Thursday, July 31, 2014

In Business Too - Bears Make Money, Bulls Make Money, But Pigs Get Slaughtered



In Business Too - Bears Make Money, Bulls Make Money, But Pigs Get Slaughtered


Investors know that "Bears Make Money, Bulls Make Money, But Pigs Get Slaughtered".  In business too this expression applies.  Experienced business owners know they have to have their business ready to weather the storm of a down economy.  At the same time they need to take advantage of opportunities that present themselves when the economy is growing.  This requires a real skill to manage the swings especially in regard to labor so that the business does not get too fat during upswings and too thin during down turns.  The same thing applies to inventory and operating expenses.

But also "Pigs Get Slaughtered" in business too.  "PIGS" are after as much as they can get at any moment and can only see immediate gratification.  "PIGS" don't see the long-term value of relationships and reputation.  At times  "PIGS" do get fat but it is when "PIGS" get fat that it is time for them to get slaughtered.  When people catch on to a "PIG" as someone that is deceptive and word spreads quickly then the "PIG" looses his business and his reputation.

To avoid getting slaughtered and to achieved sustained success over a long period of time businesses and business owners have to really serve others.  Rewards come with serving and integrity.  Dishonesty and fraud lead to getting slaughtered and or jail time.  With taxes you want to pay the least amount possible but you need to be in compliance with the requirements or eventually it will catch up to you and if you are lucky you will just get slaughtered financially.  In many cases the government will pursue the fat "PIGS" for everything they have and give them jail time.

The thing with "PIGS" is they want to have it all at the expense of others.  They will break the law to avoid paying their rightful share of taxes that contribute to community needs.  "PIGS" view the world as having a scarcity of resources and if they don't get and keep everything they will die. So "PIGS" will cheat you and society in general.  

On the other hand, genuine people that care about others can see the abundance that really exists and they want the best for others. Genuine people have an abundance and help others have an abundance and they do not have to worry about getting slaughtered or jail time for violating the law.

So see the abundance of possibilities for you and your business than you can attain by genuinely serving others.  Yes, Bears Make Money, Bulls Make Money, But Pigs Get Slaughtered.

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
972-439-1955
jeff.jhtaxes@gmail.com

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.

Wednesday, July 30, 2014

Protect Your Business Against Theft/Embezzlement in the 21st Century


Protect Your Business Against Theft/Embezzlement in the 21st Century

Thieves come in the middle of the night to avoid being seen. Likewise white collar thieves target business that are not watching. Theft and embezzlement is a growing problem. So watch your business and make sure employees know you are watching.

The face of theft has changed.  Inside a business the fear was someone would forge checks or steal money that should have been deposited.  Today many bills are paid electronically.  So how do you protect yourself against your bookkeeper sending unauthorized payments to herself or to a friend or family member.

Safeguards:

  1. Do background checks when hiring a bookkeeper or make sure the company you contract with does and is insured.
  2. Provide the bookkeeper a list of approved bills to be paid
  3. Compare payments often to your approved payments list and check both the amount and the payee. This can be done often with online access to your account.
  4. Make sure you get the bank statement sent to you and again carefully check amounts and payees.
  5. Keep your operating account lean.  The account your bookkeeper is authorized to make payments out of should have just enough to cover payments for a short period of time.  Keep all excess cash in an account only you can access.
  6. Regularly review your financial statements comparing them to the prior period, the prior year, and the budget.  The budget is especially important if your business activity is not consistent from period to period.
  7. Regularly and carefully review your Accounts Payable and Accounts Receivable and watch for unusual amounts and names.
These are some suggestions for protecting yourself against unauthorized payments.  You will also need controls in place for deposits and other checks written which are topics for another post. Lastly, review your procedures often and change them as the process for paying bills change.

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
972-439-1955
jeff.jhtaxes@gmail.com

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.

Tuesday, July 29, 2014

Things That Will Make You Money - Number 12 - Recognize the Hidden Value


Recognize the Hidden Value

Really successful people do things that other people will not do.  Many of these things are very valuable but most people think they are a waste of time because they don't result in revenue right now. So what are these valuable things?

Consider a conversation with someone who you know will not buy your product or service...at this time.  They want something. Do you care what it is? Why should you care? What will happen if you take an interest and help them get what they need or want?  Most people get really frustrated when they can't get what they want. If you don't have what they want and you help them find it anyway they will appreciate your efforts.  It is really simple. When you help someone even if it does not result in revenue for you or your business you have created value for that person. Many times that person will recall what you did and either they will come to back to you or they will refer someone else to you.

