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Pink Lady Bug Designs

Management Summary

Pink Lady Bug Designs will be staffed by employees that believe in the cause and believe in the success potential of a true team. No one person is more important than the next — each team member is integral to the synergy of the team and the ultimate success of Pink Lady Bug Designs.

7.1 Organizational Structure

Pink Lady Bug Designs is non departmentalized. Operating requirements are matched to the skills and creativity of existing staff members. Linda Herter is President and lead public relations representative, as well as the head of the sales staff for the company. Jim Herter is Vice President and Controller with primary responsibilities that include business development, financial analysis, and accounting.

As the business grows we will add an Office Manager/Administrative Assistant to assist Linda Herter as well as a Marketing/Sales Manager.

7.2 Management Team

Linda Herter, 48, President

Mrs. Herter brings a strong background and intimate understanding of marketing, merchandising and creative design. Employed by the Bigname University Alumni Association as the Assistant Director of Merchandising from August 1993 to April 2000, her primary responsibility was generating capital to fund various continuing education programs by developing and overseeing merchandising and affinity programs.

One of Mrs. Herter’s major accomplishments was the development of the Spirit Shop — a traveling merchandise store — that helped local Alumni Clubs across the United States raise money to fund their activities. Her travels have taken her from coast to coast and allowed her to create a diverse network of college and university contacts.

She was also instrumental in developing and administering many internal retail programs at the Bigname University. These responsibilities included oversight of game day retail shops for the Alumni Association, development of the License Plate program, and annual creation of the Christmas Ornament.

Prior to her tenure at the University, Mrs. Herter served in various managerial roles in the retail apparel industry. Casual Corner, Victoria’s Secret, and Genie Shop have been the beneficiaries of her expertise.

Mrs. Herter is also the 2001 Honorary Chairperson for the Breast Cancer Awareness Run sponsored by the American Cancer Society. She has been a member of the St. Joseph’s Regional Medical Center Women’s Cancer Task Force since October 2001. Linda also has served on the American Cancer Society Executive Committee since August 2001. Currently, she is the Chairman of the Secret Sisters Society Luncheon to be held in September 2002 which will raise funds for under-served women in the community that do not qualify for free mammogram programs.

Jim Herter, 42, Vice President and Controller

Mr. Herter has been employed as the Business and Facilities Manager by the Bigname University Food Services department for the past thirteen years. His primary duties are the planning and facilitating of a $31 million budget, oversight of the department’s business, accounting, maintenance and identification card production staff, in addition to conducting management training in the areas of financial analysis and planning. Jim also provides direction to the department’s management staff regarding capital and plant fund planning. He is responsible for working with management and administrators to ensure that equipment and facilities are maintained and food service equipment technologies are kept current. He frequently assists the Food Services catering department with logistics and coordination for events ranging in size from several hundred guests to several thousand.

Mr. Herter’s background in business and the food service industry dates back 25 years when he began working in restaurants at an early age. After leaving State University in 1981, he became a part-time employee with Taco Bell (at the time a PepsiCo company) while attending classes at University. Within five years he was promoted to District Manager, overseeing as many as eight stores. During this time, his district was consistently in the top 20 in sales the United States. Jim’s district was selected as a national test market for several new products and systems rollouts because of high quality, service, cleanliness, and hospitality ratings. In addition, his expertise was used to facilitate the opening of many new units in the greater Chicago area and oversee the in-store “fast track” training of upper management.

Brian Egendoerfer, 35, Web Engineer/Consultant

The Bigname University currently employs Mr. Egendoerfer as the Manager of Web Development Services. From 1995 to 2000, Mr. Egendoerfer was Director of Alumni Information Technology for the University’s Alumni Association. During this time, he helped establish and grow the Alumni Association Internet presence for the University and has extended the available Internet technology to over 100 University-related alumni groups around the world. Mr. Egendoerfer was the originator and driving force behind the Alumni Association’s Internet community which provided an online directory, lifetime email forwarding, and discussion lists in a private alumni-only Internet community.

