics about how you plan to handle time off, insurance, and other benefits you plan to offer.

How do I write a human resources plan?

It helps to start with a simple framework. Try to break the plan down into sections: HR needs, recruitment, hiring, training, pay, and performance reviews. From there, incorporate other aspects of HR, like benefits and promotions.

U.S. Chamber of Commerce. " Does Your Small Business Need an HR Department? "

 University of Minnesota. “ Human Resources Management: 2.2 Writing the HRM Plan .”

Mecklenburg County, North Carolina. “ FY 2020-2022 Strategic Business Plan: Human Resources .”

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  • 6 Tips for Making a Winning Business Presentation
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  • How to Raise Money With Your Business Plan's Executive Summary
  • How to Build a Team of Outside Experts for Your Business
  • Use This Worksheet to Write a Product Description That Sells
  • What Is Your Unique Selling Proposition? Use This Worksheet to Find Your Greatest Strength.
  • Customers and Investors Don't Want Products. They Want Solutions.
  • 5 Essential Elements of Your Industry Trends Plan
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  • Who Is Your Ideal Customer? 4 Questions to Ask Yourself.
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How to Write the Management Team Section to Your Business Plan Think you've got an all-star lineup? These are the key characteristics to showcase.

By Eric Butow • Oct 27, 2023

Key Takeaways

  • Who to include in your org chart
  • The key traits to highlight

Opinions expressed by Entrepreneur contributors are their own.

This is part 1 / 8 of Write Your Business Plan: Section 3: Selling Your Product and Team series.

One crucial aspect of any business plan is the management team slide, which outlines the key employees in the organization. Here are some things to keep in mind when putting together your all-star lineup.

Put Yourself First

Don't be modest. If you're the head of the business, you should feature yourself first. After all, you are the entrepreneur behind the business venture, and you will have to put your neck on the line, answer the hard questions, and take the criticism— as well as the praise and acclaim, should there be some.

If you want to impress people with your management team, it's essential to let your readers know who is at the helm and who is selecting the management team. Explain your background, including your vision, your credentials, and why you chose the management team you did.

A business follows the lead of the founder, and as such, you need to briefly explain what is expected of this management team and the role you see it, as a group, playing in the future of this business.

Related: Does Your Team Have the Right Stuff to Attract Venture Capital?

Highlight These Characteristics

Identifying your managers is about presenting what they bring to the table. You can provide this by describing them in terms of the following characteristics:

Education Impressive educational credentials among company managers provide strong reasons for an investor or other plan reader to feel good about your company. Use your judgment in deciding what educational background to include and how to emphasize it. If you're starting a fine restaurant, for example, and your chef graduated at the top of her class from the Culinary Institute of America, play that front and center. If you're starting a courier service and your partner has an anthropology degree from a little-known school, mention it, but don't make a big deal out of it.

Employment Prior work experience in a related field is something many investors look for. If you've spent ten years in management in the retail men's apparel business before opening a tuxedo outlet, an investor can feel confident that you know what you're doing. Likewise, you'll want to explain your team members' key, appropriate positions. Describe any relevant jobs in terms of job title, years of experience, names of employers, and so on. But remember, this isn't a resume. You can feel free to skim over or omit any irrelevant experience. You do not have to provide exact dates of employment.

Related: How to Craft a Business Plan That Will Turn Investors' Heads

Skills A title is one thing, but what you learn while holding it is another. In addition to pointing out that you were a district sales manager for a stereo equipment wholesaler, you should describe your responsibilities and the skills you honed while fulfilling them. Again, list your management team's skills that pertain to this business. A great cook may have incredible accounting skills, but that doesn't matter in the new restaurant's kitchen.

Each time you mention skills that you or a management team member has spent years acquiring at another company, it will be another reason for an investor to believe you can do it at your own company.

Accomplishments Dust off your plaques and trot out your calculator for this one. If you or one of your team members has been awarded patents, achieved record sales gains, or once opened an unbelievable number of new stores in the space of a year, now's the time to talk about it. Don't brag. Just be factual and remember to quantify. If, for example, you have twelve patents, your sales manager had five years of thirty percent annual sales gains, and you oversaw the grand openings of forty-two stores in eleven months, this is the stuff investors and others reading your business plan will want to see. Investors are looking to back impressive winners, and quantifiable results speak strongly to businesspeople of all stripes.

Personal information Investors want to know with whom they're dealing in terms of the personal side. Personal information on each member of your management team may include age, city of residence, notable charitable or community activities, and, last but not least, personal motivation for joining the company. Investors like to see vigorous, committed, and involved people in the companies they back. Mentioning one or two of the relevant personal details of your key managers may help investors feel they know what they're getting into, especially in today's increasingly transparent business climate.

Related: How to Evaluate Your Startup Like a VC

Who to Include in Your Plan

Should you mention everyone in your organization down to shop foremen or stop with the people on your executive committee? The answer is probably neither. Instead, think about your managers in terms of the crucial functions of your business.

In deciding the scope of the management section of your plan, consider the following business functions, and make sure you've explained who will handle those that are important to your enterprise:

  • Advertising
  • Distribution
  • Human Resources
  • Technical Operations

Related: How To Build a Team of Outside Experts for Your Business

What Does Each Person Do?

There's more to a job than a title. A director in one organization is a high and mighty individual, whereas a director is practically nobody in another company. Many industries have unique job titles, such as managing editor, creative director, and junior accountant level II, with no counterparts in other industries.

In a longer plan, when you give your management team's background and describe their titles, don't stop there. Go on and tell the reader exactly what each management team member will be expected to do in the company. This may be especially important in a startup, where not every position is filled. If the CFO will handle your marketing work until you get further down the road, let readers know this upfront. You certainly can't expect them to figure that out on their own.

In a shorter business plan, or mini-plan , choose those people most vital to your business. If you are opening a martial arts studio, the instructors, or lead instructors, are significant, as is the software developer in a new software company. While you have room to describe these people in more detail in a longer plan, in the shorter miniplans, use one defining sentence for your top five people.

Related: 6 Tips for Making a Winning Business Presentation

Future Hires

If you do have significant holes in your management team, you'll want to describe your plans for filling them. You may say, for example, "Marketing duties are being handled temporarily by the vice president for finance. Once sales have reached the $500,000 per month level, approximately six months after startup, a dedicated vice president of marketing will be retained to fulfill that function."

In some cases, particularly if you're in a really shaky startup and need solid talent, you may have to describe in some detail your plans for luring a hotshot industry expert to your fledgling enterprise. Then, briefly describe your ideal candidate. For a mini-plan, you may write, "We plan to hire a marketing VP who excels in reaching our 20–29 target market."

Related: Vusi Thembekwayo's 7 Rules of Pitching

More in Write Your Business Plan

Section 1: the foundation of a business plan, section 2: putting your business plan to work, section 3: selling your product and team, section 4: marketing your business plan, section 5: organizing operations and finances, section 6: getting your business plan to investors.

