1. Develop the organizational hierarchy of your company (see below)

Continuing on the back-end of your business plan (PA4), organization is key for the success of your new business venture. Organizing your resources to yield maximum returns and fulfill financial obligations while providing solutions to target customer needs is the main theme. In this phase of your business plan you must outline the duties and responsibilities for getting your new business venture through fruition. Who will be in charge of what, what is their background for the position, and gave them work together before. VCs want to know much detail about the executive team. This would include who will actually write the business plan and who will implement the plans to build a venture. An understanding of how to make a venture team work effectively, constructing a solid external Advisory Board, describe the roles of other stakeholders involved in the venture, and have a plan for legal organizational options for the venture and the implications for liability, protection, and taxes.