As you provide value you develop a name for yourself and that will result in value coming back to you. The trick is to recognize the value in serving others. Have a mindset that looks for or recognizes value and the opportunities that most others don't look for. It is a mindset of generosity that needs to be developed. When you recognize the value with that mindset then you will find yourself making friends, as Dale Carnegie taught, and that will eventually pay off for you.

So develop a mindset that recognizes value in helping or serving others.

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
972-439-1955
jeff.jhtaxes@gmail.com

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.

Thursday, July 24, 2014

Things That Will Make You Money - Number 11 - Create Value



Really successful people do things that other people will not do.  Really successful people or businesses create value and give it to others.

You have heard "build a better mousetrap, and the world will beat a path to your door."  Really. Where do they really beat down a path to their door. McDonald's, Domino's Pizza, Apple are all examples. Did they really create a better product?  McDonald's and Domino's Pizza are very popular and yet they did not produce a better product and still people figuratively beat down a path to their door.

What they did do was create value. McDonald's provides a tasty product at very convenient locations and you know what you will get at their restaurants. The same with Domino's, you know you will get not a better but a decent pizza but you will get it delivered quickly. These companies created value for their products because of location and easy of getting the product. You typically don't even go to Domino's door.

How does this translate to your business? How can you create value? Consider what you do that no one else does in your market. Or consider what you could do that no one else does well that people will value.

Quite often to create value you need to find out what people value. To find that out you have to listen to and observe people and their behavior. A top investor regularly goes shopping with his kids to see what people are interested in and he invests in those companies. Have you noticed the shopping malls are no longer packed? Have noticed what people are doing? What are those gadgets they keep fidgeting with and how can you provide value for people today?  Find a way to make your product or service available through those devices people are using all the time now. Or create value for people in some way that people will appreciate.

You may even find that you can change the way people do things providing a better way for them to get your product. McDonald's did this as highways and main streets with stoplights sprung up and they acted on these developments and provided value given the changes that were being made. Domino's Pizza took advantage of people being too busy and made it more convenient to buy a pizza. Instead of going out for pizza and a show people are staying home to watch the show so why not have the pizza delivered at home.

Observe and listen and find a way to provide value today and in to the future and instead of beating down a path to your door they will ask you to deliver your product via a portal or have a drone deliver it.  What is next?

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
972-439-1955
jeff.jhtaxes@gmail.com

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.

Tuesday, July 22, 2014

Imitate the Best: Invest in the Long-Term Success of Your Business


Imitate the Best: Invest in the Long-Term Success of Your Business

Sustained business success is really about balance.  Getting sales and filling orders or serving clients is important today but what about tomorrow.  Tomorrow won't take care of itself.  The challenge is to take advantage of opportunities presented this day but also take action that will create opportunities in the future.

Quite often businesses will advertise and promote and that will result in a wave of business which in and of itself must be served or managed.  At times taking care of existing business can become all consuming and then when the wave is finished then suddenly business and cash flow dries up. Then it is back to advertising and promoting and the cycle starts over like dips and hills on a roller coaster ride.

The roller coaster ride can be exhausting as periods of exhilaration are followed by periods of panic. The same thing can happen in terms of a product life-cycle.  Focus on milking current opportunities can crowd out product development and creation of new products.  The longer term roller coaster ride can be devastating as you can find yourself with a slide-rule for which there is no longer any demand.

For long term success businesses need to invest in the future today.  So back to the point, this requires balance. A business needs to balance its investment in time and resources between the business at hand and developing future opportunities. Try to always make time to create future success. The fun part is you get to be creative and imaginative as you work on the future. To make this happen you have to appreciate the value of your investment for the future. This requires a vision for the future. As you create that vision naturally you will think about how to make it a reality. How can you improve your product or make it more desirable? How can you improve your interactions with people so they will have an increased desire to do business with you? How can you reach new people and new markets? What are people going to want tomorrow?

What would Bill Gates and Steve Jobs do? They developed the most popular products in their market while at the same time they were working on the next version and the next product. You can imitate their success by investing time in creating opportunities for the future.

Have fun with it.

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
972-439-1955
jeff.jhtaxes@gmail.com

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.

