This step and the knowledge transfer plan can be combined with the preceding step if a single person from the co-operative will assume allof the managerial functions.

If, however, managerial functions are delegated to an executive team of two or three persons, the two activities will have to be separate, as you will be called upon to transfer different knowledge and know-how, depending on the position profiles (for example, responsible for purchases, responsible for sales, etc.).

Your Knowledge and Know-How Transfer Plan

A knowledge transfer plan sets out the WHAT, WHEN, HOW and WITH WHOM of the process for transferring your knowledge.

First off, you will be asked to specify the fields and areas, a "mapping" of the knowledge and know-how that you alone possess and that is not reflected anywhere else. This is what is called tacit knowledge.

Although every case is different, this knowledge can be grouped into five major areas relating to:

• the characteristics of your network and the nature of your relations with your network of suppliers (types of contracts, negotiation methods, methods of managing accounts payable, etc.);
• the characteristics of your network and the nature of your relations with your network of customers, in the case of a business that sells goods or services to other businesses, and the characteristics of your customer base if you are a distributor to the general public;
• the characteristics of your network and the nature of your relations with your network of business partners (accountant, banker, lawyer, notary, but also sectoral business association, chamber of commerce and other organizations,);
• the softer characteristics of your business, your management philosophy, your relations with your staff;
• the special characteristics of your business's process of producing and delivering goods and services, your "tricks" of the trade.

Methods of Transferring Knowledge

Methods have been established primarily for transferring professional knowledge in certain trades, much less so for business leaders when transferring their business.

One method is mentoring. For a while, the former owner acts as a mentor for their successor. They are a role model, a "sage," and transfers their expertise bit by bit via mentoring sessions.

Another method that can be combined with mentoring is the owner's temporary involvement on the board of directors as an expert adviser

A third method is coaching. The former owner intervenes, so to speak, as an instructor by guiding a person or persons, one on one, and thus transferring their know-how.

Finally, via special transfer meetings, it is possible to compile a certain number of bits and pieces of your knowledge in writing, although this is a profession in itself and usually necessitates recourse to a professional in the field.