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  • Section 1. Developing a Management Plan

Chapter 15 Sections

  • Section 2. Providing Supervision for Staff and Volunteers
  • Section 3. Providing Support for Staff and Volunteers
  • Section 4. Promoting Internal Communication
  • Section 5. Day-to-Day Maintenance of an Organization
  • Main Section

What is a management plan?

Why does your organization need a management plan, how do you develop a management plan, how do you evaluate and adjust a management plan.

Whether your organization is a one-person volunteer operation or a multi-program giant with dozens of staff, it needs a management plan to make sure that it operates smoothly and gets everything done. The plan for a tiny organization can obviously be a lot simpler than that for a huge one, but the intent in both cases is still the same: to carry out the mission of the organization and the day-to-day tasks needed to support that mission and keep the organization running as effectively as possible.

A management plan is a blueprint for the way your organization is run, both day-to-day and over the long term. It includes the standard methods for doing various things -- handling money, dealing with the actual work of the organization, addressing the way people in the organization do their jobs -- and the overall philosophical and intellectual framework in which these methods operate.

The management plan for your particular organization depends on a number of factors:

  • What is the organization trying to accomplish? A neighborhood initiative that exists to achieve a single goal -- keep a historic building from being torn down, preserve a piece of open space, build a playground -- has very different management needs than, say, a health clinic that plans to serve the community for years. Issues that are both important and ongoing for the clinic (staff pay and benefits, for instance) may simply not exist for the other organization.
  • What actually needs to get done day-to-day to keep the organization running? The actual tasks that keep the organization alive, maintain its standing with funders and the community, and allow it to accomplish its goals, need to be carried out efficiently and on time. Who's responsible for that, how many people will it take, and what are the mechanisms that will allow it to happen for your particular organization?
  • What degree of freedom do people at all levels of the organization need in order to do their jobs well? If nothing can get done without going through several layers of management, the organization isn't going to be very effective.
  • What are the resources available for carrying out a management plan? How many administrators could the organization support, given its finances? If the answer is one (or one part-time), your management plan will look very different than it would if the answer were three.
  • How does the management plan fit in with the mission and philosophy of the organization? It's important, both for the internal workings of the organization and for the way it's viewed in the community, that there be consistency between what the organization says about itself and the way it runs. If an organization claims to be democratic, but keeps its staff totally powerless, it is not only violating its own principles -- and thereby making it less likely it will accomplish its goals -- but also compromising its reputation.

Granted, a lot of work goes into keeping an organization going. Why can't it just get taken care of as it comes up? Why go to the trouble of creating an actual plan for just doing what needs to be done?

Except for the last, the points below all apply to organizations with a number of staff members. But even a one-person organization needs some management planning. When do bills get paid? How do you relate to other organizations and entities? Will you have a bank account? These are all management issues. If you are a really small organization, you may not need a formal plan, but it's still important to do some planning.

The general answer here is that your organization is too important for you to leave things to chance. If there's no plan, everyday tasks may fall through the cracks, emergencies may arise with which no one knows how to cope, responsibilities may not be clear, and--the bottom line--the work of the organization may not be done well or at all. A good management plan helps you accomplish your goals in a number of ways:

  • It clarifies the roles and responsibilities of everyone in the organization so that everyone knows what she and everyone else is supposed to do . Staff members know who they need to go to for information, consultation, supervision, etc. They also know what the boundaries of their own positions are -- when they can do something without checking with someone else, and when they can't.
  • It divides the work of the organization in reasonable and equitable ways, so that everyone's job is not only defined, but feasible.
  • It increases accountability, both internally (when something doesn't get done, it's obvious whose responsibility it was) and externally (the better the management of the organization, the better it will serve the community).
  • It ensures that necessary tasks are assigned to the appropriate staff members, and creates a time schedule to get them accomplished . Bills get paid on time, staff members are where they're supposed to be to provide the organization's services, funding proposals get written and submitted, problems are dealt with, and the organization functions smoothly as a result.
  • It helps the organization define itself. By developing a plan that's consistent with its mission and philosophy, an organization can be clear on what it believes in and communicate this with clarity to its staff, its target population, and the community as a whole.
This is the second reference in this section to consistency between the organization's philosophy and its management plan, and it won't be the last. This issue has been the downfall of many an organization. Some organizations that are inconsistent on this matter simply fall apart amidst wrangling among staff, director, and board. Many more change to become exactly what they initially hoped never to be: dictatorial, or more concerned with income than with the services or support they provide to their target populations and the community. For an organization, as for an individual, living your principles is not a small matter. It is what defines you as either a respected and admired member of the community, or as a hypocrite who isn't worthy of attention. You simply cannot give too much thought to how your management structure mirrors the principles of your organization: it could be a matter of life and death for the organization.

In this part of the section, we'll go step by step through the formation of a management plan.

Decide on a management model (or determine what you already have)

The management philosophy of your organization defines how you view management and how you want your organization to function. What will work best for, and best reflect the character of, your organization? If the organization is very small -- one or two people -- this may simply not be an issue. But if it's larger, what do you need and want? Is it important that the organization be extremely efficient, and that decisions can be made at the drop of a hat? Is it important that the organization be open, and that staff and others feel valued? You need to think carefully about what kind of model will get you what you want, and not get you what you don't want.

Some common management models are:

  • Classic hierarchy: Authority is top-down, typically from the director or board chair. As in the military -- a textbook example of a hierarchy -- there is a "chain of command." Everyone knows exactly where he is in that chain, from whom he takes orders, and to whom he can give them. In general, people can act only in a very limited sphere without instructions or express permission from above.
  • Democratic hierarchy : Final authority still resides at the top, but managers and administrators at all levels confer with those affected before making decisions. Many non-profits and some corporations operate in this way, with decisions made at the level of those who actually do the work and see the results. This model generally allows people the authority to oversee their own work, and encourages incentive.
  • Collaborative management : The whole group -- which usually includes all staff and may include participants as well -- takes part in major decisions, and everyone takes part in decisions which affect her directly. At the same time, everyone has enough authority to fulfill her own responsibility and do her job effectively. The collaborative model allows everyone to feel a sense of ownership in the organization. (A food co-op or other cooperative business often functions in this way, with everyone having a vote in major decisions.)
A community-based literacy program with several sites was in danger of losing a large amount of funding because of state budget cuts. The organization convened a meeting to which all interested stakeholders, staff, students, board, and supporters were invited. The group discussed the situation and decided that the bottom line was that no sites should be closed, and that any cutbacks should reflect this thinking. The board and director took this decision as organizational policy, and made contingency plans accordingly. Even those staff members who were in danger of being laid off as a result of the cuts felt good about the decision because they knew it had been arrived at through careful discussion involving elements of every part of the organization, including themselves. (Funding ultimately came through, and no program cuts were necessary.) This is how collaborative management can work.
  • Collective management: Everyone takes part in all decisions, and the organization is jointly "owned" by the whole collective as a unit. Usually, as a result, consensus (universal agreement) rather than a majority vote, is needed for a decision to be made.

