Key Harrington Barnes, PC

August 2015 Archives

Insight from HR leaders crucial for business strategy

Business owners in Texas can gain a lot of valuable information by listening to staff in the human resources department. Because HR leaders are involved in recruiting and retaining employees, they have an in-depth understanding of what a company needs to do to compete for skilled talent. When company executives are strategizing about improving their bottom line, they would be wise to include HR leaders in the conversation.

A strategy plan may be best for Texas entrepreneurs

In the 21st century, a strategy plan may be preferable to a business plan. Today, businesses grow and evolve faster than ever while new tools make it easier than ever for anyone to start a business. Instead of a static business plan that is based more on what a Texas entrepreneur thinks will happen, a strategy plan can grow and evolve if and when circumstances warrant.

Retirement for business owners in Texas

When someone starts a business, one of their goals may be to sell the organization and retire off the proceeds. It is important that people plan for this eventuality rather than just assuming that they will be able to obtain enough money from a sale to live off of in their golden years.

Developing an effective business strategy

Texas entrepreneurs who are considering a new business venture will likely understand that careful planning often makes the difference between its success and failure. However, they may sometimes find it difficult to concentrate on sifting through mountains of data when opportunities are beckoning and profits appear to be ripe for the taking. There is no single correct way to develop an effective business plan, but there are a number of techniques that have helped new owners to identify important information and understand their markets.

Unexpected changes in business ownership

A small Texas company could face a period of turmoil in the event of the death or other premature departure of a business owner. When a departure is expected, there is time to evaluate how or if the company will continue to operate. In some cases, employees might be given notice that operations will conclude. In other cases, a sale of the business could be orchestrated to ensure that the company has the opportunity to continue to operate. When changes happen suddenly, however, employees can be left wondering if they will continue to have jobs.