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Is your small business ready for transition?

Whether your Texas business is just starting out or you have worked for decades to build a strong reputation in your industry, you likely have great plans for the future. Perhaps you have ideas for expansion, or you may simply want to establish a successful company that will support your family and provide something you can pass on to your children.

If creating a legacy from your business is in your plans, you should know that this does not happen automatically. In fact, it might behoove you to understand exactly what may happen to your small business if you should become incapacitated or pass away before you have a transition plan in place.

Could your company benefit from a liability release form?

Owning and operating a business comes with many risks for being liable for certain outcomes. For instance, if a person participates in an activity on a company's premises and suffers injuries, the company could be liable for those injuries. Unfortunately, facing liability for such incidents could be detrimental to your company in various ways.

As a business owner, you undoubtedly know the importance of protecting your company as best as possible. If you know that certain elements of your business operations could put clients or customers at a certain amount of risk for harm in the event that something goes wrong, you may want to consider having a liability release form.

Having a client list is important to growing a business

Whether you have just started your business or have been in operation for years, you undoubtedly want to ensure that you provide a quality product or service. You understand that having happy clients and customers can ensure that your company sees further success in the future.

Building a customer or client base is an important aspect of running a business. Keeping up with these individuals through email or other forms of contact could provide you with useful information that you could use for a variety of purposes, including expanding your operations, ensuring customer satisfaction and providing new information to those who have already utilized your company.

Does your contract have all the right stuff?

You may think of your small business as something very personal to you. Your employees and customers are like family, and you enjoy the comfortable, informal relationships you have with them. However, business is business, and at the heart of many successful business deals is a solid contract.

While you may not be ready to ask your employees to sign a non-compete clause, you are losing some critical protections if you are not using contracts with your clients. A contract may not prevent a lawsuit, but a well-written agreement can provide you with solid ground on which to stand if a dispute should arise with one of your clients.

Laying the foundation for your company's future success

Every business is different, and what you will need to do to ensure your Texas company's success depends on what you hope to accomplish, the type of business you plan to start and multiple other factors. The choices you make during the business formation process will impact your company for years to come. It's smart to know how you can make decisions that will lay the foundation for your future success.

There is a lot to think about and consider during the business formation stage, but you do not have to walk through it alone. There is significant benefit in having experienced guidance from the earliest stages of your business, lowering the chance of costly missteps or regrettable decisions. There is a lot at stake during this stage, but you can take steps now that will greatly benefit you in the future.

Is a merger or acquisition best for your company?

Like most business owners, you are probably always on the lookout for ways to improve or expand your company. No matter how long you have been in business, you understand that the world can move quickly around you, and standing still can mean becoming obsolete. This is what motivates you to keep current with the trends of your industry and stay alert for new opportunities.

If you have learned that the fate of another Texas business is on the line, you may wonder if this is the right opportunity for you. The other business may be struggling to remain solvent, seeking to sell or looking for a company to partner with, among other circumstances. It is possible that this could be just the chance for you to grow your business, but you must first gain as much information as possible about your options.

A small business and a startup are not the same

Wanting to start a business is an admirable goal. You likely already understand that you will have a lot of difficulties to face as you work to achieve this goal. Fortunately, having the right information about where to start could help you immensely.

As you think about your future company, you may want to decide whether you want to create a small business or a startup. This decision may seem unnecessary because you may have thought that a small business and a startup were the same, but that is not the case. Knowing the difference between the two could help you decide your business path.

Are you considering using restricted stock for your company?

Running a company has its ups and downs. If you have recently gotten your company off the ground, you may not have garnered substantial success as of yet. However, you may have reached a number of important milestones and feel that your company is well on its way to making it big.

As your company grows and you bring in more parties, you may consider the use of stocks in your business. One area that you may have a particular interest in is the use of restricted stock. As a small company, restricted stock may prove more useful to your business.

Is a former employee stealing your clients and staff?

When a customer comes into a business and steals an item from the shelves, the business suffers a loss. A prudent business owner will take steps to prevent such theft and even to pursue restitution from someone who commits the offense. However, in some Texas businesses, there is a type of theft that may have an even more devastating effect on the business.

An ex-employee who steals clients and other employees can quickly send your business into a tailspin. You may find your production grinding to a halt while you try to fill vacancies on your staff, and your profits may plummet as your customers jump ship. Like the prudent store owner, there are steps you can take to prevent this type of theft and options for seeking justice.

Protect your business in breach of contract matters

Contracts are useful way to protect the interests of your company. Unfortunately, however, other parties may deviate from the terms of the agreement or refuse to follow the terms of the contact. A breach of contract is more than just an inconvenience – it is a threat to the well-being of your Texas business.

It is in the interests of all business owners to understand how to proceed when contract matters do not go as planned. You have the right to take action, enforce the terms of the contract and seek a beneficial resolution to the matter. There are various remedies that may be available to you, including securing damages. 

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Cleburne, TX 76033

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