Key Harrington Barnes, PC

The importance of marketing plans

Even when Texas entrepreneurs have an outstanding product or service, it is essential that they create a marketing plan that will ensure that people are aware of their company. When creating a marketing plan to increase a pool of prospective customers, owners should create goals, figure out how best to meet them and track the results of marketing efforts.

Setting goals is essential, and each company will have different ones depending on the size of the business and what it will need to be profitable. They can range from attaining particular sales numbers to getting a certain number of visitors to a website. However, they need to be specific enough for a business to track them and see if they are being met.

Once goals are established, owners will need to figure out the best ways to attain them and then to set dates to check the progress of these efforts. Marketing efforts that are failing to meet goals are a waste of time and resources, so not only should the overall efficacy of a plan be tracked, it's important to keep an eye on how each type of marketing is working.

In addition to creating a marketing plan that will work for a start-up company, an important part of launching and then operating a business is knowing what regulatory compliance will be required, and that begins with the choice of entity. Should the company seek to attract outside investors, federal and state securities laws will need to be complied with as well. An attorney who has experience with new ventures can be a good source of information in this regard.

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