Thursday, July 17, 2014

10 Things To Know About Taxes Before Moving Out of the United States


10 Things To Know About Taxes Before Moving Out of the United States

  1. You may still have to file a tax return if you live outside the United States
  2. The rules for determining if you need to file a tax return are the same as if you still lived in the United States.
  3. You must report all of your worldwide income on your tax return.
  4. You may be able to exclude some of your "foreign earned income" on your tax return. The income is still entered on the tax return and then it is backed out on another line.
  5. Even if you can exclude all your "foreign earned income" on your tax return if you have self-employed income you may still have to pay the Self Employment Tax on that income.
  6. If you have over $10,000 in foreign bank or financial accounts at anytime during the year you may have to report them to the IRS.
  7. You may still have to file state income tax returns even if you no longer live in the U.S. depending on the state and your facts and circumstances.
  8. You may be able to take a dollar for dollar credit for foreign taxes paid.
  9. You cannot take both the Foreign Earned Income Exclusion and the Foreign Tax Credit or the deduction for taxes on schedule A.  No double dipping here.
  10. You may still be subject to the Obamacare penalty if you do not have health insurance. 
The CPA Superhero moved to another country and has firsthand experience with the issues associated with such a move and he prepares taxes for US citizens living all over the world.


Success often results from doing what others won't do and many times what you really don't want to do.  You can become more successful and more knowable about your business and gain freedom from frustration, saving time and money. Please feel free to contact me using my information below to discuss how we can work together to help you with your accounting, your income taxes and your business.


I am Jeff Haywood, your CPA Superhero


Jeff Haywood, CPA 
972-439-1955
jeff.jhtaxes@gmail.com

Follow the CPA Superhero on Twitter:


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.

Monday, July 14, 2014

Things That Will Make You Money (Big Time) - Number 10: Respond to Messages Quickly

Respond to Messages Quickly



Really successful people do things that other people will not do. Really successful people provide great customer service and this includes getting back to people quickly.

People are always complaining about bad service and it drives people crazy when they send someone an important business related message and they don't hear back from that person. Providing high level service includes returning calls or emails quickly. My standard operating procedure is to return messages within one business day. I do this even if it is just to tell them I got their message and I will get back to them either soon or my plan is to get back to them by a certain time (The later option is more valuable than the first).

Why will responding to messages quickly make money for you? It tells people you value them and they in turn will value you and refer you to others. I can not tell how many new clients told me their prior CPA did not return their calls or emails. Sometimes they waited for weeks. So stand above the competition by returning messages quickly.

You will also benefit from returning messages quickly in terms of efficiency. You may reason that you are too busy to return a message at the time you see it. However, in reality we are always busy and it will actually save you time and frustration by returning messages quickly. You see, if you don't return a message quickly you are going to get another message and then another. You will save yourself time by responding to messages when you see them in addition to letting the person know they are of value to you. Then they will let you know that they want to do business with you.


Do the things that most other people won't do to be successful. Believe me, you will thank me later for this tip.

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
972-439-1955
jeff.jhtaxes@gmail.com

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.

Thursday, July 10, 2014

Things That Will Make You Money - Number 9 - Silence Limiting or Defeating Thoughts

No "Headtrash" Allowed

Really successful people do things that other people will not do.  That includes what they think about. What goes on in our mind has as much to do with success or failure as the product or service we offer. What we have in our mind about ourselves affects who we are, our posture, our confidence and even what we do and how we do it.  Much of the programming of this world is designed to implant reasons for failure.  Someone wrote a book called "Headtrash" and I love the title because it conveys the reality of the situation. We need to keep "headtrash", limiting beliefs, out of our minds and consider healthy thoughts. It takes a focused effort to accomplish this.

When you talk about your business or your idea consider what you hear back.  Consider what the entertainment you watch or listen to tells you.  Does it encourage you and let you know you are good enough or does it work against you and make you doubt yourself and or your idea.  You may find you need to help people with their perspective or regulate who you talk to about business. Some are so hardwired to think that they and no one they know can succeed outside of a certain realm.  So we need to recognize when conversation is a detriment and when it helps and make sure we are getting a healthy message.

