Tag: Naperville business law attorney
Why Do Some Businesses Fail While Others Succeed?
Posted on May 20, 2021
It is no secret that the majority of startups and new small businesses do not succeed in the long term. Only about a quarter of new businesses are still open after 15 years. Being a small business owner is not for the faint of heart. Owning your own business requires a great deal of time, effort, and creativity. If you want your business to be one of the businesses that is successful for years to come, it is important to take proactive steps toward this goal from the beginning. Preparation […]
Seeking Advice from Qualified Experts Can Save You Time and Money
Posted on May 18, 2021
Owning or running a small business or startup is no easy feat. Business failure rates are quite grim. About one-fifth of small businesses fail within their first year. Only about half of all small businesses make it to the end of their fifth year. Two-thirds of small businesses shut their doors before they reach their 10-year anniversary. The good news is that many of the problems that lead small businesses to fail are preventable. One of the best ways to ensure that your business has the best chances of continued […]
Avoid These Common Business Planning Pitfalls
Posted on April 22, 2021
Failing to plan is planning to fail. We have all heard this adage, but it rings especially true for business owners. Starting a business or taking over an existing business is a thrilling move for a would-be entrepreneur. However, when eagerness leads to haste, it is surprisingly easy to make mistakes that have significant legal and financial implications. Proper business planning is key in setting your business up for continued success. For those who already own a business or who are in corporate leadership roles, it is also important to […]
How to Choose the Right Partner for Your Business Venture
Posted on February 23, 2021
Selecting a partner to join with you in a business venture is, in many ways, similar to choosing someone to date and eventually marry. In fact, you will probably spend more waking hours in an average week with your business partner than you do with your spouse, making the decision all the more important to get right. And, like marriages, most business partnerships begin with excitement, high hopes, and starry-eyed visions of the future, yet many end with bitterness, acrimony, and broken relationships. In my practice as a business formation […]
Consider Adding Outsourced General Counsel to Your Company in 2021
Posted on February 9, 2021
Large corporations generally have at least one attorney, if not an entire legal team, working full-time to provide a wide range of legal services, including legal advice on issues such as contracts, asset protection, and liability. Such lawyers also provide immediate and trusted representation in any necessary legal proceedings. The vast majority of small businesses—and even most medium-sized companies—do not have the resources to hire an in-house attorney to offer guidance on everyday matters. However, businesses of all sizes still must deal with a variety of legal concerns, and if […]
Important Considerations for Maximizing Your Company’s Productivity
Posted on January 26, 2021
If you are a small business owner, you know that productivity can mean the difference between a successful business and a failing one. Sometimes, a lack of productivity can be the result of employees who are not attentive, while other times, a decline in productivity can be caused by the workplace itself. As a business law attorney, I help clients address productivity issues within their companies every day. In fact, many of my clients encounter similar problems. The following are some common productivity pitfalls of which business owners should be […]
The Importance of Knowing Your Customers
Posted on January 19, 2021
When you develop a new product or service, you do so with the intent of providing higher quality, increased value, or both to your existing customers, as well as to draw in new customers. To do so effectively, it is important to understand what your target audience wants and needs. Sometimes, however, a new product can be designed to match customers’ desires yet still fail due to unexpected factors. As a business law attorney, I have helped many clients bring new products and services to market with great success. I […]
Questionable Lawsuits and the Importance of General Counsel
Posted on December 30, 2020
There is little question that we live in a very litigious society. With the exception of a few landmark pieces of legislation, many of the rules by which we live have evolved from years of lawsuits being filed by one party against another which force the courts to interpret various laws and their applicability under the U.S. Constitution. Sometimes, however, a person will file a civil lawsuit that leaves many people wondering what could possibly have led to such an action. In my practice as a business law attorney, I […]
Charitable Giving for Your Company
Posted on December 16, 2020
As a business owner, you assume a number of obligations to your staff, your creditors, and your customers. In many ways, you also have a responsibility to yourself, ensuring that your efforts are properly directed and aimed at increasing efficiency, success, and profitability. In addition to all of these concerns, you also probably recognize the importance of giving back to the community that affords you the opportunity to be successful. Never has this been more important than it is today, as people across the country struggle to cope with the […]
What You Should Know About Incurring Startup Debt for Your Business
Posted on October 28, 2020
As a small business owner and a business law attorney, I understand that starting a new business venture requires money—or capital, as it is often called in the in the corporate world. Some new owners fund their fledgling business through investors or with money they have set aside for just that purpose while others take out loans. According to a new study, the type of loans that a business owner takes out may be linked to the future success of his or her company. Business vs. Personal Loans Unless a […]
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