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One of the major questions I ask business owners is: “Do you have a succession plan or exit strategy for your business?” I also ask employees: “Do you know if a succession plan or exit strategy exists in your company or organization?” You may be surprised to know that in my experience more than 90% tell me they have no succession plan or exit strategy. A 2004 CIBC Small Business Outlook Poll (conducted by Decima Research), indicated that 39% of small business owners plan to sell their business and 15% plan to have a family member take over. Yet, two-thirds (67%( of the entrepreneurs polled stated that they had not yet broached the subject of who will take over the company. To me that result is very telling and frankly is a motivator for writing this article. Succession planning is a critical factor for the long-term success of any business. Leadership transitions in business affect the entire organization’s continuity, employee retention, client retention a...

If you are looking for a partner, funding, angle investor or venture capital you will be asked for a business plan. Even if you are not in need of capital in the formation of your new business endeavor you will still be glad you prepared a business plan to help you prove to yourself that you have the right stuff and that the business is economically viable. The first step in the creation of your new business will be making a customized business plan. Please use this outline as your template to insure you do not forget anything important. This is a business plan format and outline I had created after reading over ten business plan books and taking the best of each of them and putting them into one outline. I give this to your freely and wish you great success in your new business. It is the great entrepreneurial spirit and the entrepreneur that build this great nation, glad to see you are one of us BUSINESS PLAN I. EXECUTIVE SUMMARY A. Form Of Business B. Introduction C. State Of Techno...

Is it worth writing a lengthy business plan for your roofing startup? Business plan preparation can be time consuming and many entrepreneurs are tempted to go ahead without one unless they really need it to prove the viability of ideas to partners or investors. Your roofing business won’t be a huge, complicated business for a few years anyway so why bother? Well, while I would not suggest that you spend months writing a 100 page report, it could be useful for you to have a 10 to 20 page document on your PC that can be your company blueprint for success. You can make changes to it as you slowly learn more about the business. It will be the key document that sets out exactly how your business is run. If done properly you should basically be able to hand this document over to somebody when they buy your business and they can take over with very little of your time needed to explain things to them. Here is a brief business roofing business plan template to give you some ideas on how t...