If you're a new organization, and just forming, you'll need to make some serious choices. If you're designing a plan for an organization that's already operating, your choices may be easy or they may be even more difficult. Does your current model work for you? If the answer is "Not as well as we'd like," then you might consider making some changes. But how much can you change, and how fast?

Before you make changes, it's important to negotiate them with those who'll be affected. If they don't agree to a new set of rules, you'll have a difficult time putting those rules in place. Try to look at change as a process that occurs over time. If you want to change the style or philosophical structure of your organization's management -- especially if you want to change it drastically -- you may have to start with small elements and work toward a larger change. That may seem frustratingly slow, but it may lead to better results in the long run.

Although the number of management models described in this section is limited, there are, in fact, infinite varieties combining aspects of two or more. The issue here is not what box you can fit into, but what you think will work for your organization, given the people involved and the work that needs to be done. You might want to be collaborative in some areas and not in others. Your board may set some, but not all, policy. Try to consider what results particular aspects of a model will have, and don't be afraid to try something new.

Define the roles and relationships among the board, director, and staff

Roles and relationships are crucial to the smooth operation of the organization. There are a number of questions you need to ask as you define these in a way that suits your organization and gives you the management results you want:

  • Where are the limits of everyone's authority?
A classic problem in non-profit organizations of all sorts is the struggle for power between the director and the board. Such struggles are not inevitable -- in fact, many, perhaps most, organizations never experience them -- but they are common enough that avoiding them should be a priority. Good directors are usually strong individuals, and good boards are usually made up of strong individuals. If they all work together, they can create a powerful organization; if they wrestle for control, they can handicap, or even destroy, an organization. Therefore, clearly describing the scope and limits of everyone's authority is extremely important.
  • How and when are they expected to work together?
  • On which, if any, issues is decision-making a shared process? Shared by whom?
  • What are the lines of communication among them? (Can the board give instructions directly to staff, for instance? Can staff contact the board directly about issues in the organization? Or does all communication go through the director or some other specific person?)
  • How will disputes among them be resolved?
  • Do board, director and staff agree about how the organization is run? Conflict in this area can quickly cripple an organization.
A young organization that was essentially a collaborative had a board chair who had had considerable experience on the boards of other, more traditional, organizations. She viewed her role, and that of the board in general, as "The Boss," and felt that it was her and their prerogative to dictate policy without discussion. The director, on the other hand, was passionate about the collaborative nature of the program, and saw the board as only one element of many in the governance structure. Although they were personally quite fond of each other, the clashes between board chair and director were monumental and often public. The conflict was difficult for everyone, and wasn't effectively resolved until the board chair's term ended, and she was replaced by someone much more sympathetic to the collaborative model. It was only at that point that the organization actually jelled, and was able to plan its future development.

Spelling out the answers to these questions in job descriptions, board information, employee handbooks, etc. is one way to address this area of concern. Another is to be extremely careful to describe the roles and relationships when hiring a director or staff person, or when taking on new board members. Most important is to try to hire people who share the organization's concept of how it should operate.

Prepare carefully to hire the right people for management positions

If you hire an authoritarian as the director of a collaborative organization, you will have serious difficulties (no "may" or "might" here). By the same token, if you hire someone who doesn't clearly understand what kind of management philosophy you have in mind, or who isn't capable of fostering the relationships necessary to make your model work, it won't work. Hiring the right people is probably the most important thing you can do to make sure that the management plan you've devised is successfully carried out.

An alternative to choosing and developing a particular management structure is to hire the person you're sure you want and go with her management preferences. This works best if the organization (and the staff) has no passionate philosophical leaning toward one model or another. Hiring a terrific person who's a bad fit with the organization is often worse than hiring someone far less competent who's a good fit with the organization. The right person, on the other hand, can -- with charisma, excellent interpersonal skills, and effective management -- bring a resistant organization around to a new way of thinking. It's a tough call, especially since it's seldom possible to get a complete picture of the person you're hiring from a resume, some references, and one or two interviews.

How can you be sure that the people you hire will do the job you want them to do? The short answer is that you never have an absolute guarantee, but there are a number of things you can do to increase your chances.

  • Explain the organization's management model as precisely as possible, so no job applicant will have any question about what she's walking into, and won't find any surprises (beyond the inevitable ones that go with every job) if she takes the position.
  • Try to structure the interview so it mirrors as closely as possible the management model you have in mind. In this way, you can get a sense of the applicant's comfort with the situation, and of his skill in handling it. This information should be helpful when you make your choice.
  • Ask questions and use probes that really get at the applicant's philosophy of management. What does her past experience tell you? What would she be willing, and not willing, to do as a manager or administrator?
  • Use the applicant's references well. Ask his former employers and colleagues about his management style, his relationships with others in the organization, the ways in which he might solve a particular problem, etc.
  • Listen to your instincts. If someone makes you uncomfortable or feels "wrong," that's significant: don't ignore it, no matter how great her resume looks. If you have a sense of the people you're looking for, you'll know at least some of them when you see them.

Examine what needs to be managed

Whatever the management looks like, there is usually some agreement about what in an organization needs to be managed. The broad categories are people; money; supplies and equipment; activities; and relationships with the outside world (funders, the media, the community, target population, etc.) Each of these categories should have a set of policies and procedures that addresses whatever you can think of that might come up in that area.

Another, and extremely important, responsibility of management is to pursue the goals of the organization. In general, these goals are subsumed in the five areas mentioned. If a goal, for instance, is the acceptance of the organization in the community, that goal becomes part of relating to the outside world. If a goal is to provide ever-improving service to a particular population, that goal becomes part of the management of the organization's activities. The reality is that you should never lose sight of your organizational goals, because they define all five of these categories of management for your organization.

Not all of these management areas have to be addressed by the same person, although in small organizations they probably will be. In larger organizations, there are often assistant directors or program directors who oversee one area or another. If the organization is large enough, the director may delegate much of this work.

As with the rest of this section, considering each of these management categories has to be done with an eye toward the mission and philosophy of the organization. There is plenty of room here for making policy that's inconsistent with what you say you believe in, so it's important to ask yourself how what you're developing will fit in with your mission statement. If you're an empowerment organization, a restrictive and punitive personnel policy doesn't make sense, for instance. If one of your goals is to help low-income people learn how to manage money, your own money management should be as organized and efficient and frugal as possible (no fancy furniture or expensive offices). You need to practice what you preach, or the lesson is lost.

People: personnel management

People are the most valuable part of any organization, and often the most difficult to manage. Personnel management encompasses a number of areas:

  • How, and how well, staff members do their jobs.
  • Relationships among people in the organization.
  • Supervision: who supervises whom and how often, what supervision means for the organization, what kinds of records are kept, what is done with them, and who has access to them.
  • Quality-of life issues: staff compensation and benefits, work hours, leave policy, etc.
  • Staff training and ongoing professional development.
  • Hiring, firing, appeal, and grievance procedures.
  • Legal or other regulations involving personnel, such as ADA (Americans with Disabilities Act), funders' requirements, non-discrimination in hiring, etc.

