People Power? You develop property, you develop product, but do you develop your workers?

Are your people your most valuable asset? The majority of entrepreneurs would say yes. But is developing this critical asset addressed in your business plan? If not, it should be.

"A development plan for your employees, both management and nonmanagement, will help you obtain funding, impress investors and lenders, and even prove your capabilities to potential customers," says Stanley I. Simkins, a principal with OHRD (Organization Human Resources Development) LLC, an organization development and human resources consulting firm in Albany, New York. "Everybody pretty much knows that you have to sell the management team in your business plan, but they don't necessarily show below that level. They're saying, 'You can count on [our people] today,' but they're not showing where [the staffing] of tomorrow will be."

Having a development plan for every-one in your organization maximizes their potential, builds loyalty, and increases productivity and profitability. Simkins says such a plan should address technical, interpersonal and management skills, along with personal development.