Other necessary details in this section include the number of employees in the company and needs to expand the workforce. Your needs may range from engineers with particular skills to skilled laboratory technicians to support product development or production, or other skilled production labor. A discussion of unique human resource programs, any union contracts, and a description of pension and incentive plans should be included. If there is a shortage of skilled manpower in your area, identify this, explaining how you plan to recruit people with critical skills. If your industry is changing rapidly then your employees will need to continue to develop their technical skills. Management should discuss which development programs are critical to the company’s success.
Out side Advisers
Your outside advisors may include a formal Board of Directors or an informal group of counselors. You may have some key consultants that can provide added credibility for your
product or service in the marketplace. Your potential investors will want to understand these
relationships and the depth and quality of these advisors.
product or service in the marketplace. Your potential investors will want to understand these
relationships and the depth and quality of these advisors.
Every day, brilliant and innovative people come up with ideas for “fantastic” products. The
ideas are worthless, however, unless there is a market for these items. Consequently, the
market section of your business plan is often the one that potential financial backers will turn
to next, after the Executive Summary.
ideas are worthless, however, unless there is a market for these items. Consequently, the
market section of your business plan is often the one that potential financial backers will turn
to next, after the Executive Summary.
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