Mr. Egendoerfer worked for Miller and Miller Information Management Systems from 1992 to 1995 in a support/consultant role. Miller and Miller designs and integrates Novell, UNIX, and Windows NT LANs and also offers business process, workflow and image management consulting services. Mr. Egendoerfer graduated from University in 1989 with a Bachelor of Science degree in Physics. He obtained a Master of Science degree in Administration, magna cum laude, from the University’s College of Business Administration in 1999.

Board of Advisors

Craig A. Sponseller, M.D.

Dr. Sponseller is a clinical research physician in Hepatology and Transplant Hepatology at Saint Louis University School of Medicine. He is trained in Internal Medicine at the Medical College of Ohio and in Gastroenterology/Hepatology and Transplant Hepatology at Saint Louis University School of Medicine. Dr. Sponseller began his research experience at Pennsylvania State Medical School and continued his experience in cancer research at Ohio State University School of Medicine. His clinical research in treatment of hepatitis and advances in transplantation have been presented across the country and published in several medical journals. He is intricately involved with the Cancer Center in management of liver cancer and other types of tumors. He is a member of the American Association for the Study of Liver Disease and the American Gastroenterology Association.

Dr. Sponseller traveled with Naomi Judd during her lecture circuit “An Evening with Naomi Judd” providing information and discussion regarding hepatitis C awareness. He continued to reach the public on treatments and management of hepatitis while participating in the Judd’s 2000 Power to Change Tour in affiliation with the American Liver Foundation. Dr. Sponseller has been a strong advocate in disease awareness nationwide and has participated in many local charities and philanthropic events.

George Friend, M.D., F.A.C.S

Dr. Friend graduated from Washington University School of Medicine in St. Louis, Missouri, Dr. Friend completed his general surgical residency at the University of Miami Hospitals and did vascular surgical training at Baylor University Hospitals. He has been in practice in South Bend since 1971.

Board certified, Dr. Friend is a fellow of the American College of Surgeons. He is a member of the Indiana State Medical Association and the St. Joseph County Medical Society. From 1972 through the 1990’s he was Director of Surgical Education at both Memorial Hospital and St. Joseph’s Medical Center in South Bend, Indiana. He served as chairman of the Department of Surgery at Memorial Hospital and St. Joseph Medical Center and vice-president of the medical staff at Memorial Hospital. He is currently Medical Director of Breast Care Services at Memorial Hospital in South Bend, Indiana.

Dr. Friend will bring a well-informed perspective on current issues concerning breast cancer patients. He also is well connected in medical and pharmaceutical communities across the United States and will provide guidance concerning the appropriate business contacts within these communities. A lifelong resident of South Bend, Dr. Friend is married and has four children.

Karen Castles-Gray

Mrs. Gray of Atlanta, Georgia, is President of Castles Sport, an upscale alumni apparel manufacturer with offices in New York, Massachusetts, and Atlanta. Castles Sport is licensed with over 40 prominent universities in the United States and has produced over $3 million in revenue in 1999. The Castles Sport Collection is featured in some of America’s finest department stores including Parisian, Profitt’s, Dillard’s, Belk and Jacobson’s. Castles Sport is generally considered to be the up and coming supplier of Ralph Lauren quality and style goods with college logos that are targeted to the alumni market.

7.3 Management Team Gaps

The business strategy for Pink Lady Bug Designs is to start with a minimum of overhead expenses. As a result, Linda Herter with have to cover many of the day-to-day functions that would ordinarily be handled by other staff members. This will cause potential constraints on her time, time that would be better spent on business development and public relations.

7.4 Personnel Plan

The personnel plan is included in the following table. It shows the owners’ salary followed by other critical positions. We will employ part-time positions to help with office/clerical duties until such time that the business growth requires the addition of full-time staff.

Sales staff salaries will be built upon a base with performance-based bonuses. All employees will be involved with a profit-sharing program that is also based upon the success of the company.

Personnel Plan
Year 1 Year 2 Year 3
Linda Herter – President $40,000 $60,000 $100,000
Jim Herter – Vice President/Controller $0 $20,000 $42,000
Office Manager/Administrative Assistant $0 $32,000 $33,600
Marketing/Sales Manager $0 $20,000 $42,000
Total People 1 4 4
Total Payroll $40,000 $132,000 $217,600