The Business Mentoring Center
The Business Mentoring Center

Corporate Cranium Mentor Articles

Five Reasons to Establish a Revocable Trust

By Stacey Edwards Jones | April 25, 2019

Plan for Disability. Unlike a Will, a Revocable Trust allows you to plan for incapacity. This can be especially useful for small business owners. A trust is an effective way to ensure that the grantor’s assets will be used for his or her benefit in the event he or she becomes incapable of managing his or her own affairs. Enjoy Flexibility. A Revocable Trust is a flexible instrument that can be changed as the grantor’s estate planning needs change. The grantor can freely add or remove property during his or...

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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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Auto Insurance: Why This News is Important to You as a Consumer!

By Gary Sorenson, Insurance Brokers of Minnesota / October 1, 2015

The auto insurance marketplace has changed. Claims frequency and the average cost of settling auto claims are rising, leading to higher loss costs and future auto insurance rates for insurance companies’ existing customers. These are industry-wide and countrywide issues, impacting all drivers. They are also reflected in the rate increases being taken by some of our…

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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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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…

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Geographical Limitations On Trademark Rights

By Michael Sherrill, Sherrill Law Offices / May 3, 2015

A trademark is any word, design, scent, name, sound, or other thing that is capable of distinguishing one person’s or company’s goods from another’s, and indicating that such “branded” goods come from a single source – even if that source is unknown. A service mark is the same as a trademark; the only difference is…

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The True Measure Of Marketing Success

By Kelli Hoskins, Master Business Coach / May 3, 2015

It’s called testing and measuring. Most people hate it. That’s because it means ‘there is a chance, however remote, that every marketing strategy you try will not work the first time.’ In other words, it’s possible you’ll spend money without seeing any returns. But consider this – you’ve probably been testing and measuring all your…

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Protecting Your Business From the Loss of a Key Person

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

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know that life goes on regardless of the loss of any “indispensable” person, for a small business, the loss of a key person is not only a human tragedy, it can represent the potential for significant financial loss. Though business owners…

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The United States Moves to a First to File Patent System

By Michael Sherrill, Sherrill Law Offices / February 1, 2015

The Federal Government instituted sweeping changes to United States Patent Law with enactment of the “America Invents Act” a few years back.  One of the most significant changes is a change from a First to Invent system to a First to File system. The old First to Invent system awarded inventors who were first to…

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The Leadership Challenge: Part II

By Sheri Stolp, The Stolp Group / February 1, 2015

In our prior newsletter, I touched upon the overall business case for employing Effective Leaders.  I have been fortunate to work closely with dozens of organizations ranging from small family-owned businesses to Fortune 500 companies who have achieved great success in establishing truly extraordinary places to work.  These organizations not only generate top and bottom…

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Isn’t It Time to Take Control of Your Worker’s Comp?

By Gary Sorenson, Insurance Brokers of Minnesota / February 1, 2015

Workers’ Comp is the way employers finance employee injuries. For every dollar the insurance company spends, you are likely to pay back $2.00 to $3.00.  It’s our job to stop the borrowing at such high interest rates. Because Workers’ Comp is so complicated and confusing, employers are left to assume that their premium audit reports…

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A Bucket Plan to Go with Your Bucket List

By Mark Hegstrom, Waterfront Financial Group / November 1, 2014

The baby boomers have re-defined everything they’ve touched, from music to marriage to parenting and more lately what “old” means—60 is the new 50! Longer, healthier living, however, can put greater stress on the sustainability of retirement assets. There is no easy answer to this challenge, but let’s begin by discussing one idea—a bucket approach…

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The Leadership Challenge

By Sheri Stolp, The Stolp Group / November 1, 2014

Have you noticed a recent surge in articles, books and other publications discussing the topic of leadership?  Each author claims to have the insider scoop on what specifically constitutes a great leader in today’s business.  So which personal attributes truly identify solid leaders?  Is it the individual’s communication style?  Their overall drive or tenacity?  Their…

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What is a Defined Contribution/Premium Reimbursement Plan? Should I Consider for My Business?

By Gary Sorenson, Insurance Brokers of Minnesota / November 1, 2014

Combines a Premium Reimbursement Account, and a FSA/HSA plan all into one simple-to-use product. Employer has ability to offer a “defined contribution” or tax free contributions to an employee for (1) insurance premiums, or (2) out of pocket medical expenses, or (3) both, and provide a (4) pre-tax platform for employees to pay for their…

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Why Your Team is Inherently Dysfunctional and What to Do About It

By Kelli Hoskins, Master Business Coach / June 1, 2014

This is a little story about four people named Everybody, Somebody, Anybody, and Nobody.  There was an important job to be done and Everybody was sure that Somebody would do it.  Anybody could have done it, but Nobody did it. Somebody got angry about that because it was Everybody’s job.  Everybody thought that Anybody could…

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“Why” Long Term Care Insurance?

By Gary Sorenson, Insurance Brokers of Minnesota / June 1, 2014

Rising life expectancy means that the potential need for “long term care” grows with every passing year of your life. Current statistics indicate that six out of every ten people in the United States will need some form of long term care during their lifetime. Most long term care expenses are not covered by Social…

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The Small Business: How do you know when you need HR?

By Sheri Stolp, The Stolp Group / May 3, 2014

For the small business owner, conquering challenges like creating new business opportunities, improving the bottom line or finding a new office can seem like small potatoes compared to hiring and managing employees. And as the business grows, entrepreneurs can experience major challenges in terms of finding great people, performance issues and the thing we all…

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The Do’s and Don’ts of Conducting Effective Performance Appraisals

By Sheri Stolp, The Stolp Group / May 3, 2014

Do you dread conducting employee performance appraisals? Is it one of the last things you wish to do during your already pressing week? Are you concerned with conveying negative news to sub-par employees? If so, you’re not alone. Writing and conducting annual performance reviews is ranked as one of the least favorable activities of management.…

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How High Trust In Organizations Leads To Improved Performance

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

The author and leadership expert Warren Bennis has said, “Trust is essential to all organizations.” Yes, organizations that operate in an environment of high trust eliminate barriers to performance and stimulate employees to hone their skills and step up their game. You won’t be surprised to know that when your employees trust and have open…

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Minnesota Residents – Intention Does Not Always Win

By Roben Hunter, Hunter Advisors, PLLC / May 3, 2014

Minnesota has residents that consider themselves “snowbirds” – spending portions of their time (usually the long, cold, winter months) in a warmer climate and the summer months in Minnesota. Typically, by the time they are ready to retire, at least one of their advisors will tell them that for tax purposes, they would be better…

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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…

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