Skip to main content

Avoid The Four Big Reasons People Fail

What keeps a person from really succeeding?  Let me start with a story.  Legend has it that Chicago Bulls coach Phil Jackson wanted John Paxson to shoot more.  What did Jackson do?  He told Paxson he wanted him to miss at least 3 shots a game.  Jackson wanted Paxson to fail more times per game.  Fear apparently kept Paxson from shooting enough.  Paxson responded to the direction to fail and the Bulls wound up winning 6 NBA Championships.

What about you in your business, where do you need to fail more to succeed?

Fear of failure keeps many from reaching the success that is possible for them. Here are four big reasons people fail and how to avoid them.

1. Giving up too soon.  Most people give up just before they would have succeeded.  Just be determined and when things aren't working adjust, don't give up.

2. Headtrash.  That noise in your head that says I'm not worthy of this success.  Learn to identify this noise and tell it to go away.  Also, don't watch or read things that promote this idea.  Headtrash is often promoted in movies, music, books, etc.  Especially online people complain about things like the government and in reality they are excusing failing and not trying.

3. Fear of Failure.  Not trying!!!  Fear of failure either is a great motivator or a great discourager (my new word).   The really successful go for it in crucial moments and they know they could fail but they go for any way.  Michael Jordan claims he missed 26 game winning shots.  But you probably only remember his 6 championships.  Check out the commercial that was created about his failures as his reason for success.

4. The view of a failure.  Avoid feeling sorry for yourself when something does not turn out like you wanted it to.  Instead view it as succeeding in learning something.  Edison failed over 10,000 times in an attempt to create the light bulb.  How did he view these failures.  He said: "I have not failed. I just found 10,000 ways that won't work".

So go ahead and fail so you can succeed.  Rise above the headtrash and reach your potential.  Aren't you glad Edison did.

If you want a CPA Superhero to help you succeed then feel free to contact me using my information below. You can have a free half hour initial consultation.

Jeff Haywood, CPA
The CPA Superhero

Follow the CPA Superhero on Twitter too at:

My posts contain general information that does not fit every situation and is not all inclusive and as always in your tax situation everything "depends on facts and circumstances."  So call me to talk about your specific facts and circumstances and what you want to accomplish.

Popular posts from this blog

The Dreaded IRS Audit...The Reality

Updated May 31, 2018

There is a fear of an IRS audit.  People have heard all kinds of stories and have many ideas about what will cause an audit and how to avoid it.  For example some fear that taking a deduction that they are entitled to will make them the target of an IRS audit.  I have also heard clients say both that filing on time will prevent an audit and also that filing an extension will avoid an audit.  So what is the reality of IRS audits.  

Who gets audited and why
The IRS audits aroud 1% of tax returns they receive.  That sounds like random selection but there are things that increase your chances of selection.  Ordinary taxpayers with ordinary income and deductions if audited are usually just a random and very unlikely selection.  In fact none of my cleints that can be described this way have ever been randomly selected for an audit.  Most audits are triggered by the unusual or areas of suspect by the IRS.  The IRS itself indicates there are randomly selected audits but m…

Who Is Watching Your Business? Someone Is. Hopefully It Is You.

Who Is Watching Your Business A few employees from the office went out together for dinner and a movie. It was interesting when the charges at a local restaurant and movie theater showed up on the next business credit card bill. It was reported to me as suspicious and I took it to the owner. Upon investigation it looked like the employees from the office had charged their night out on a company credit card. But how did they do that? Had the owner given them permission? No, he had not. It was discovered that one of the accountants had, without authorization, requested an additional credit card which she used for personal expenses.

Later, at tax time, a local tax-preparer called to ask about an employee's W-2. I could not give information about an employees salary but the preparer found two things interesting. One, some one from the firm I worked for would come to him to have their taxes done rather than have them done in house. Second, the salary and of course the taxes withheld s…

Year End Tax Moves to Reduce Business Profits

Here are some tax planning strategies to help you reduce profits for the year and thus reduce the taxes you will pay you. (Keep in mind if you want to accelerate profit into this year do the opposite of the strategies listed below)

Delay Revenue If your business is an accrual basis tax reporting business delay sending out invoices until next year. For a cash basis tax reporting business delay receipt of income. You may need to call people you have already invoiced to request that they make sure you don't receive their payment before the year end. In reality they can send you a payment before year end and you could receive it after year end so this could benefit both you and your clients/customers.

Accelerate Expenses On the Expense side for an accrual basis tax reporting business make sure you enter all the bills you receive before year-end and make sure they are dated this year. For a cash basis tax reporting business pay as many bills by year-end as possible. If cash is tight m…