The Business Plan: the entrepreneurial team

When the business plan is aimed at obtaining financing (capital contributions or loans) this chapter is of particular relevance.

Investors or lenders are very clear that one of the keys to success of a business is the people who lead. Would you lend money to a group of people inexperienced or bad reputation in the market? An investor would say: no equipment, no project.

In addition, an investor would make the following questions

• Who are they?

• Is the product or services that will provide know?

• Is the market that will compete know?

• What knowledge do they have?

• What achievements have had in your career path?

• Who knows?

• Who know them?

Seems excessive list? You can ask yourself: Do I contribute funds to a project knowing that restaurant owners never worked in food and they will learn on the fly?

A good entrepreneurial team is more important than a good idea.

A good entrepreneurial team know how to adapt your strategy if circumstances warrant and have the ability to overcome the crisis that anyway will face.

This chapter of the PN should highlight studies, work history and professional accomplishments of its members. It must demonstrate that the product and its manufacturing processes well known. Also the market, customers and suppliers.

To manage a business efficiently multiple skills are required. At least four basic skills are necessary: ​​namely producing quality, know how to sell, know how to manage and lead people know. The entrepreneurial team, either partners or principal collaborators, must arm themselves seeking complementarity among its members to cover all these skills.

What then determines success in an entrepreneurial team?

1) the motivations of its members although care must be taken in the fact that they may not be the same; 2) commitment to the project and work; 3) the complementation of its members 4) trust and; 5) communication. When an idea or business opportunity arises, it may be the case that initially the entrepreneurial team is made up of several members. However, over time, begin the differences of motivation and commitment, which in most cases leads the team reduced and remain only those who are really motivated and eager to work seriously on the project. It therefore, it is important to be clear; a) Who will form the entrepreneurial team; b) What are the experiences and skills of each; c) What are willing to contribute to the process:? hours, contacts, resources, etc;? d) What is the legal agreement between members;? e) How are going to make decisions;? f) What will be the political wages and profit sharing; What is needed to form a good team;? I) complementary skills; II) complementary personalities; III) Agreeing dedication (part-time full-time) of each member; IV) clearly define the roles; V) long-term commitment; VI) That the team there is trust and openness; VII) to stimulate creativity and risk-taking; VIII) Autovaluación; Why should an entrepreneur in a team? a) improves the quality of the project; B) Increase flexibility; C) requires better coordination; D) Improves productivity