MANAGEMENT
The success of every business depends on the people at your company. Summarize your key contacts in each area of business. Start with the president and people who are able to make decisions on behalf of the company.
Assessment of management
Provide a realistic assessment of management capabilities. Outline how your strengths will ensure you are able to implement company objectives. It is critical to identify possible weaknesses and strategies to overcome these weaknesses, such as outsourcing responsibilities, hiring a new person or independent consultants.
Management Profiles
Provide a profile of your senior management including the president and owners. Outline responsibilities at the company, experience, education, ownership percentage, salaries and bonus structure. Indicate if they are able to sign on behalf of the company.
A statement of net worth should be included for all owners. You may want to include this as an appendix. For confidentiality reasons, it is acceptable for the individual owners to attached sealed envelops or provide this information directly to the Bank.
Employees
Outline your current employee base including pay structure. How many employees do you have? What are your fixed salary expenses? What percent commission do your sales people receive? How will this structure change in the future?
Resources
Provide a list of your business resources. Include your key contact, name of the company and telephone number. This list should include your accountant, lawyer, existing banker, owners and other key contacts.
At CreditSunrise.com, we assist entrepreneurs like you to create a working document to guide your business. Our services include custom business plan preparation, business plan review and source financing. Click here for a full sample business plan. We service small and medium size businesses in the United States and Canada.
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