It’s a staggering fact that 20% of new businesses will fail in their first year. And half will not make it to the five year point. Starting a new small business can be challenging and is often overwhelming. But the best way to ensure success is to be prepared right from the start. Don’t jump into anything without doing your homework first – and avoid these common mistakes at all costs.
Not Spending Enough Time Planning
You can never be too prepared when launching a small business. Take the time during the important planning phase to develop a strong business plan, including a detailed financial plan for the business and an effective marketing strategy. Thoroughly research who your ideal customer is, and examine the market in order ensure that your product or service is priced appropriately. You will likely need this information in order to obtain a small business loan, and it will give you a solid foundation on which to grow the company.
Not Hiring an Experienced Small Business Attorney
From beginning to end, there will be legal issues to contend with, documents to prepare and submit, licenses to apply for, and employment matters to understand. Making a mistake at any time can wind up costing your business unnecessary fees or fines, or much more if a lawsuit is filed against the company. Churchill, Quinn, Richtman & Hamilton, Ltd can be a valuable resource for any legal challenges your business may face.
Choosing the Wrong Type of Business Ownership
Don’t be hasty in your decision of how to classify your small business. You can choose from sole proprietorship, partnership, limited partnership, limited liability company (LLC), corporation (for-profit), non-profit corporation, or cooperative. Selecting the correct entity structure is crucial to the success of your organization. Our attorneys have in-depth experience in business formation and can help you determine the best option for your small business.
Not Investing in Marketing
It’s wise to spend cautiously, especially in the start-up phase, but there are some things that require an investment in order to help your business grow. Many new businesses believe word-of-mouth advertising will be enough. Chances are – it will not be. With competition from brick and mortar businesses, as well as seemingly unlimited online outlets, letting potential customers know about your business and setting yourself apart from the rest is important to survive.
Not Putting Agreements in Writing
Written contracts are extremely important, as they eliminate any possible misunderstandings that could lead to a lawsuit against your company. Always insist on written agreements before providing a product or service or before entering into a partnership. Our experienced attorneys can help create appropriate contracts for these situations, as well as non-disclosure agreements, non-compete agreements or general employment contracts.
Churchill, Quinn, Richtman & Hamilton, Ltd is highly proficient in business law and we are committed to helping our clients achieve the highest levels of success. Contact us at 847-223-1500 to learn more or to schedule an appointment.

For everything that veterans sacrifice for our country, it is an honor to be able to find a way to make their lives easier when they are in need. Churchill, Quinn, Richtman & Hamilton, Ltd’s own Jencie Richtman is committed to accomplishing that goal, and has been recognized as a standout volunteer for Public Interest Law Initiative’s veteran’s pro bono program.
Estate planning is so important in order to protect your assets and ensure that everything gets properly passed on to your heirs. But in the case of blended families, things can get complicated. Being part of a blended family where people have been widowed, divorced or remarried can present its share of challenges, with estate planning being one of them. Read on for some tips to navigate these unique hurdles.
Employees may not have a clear understanding of what is legally allowed in the workplace. They may be asked to sign documents that take away important rights, or they could even be asked illegal questions during the interview process. Churchill, Quinn, Richtman & Hamilton, Ltd effectively represents workers who feel that they have been treated unfairly as well as employers who need to defend their actions. Here are some examples of employment disputes for both employers and employees that we can help resolve.
When a person suffers an injury due to the negligence, carelessness or actions of another person (whether intentional or intentional), a personal injury lawsuit may be the resulting response. You may be wondering what types of injuries are typically involved in a personal injury case, and what type of compensation you may be entitled to if you do file a lawsuit. Here is an overview of the types of cases we can assist with and what you might expect from a personal injury lawsuit.
A seller puts their home on the market, and gets a buyer who believes they have found their dream house. Both parties feel they are all set for the loan closing, as the contract was signed and the loan has been approved. So what could go wrong? Unfortunately, there are a number of problems that can pop up before or during the closing that you may not be prepared for. Working with an experienced attorney is the best way to avoid unplanned obstacles like the following, or to help deal with them if they do arise.
You’ve heard the expression about possession being 9/10 of the law – but is it really? If a person has physical possession of something that rightfully belongs to someone else, and they intend to keep it, they may throw this saying around as a way of validating their actions. There is a law that addresses this that is known as Replevin. Here are some examples of how this law can help an affected party retrieve their belongings.
Many people avoid thinking about the topic of estate planning, because they don’t like the thought that they will be gone one day. But ignoring the facts just fuels the existence of myths like these that are far from the truth. The sooner you get your estate in order the better, and it is best to start with accurate information. Here are some common misconceptions about the estate planning process and the realities behind them.
The death of a loved one is one of the most stressful times in life, as it can happen suddenly or after a long illness when family and friends are exhausted from months of care preceding the death. The question of “What do we do now?” can be overwhelming. Hopefully, these suggestions will help provide a roadmap for the days that follow.
It’s not always easy to find a great activity that the whole family can enjoy together. So don’t miss the chance to take part in the 28th Annual Grayslake 5K Run & Walk taking place on Saturday, July 13, 2019 at 8:00am. The Grayslake Chamber of Commerce hosts this event every year, and
Get your best pair of running shoes ready for the 25th Annual Antioch Run for Freedom being held on Thursday, July 4th, 2019. Churchill, Quinn, Richtman & Hamilton, Ltd is a proud sponsor of this 5K run / walk which has become a long-standing tradition among local families and competitive runners alike, as the challenging USATF Certified course winds through the beautiful streets of Antioch.