Money: fiscal management

Although you may hate the thought of it, your organization is, in many ways, a business, and you have to manage your finances just as any other business does if you're going to continue to operate. Fiscal management includes:

  • Day-to-day management of the money you actually have: taking care of payroll, paying bills, billing others, handling cash flow, deciding where and when to make purchases of materials, supplies, and equipment.
  • Accounting: keeping the books.
  • Financial planning: finding new resources, tying financial planning to organizational goals, looking for sources of income to replace others that may be drying up, deciding what to do if money is short.
  • Fundraising.
  • Banking, investment, and capital development: taking care of the money you have, dealing with a surplus, and handling money specifically meant to be used for the long-term health and development of the organization.

Goods and services

Just buying what you need for your organization to run isn't the end of the story.

  • Equipment maintenance and repair: keeping track of regular service schedules for copiers and other office equipment, as well as specialized machinery your particular organization may use to do its job (medical devices, for instance, or vehicles); getting equipment fixed or replaced when it breaks down.
  • Training and updates for those who need to use particular equipment, whether computers and software or something more complicated.
  • Ordering materials and supplies when needed, with an eye toward the total amount of money available for them.
  • Keeping track of the price and quality of goods and services, and changing suppliers when necessary.
  • Establishing and maintaining relationships with the companies and individuals from whom the organization buys goods and services.
  • Defining who gets what when: who has access to what equipment, how much does each staff member get to spend for supplies for her position, etc.

What your organization actually does is usually the reason it exists. Keeping careful track of what goes on and how is therefore fundamental to the success of the organization. Among the management necessities here are:

  • Making sure that the organization's activities are carried out in the way they're meant to be.
  • Tracking the results of what you do, and attempting to find ways to improve your effectiveness, even if it's already high.
  • Evaluating the organization's activities, with input from staff, the target population, and, if appropriate, the community at large.
  • Planning for change and improvement, based on evaluations and assessment of results.
  • Continually reassessing the needs of the target population, the field, or whatever is appropriate, to make sure that what you're doing is, in fact, aimed at accomplishing what's necessary.
  • Keeping up to date on best practices and processes, so that you can take advantage of new and proven ideas, methods, and techniques.
  • Updating staff training as the organization's activities or methods expand or change.

Relations with the outside world

If your organization aims to serve the community in some way (or is dependent on the community for resources or good will) then your management plan better include some ways for the organization to become recognized as part of the community. If your organization gets funding from state agencies, foundations, or other funders, it's important to establish and maintain good relationships with both the individuals who oversee that funding and with the funding institutions as a whole.

In reality, organizations don't deal with other organizations or communities: people deal with other people. The positive personal relationships that your organization's director, board, and staff members establish go a long way toward strengthening your organization's credibility and standing with funders and the community. A management plan that addresses this issue might include:

  • Encouraging the director or other staff to be members of community and/or other organizations, and to assume positions of responsibility in those organizations where appropriate.
  • Establishing, where possible, collaborative relationships with other groups and agencies (e.g. referring participants back and forth, sharing staff and equipment, or writing joint proposals, funding for which would benefit both organizations).
  • Keeping a high profile in the community.
One program director made it a point never to turn down an opportunity to speak to a community group or to publicly support other agencies (delivering a keynote to United Way major donors, participating in a Big Brother/Big Sister fundraising event, turning out at a rally for a homeless shelter, etc.). He tried to make sure that the organization's name appeared in the newspaper on a regular basis, if only in public service announcements about program activities. As a result, most people in the community were aware of the program and the services it offered, and thought of it in a positive way.
  • Making it a matter of policy to assist other community groups and agencies whenever possible.
  • Making sure that the director and staff establish and maintain personal relationships with directors and staff of other organizations.
  • Establishing and maintaining personal relationships with the appropriate people at funding agencies.
  • Cooperating with funders by getting paperwork in on time, conforming to rules if you have agreed to do so, and generally trying to make their work easier.
  • Establishing and maintaining relationships with representatives of the media (reporters, editors, station managers, etc.).

Write policies and procedures for each management area

Policies are the official rules, structures, and philosophical principles that guide an organization. Procedures are the actual ways in which policies and the work of the organization are carried out. (Equal opportunity in hiring, particularly with regard to minority candidates, might be a policy of an organization. Advertising in urban newspapers, adding "Minority candidates encouraged to apply" to all job ads and postings, and specifically searching out possible minority candidates are procedures that carry out this policy.) It makes life in an organization much easier for everyone -- and much less subject to legal and other challenges -- if policies and procedures for every aspect of its functioning are spelled out as clearly as possible, and everyone has access to them.

Not every organization needs a formal set of policies and procedures. If you're a small group with very little budget and few staff or rotating volunteers, you may be able to operate perfectly well with an informal set of norms and methods. As you grow, you can institute policies and procedures as they become necessary. Sometimes it's hard to tell when that moment comes: often you realize it only when there's a problem because you don't have the appropriate structure to cover something that's already happened.

The best way to assure that policies and procedures in the various areas make sense and are workable is to draft them with the participation of those who will be subject to them and who will carry them out. As has been mentioned several times in this section, it is essential that everyone in the organization feel some ownership of the management plan if it is to work reasonably well. In this instance, it simply makes sense to include those who will be affected by particular policies and procedures, because they are best qualified to understand what will work in those areas and what won't. (For the same reason, it makes sense to hire the director and other administrators before you develop policies and procedures.)

Once again, when you're finished, consider how the policies and procedures you've generated match your philosophy and mission, and reexamine any that don't.

With the writing of your policies and procedures, your management plan is done, except for one element: a plan for evaluating and improving it.

No plan of any sort is complete without a mechanism for evaluating and improving on it. This is especially true for a management plan, which may be the foundation for an organization's success or failure. If a management plan works well in practice, then it's likely that staff will be reasonably happy and the organization's work will get done well. If the plan doesn't work well, then the reasons for that need to be understood, and management needs to be changed accordingly.

There are both formal and informal ways of telling whether a management plan is working, and both can be used as part of an evaluation plan. An informal assessment of the plan might include answers to the following questions, among others:

  • Do time-sensitive tasks -- funding proposals, reports, etc. -- seem to be completed on time?
  • Are there any staff grievances?
  • Is there a significant number of -- and that might mean any -- complaints from the community or from funders about the organization or what it does?
  • Are participants dropping out of programs or services in large numbers?
  • Is the organizational atmosphere one of calm, or one of chaos? Do staff and participants seem excited or contented, or stressed and unhappy?

Staff discontent, apparent inefficiency, significant participant or community dissatisfaction, widespread stress -- these can all be warning signs that all is not right with the organization. You should take them seriously and search for their causes, so they can be addressed.

