Creating Business Plans by Harvard Business Review

Author:Harvard Business Review
Language: eng
Format: epub
Publisher: Harvard Business Review Press
Published: 2014-03-05T16:00:00+00:00

SAMPLE MANAGEMENT SUMMARY

Partners: The management team comprises Ping Huang, the founder, and two other top leaders: Anjali Banerjee and Mercedes Meceda.

Huang, founder and CEO of TechEx, has relevant personal and professional experience. A Chinese national, she immigrated to the United States when she was 18 to study mathematics at UCLA. In college, she was active and maintained a healthy weight. After graduation, however, she started working in jobs that required significant travel. She couldn’t get to the gym and often found herself eating off the room service menu at chain hotels. In one year, she gained 30 pounds. She tried a myriad of diet and exercise plans; nothing worked, mainly because the plans were either inconvenient or not suited to her needs. Finally, she contacted a cognitive behavioral expert and started working remotely with a trainer and a dietician. She saw immediate results. She thought: “If only I could find a way to scale these services.” She arrived at MIT Sloan determined to make her business a reality because she knows all too well there is no current product that meets this intense need for busy women. At Sloan, she met Anjali Banerjee and Mercedes Meceda, and together they began plotting TechEx.

Huang has spent the bulk of her career in the online start-up world and is considered the consummate ideas person. After UCLA, she worked at an online beauty company, Glamazon.com, which gave users customized product tips based on their skin tone, coloring, and facial dimensions. She then worked as an operations manager at an online nutrition company, Nutello, which she helped sell to Soapytime.com for $10 million. She serves as CEO, overseeing the day-today operations at TechEx.

Banerjee is a native Brit. A Harvard graduate, she worked at Morgan Goldman investment bank where she specialized in mezzanine finance. She gained international experience with that firm by working in Dublin for several years as well as from a brief stint in Paris. A pragmatic leader who’s driven by numbers, Banerjee is TechEx’s CFO. A vegan whose passions include marathon running and mountain biking, she is also actively involved in Women on Wall Street, a group for women in finance, and is on the board of trustees at The Kiddo’s Lunch Place, a Boston nonprofit that helps children from low-income homes learn about healthy food choices.

Meceda, who majored in computer science at Stanford, is a former Dain consultant and has worked extensively in the health management field. She has a deep understanding of health problems associated with obesity, including hypertension, heart disease, and diabetes, and has devoted her career to helping others adopt healthier lifestyles. A former yoga instructor, she also maintains a popular blog—Frequent-FlyerHealth—that’s geared toward helping professional women who travel a lot for work stay healthy away from home by compiling lists of healthy restaurants, gyms, and spas by city, and offering short videos of yoga workouts that require minimal equipment and can be done in a hotel room. Her blog has more than 28,000 readers and she maintains a large Twitter following.

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