Most business owners wait until the beginning of the next year, after the current tax year ends, to send their tax information to their professional. I have seen so many get their information in with maybe weeks or even days before the filling deadline. And then the information is spotty or incomplete. How can you expect your accountant to find tax savings from the year before, when the year is over.
I am sure you agree that there are many obstacles an owner faces to find success and stay successful. In my experience as a wealth advisor and CPA working with owners in how to overcome challenges in small business, I find there are two primary obstacle groups: Practical obstacles and emotional obstacles.
Create a great product, have savvy marketing and watch your cash flow. These are some examples of the many common pieces of advice on how to be successful in business. But in my experience, not surrounding yourself with the best team of people in your business and in your personal life is the major reason for business failures and not achieving your financial goals. Bad “players” on your team will sentence you to working harder and longer in life and rob you of your dreams.
There is a specific formula for producing great financial results for every business. It is a proprietary process that I created more than 30 years ago. It is called the Wealth Building Formula® for your business. Follow this “recipe” and you will always make the 100% correct financial decision for your business.
What does this treadmill or a business controlling you look like? Meet a long-time client and friend of mine, Dr. David Zelman, founder of Transitions Institute, Dallas, Texas. David was an immensely successful coach to celebrities, c-suite executives and some of the most successful entrepreneurs in the country. Calendar full and in great demand, he was like our baker friend always “making the donuts”. He had no time to relax, always on the go. On top of that, while creating a nice life for his family and himself, there were other financial goals he had now and was anxious about the future. He was on a treadmill and worse, not having the time to make his business work for him: Think about ways to control it and make it give him the life he wanted now and in the future.
And so what is a good leader doing? My last episode was: How Do You Sling It? How do you just start taking action? Sometimes when you don’t know exactly what to do? So, at work‚ ok, so again‚ if you’re one of those business owners, or people like myself, about a week ago‚ you sort of were lost you‚ or waiting to see what’s going to happen next? What’s the next day going to bring? You are not sure what to tell clients yet or patrons.