An informal evaluation is not enough, however. It's important to evaluate your organization's management just as you evaluate its work on a regular basis (typically once a year). Once again, the format and basis of your evaluation and adjustment strategy should be consistent with the philosophy and mission of your organization. Some formal ways to accomplish an evaluation could include:

  • Some form of structured feedback from all constituents of the organization -- staff, board, participants, volunteers -- as well as from managers and administrators themselves.
  • An organizational self-assessment, through which the organization develops a list of desired results, and checks itself against the list on a regular schedule (e.g. annually).
  • The use of someone outside the organization -- a consultant, the director of another organization -- to evaluate the management function and suggest refinements or changes. (This could be part of a larger evaluation of the organization as a whole.)
  • Regularly comparing policies and procedures to what really happens in the organization in the circumstances they cover. If there is not general agreement between what happens and what is supposed to happen, then something needs to be done. (That"something" could be changing policies and procedures to match practice, or vice-versa, or some other solution that might involve elements of both.)

However you choose to do it, creating a regular process for evaluating and adjusting your management plan should be an integral part of the plan itself. Once you've nailed down that process, your management plan should be complete, and it's time to get to work and put it into practice.

The management of your organization is too important to be left to chance. Having a management plan will allow you to shape the organization the way you want to, and will make it much more likely that your work -- the reason for the organization's existence -- will be effective.

To develop a management plan that works for your organization, you should think carefully about what's consistent with your mission and philosophy (and what your organization says about itself). Then, with that in mind:

  • Consciously choose or design a management model that will comfortably fit the organization and will accomplish your purposes.
  • Define the relationships among director, board, staff, and volunteers to conform to the needs of effectively operating the management structure you've chosen.
  • Develop, with appropriate input from those affected, a comprehensive set of policies and procedures to cover the five essential management areas: people; money; supplies and equipment; activities; and relations with the outside world.
  • Design a regular system and schedule for evaluating and adjusting your management plan, so that it will continue to function successfully.

When you have a management plan that seems right for your organization, you've completed a necessary step on the road to effective action.

Online Resources

The Center for Nonprofit Management : consultants on management issues (they charge fees).

The Frances Hesselbein Leadership Institute  links, readings, information, Fellowships, etc. in nonprofit management from the guru of same.

Free Management Library . A free management library from the Management Assistance Center for Nonprofits, with 69 basic topics, broken down into 675 more specific subtopics. A wealth of information, of varying depth.

A Guide: Developing a Street and Park Tree Management Plan  is just one example of how to develop a management plan.

Nonprofit Charitable Organizations . Links to many nonprofit topics, including management and boards.

The Nonprofit Expert . Articles, ideas, and links to management topics, including an on-line Compendium of Federal and State Regulations for US Nonprofit Organizations.

Nonprofit Support Center Provides leadership, consulting and training to help nonprofits do their work better.

Sample of Nonprofit Management Plan , from DeLapa Consulting, outlines key elements and steps of a management plan.

A great links page from the  Urban Institute .

BUS101: Introduction to Business

the management plan in a business plan

The Business Plan

Read this section to see why business plans are essential and what sections should be included.

Management Plan

Management makes the key decisions for the business, such as its legal form and organizational structure. This section of the business plan should outline these decisions and provide information about the qualifications of the key management personnel.

A. Legal Form of Organization

This section dentifies the chosen legal form of business ownership: sole proprietorship (personal ownership), partnership (ownership shared with one or more partners), or corporation (ownership through shares of stock).

B. Qualifications of Management Team and Compensation Package

It isn't enough merely to have a good business idea: you need a talented management team that can turn your concept into a profitable venture. This part of the management plan section provides information about the qualifications of each member of the management team. Its purpose is to convince the reader that the company will be run by experienced, well-qualified managers. It describes each individual's education, experience, and expertise, as well as each person's responsibilities. It also indicates the estimated annual salary to be paid to each member of the management team.

C. Organizational Structure

This section of the management plan describes the relationships among individuals within the company, listing the major responsibilities of each member of the management team.

Business Plan Section 3: Organization and Management

This section explains how your business runs and who’s on your team. Learn how to present the information in this section of your business plan.

Organization and Management

This section of your business plan, Organization and Management, is where you’ll explain exactly how you’re set up to make your ideas happen, plus you’ll introduce the players on your team.

As always, remember your audience. If this is a plan for your internal use, you can be a little more general than if you’ll be presenting it to a potential lender or investor. No matter what its purpose, you’ll want to break the organization and management section into two segments: one describing the way you’ve set up the company to run (its organizational structure), and the other introducing the people involved (its management).

Business Organization

Having a solid plan for how your business will run is a key component of its smooth and successful operation. Of course, you need to surround yourself with good people, but you have to set things up to enable them to work well with each other and on their own.

It’s important to define the positions in the company, which job is responsible for what, and to whom everyone will report. Over time, the structure may grow and change and you can certainly keep tweaking it as you go along, but you need to have an initial plan.

If you’re applying for funding to start a business or expand one, you may not even have employees to fit all the roles in the organization. However, you can still list them in your plan for how the company will ideally operate once you have the ability to do so.

Obviously, for small businesses, the organization will be far more streamlined and less complicated than it is for larger ones, but your business plan still needs to demonstrate an understanding of how you’ll handle the workflow. At the very least, you’ll need to touch on sales and marketing, administration, and the production and distribution of your product or the execution of your service.

For larger companies, an organizational plan with well-thought-out procedures is even more important. This is the best way to make sure you’re not wasting time duplicating efforts or dealing with internal confusion about responsibilities. A smooth-running operation runs far more efficiently and cost-effectively than one flying by the seat of its pants, and this section of your business plan will be another indication that you know what you’re doing. A large company is also likely to need additional operational categories such as human resources and possibly research and development.

One way to explain your organizational structure in the business plan is graphically. A simple diagram or flowchart can easily demonstrate levels of management and the positions within them, clearly illustrating who reports to whom, and how different divisions of the company (such as sales and marketing) relate to each other.

Here is where you can also talk about the other levels of employees in your company. Your lower-level staff will carry out the day-to-day work, so it’s important to recognize the types of people you’ll need, how many, what their qualifications should be, where you’ll find them, and what they’ll cost.

If the business will use outside consultants, freelancers, or independent contractors, mention it here as well. And talk about positions you’d want to add in the future if you’re successful enough to expand.

Business Management

Now that we understand the structure of your business, we need to meet the people who’ll be running it. Who does what, and why are they onboard? This section is important even for a single practitioner or sole proprietorship, as it will introduce you and your qualifications to the readers of your plan.

Start at the top with the legal structure and ownership of the business. If you are incorporated, say so, and detail whether you are a C or S corporation. If you haven’t yet incorporated, make sure to discuss this with your attorney and tax advisor to figure out which way to go. Whether you’re in a partnership or are a sole owner, this is where to mention it.

