
Dan Brecher
Counsel
212-286-0747 dbrecher@sh-law.comFirm Insights
Author: Dan Brecher
Date: April 28, 2015
Counsel
212-286-0747 dbrecher@sh-law.comSo how can you boost the probability of your start-up’s success? To start, it helps to enter a “hot” industry where there is room for new businesses to flourish.
By way of example, the top 25 public companies in the gaming industry made $54.1 billion in revenues last year, according to research-firm Newzoo. The 2014 totals represent a 10.4 percent increase over the prior year, which indicates the gaming industry is poised for growth.
There are several common themes that unite these industries. First, they all capitalize on an unmet need. For instance, the food e-commerce sector is responding to Americans’ desire to eat healthy without having to spend a lot of time, i.e. trekking to their local farmer’s market. Many of the hottest industries, including agricultural software and gamification services, are also adapting existing technology to new fields.
Of course, simply entering a “hot” industry does not mean your start-up enterprise will be successful. From assembling the right team to creating a comprehensive business plan to choosing the right legal entity, there are countless steps that entrepreneurs must take before they hit it big. To get on the right track, it is advisable to consult with an experienced business attorney.
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