There are 24 million small businesses in the US. About 70% of these have only one employee-the owner. In addition, the recession is prompting more people to start their own business. Only 30% of family businesses continue after the owner dies. Only 15% last three generations.

To boost your business's odds of surviving and thriving, and to protect the value of your business for your loved ones you should create a personal business organizer...

First Purchase a three-ring binder, a set of eight tab dividers and a stack of three-hole-punch paper. Create seven sections 1) Basic Business Information...2) Where Things Are Located...3) How Things Are Done...4) Money Matters...5) Important People...6) Time-Related Maters...7) Advice, Know-How and Wisdom.

Second Create an eighth section called Confidential Information, and keep it in a secure place, separate from the binder. Let a trusted person know where it is.

This is what you would put in each section:

1. BASIC BUSINESS INFORMATION
� Legal business names and trade names, tax ID numbers, primary business addresses, Business telephone numbers, Web site and E-mail addresses, etc. The above should relate to the business, not to clients and employees. That information goes in its own separate section.

� What to do first-and whom to call−in case of emergencies and legal and financial matters. Name, address and phone number of your lawyers, accountant and insurance agent.

2. WHERE THINGS ARE LOCATED
� Where to find it guide-for business plans, contracts, documents, financial records, insurance policies, keys to everything, tax returns, user's manuals, etc.

3. HOW THINGS ARE DONE
� Day-to-day routines, procedures and anticipated trouble spots. Write down, step-by-step, the way you do everything-from making sales calls to handling your accounts receivable.

4. MONEY MATTERS
� Financial details about your business, including what it costs (weekly, monthly and annually) to run the operation. This is a good place to keep current profit-and-loss statements and information about your banking relationships.

� Inventory of business assets. With the help of your tax adviser, determine estimated present and future values of these assets. Since keeping the business liquid is critical to its success, provide instructions for what should be sold, when and for how much. List assets that can be converted to cash or income-producing assets,...obsolete or rarely used equipment...outdated inventory and machinery...stocks and bonds owned by the business...etc. Include whom to contact to get the stuff sold at a fair price-appraiser...auctioneer...competitors or start-ups looking for older equipment...real estate broker...stockbroker.

� Outstanding debts. Include amounts owed...due dates...payment terms...and what bills should not be paid (and for what reasons). Also provide details about obligations covered by life, disability and property/casualty insurance.

� Group and individual insurance policies. List premium due dates, benefits and amounts.

Note: If a policy lapses for nonpayment of premiums or goes beyond the conversation date, obtaining new coverage may be impossible or prohibitively expensive. The insurance company has the right to refuse reinstatement or conversions to an individually owned policy.

� Credit cards and lines of credit. Include credit limits, interest rates, which cards or lines should be canceled and which should remain open.

List those people who have company credit cards and/or have authority to access credit lines. List who owes the business money. Include amounts owed and repayment terms.

� Retirement accounts and benefits that you provide for employees. Include information about IRS tax penalties for early withdrawal...rollover options...and survivor benefits. Include the location of the pan documents and the person to be contacted in your absence.

5. IMPORTANT PEOPLE

This section is the who's who of your business...

� Started with yourself. Include everything-date of birth...full legal name...Social Security number...etc.

� Trusted advisers, such as accountants...insurance agents...lawyers... mentors...confidents...etc. Include what they do and who should be called first in an emergency.

� Directory of who's who-and who knows what about your business.

� Who performs the business's maintenance, repairs and service functions. Include service schedules and warranty and service contract information.

� Customer database. This should include pertinent information about each customer and key contacts. Include personal details, such as when the relationship began, his/her hot buttons (good and bad), hobbies, birthdays, wedding anniversaries, pet peeves, etc.

� If you have partners, detail the terms of the partnership. If you are incorporated, list the names, addresses, phone numbers and E-mail addresses of directors and top executives.

6. TIME-RELATED MATTERS
� List what your expect to happen and when by creating a list of business priorities. Include goals and objectives...short-and long-term plans...and strategies to increase profits, lower overhead, etc.

7. ADVICE, KNOW-HOW AND WISDOM
� Other stuff you keep in your head-favorite business books and resources...lessons from personal experience...tricks of the trade...etc.

8. CONFIDENTIAL INFORMATION

Some information about your business is for the eyes of only a privileged few. Record everything from trade secrets to computer passwords, software source codes, various access numbers, combinations to safes and other "for-your-eyes-only" information.
The section should include a list of anticipated problems...disgruntled employees and associates...problem customers...and other troublemakers.
Pick a trusted person-and a trusted alternate-and advise them of the location and contents of this section.

STAY UP TO DATE...