Management
In this section, you’ll set out why you have the right management team to ensure delivery of the plan. But be aware that your backer will be looking for a different balance of capabilities in an established business compared to a start-up.
In an established business
There are two schools of thought on management in an established business. There are some private equity players who say that, as in a start-up, management is the most important of all considerations in deciding whether or not to invest. To back up that belief, they will offer management teams extremely generous, ratcheted equity packages conditional upon delivery of the plan.
At the other extreme are private equity players who regard management effectively as units of ...
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