Management and Staffing Issues for Starting or Expanding a Business

D)   Management & Staffing Issues:

118. What experience do you have relative to the business (proposed or existing venture)?

119. Have you ever owned a business before? If so, be sure to provide details in your business plan.

120. Does your experience constitute a competitive strength within the industry?

121. Will your employment background benefit your business? Explain.

122. What management skills do you have?

123. What management style will you use in the business?

124. What will be your duties and responsibilities within the company?

125. Can you subcontract to other businesses some of the duties, functions and production processes?

126. How much will the business pay you each month? Consider your personal monthly expenses when arriving at a “salary” for yourself?

127. If applicable, how much will the business pay each partner or other shareholder within the company?

128. Do you need to hire any employees? If so, how many are required at start-up and beyond?

129. Do you how what forms you must complete as an employer when you hire an employee? Contact your local employment insurance agency for details.

130. What will be each employee’s duties and responsibilities?

131. How do you intent to recruit employees?

132. Who will interview prospective employees?

133. When will each employee be hired and how much do you intend to pay them?

134. Do you know how to handle the situation when an employee requests additional tax taken from their paycheck?

135. What methods have you chosen to motivate employees?

136. What approaches do you have in place to support employees?

137. What corporate culture do you want for your business?

138. Will you conduct regular performance evaluations on employees? If so, what measure and standards will you to gauge and monitor performance?

139. Will the employees need specialized training? If so, who will conduct the training?

140. Have you developed training guides for your employees?

141. If you are hiring employees, are you familiar with payroll deduction tables? That is, do you know how much to deduct from each employees pay?

142. Do you need to register for worker’s compensation (also known as employee accident insurance)?

143. Will employees have expense accounts? If so, what are the policy surrounding charging business expenses?

144. Will you pay employees mileage? If so, what is the regional amount you will pay?

145. What policy do you intend to use should employees use company resources for personal reasons/gain? Using the office telephone to make personal long-distance call, photocopying or printing personal material, and mailing personal letters with stamps paid for by the business are only a few examples.

146. Are you familiar with your particular state/provincial regulations should an employee quit his/her job without notice? Be sure you understand the responsibilities of you and the employee in such a situation. Contact the state/provincial employment agency for specific rules and regulations in your area.

147. If you hire and subsequently layoff or terminate an employees employment, you will need to provide the employee with a record of employment?

148. Have you looked into the labor laws for your area (state/provincial and federal laws)?

149. Do you need a lawyer, accountant, or other professional for your business startup? Explain the role of each strategic alliance.

150. Be sure to provide an updated resume for all key owners/partners of the company. Resumes will appear in the appendix of the business plan.

Categories: Management