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Introduction:
A business plan represents an important document for third parties to understand and possibly approve credit; you must complete all parts with relevant information. In this post, we will explore more into the business plan sections, specifically the management section. Many business plans fail in front of third-party eyes since they show resumes. This section should not portray you as seeking employment; it should portray a vivid idea of you managing your business.
You as the Manager
Most business plans fall into one of these categories: (1) general ideas organized as business; (2) past professions or job experiences; and (3) hobbies that became successful. It does not matter which one you fall into; what matters is to make a reality of your business idea. Therefore, you should put together a plan to show your abilities as an administrator or manager of your business.
Since we are exploring you as the manager, we need an inventory of all your capabilities. Depending on where your starting point falls based on the three categories just discussed, your capabilities will align. Just to clarify, you do not need all three to become successful; actually, you might find yourself in one, two, or none. Why? Because buying an existing business also requires a business plan, and you still need to put together your own ideas for managing your newly acquired business.
The management section should follow a paragraph and bullets format, where every idea explains itself. For example, does your idea need specific education? a license? If true, then you need those. However, if not, then you need to show that you have either the experience or capability to perform your managerial duties. Let’s use a hobby, for example. You have collected toys since you were a child; you consider yourself an expert on this toy. Now as an adult, decide to find those toys and become a reseller. Your hobby became your business; now you need to show your managerial skills, but how?
Some recommendations for the management section
In your narrative, show the potential reader that you know where to find your products and who your potential customers are. For instance, let them know about social networks or online communities. Your involvement with related groups and leadership roles that you have taken within. Training, education, past experiences, and any other information that assess your knowledge and abilities you possess. Remember, this is not the time for shyness; you must speak up. Let people know who you are and what you are bringing to the table.
Because you want to succeed, make sure you use in your narrative words that ignite your readers’ attention, such as:
- Enabled
- Generated
- Spearheaded
- Transformed
- Undertook
- Pioneered
- Negotiated
- Mobilized
- Mentored
Now, you take action:
Write on paper, in handwriting, no computer, your business idea. Start by stating your managerial ideas of that person needed to run your business. Put in writing the ideal characteristics needed to run your business. Then, match your traits with those described. If you need education for it, get educated; if you need experience, start with a small investment and grow; do not stop. Your business is waiting for you; therefore, do take action. Do not wait; you better take small steps to achieve your goal rather than see the passing of days without action. If you want to buy and sell, start with your friends, neighborhood, social communities, and so on. Then make a log, a diary of your experiences; this will become your narrative for success, your key to unlocking your dreams into a reality.
At the end, when the time is right, you will know, and drafting your managerial section of the business plan will not look like a resume but a managerial action plan for success.
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