Month: August 2021

Finding Your Texas Business Mentor

Finding Your Texas Business Mentor

Starting a business is one of the scariest projects that you can take on.  Even when you have an incredibly supportive family they just don’t understand the things that keep you up at night.  Despite being as prepared as possible you will still encounter the unexpected, and that’s why you need a mentor.  Finding your Texas business mentor is easier than you think and we will show you how a mentor relationship works.

Your Relationship with a Mentor

Your mentor is there to help you reach your goals, much like a coach does.  You can learn a lot from someone who has already built a successful business. Your mentor is there to guide you and to even challenge you to reach your goals.  You need to be in regular contact with your mentor so you have the opportunity to learn from them.  You can have a formal mentoring relationship where both of you commit to meeting at regular intervals.  You can also have a more informal type of mentoring relationship where pick the brains of a business owner without any kind of structure.  Here is an overview of what to expect from a mentor/mentee relationship.

Finding a Mentor

Don’t jump onto the first offer of a mentor that comes along, you want to take the time to find someone that you can work with and learn from.  Take a look around your local business community and decide what you want to get out of the relationship.  You need to find someone that will help you reach your goals, that knows the business community and climate, that is trustworthy, and who can challenge you to work harder.  You need to be willing to sit down and listen to their ideas and tap into their experiences to create your own success.  A mentor/mentee can be a long-term business relationship or it can be someone that helps you through the startup phase until you find your own footing.  You can even check back here to be matched up with a mentor in your state.

After Your Mentoring Relationship Ends

There will come a point in time when you don’t need a mentor anymore.  That being said you should take the time to thank your mentor for the time and effort that they put in to help your business succeed.  The best thing you can do at this point in time is to become a mentor yourself and help the next generation of business owners achieve their goals.

Doing Business in Texas

Doing Business in Texas

Texas is one of the best states in the country for business, that’s one of the reasons you see so many companies moving their head offices to the state.  What makes doing business in Texas so favorable?  Let’s have a look at why so many startups and existing businesses are calling Texas home.

The Tax Benefits

Traditionally big companies set up their head offices in Nevada or Delaware because they were so tax-friendly.  Delaware alone has more than 1 million businesses registered in the state.  Both states don’t have any personal or state income tax.  Texas is slowly catching up.  It also doesn’t have personal or corporate taxes in addition to that it has a thriving economy to lure new business.  Corporations from tax heavy states like California are moving their head offices to Texas in droves because of this.

The Labor Pool

Hiring the right people can mean the difference between success or failure in any business.  Hiring the wrong person can destroy your business, especially if you’re a startup.  Texas has a huge talent pool for you to tap into.  Tech companies in particular are flocking to Texas just because of the talent pool.  It has great schools combined with a solid infrastructure making it the perfect climate for a business to succeed.

Texas Leads in Innovation

When people think of Texas, their first thought is of the oil industry but Texas is more than that.  While the energy sector will always have a big part in the Texan economy there is also aerospace, aviation, defense, manufacturing, healthcare, and a tech industry growing at an exponential rate.  There are modern airports all over the state.  Austin is home to South by Southwest (SXSW), a huge festival that celebrates tech and music.

Texas Loves Small Business

It’s not just big companies like Tesla that are welcome in Texas, Texas loves local mom-and-pop small businesses too. The Texas Economic Development Corporation is always there to help new business owners with everything from creating a business plan to finding funding for your startup.  There are plenty of experienced business owners who are ready and willing to act as a mentor for newbies.

If you are even considering starting a business then you absolutely need to keep Texas in mind as the place to start.  No taxes is a pretty big lure not to mention the thriving economy to help ensure your business success.