Passing an owner-operator's experience onto the next manager

I think most here are going for businesses where the owner is not working in the business. We're targeting companies with 10-19 people to start so the owner will be in it most of the time. We need to get his info out of his head and into the next manager, likely another employee in the business.

Has anyone does this? Is it enough to interview the current owner and pass his info along (in the form of SOPs/documentation) or did you do anything else to get that critical operating information out?

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