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...

Read More

Race Car Drivers AND Business Owners Win on the Corners – Not on the Straight

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

Car racing comes down to cornering.  Everything else being equal, the driver that can maintain the highest speeds through the corners will have the fastest lap times.  The whole objective when taking a corner is to have the fastest possible speed when exiting the corner. It’s not about having the fastest speed as you come…

Read This Article

New Mental Health, Substance Abuse Parity Rules Finalized

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

The Obama administration finalized new regulations to expand coverage requirements for employers providing mental health and substance abuse treatment under their group health care plans. The long-awaited final rules are based on the 2008 Mental Health Parity and Addiction Equity Act. They will prohibit large employers — defined as firms with more than 50 full-time…

Read This Article

Trademarks: Geographical Limitations on Trademark Rights

By Michael Sherrill, Sherrill Law Offices / January 1, 2014

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…

Read This Article

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…

Read This Article

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

By Sheri Stolp, The Stolp Group / August 1, 2013

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. …

Read This Article

Minnesota Residents-Intention Does Not Always Win

By Roben Hunter, Hunter Advisors, PLLC / August 1, 2013

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…

Read This Article

Are All Homeowners’ Contents Coverage the Same? No Way!

By Gary Sorenson, Insurance Brokers of Minnesota / June 1, 2013

Here are 21 Reasons to Purchase Deluxe Contents Coverage The following are covered by deluxe and not standard (put in simple terms): 1) MYSTERIOUS DISAPPEARANCE – Jewelry, furs, silver, gold and guns that are lost or misplaced (up to special limits). 2) EARTHQUAKE – Deluxe contents affords earthquake coverage automatically for contents. 3) BROADER WATER…

Read This Article

How to Get Your Customers to do Your Selling for You

By Kelli Hoskins, Master Business Coach / June 1, 2013

We all hope that if we acquire a new customer and deliver our product or services to their expectations, we have a customer for life and through ‘word of mouth’ they’ll introduce us to many more.  While this happens some of the time, it’s a very passive and re-active way to grow your customer base…

Read This Article

Are your Key Documents Up to Date?

By Kevin Lanigan, Carlson Estate Planning / April 29, 2013

Estate attorneys were relieved when Congress finally agreed to a long-term resolution of the amount of the federal estate tax exemption. Finally, after a decade of not knowing what would happen to federal estate taxes, lawmakers settled the matter when the American Taxpayer Relief Act of 2012 became law.  As a reminder, the estate-tax exclusion,…

Read This Article

How to Prevent Air Bag Injuries

By Gary Sorenson, Insurance Brokers of Minnesota / April 1, 2013

Air bags save thousands of lives each year, according to The National Highway Traffic Safety Administration (NHTSA). In frontal crashes, air bags reduce deaths among drivers by about 30 percent and among passengers by 27 percent. Air bags, however, can be dangerous. If small children sit unbelted in the front seat, they can be catapulted…

Read This Article

Think Your Business is Different? Here’s Why It’s Costing You Money

By Kelli Hoskins, Master Business Coach / April 1, 2013

If I received a dollar every time I heard that statement well, I’d have a lot of dollars.  There is a simple formula that determines where your current profits come from and how to systematically increase your profits.  And this formula applies to every business, everywhere, every time.  If this is the case, why do…

Read This Article

The Small Business: How Do You Know When You Need HR?

By Sheri Stolp, The Stolp Group / February 1, 2013

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…

Read This Article

Create a Safe Driver Culture in Your Business or Home

By Gary Sorenson, Insurance Brokers of Minnesota / February 1, 2013

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…

Read This Article

Success through Failure

By Kelli Hoskins, Master Business Coach / February 1, 2013

In business, massive failure should be avoided at all costs except if you want to achieve massive success.  The level of success you have experienced in your business and in your life is directly proportional to the level of failure you are willing to experience.  Most of us only achieve a limited amount of success…

Read This Article

Why Have Experience Rating on Worker’s Compensation?

By Gary Sorenson, Insurance Brokers of Minnesota / December 1, 2012

If workers compensation rates are designed to predict future losses, why use experience rating?  How does experience rating benefit employers?  Implicit in most risk-specific programs of experience rating is the prospect of both debits and credits. Since experience rating gives individual employers some influence over the final premium they pay, it provides an  incentive for…

Read This Article

The Key to Business Success and Financial Independence is…Leverage!

By Kelli Hoskins, Master Business Coach / December 1, 2012

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…

Read This Article

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…

Read This Article

With All the Congress Uncertainty, Can We Provide Planning for Year-End 2012? Yes-And This Year It is Necessary

By Roben Hunter, Hunter Advisors, PLLC / December 1, 2012

In the 22 years of service I have provided as an advisor, I have not seen any year more complex that this one.  My suggestion is to get to your advisors, sooner rather than later, for 2012/2013 planning.  For example, unless something is done in Congress, the federal individual income tax rates themselves will increase…

Read This Article

Understanding the Overall “Climate” in Your Office

By Sheri Stolp, The Stolp Group / September 1, 2012

Most business owners have a good understanding of things like cash flow, business prospects, sales and other tangible measurements. To truly have a finger on the pulse of the business, however, you’ve got to understand what’s going on in terms of employee morale. As a business grows, that can be harder and harder to gauge.…

Read This Article

Need to Set Goals for Your Business, Here’s How

By Kelli Hoskins, Master Business Coach / September 1, 2012

As a small business owner, do you find that you are easily achieving the results you planned in your business? Do you find that you have intentions and goals that you are not able to accomplish? Are you inconsistent in your ability to achieve your business goals? If you are like many small business owners,…

Read This Article

Mentor Articles by Category