List the names of the owners of the business, what percent of the company each of them owns, the form of ownership (common or preferred stock, general or limited partner), and what kind of involvement they’ll have with day-to-day operations; for example, if they’re an active or silent partner.

Here’s where you’ll list the names and profiles of your management team, along with what their responsibilities are. Especially if you’re looking for funding, make sure to highlight the proven track record of these key employees. Lenders and investors will be keenly interested in their previous successes, particularly in how they relate to this current venture.

Include each person’s name and position, along with a short description of what the individual’s main duties will be. Detail his or her education, and any unique skills or experience, especially if they’re relevant to the job at hand. Mention previous employment and any industry awards or recognition related to it, along with involvement with charities or other non-profit organizations.

Think of this section as a resume-in-a-nutshell, recapping the highlights and achievements of the people you’ve chosen to surround yourself with. Actual detailed resumes for you and your management team should go in the plan’s appendix, and you can cross-reference them here. You want your readers to feel like your top staff complements you and supplements your own particular skill set. You also want readers to understand why these people are so qualified to help make your business a success.

This section will spell out the compensation for management team members, such as salary, benefits, and any profit-sharing you might be offering. If any of the team will be under contract or bound by non-compete agreements, you would mention that here, as well.

If your company will have a Board of Directors, its members also need to be listed in the business plan. Introduce each person by name and the position they’ll hold on the board. Talk about how each might be involved with the business (in addition to board meetings.

Similar to what you did for your management team, give each member’s background information, including education, experience, special skills, etc., along with any contributions they may already have had to the success of the business. Include the full resumes for your board members in the appendix.

Alternately, if you don’t have a Board of Directors, include information about an Advisory Board you’ve put together, or a panel of experts you’ve convened to help you along the way. Having either of these, by the way, is something your company might want to consider whether or not you’re putting together the organization and management section or your business plan.

NEXT ARTICLE > Business Plan Section 4: Products and Services

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the management plan in a business plan

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Restaurant Business Plan PDF Example

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  • February 23, 2024
  • Business Plan

the business plan template for a restaurant

Creating a comprehensive business plan is crucial for launching and running a successful restaurant. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your restaurant’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a restaurant business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the food and beverage industry, this guide, complete with a business plan example, lays the groundwork for turning your restaurant concept into reality. Let’s dive in!

Our restaurant business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the restaurant’s operations, marketing strategy, market environment, competitors, management team, and financial forecasts.

  • Executive Summary: Offers an overview of the restaurant’s business concept, market analysis, management, and financial strategy.
  • Restaurant & Location: Describes the restaurant’s prime location, size, seating capacity, and distinctive design, emphasizing its appeal to the target demographic.
  • Supply & Operations: Outlines the supply chain management, focusing on local sourcing and quality ingredients, and details the operational aspects, including kitchen layout, equipment, and front-of-house operations.
  • Key Stats: Shares industry size, growth trends, and relevant statistics for the full-service restaurant market.
  • Key Trends: Highlights recent trends affecting the restaurant sector, such as health-conscious dining, sustainability, and technology integration.
  • Key Competitors: Analyzes the main competitors in the vicinity, showcasing the restaurant’s unique selling proposition in comparison.
  • SWOT: Strengths, weaknesses, opportunities, and threats analysis.
  • Marketing Plan: Strategies for promoting the restaurant to maximize visibility and customer engagement.
  • Timeline: Key milestones and objectives from the initial setup through the launch and operational optimization.
  • Management: Information on who manages the restaurant and their roles.
  • Financial Plan: Projects the restaurant’s financial performance, including revenue, profits, and expected expenses, aiming for profitability and sustainable growth.

the business plan template for a restaurant

Restaurant Business Plan

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your restaurant’s business plan, offering a concise overview of your establishment and its offerings. It should detail your market positioning, the variety of cuisines and dining experiences you offer, its location, size, and an outline of day-to-day operations. 

This section should also explore how your restaurant will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your restaurant’s unique selling points that differentiate it from these competitors. 

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the restaurant’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your restaurant’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Restaurant Business Plan executive summary1

Dive deeper into Executive Summary

Business Overview

For a Restaurant, the Business Overview section can be concisely divided into 2 main slides:

Restaurant & Location

Briefly describe the restaurant’s physical environment, emphasizing its design, ambiance, and the overall dining experience it offers to guests. Mention the restaurant’s location, highlighting its accessibility and the convenience it offers to diners, such as proximity to entertainment venues or ease of parking. Explain why this location is advantageous in attracting your target clientele.

Supply & Operations

Detail the range of cuisines and dishes offered, from appetizers and main courses to desserts and specialty beverages. Outline your sourcing strategy, ensuring it reflects a commitment to quality and sustainability, and matches the market you’re targeting.

Highlight any unique culinary techniques, exclusive ingredients, or innovative kitchen technologies that set your restaurant apart. Discuss your operational strategies, including inventory management, supplier relationships, and kitchen workflow, to ensure efficiency and consistency in delivering exceptional dining experiences.

Make sure to cover here _ Restaurant & Location _ Supply & Operations

Business Plan_Pizzeria restaurant

Market Overview

Industry size & growth.

In the Market Overview of your restaurant business plan, start by examining the size of the restaurant industry and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.

Key market trends

Proceed to discuss recent market trends, such as the increasing consumer interest in farm-to-table dining, ethnic cuisines, and experiential dining experiences.

For example, highlight the demand for restaurants that offer unique cultural dishes, the growing popularity of health-conscious and dietary-specific menus, and the integration of technology in enhancing the dining experience.

Key competitors

Then, consider the competitive landscape, which includes a range of dining establishments from gourmet fine dining to fast-casual eateries, as well as the rise of food delivery services and meal kits.

For example, emphasize what makes your restaurant distinctive, whether it’s through a unique culinary approach, a niche market focus, or a strong commitment to sustainability and local sourcing.

Make sure to cover here _ Industry size & growth _ Key market trends _ Key competitors

Restaurant Business Plan market overvie1

Dive deeper into Key competitors

First, conduct a SWOT analysis for the restaurant , highlighting Strengths (such as a unique menu and exceptional customer service), Weaknesses (including potential high operational costs or strong competition in the area), Opportunities (for example, a growing interest in diverse cuisines and healthy eating), and Threats (such as economic downturns that may decrease consumer spending on dining out).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain customers through targeted advertising, promotional discounts, an engaging social media presence, food blogger outreach, and community involvement, such as local events or charity sponsorships.

Finally, create a detailed timeline that outlines critical milestones for the restaurant’s opening, marketing campaigns, customer base growth, and expansion objectives, ensuring the business moves forward with clear direction and purpose.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Restaurant Business Plan strategy

Dive deeper into SWOT

Dive deeper into Marketing Plan

The management section focuses on the restaurant’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the restaurant towards its financial and operational goals.

For your restaurant business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Restaurant Business Plan management1

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your restaurant’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your restaurant business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Restaurant Business Plan financial plan1

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More Wall Street Firms Are Flip-Flopping on Climate. Here’s Why.

