As an entrepreneur, you may lie awake at night coming up with great ideas. You probably can’t sleep because you are reeling in excitement about starting your own company from the ground up and dreaming about its potential for growth and success. Although this portion of business formation in Texas is exciting, other aspects of forming a business may seem incredibly boring to you, such as making the right entity choice, learning about important tax liability distinctions between the different business structures, and potential legal issues. 

Making these decisions and dealing with the legal structure may not sound like fun, but it is necessary to your business’s success. Before you make these choices, it is important to speak with a knowledgeable Austin business attorney to see what makes the most sense for you. However, even before you come up with the right structure, it is important to define what you want for your company early on in the start-up phase, which can include:

• Documenting the various job positions you would like to have
• Being specific about job titles and duties of those positions that don’t exist yet
• Identifying job responsibilities and roles
• Determining what skills you will need in a business partner and/or employees

By thinking about these things and writing down a clear organizational structure, you will be able to hire the right people and have a clear direction for your company’s short- and long-term goals. This is ultimately attractive to investors and can help your business’s growth and success. 

For help starting a small business in a competitive environment, call the Posey Law Firm to speak with a knowledgeable Austin business formation attorney in a complimentary consultation, toll-free at 888.269.1962 or locally at 512-646-0828.