The Business Mentoring Center
The Business Mentoring Center

Corporate Cranium Mentor Articles

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 look for to see if your new customer is offering a deal you really want to take. Term of the contract. In most contracts there is a “term” or period of time for which the...

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Growing Profitability for Your Business Through Employee Engagement

By Sharon Berglund | Bergland HR Consulting / August 6, 2018

If you own or manage a business it is no secret that there is a war for talent. With McDonalds paying upwards of $15 per hour for entry-level high school students it is a major challenge to recruit high quality employees. High employee engagement is the solution. While serving in my former role as the…

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How Google Chrome’s Browser Changes Will Impact Your Website

By Suzie Meier / August 6, 2018

You may have heard rumblings about the upcoming Google Chrome 68 changes.  For months, Google has been warning users that all websites will need to have SSL Certification for their Chrome browser, or be forever doomed, “NOT SECURE”.  This update, slated for July 2018, has been in the works for years in an effort to…

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Where Will Your Retirement Money Come From?

By Mark Hegstrom, Waterfront Financial Group / August 6, 2018

Tip: Retiring Older. One survey found 22% of baby boomers have found it difficult to pay mortgages or rent and have postponed plans to retire. Source: Insured Retirement Institute, 2018 For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security Social Security is the government-administered…

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The Key to Business Success & Financial Independence is…Leverage

By Kelli Hoskins, Master Business Coach / August 6, 2018

One of the biggest keys to business success is…leverage.  John D. Rockefeller famously said “I would rather earn 1% off 100 people’s efforts than 100% of my own efforts.”  As one of the founders of Standard Oil and the richest man of his time, John D. Rockefeller had successfully mastered the game of business through…

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Study: Employees Are Financially Stressed and What it Means to your Business

By Mark Hegstrom, Waterfront Financial Group / April 24, 2018

I read in the paper today (Star Tribune, 1/1/2018: “Helping workers solve money angst”) some amazing figures.  According to the surveys that were cited, there are a considerable number – a third – of employees who feel uncertainty about money.  These folks think we will be going into a recession this coming year. This is…

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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.

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Why Retirement Readiness is Not Just a Catch-Phrase

By Mark Hegstrom, Waterfront Financial Group / August 1, 2017

Many employees are confused about retirement and are unprepared to retire on time.  According to the National Institute on Retirement Security (March 2015), 45% of working-age households do not have a retirement account of any kind (e.g. IRA or 401(k)), and the average working-household has virtually no retirement savings – only $2,500 average – when…

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Changes to Minnesota Estate Tax for 2017 and Beyond

By Roben Hunter, Hunter Advisors, PLLC / August 1, 2017

The Minnesota State legislature has changed the estate tax exemption for 2017 and beyond.  The old law states that Minnesota estates that were valued at over $1.8 million dollars had to file an estate state tax return in Minnesota, with the potential payments to the State at an estate tax rate of 16%.  Under the…

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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. …

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Budget for Profit

By Kelli Hoskins, Master Business Coach / April 29, 2017

Here’s why paying yourself profit is as important and easy as paying the rent…  As small business owners, most of us are familiar with the term “Budget.”  According to wiki, a budget is ‘a list of all planned expenses and revenues’ that ‘enables the actual financial operation of the business to be measured against the…

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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…

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Be on Your Guard for Slips and Falls all Winter Long

By Gary Sorenson, Insurance Brokers of Minnesota / April 24, 2017

People in Minnesota don’t have the luxury of staying inside when the temperature drops below zero or there’s a foot of fresh-fallen snow on the ground. It’s easy to get develop a routine – bundle up in your parka, boots, hat, gloves and scarf before heading out the door. This routine may protect you from…

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Better Late Than Never

By Roben Hunter, Hunter Advisors, PLLC / January 1, 2017

Governor Mark Dayton recently signed tax legislation that retroactively conforms most state corporate and personal income tax provisions to the federal changes that have been enacted since December 31, 2014. Two provisions that did not change to the federal provisions, however, were bonus depreciation and IRC Section 179 depreciation.   There will continue to be differences…

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Healthcare Costs in Retirement

By Mark Hegstrom, Waterfront Financial Group / October 1, 2016

American workers are split about 50/50 when asked if they are confident they will have enough money to pay for medical expenses in retirement. In a 2015 survey, 42% of all workers reported they were “not too” or “not at all” confident they would have enough money to pay for their medical expenses in retirement.…

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The Top 11 Reasons Accountability Eludes Your Organization

By Kelli Hoskins, Master Business Coach / October 1, 2016

When I speak with business owners, one of the most frequent questions I get asked is ‘How do I get my people to do what I need them to do?’ i.e. How do I hold them accountable?  Holding others accountable, or fear of holding others accountable, is one of the biggest challenges many business owners…

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Choosing a Retirement Plan that Fits Your Business

By Mark Hegstrom, Waterfront Financial Group / August 1, 2016

One survey found that the most pressing financial concern facing 42% of small business owners is developing a retirement plan and exit strategy.¹ If you have yet to develop a retirement plan for your business, or if you’re not sure the plan you’ve chosen is the right one, here are some things to consider. How…

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Good Health is Good Business

By Mark Hegstrom, Waterfront Financial Group / October 1, 2015

Approximately 27% of payroll for U.S. employers is attributable to health and productivity costs.¹ Business owners and managers understand very well the rising cost of health care and the loss of productivity associated with absenteeism and employee disengagement. Which is why 89% of employers surveyed by Optum, a health management consulting firm, believe that offering…

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Minnesota’s New LLC Act

By Roben Hunter, Hunter Advisors, PLLC / October 1, 2015

Minnesota’s new statute governing limited liability companies (“LLC”) became effective August 1, 2015.  All LLCs that are organized after that date will fall under the new Chapter 322C of the Minnesota Statutes (“New Act”).  What does that mean?  How does it affect the LLCs already in existence? The old LLC statute, Chapter 322B, was formulated…

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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. …

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Create a Safe Driver Culture in your Business or Home

By Gary Sorenson, Insurance Brokers of Minnesota / May 3, 2015

Being a business owner involves a lot of responsibility. When you have commercial autos, you become responsible for the safety of your drivers and other road users. That can be a lot to take on, so the best way to deal with it is to share the responsibility. To create a culture where everybody shares…

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