Healthy Versus "Headtrash"

There is a big difference between healthy constructive criticism that is designed to help us and just plain criticism that is designed to limit our thinking about our potential. It is very important to develop the ability to tell the difference. "You might want to think about this option" or "consider will you get a proper return on your investment" is very different from "that won't work" or "you can't do that". Some people have been programmed with "headtrash" while others get what you want to do. Help and support are very healthy and sound and look very different from "headtrash".  Is that thought or idea helping or hindering you?

Recently I started to listen to music that I listened to years ago and I found so many limiting beliefs in the lyrics.  So much propaganda that there are conspiracies against us keeping us from succeeding.  It is a catchy tune but the "poor us" and "those that succeed must be bad" ideas are not helping.

So be aware of the thoughts that are being presented to you and what you allow yourself to think about and try to identify healthy and unhealthy thinking.  You may want to study other articles and books that go more in depth on the subject.  What a business person is after is a mentality that he can succeed and helpful and healthy thoughts and ideas.  Get rid of the "headtrash" and create an environment where it is not tolerated.

Success and Failure

Just because you have healthy thinking does not mean everything you do will work.  In this world it just doesn't work that way but there are always helpful ways of looking at things and unhealthy ways of looking at things.  When something doesn't work you want to avoid unhealthy ideas which discourage you so you won't try anything ever again.  You can learn to recognize a healthy way of viewing things that don't work at a particular time.

Think about this. In my favorite sport, baseball, succeeding 2.5 times out of 10 might get you "a cup of coffee in the big show".  That means failing 7.5 times out of 10 is good.  If you succeed 3 out of 10 times you are a star and more than that and you are a superstar.  So failing 6.5 times out of ten and you are super.  Just keep that in your mind.

The guy in this picture is Miguel Cabrera and in 2012 we failed 6.7 times out of every 10 attempts at hitting and he was the best player in baseball that year.  Not only that be he was so successful he won the triple crown which was the first time anyone had accomplished that feat since 1967.  So when you fail sometimes just remember succeeding 3.3 times out of ten is greatness.

Do what most other people won't do to succeed by silencing thoughts that are limiting or defeating.

The CPA Superhero wants you to succeed.  If you want the CPA Superhero to help you feel free to contact me using my information below. 


Jeff Haywood, CPA
The CPA Superhero
972-439-1955
jeff.jhtaxes@gmail.com

Follow the CPA Superhero on Twitter too at:
twitter.com/jeffhaywoodCPA


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.

Monday, July 7, 2014

10 Things to Consider Before Purchasing a Business



Buying a business can be a more attractive proposition than investing in a business someone else runs.  When you buy a business you have control over the operations and you are not gambling on people you don't know.  Buying a business is a risk that can offer significant rewards.  The key is to do your homework/due diligence before buying and understand what you are getting.  Here is a list of 10 things to consider before purchasing a business.
  1. Profitability: Look at the companies financial statements and income tax returns for as many years as possible and is relevant to establishing its value.  Keep in mind if they have been planning to sell the business the numbers they give you will likely be the best case scenario. Also, look at their projected profits and the basis for the projections.
  2. Trend: Trends are likely to continue.  So if the profits have been falling then they will likely continue to fall.  In addition to profits, what has been the trend for their revenues and expenses.  Most businesses are now seeing increases in costs and those increases are likely to continue.
  3. Competition: Who are their competitors and how does this business do relative to their competition.  What condition are their competitors in and what are they likely to do going forward.  Will they be cutting prices or aggressively going after market share?
  4. Payback Period:  How long will it take to recoup your investment and/or payoff the debt incurred to purchase the business.  In the very uncertain world we live in and its disruptive nature I would be very hesitant to buy a business that I could not recoup my cost in just a few years.  Three years from now all bets are off.  Five years and wow don't even count on a world that we would recognize today.
  5. Opportunities: Would owning this business create other profit opportunities for your other businesses? Are there opportunities in this market that you are aware of that the business is not taking advantage of.  The seller would not know about these opportunities which may make the business more attractive to you but don't pay for it.
  6. Legal Standing:  Is the business legally registered not only in the state it was organized but in all the states and countries it does business.  Also, is the business current with its tax and filing requirements.
  7. Taxes and What are you Buying:  From a tax standpoint it is often best to buy the assets, the customer list and a no compete clause rather than buy the business itself.  You may want to include the Receivables and Payables in the deal too.  From a tax standpoint it may be best to buy the assets rather than the company because you would be able to depreciate your cost of the assets rather than purchase the business with assets that have been depreciated already.  This will make a big difference when evaluating the value of the business to you.  It may be beneficial because of differences in depreciation to specify in the contract what you are paying for specific assets.
  8. Lock, Stock and Barrel:  Also, make sure you are getting all the assets you need.  Often a business will hold different assets in different entities.  Make sure you are getting all the assets that are needed like intellectual property, land and buildings.
  9. Operating Experience:  Do you have the expertise and experience to run this business.  Will key existing managers and personnel continue to work for you?  What assurances do you have the key people will stay with the business?  Will the seller stay on as a consultant for a period of time to provide some training for you to become competent?
  10. Obligations/Cost Structure:  What are the agreed upon benefits for the employees.  What debts if any will you be taking on and what are the payment terms.

