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Small Business Succession Planning Best Practices

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One key component critical to your success is scoping the competition. A business plan consultant studies the area where you will be located quite thoroughly. For example, if you plan on setting up a coffee shop on Main Street, or within the vicinity, the small business consultants you consult with will inquire about the number of existing coffee shops and the services they provide.

This may be nothing more than arranging training for employees or setting a timeline for goals to be met. It is not unusual, however, to find them becoming a temporary presence in different office activities.

You can find a variety of companies online to help you with your market research. For example: Sundale Research's (sundaleresearch.com) primary goal is to provide new and mature businesses with objective, accurate industry data and market analysis on a wide range of topics. Their market research is intended to save you time and money while keeping up with industry trends.

Executive Summary - One to three pages that summarize all the information to follow; come back and write this last.

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