Key Harrington Barnes, PC

April 2016 Archives

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.

Financial reports helpful following business formation

Business planning is an ongoing process that does not end at the point of selection of an entity form. The evolution from business start-up to the next Texas success story requires a commitment by ownership to analyzing and adapting to the reports and balance sheets reflecting how well or poorly a company is performing. This is where a solid business plan that sets the goals and mission of a company will provide ownership and investors with the tools they need to keep ensure their venture will succeed.

Businesses must understand trade secrets

Texas business owners interested in protecting their intellectual property may find it helpful to learn more about trade secrets. In general, any business information that is of value, isn't public knowledge and is protected by measures that maintain confidentiality can be considered a trade secret. Trade secrets are partially valuable because the businesses that hold them are the only ones with the knowledge, and nearly all states have enacted some form of protection. Most states derive their trade secret laws from the Uniform Trade Secrets Act of 1970, although some have modified these terms.

Lessons entrepreneurs could learn from savvy gamblers

Texas residents thinking of starting their own businesses could possibly learn something from seasoned gamblers. Veteran casino patrons are used to making quick decisions and changing strategies abruptly when things are not working out as planned, but many entrepreneurs remain doggedly loyal to their business plan even when it becomes clear that changes would be prudent.