The Business Mentoring Center
The Business Mentoring Center

Corporate Cranium Mentor Articles

Three Reasons Website Maintenance is Critical

By Suzie Meier - Red Technologies Inc. | July 25, 2019

If you are a valued client of Red Technologies, or just a fan of our blog (and who isn’t?!), you’ve heard us regularly recommend updating your website.  But what does this really mean?  And why, after spending so much effort creating a cool website, would you need to turn around and update it every month? Your website is often the first impression clients will receive, so it’s crucial to make it a good one. Here are three big reasons why maintaining your website monthly will earn you a big return...

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Reducing Your Insurance Costs…Distinguishing Bad Advice from Good Advice

By Gary Sorenson, Insurance Brokers of Minnesota / July 1, 2011

Many Americans are struggling financially in the current economy, particularly those struck by lay-offs, and are faced with tough decisions about how to reduce expenses. As a result, much has been written in recent months about how to reduce insurance premiums as one aspect of a belt-tightening strategy. Unfortunately, too much of this advice has…

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Trademarks: How to Establish Secondary Meaning for a Descriptive Term

By Michael Sherrill, Sherrill Law Offices / July 1, 2011

To establish trademark rights in a descriptive term the user must be able to prove that in addition to its normal meaning, consumers have come to also recognize the term as a designation of source (i.e., the term has acquired secondary meaning or distinctiveness).  Specifically, it must be shown that the consuming public primarily thinks…

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Managing Legal Fees in Business Transactions

By Bob Halagan, Halagan Law Firm, LTD. / May 1, 2011

Recently I was involved in a business deal where the principals met to negotiate the terms and then brought the lawyers to the table to “document” the deal.  Sounds like the cheapest way to handle a transaction, right?  Not quite. The lawyers saw issues the principals didn’t anticipate and a significant amount of time was…

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The Employment-Related Practices Liability

By Gary Sorenson, Insurance Brokers of Minnesota / May 1, 2011

Who could be sued for violating an employee’s rights?  Just about anyone who employs another person!  Discrimination, paying incorrect overtime amounts and sexual harassment are just three of many workplace situations that could lead to a lawsuit.  Some actions result from the employer being unaware of applicable laws while others arise out of cultural differences…

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Trademarks: When is a Designation a Trademark?

By Michael Sherrill, Sherrill Law Offices / May 1, 2011

Trademarks can take many forms, including words, designs, slogans, scents, names, sounds, colors, etc. However, not every such designation is entitled to the status of a trademark and the rights appurtenant to such status.  Such designations, to be entitled to the status of a trademark, must be used in connection with goods or services, must…

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Budget for Profit

By Kelli Hoskins, Master Business Coach / May 1, 2011

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 forecast.’”  Yet where is the reference to “Profit?”  Given the success of a business…

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Recent Changes in Foreign Bank Account Reporting

By Roben Hunter, Hunter Advisors, PLLC / March 1, 2011

Today’s world is one of international investments. On February 23, 2011, the U.S. Treasury Department’s Financial Crimes Enforcement Network amended the Federal Bank Secrecy Act and regulations governing the TD F 90-22.1, Report of Foreign Bank and Financial Accounts (“FBAR”).  The FBAR is required to report a U.S. person’s financial interest in financial accounts located…

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Employment Agreements-When Do You Need One?

By Bob Halagan, Halagan Law Firm, LTD. / March 1, 2011

The starting point for an employment relationship in Minnesota is “at-will,” meaning that an employer is free to terminate an employment relationship at any time for any reason (as long as it’s not an unlawful reason) and an employee is free to quit their job and go to work elsewhere, at any time and for…

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Long Term Care Insurance

By Gary Sorenson, Insurance Brokers of Minnesota / March 1, 2011

Rising life expectancy means that the potential need for “long term care” grows with every passing year of your life. The likelihood is that you or a member of your family will need long term assistance due to a prolonged illness, a disability, or general deterioration of your health and ability to perform routine daily…

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Chapter 3: Why Patent

By Michael Sherrill, Sherrill Law Offices / March 1, 2011

Most business owners are well aware that a United States utility patent is an expensive proposition, costing anywhere from $10,000 to $20,000 per invention with no promise or guarantee that a patent will issue on the invention.  However, in many fields, it is virtually impossible to start and maintain a competitive business without them. The…

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Profit per What?

By Kelli Hoskins, Master Business Coach / March 1, 2011

If the ultimate goal of any business is to make money, why is it that so many businesses are not profitable?  The No. 1 reason in my opinion is because the person running the business does not focus on profitability.  From what I have observed time and time again, they focus on everything but profitability. …

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Cost of Materials…There is No Such Thing

By Kelli Hoskins, Master Business Coach / January 1, 2011

Clearly, when we or our clients purchase goods, raw materials or services, there is a price to pay. Any business will buy commodities such as electricity, gas, paper. Whilst there is a value applied to all of these products that we call a cost of Materials or Commodity Costs, there is really no such thing.…

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Chapter 2: What is Patentable

By Michael Sherrill, Sherrill Law Offices / November 1, 2010

The United States allows inventors to patent “anything under the sun made by man that is useful, novel, and non-obvious.” Made by Man Patent protection can be secured only for subject matter that involves the hand of man.  Discovery of something that exists in nature – while perhaps an important and valuable discovery – cannot…

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How to Tell If You are Driven by FEAR or PASSION

By Kelli Hoskins, Master Business Coach / November 1, 2010

Many business owners feel busy… however are your busy days, weeks and months giving you the results you hoped for when you started your business? Whether you are driving your business or your business is driving you comes down to one question – are your decisions and actions driven by fear or are they driven…

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Getting Your Business Ready for Sale

By Bob Halagan, Halagan Law Firm, LTD. / September 1, 2010

As we crawl out of the wreckage of this last recession and look around, we can see the world will in fact survive.  While we have lost many businesses in our communities in the past two years, the survivors are likely to have significant opportunities as our economy recovers.  If you are one of the…

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Why You Have All the MONEY You Can HANDLE

By Kelli Hoskins, Master Business Coach / September 1, 2010

How much money do you have?  If you are like most business owners I speak with, probably not as much as you would like to have.  What if I told you that at any point in your life, all the money you have is all the money you can handle and the reason you don’t…

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Limited Partnership Gifting – A Twist

By Roben Hunter, Hunter Advisors, PLLC / July 1, 2010

There are some recent cases regarding gifts of partnership interests that did not qualify for the gift tax annual exclusion or a charitable gift deduction where it seems fairly clear they should have been allowed. In the first case, the parents transferred limited partnership interests to each of their adult children over a five year…

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Hiring the Right Way Can Avoid the Cost of a Bad Termination

By Bob Halagan, Halagan Law Firm, LTD. / July 1, 2010

One of the worst predicaments for an employer is to face a lawsuit from a former employee alleging a wrongful termination.  Once an employee has found a lawyer willing to take his case, an employer will need to be prepared for a new budget item:  legal fees and settlement costs which can easily exceed $50,000. …

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Trademarks: What They Are and Why Would I Need One

By Michael Sherrill, Sherrill Law Offices / July 1, 2010

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.  An example is the word Crest® for toothpaste.  Any toothpaste bearing the word…

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Here’s How You Can Measure Your Value in the Eyes of Your Customers

By Kelli Hoskins, Master Business Coach / July 1, 2010

Every business owner wants to attract more customers, make more sales, generate more profit yet few business are maximizing their potential.  The simplest way to make money in business is to add value in the eyes of your customer i.e. find out what problems your customers want solved, or what makes them feel good –…

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