Financial giants were already trimming their climate pledges amid Republican attacks. Then came concerns about legal risks.

Four police officers walk left to right in the foreground, crossing a street with dozens of protesters in the background carrying orange-red signs that say “fossil fuels kill.” Steam rises from the street.

By David Gelles

Gelles writes the Climate Forward newsletter and has reported on Wall Street for more than a decade.

Many of the world’s biggest financial firms spent the past several years burnishing their environmental images by pledging to use their financial muscle to fight climate change.

Now, Wall Street has flip-flopped.

In recent days, giants of the financial world including JPMorgan, State Street and Pimco all pulled out of a group called Climate Action 100+, an international coalition of money managers that was pushing big companies to address climate issues.

Wall Street’s retreat from earlier environmental pledges has been on a slow, steady glide path for months, particularly as Republicans began withering political attacks, saying the investment firms were engaging in “woke capitalism.”

But in the past few weeks, things accelerated significantly. BlackRock, the world’s largest asset manager, scaled back its involvement in the group. Bank of America reneged on a commitment to stop financing new coal mines, coal-burning power plants and Arctic drilling projects. And Republican politicians, sensing momentum, called on other firms to follow suit.

The reasons behind the burst of activity reveal how difficult it is proving to be for the business world to make good on its promises to become more environmentally responsible. While many companies say they are committed to combating climate change, the devil is in the details.

“This was always cosmetic,” said Shivaram Rajgopal, a professor at Columbia Business School. “If signing a piece of paper was getting these companies into trouble, it’s no surprise they’re getting the hell out.”

American asset managers have a fiduciary duty to act in the best interest of their clients, and the financial firms were worried that a new strategy by Climate Action 100+ could expose them to legal risks.

Since its founding in 2017, the group focused on getting publicly traded companies to increase how much information they shared about their emissions and identify climate-related risks to their businesses.

But last year, Climate Action 100+ said it would shift its focus toward getting companies to reduce emissions with what it called phase two of its strategy. The new plan called on asset-management firms to begin pressuring companies like Exxon Mobil and Walmart to adopt policies that could entail, for example, using fewer fossil fuels.

In addition to the risk that some clients might disapprove, and potentially sue, there were other concerns. Among them: that acting in concert to shape the behaviors of other companies could fall afoul of antitrust regulations.

“In our judgment, making this new commitment across our assets under management would raise legal considerations, particularly in the U.S.,” a BlackRock spokesman said in a statement.

BlackRock also said that one of its subsidiaries, BlackRock International, would continue to participate in the group — a tacit acknowledgment of the different regulatory environment in Europe. BlackRock also said it was initiating new features that would let clients choose if they wanted to pressure companies to reduce their emissions.

A State Street spokesman said that the company also saw potential legal risks, and that the firm determined the new approach “will not be consistent with our independent approach to proxy voting” and to engaging with the companies it invests in.

JPMorgan said it was pulling out of the group in recognition of the fact that, over the past few years, the firm had developed its own framework for engaging on climate risk.

On Friday, the day after JPMorgan, BlackRock and State Street pulled out, Pimco, another big asset manager, followed suit. “We have concluded that our Climate Action 100+ participation is no longer aligned with PIMCO’s approach to sustainability,” a firm spokesman said in a statement.

A spokesman for Goldman Sachs Asset Management, another member, declined to comment on Saturday when asked if it planned to remain in the group.

The fracturing of Climate Action 100+ was a victory for Representative Jim Jordan, Republican of Ohio, who has led a campaign against companies pursuing E.S.G. goals, shorthand for environmental, social and governance factors.

Embracing E.S.G. principles and speaking up on climate issues has become commonplace across corporate America in recent years. Chief executives warned about the dangers of climate change. Banks and asset managers formed alliances to phase out fossil fuels. Trillions of dollars were allocated for sustainable investing.

At the same time, a backlash grew, with Republicans claiming that banks and asset mangers were supporting progressive politics with their climate commitments.

Some states, including Texas and West Virginia, banned banks from doing business with the state if the firms were distancing themselves from fossil fuel companies. And late in 2022, Mr. Jordan began an antitrust investigation into the group , calling it a “climate-obsessed corporate ‘cartel.’”

On Thursday, he said in on a post on X that the news represented “big wins for freedom and the American economy, and we hope more financial institutions follow suit in abandoning collusive ESG actions.”

Mindy Lubber, the chief executive of Ceres and a member of the steering committee of Climate Action 100+, disputed the notion that the new strategy represented a change from the focus on enhanced disclosure.

“Phase two is not that different,” she said. “It’s basically investors working with companies and saying: ‘OK, you’ve disclosed the risk. We just want to know how you’re going to address it.’ Because that’s what the investors want. How are you dealing with risk?”

Ms. Lubber said she was disappointed that the big asset managers had pulled out of Climate Action 100+, but hoped that they would continue to pursue efforts to reduce the risks posed by the heat waves, floods, fires and storms being made worse by man-made global warming. “You cannot make a new theory that climate risk is no longer a material financial risk ,” she said.

Several of the firms that backed out of Climate Action 100+ said they remained committed to the issue. JPMorgan said that it had a team of 40 people working on sustainable investing and that it believed “climate change continues to present material economic risks and opportunities to our clients.”

Aron Cramer, chief executive for BSR, a sustainable-business consultancy, said the Wall Street firms were responding to political pressure, but not abandoning their climate commitments altogether.

“The political cost has heightened, the legal risk has heightened,” he said. “That said, these corporations are not doing U-turns,” he added. “They continue to consider climate. That’s not going away. It’s adapting to the current environment.”

David Gelles reports on climate change and leads The Times’s Climate Forward newsletter and events series . More about David Gelles

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A Twist on Home Cooking:  Developers are transforming clusters of old homes into micro restaurants, combining the pleasures of dining out with the nostalgic comforts of home .

The Great Compression:  Soaring home prices in the United States have ushered in the era of the 400-square-foot subdivision house. The change could reshape the market .

A Billionaire’s Moonshots:  The entrepreneur Kam Ghaffarian wants to help build the new space economy , one Prada spacesuit and Jeff Koons-filled lunar lander at a time.

E.V. Uncertainty:  In Michigan, one of six battleground states that could determine the 2024 U.S. presidential election, electric vehicles have emerged as a contested piece of the economic future .

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  3. A Step-by-Step Outline on How to Write a Business Plan

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  4. How to write a business plan effectively in 2024: a comprehensive guide

    the management plan in a business plan

  5. Free Printable Business Plan Sample Form (GENERIC)

    the management plan in a business plan

  6. How to Write Business Plan PDF: Expert Advice

    the management plan in a business plan

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  1. Strategic Planning: Business Plan in 1 Minute

  2. MASTER PLAN BUSINESS PLAN 2024

  3. Trade Management Plan!

  4. Business plan for product version

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  6. Business Plan Implementation

COMMENTS

  1. How To Write the Management Section of a Business Plan

    When developing a business plan, the 'management section' describes your management team, staff, resources, and how your business ownership is structured. This section should not only describe who's on your management team but how each person's skill set will contribute to your bottom line.

