The Business Mentoring Center
The Business Mentoring Center

Corporate Cranium Mentor Articles

What is Your Business Worth?

By Bob Halagan, Halagan Law Firm, LTD. | November 1, 2018

A common question for business owners when they start to ponder their exit strategy is how to figure out what their business is worth.  Valuation experts like the Corporate Cranium’s Roben Hunter can give you an expert assessment based upon professionally accepted valuation methodologies.  Roben will assess value based upon multiple factors including past performance, future projected earnings, sales of similar businesses and recognized industry based multiples.  All of those are especially valuable when looking at an arm’s length sale to an outside party.  I highly recommend her when you…

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What to Look For in the Next Contract That You Sign

By Bob Halagan, Halagan Law Firm, LTD. | August 6, 2018

Ok, so you are about to sign a contract with a new customer and they send you a ten-page contract to sign before you can start work; what do you look for in that contract?  While it’s a good idea to have complex contracts reviewed by an experienced attorney, there are some basics you can…

Preparing Your Business for a Separation Between Partners

By Bob Halagan, Halagan Law Firm, LTD. | April 18, 2018

One of the most difficult challenges a business owner can face is when things go wrong with another partner/owner and a separation becomes necessary. Here is a checklist of the preliminary things I would look for as either your attorney or as a mediator/business counselor looking to structure your transition.

Managing Relationships in a Time of Discord

By Bob Halagan, Halagan Law Firm, LTD. | August 1, 2017

There is so much noise in the air these days about all the things that separate people, the things that make us different and isolate us from one another. Everyone seems focused on their individual concerns without a commitment to the greater good. Managing employees, shareholders and business relationships can be daunting in this environment. …

What Factors Should You Consider in Starting a Business with a Partner?

By Bob Halagan, Halagan Law Firm, LTD. | April 29, 2017

One of the bravest and most difficult decisions a person can make is decide to go into business for him- or herself.  The second bravest and most difficult may be the decision to go into business with a partner.   Taking on a partner in many ways is like getting married, so it’s important to know…

The New Minnesota LLC Act

By Bob Halagan, Halagan Law Firm, LTD. | October 1, 2015

Effective August 1, 2015, the Minnesota Legislature adopted a new law governing Limited Liability Companies (“LLC”).  This law has the greatest impact on new LLCs but also has implications for existing LLCs and the relationship between their member/owners.  The adoption of the new law is intended to reduce the formality associated with operating an LLC. …

How to Prepare for an Unemployment Hearing

By Bob Halagan, Halagan Law Firm, LTD. | May 3, 2015

If you have terminated an employee or are in a business with regular personnel turnover, you have probably been faced with the prospect of attending an unemployment hearing. Here are some tips on how to get ready for a hearing. Do you need to participate? The first question is whether to contest a claim for…

Watch Out For The Worker’s Compensation Retaliation Claim!

By Bob Halagan, Halagan Law Firm, LTD. | May 3, 2014

One of the “growth” areas in employment litigation is retaliation claims, and in particular retaliation claims relating to worker’s compensation. Close ties between organizations representing employees in worker’s compensation claims and attorneys who handle plaintiffs’ employment retaliation claims, make it very likely that if you terminate an employee with an outstanding worker’s compensation claim, you…

Employee or Partner: How to Decide When to Make a Key Employee an Owner in Your Business

By Bob Halagan, Halagan Law Firm, LTD. | January 1, 2014

In most small to mid-sized businesses, the question arises at some point in the life of the business whether to bring in a new or additional partner to the company.  Usually the question arises under one of two circumstances: (1) the employee is a dynamic rain-maker and you want to make sure he or she…

Should Arbitration Be a Part of Your Contracts?

By Bob Halagan, Halagan Law Firm, LTD. | December 1, 2012

The cost of legal fees in resolving disputes remains one of the biggest challenges in managing your business.  Disputes that are over the minimum you can bring in conciliation court (generally $7,500 – $10,000 depending on the court) and less than $50,000 can net you a legal bill higher than the amount you recover.  Are…

Effective Employee Discipline (Or How to Fire an Employee Without Getting Sued)

By Bob Halagan, Halagan Law Firm, LTD. | September 1, 2012

One of the most unpleasant tasks for a business owner is confronting the non-productive or misbehaving employee.  Employees are a company’s most valuable resource but they can also be a sinkhole of wasted costs, time and resources if the “rotten apple” isn’t quickly pruned.  Here are some approaches to consider when handling the employee in…

Do’s and Don’ts for Business Sellers

By Bob Halagan, Halagan Law Firm, LTD. | July 1, 2012

If you are thinking that about selling your business, there is a long checklist of things to do to get ready for a sale.  Here is a list of some of the things you should consider: Packaging Your Business for Sale DO spend time with your accountant to make sure your financials are in acceptable…

Building Performance Pay Into a Union Contract

By Bob Halagan, Halagan Law Firm, LTD. | March 1, 2012

One of the biggest criticisms of unions is the concept that they reward the poorest performer while failing to adequately compensate the best performers.  Union contracts typically have a one-size fits all pay scale that applies to everyone in particular classification (ex. every mechanic gets paid the same wage).  Some union contracts focus on seniority;…


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