Skip to main content

Things That Will Make You Money - Number 15 - Commitment

Really successful people do things that other people will not do.  You may recall this wise exchange in the movie the Karate Kid:

Either you karate do "yes" or karate do "no." You karate do "guess so,"
just like grape. Understand?

Most people are motivated just by a chance to make some money but they do not really think things through and get a realistic expectation or are really committed to their business.  If it makes money great otherwise they give up quickly. Believe me, other people can tell when someone is really committed to a business or what they are trying to sell.  Once someone perceives you are not really committed to what you are doing it will be next to impossible to convince them to do business with you now or in the future as your opportunities "get squished just like a grape."

Really successful people commit to a business only when they are "all in" and it shows. So you have to be convinced this is "what you are going to do." Notice the difference between "what you want to do" or "you are going to try to do" and "what you are going to do."  The difference is commitment.  The commitment takes place in your mind and in the language you use to just think about the business, "going" versus "want" and "try".  Really successful people think differently and use language that is powerful and purposeful, and they are "all in".

In another post I wrote about taking action even if everything is not perfectly ready.  It that case you still need to be committed and prepared. You take action although it is not perfect and then you develop and perfect as you go. It works because although it is not perfect to begin with you are still committed.

The CPA Superhero wants to help you to succeed in business, life, and in retirement.  While my main business is preparing tax returns, I also work with clients to setup accounting systems to start, manage and develop their business(es) and develop and implement a financial plan. Contact me using my information below to schedule a free introductory consultation up to a half hour. 

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, they are not all inclusive, and as always for your tax situation everything "depends on facts and circumstances."  In addition, the information/IRS requirements are always subject to change.  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…