  2. How To Write A Business Plan (2024 Guide)

    Describe Your Services or Products. The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit ...

  3. Writing the Organization and Management Section of Your Business Plan

    The organization and management section of your business plan should summarize information about your business structure and team. It usually comes after the market analysis section in a business plan . It's especially important to include this section if you have a partnership or a multi-member limited liability company (LLC).

  4. Write your business plan

    Include your mission statement, your product or service, and basic information about your company's leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

  5. Business Plan

    A business plan is a document that contains the operational and financial plan of a business, and details how its objectives will be achieved. It serves as a road map for the business and can be used when pitching investors or financial institutions for debt or equity financing.

  6. Management Plan in a Business Plan

    The management plan is all about employees and operations. Employees are one of the most important parts of any new venture. Good employees can make your life much easier, while bad employees can distract you and be a detriment to your success. Operational structure can be the difference between a successful venture and a failure.

  7. How to Write a Simple Business Plan

    A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice.

  8. How to Write a Business Plan: Guide + Examples

    Download a free one-page plan template to write a useful business plan in as little as 30-minutes. Explore over 500 real-world business plan examples from a wide variety of industries. Try the business planning and growth tool trusted by over 1-million business owners.

  9. How to Write a Management Plan (with Examples)

    A management plan describes how an organization or business is run. Writing a management plan allows you to formalize your management structure and operations. It also ensures that everyone is on the same page and that your goals will be accomplished. You can easily write your own management plan with a few simple steps.

  10. Business Plan: What It Is, What's Included, and How to Write One

    A business plan is a document that details a company's goals and how it intends to achieve them. Business plans can be of benefit to both startups and well-established companies. For...

  11. How to Write the Management Team Section of a Business Plan

    A management team business plan is a section in a comprehensive business plan that introduces and highlights the key members of the company's management team. This part provides essential details about the individuals responsible for leading and running the business, including their backgrounds, skills, and experience.

  12. Tips on Writing the Management Team Section of a Business Plan

    The management section of a business plan is an in-depth description of a business's team, its structure, and the ownership of a business. The section discusses in detail who is on the management team - internal and external- their skill sets, experiences, and how meaningfully they would contribute to an organization's goals and outcomes.

  13. 5 Examples of a Management Plan for a Business Plan

    In the context of a business plan, a management plan is a high level plan for the direction and control of an organization. The following are examples of elements that can be included in a management plan. Management Team A brief biography of the executive management of the organization or unit. Organizational Structure

  14. The Ownership and Management Section of a Business Plan

    The Management and Ownership section of a business plan features short (one to three paragraphs) biographies of the key personnel involved in forming and running the business. You should include key staff personnel and members of your Board of Directors. Additionally, describe the benefits that each member of the team brings to this business ...

  15. Business Plan Executive Summary Example & Template

    Every business plan has key sections such as management and marketing. It should also have an executive summary, which is a synopsis of each of the plan sections in a one- to two-page overview.

  16. Management Plan: Definition, Benefits & How To Create One?

    A management plan is a comprehensive plan that provides the objectives of any given project, clearly defines roles and responsibilities, and more to make sure it's a success! Your management plan is a resource that everyone in the firm can use for better guidance.

  17. Management and Human Resources Business Plans

    The Management Portion of Your Business Plan. You'll want to start your HR business plan by outlining your own managerial experience and skills as well as those of your team. Highlight the roles of each member of your team, and any particular areas of strength or deficiency in your personnel lineup. For example, your HR team may be strong in ...

  18. How to Write the Management Team Section to Your Business Plan

    One crucial aspect of any business plan is the management team slide, which outlines the key employees in the organization. Here are some things to keep in mind when putting together your...

  19. Section 1. Developing a Management Plan

    What is a management plan? A management plan is a blueprint for the way your organization is run, both day-to-day and over the long term.

  20. The Business Plan: Management Plan

    This section of the management plan describes the relationships among individuals within the company, listing the major responsibilities of each member of the management team. Introduce yourself to business concepts and current business issues while expanding your vocabulary, improving your critical and analytical thinking skills, and refining ...

  21. Business Plan Section 3: Organization and Management

    This section of your business plan, Organization and Management, is where you'll explain exactly how you're set up to make your ideas happen, plus you'll introduce the players on your team. As always, remember your audience. If this is a plan for your internal use, you can be a little more general than if you'll be presenting it to a ...

  22. How To Write a Management Team Business Plan (With an Example)

    A management team business plan is a section of a proposal that indicates the credentials and expertise of a team of managers in a company. Its purpose is to show prospective investors that the professionals your company has appointed are educated and experienced, making them capable of fulfilling leadership positions.

  23. Creating Your Business Plan: Organization & Management

    The following important ownership information should be incorporated into your business plan: Names of owners. Percentage ownership. Extent of involvement with the company. Forms of ownership (i.e., common stock, preferred stock, general partner, limited partner) Outstanding equity equivalents (i.e., options, warrants, convertible debt) Common ...

  24. Restaurant Business Plan PDF Example

    Whether you're an experienced entrepreneur or new to the food and beverage industry, this guide, complete with a business plan example, lays the groundwork for turning your restaurant concept into reality. Let's dive in! The Plan. Our restaurant business plan is structured to cover all essential aspects needed for a comprehensive strategy.

  25. Business Administration

    Total Credits = 60The Associate of Applied Science degree in Business Administration is designed to provide students with the skills needed in diverse public and private organizations. The program provides the business, management and marketing skills necessary for success in entry-level positions requiring foundations of greater responsibility, authority and leadership.

  26. Cleethorpes Country Park set for new management plan

    North East Lincolnshire Council says it is working on a new management plan for Cleethorpes Country Park. A previous maintenance scheme was put in place in 2015 and expired in 2020.

  27. More Wall Street Firms Are Flip-Flopping on Climate. Here's Why

    The new plan called on asset-management firms to begin pressuring companies like Exxon Mobil and Walmart to adopt policies that could entail, for example, using fewer fossil fuels.

  28. FY 2025 Advertised Budget Plan

    Business. Business & Construction. Building Permits Code & Zoning Land Use More Business Services ... Management and Budget Alert: CONTACT INFORMATION: Our office is open 8:00 AM ... The County Executive presented the FY 2025 Advertised Budget Plan to the Board of Supervisors on February 20, 2024. ...

  29. OneDigital acquires retirement plan servicing business of Wintrust

    The parent company initiated its push into retirement plan and wealth management services in February 2020 with the purchase of $45 billion RIA firm Resources Investment Advisors and a slew of ...

  30. Former Crown Castle CEO Ted Miller launches proxy battle for company

    Miller and his compatriots have put forth a plan that would sell off the fiber optics business, return Crown Castle to a pure-play cell tower business, and start a $1.9 billion share buyback ...