How do I assemble a good management team?

I understand that angels and venture capital companies look for a rock solid business plan (idea) and an incredibly

competent management team. What is the first step in assembling your team especially when financially you're very limited? Any advise?



Thank you for your time!How do I assemble a good management team?
A quality management team is crucial to how potential investors perceive your business. They will be investing in the people who will be running your new enterprise as well as the business idea. When potential investors evaluate your business plan, they will pay special attention to the quality of the management team. This is because they recognise that, without the right skills and experience, none of the other elements of the plan really have any value.



Your skills and experience

This part is a bit like a CV. It's your chance to tell the reader about the key team players, highlighting the points that make you the best people to run this business. Include mini 'bios' in the main body of the plan, and more detailed CVs in the appendix. Readers don't want to know that you attained grade 6 in piano or that you were 'best all rounder' in the school sports. They only need to know relevant details of:

# Your experience

# Your skills

# Your past achievements.



You will need to show that, between you, management team members have the skills required to cover all aspects of running the business. The main areas you will need to cover are:

# Operational 鈥?running the business on a day to day basis

# Technical 鈥?making the product or providing the service

# Financial 鈥?bookkeeping, budgeting etc

# Marketing 鈥?promotion and sales

# Personnel 鈥?recruiting, training and staff welfare.How do I assemble a good management team?
Note that there is a difference between leaders and managers. Not all managers are leaders and not all leaders are managers, but both skill sets are vital for any company.



To put the RIGHT management team together, determine what skills you need (This will include eladership and the various aspects of leadership, and then employ the people.)



It seems that you might not have the funds to employ the RIFGT team at this stage, so i would suggest that you target the people that you want, discuss the opportunity with them, and outline their employment IF the venture capitalists provide the capital.



The business plan is MUCH more than an idea. Make sure you have a decent business plan.How do I assemble a good management team?
Motivate People sharing a common goal -Victory!

U need to be a good manager yourself,before you can ask your team to perform.

If you are looking for Venture Capital, then you gotta work hard-and so must your team.

When u got finanical probs,then the best team would be your close friends.