How To Write a Business Plan Part 13 – Team Slide | Ep. #22 Business Podcast
Summary
Part 13 How to Write Your Business Plan.
You need a team to make your business happen and in this episode I lay out how to set up your Team Slide for different audiences and an approach you should consider when building your business team?
We’ve covered your elevator pitch, problem, solution, product, market size, business model, traction, competition, barriers to entry and financial slides for your business plan. Now we’re talking about your team because together everyone achieves more ?
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Hello, friends. Welcome to another episode of Build a Business success Secrets. I’m your host, Brandon. See, White. And today we are on part 13 of our Siris of How to Write a Business plan in 13 slides. A quick review of where we’ve been. We did the overview of all the 13 sides in Part one. Then we did your elevator pitch and we did two episodes on your elevator pitch. First we talked about a script that you can use and fill in the blanks to get it. And then in the next part, we talked about the three mistakes to avoid that you do want to avoid. So check that episode out. If you haven’t already, then we went over your problem. Slide your solution. Slide your product, slide your market opportunity, slide your business model, slide your traction, slide your competition, slide your barriers to entry or your moat slide. And in the last episode, we covered your financials and if you are working them on them, awesome. If you haven’t got the work on them, get started because that is where we get to find out how much money we make and then, in part 13 Today’s episode. We tackle your teams line. Let’s not waste another second. Let’s get to it. All right, we’re hauling your team spider. Let’s talk about if you ways to present your team on the slide itself. If you are presenting, you’re giving an investor pitch a sales pitch, a pitch to recruit someone, whatever that is. If you’re giving the presentation, you want pictures. You can put a picture of each of your team members and then pictures, as in logos where they’ve worked. Don’t put a ton of text on there because here’s what’s gonna happen. Your viewers or your people you are presenting Thio are going to try to read your slide, and then they won’t be paying attention to you. So if you are presenting include pictures and logos. If you are sending this to someone, you can include some text but still include logos. I would give the person’s name their title, a very brief summary phrase of what they’ve done experience wise and then logos. Everybody wants to write an entire essay on this slide of their business plan, and you wind up using nine point font. No one can read it and no one wants to read it. Really. They want to know the highlights, so give them the highlights. That is how you set up the slide. Now let’s talk about building your team real quick. One of the keys to building 18 people come to me and say, How do I find a co founder? Or how do I know who to hire on my team? The first part of that process is understanding your strengths and then back filling your weaknesses with people who have that super power, if you will, and that’s their strength. So if you aren’t good with numbers, find someone who’s awesome at numbers. In the beginning, when you’re building your company, anything less than 50 people, you’re gonna hire what I call athletes, which means that they need to be multi function. They need to be able to do different things across your company, but try to find them in the weak spots of either you and or who they may work for, so that you’re building this complete team and not replicating people with a bunch of strength. You really can’t afford to do that in the beginning, but the key really comes down to you and or your co founders identifying what you are really good at and then back feeling that that’s going to create a roadmap for you, of the characteristics that you need for the positions that you’re going to feel that you have mapped out. And then same thing. What your board of directors is part of your team or your advisors. But let’s focus on your board of directors. Focus on people who can really help you, where you don’t have connections, or you don’t have the experience that you can lean on. Ah, few questions that you want to answer and having your business plan and have mapped out regardless. If you’re just starting your company and or you’re scaling it, especially when you’re scaling, it’s super important because things are going to start to go really fast. Your sales are increasing, and you’re gonna start to need people to backfill to help support all of your customers. So some questions to answer. What positions do you need to fill today that you don’t have? What do you need in six months and then what do you need in 18 months? You should map that out in the timeline and then in your financials have a row that goes along all of your projections, where it’s showing how many people are in your team and just to tie this all together. That should be a roll up of your HR tab in your financials where you are mapping all of the people that you want to hire, how much it’s gonna cost, etcetera. And from there Now you’re starting in your financial statements to build this entire picture Really a common operating picture of your business. So start to map them out and look for attributes. That would be ideal for that position based on what you’re trying to fill and then go and don’t compromise in the beginning, especially when we’re growing a company were. So we’re in such a hurry. We’re running so fast that sometimes we will tend to compromise and we can’t do that because the results of compromising are usually that the person isn’t a fit. And now we have to let that person go, which is never easy. Then we have to go back to recruiting, and now we have people potentially under them, and now it just starts toe all unravel, and it can really throw a hiccup. So in the beginning stages, the first few years of your company really try to pick these people as hard as it can be and is overworked as you’ll feel. And as stressed as you feel, the making a mistake in the early days really can be costly because it you don’t have the manpower. You don’t have the bandwidth, and it’s going to take that much more to replace that person. So there’s some things to get started on. You can write the’s in a notebook on a napkin, then have to be in a spreadsheet. But just start to get this stuff down on paper and put together your team side. Well, that was easy enough, right? Well, not really off course, but it’ll get you started by answering those questions and putting together your team slide. And here’s some good news. We are in the home stretch of writing your business plan in 13 sides. Our next episode, we will go over funding, and then we have the summary slide and we will have built and written our entire business plan in 13 sides. 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