Scholarship Assist

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Scholarship Consulting Business Plan

Management Summary

Steve Tracker, the founder and president brings a wealth of skills and experience to the leadership role at ScholarshipAssist.

Steve received his undergraduate and graduate (MBA) degrees at Babson College in Wellesley. After his schooling, Steve went to work at Babson in their financial aid department for two years.

After Babson he went to work for Fannie Mae. At Fannie Mae Steve was a project manager in the risk assessment group. In this group, Steve was instrumental in developing formulas to assess the lending risk for clients.

Through networking contacts, Steve received a fantastic offer to come and work at the Pew Charitable Trust Foundation, the second largest scholarship fund in the USA. It was quite an honor to receive an offer at such a well respected organization that he immediately accepted the job. Steve spent six years at Pew learning every detail regarding how Pew selected recipients for their scholarships.

After four years at Pew, Steve had a seed planted in the back of his mind that some day soon he would like to start his own venture. With this in mind Steve continued to work hard at Pew, learning everything he could while networking at the same time. After 14 months, Steve began to work on a business plan for a company that leveraged his intricate knowledge regarding scholarship awards.

7.1 Personnel Plan

ScholarshipAssist has forecasted the need for a total of four employees for the first couple of years. The following bullets indicate the different employees. Please review the following chart for financial information regarding the personnel plan:

  • Steve: operations, marketing, some financials, business development.
  • Researcher: this position will be responsible for the development and maintenance of the scholarship database.
  • Account manager (2): these position are responsible for the bulk of interactions between ScholarshipAssist and clients. These employees will ensure the complete satisfaction of the clients, servicing them in any way needed.
Personnel Plan
Year 1 Year 2 Year 3
Steve $24,000 $30,000 $40,000
Researcher $16,500 $22,000 $26,000
Account Manager $13,500 $22,000 $26,000
Account Manager $13,500 $22,000 $26,000
Total People 4 4 4
Total Payroll $67,500 $96,000 $118,000