Key Harrington Barnes, PC

November 2015 Archives

Investors see more value in companies with patents

While the hit TV show Shark Tank is entertaining, entrepreneurs in Texas can also learn a lot by watching how the 'sharks" talk about potential investments. Often, the issue of intellectual property plays a role in the sharks' decisions about what businesses to invest in. Entrepreneurs who have thought about IP and done things to protect their IP seem to do better in the 'tank."

Business plan tips for Texas entrepreneurs

A business plan is the roadmap an organization creates to spell out its vision and how it will achieve it. While it can be challenging to create such a plan, it can also be fun if approached with the right mindset. To simplify the process, it may be a good idea to use a business plan canvass, which is a one-page template with questions that will help determine what the business needs to be successful.

Writing a business plan in Texas

Business plans are important for individuals starting a business because they can help provide owners with a road map for how to run the company Along with helping define goals and determine how the organization will run, a business plan can also help people present their ideas and get funding. How a plan is written is important, especially if someone is seeking funding, so it's important that plans are tailored to their audience and are realistic.

Family business succession planning

Business succession planning is an important thing for family business owners in Texas to think about. Although family business owners often plan to leave their companies to their children, simply stating that intention is not enough to ensure that the business will have continued success. To improve the chances of a family business surviving, the future leader should be trained during a transition period leading up to the original owner's retirement date.