What should I include in a business plan?

The following outline of a typical business plan can serve as a guide that you can adapt to your specific business: Introduction Marketing Financial Management Operations Concluding Statement Q: What should be included in the introduction to my business plan? A: The introductory section of your business plan should give a detailed description of the business…

What’s involved in succession planning for family businesses?

Transferring the family business requires the family to make a determined effort to do the following: Create a business strategic plan. Create a family strategic plan. Prepare an Estate Plan. Prepare a Succession Plan, including arranging for successor training and setting a retirement date. These are the four plans that make up the transition process.…