As an added bonus consider number 11 to have an exit strategy.  Click here to check my post on this subject.

This is not a comprehensive list but as a CPA these are some general areas I recommend you consider before purchasing a business.  As always, what you need to consider will actually depend on the facts and circumstances.  In addition, don't try to do this by yourself.  Consult with an Attorney, a CPA and knowledgeable operating personnel.

The CPA Superhero wants you to succeed. If you would like the CPA Superhero to help you then feel free to contact me using my information below. 


Jeff Haywood, CPA
The CPA Superhero
972-439-1955
jeff.jhtaxes@gmail.com

Follow the CPA Superhero on Twitter too at:
twitter.com/jeffhaywoodCPA


These 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 world and IRS requirements are always subject to change.  So call me to talk about your specific facts and circumstances and what you want to accomplish.

Thursday, July 3, 2014

Things Will Make You Money - Number 8: Be Yourself

Really successful people do things that other people will not do.  Really successful people don't write books or teach courses or seminars instead they make money. How do they do this, one way is by genuinely being themselves and sharing their story. 

So you have read those books on how to sell and they just don't seem to work.  Here is what happens: Someone has success and people get the idea what the successful person does is THE SECRET to success and they write a book about it.  For some people that technique works but for many it does not.  Why not?  It does not work for people who are acting in a way that is contrary to who they are.  Observers can tell when someone is trying to be something they are not and it makes them uncomfortable.

Most of the time people buy you not what you are selling.  Or people go into business with people they like.  The Oklahoma City Thunder draft people not players.  You get the idea.  But all the sales books say you have to be a certain way, say certain things, and do certain things.  If you just relax and be yourself things will work out a lot better and you will feel better about yourself. Others may have success being a certain way but that is them.  There is more than one way to get to the market, so find your way.  

You may find value in certain ideas about sales but don't change who you are when you try applying them.  Business owners should encourage their employees to be themselves and take advantage of who they are and not try to make them different people.  

Try this, stop trying to be something you are not and let people know the real you.  Reintroduce yourself to yourself and start telling others your story.  To go along with that ask others who they are.  Not literally but in conversations try to get to know others first and then if they need you or your product they may do business with you. But if not, you can serve them by helping them with their needs.  By doing this you will create friendships and find that even if people don't do business with you, for whatever reason, they will like who you genuinely are and send others to you that need you or your service.  

So do what others won't do to succeed.  Have confidence that people will like the real you and find you interesting and want to do business with the real you.  So have fun and be yourself.

The CPA Superhero want you to succeed. If you want regular discussions with the CPA Superhero feel free to contact me using my information below. 


Jeff Haywood, CPA
The CPA Superhero
972-439-1955
jeff.jhtaxes@gmail.com

Follow the CPA Superhero on Twitter too at:
twitter.com/jeffhaywoodCPA


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.

Wednesday, July 2, 2014

Things That Will Make You Money - Number 6 - Take Action



Really successful people do things that other people will not do.  One of those things is taking action...now. In your mind there can always be a reason not to get started.  I saw this with a business my wife started.  There was always something else that she thought she needed before she started showing her product. Psychologically there was always something to keep her from starting. Really, you need to ask yourself, is this a critical reason to wait or can you get started and work it out as you go? Granted there are critical things to make sure of to succeed but many other issues can be worked out later.  

So a key to success is just taking action.  Sometimes you just need to start.  My wife finally took action after some prodding and she succeeded despite the fact that everything was not as she wanted it be.  As she went along she made changes and things got even better.  However, it would not happen if she did not get started.

What happens when you take action and get started.  You start seeing income come in and your confidence rises.  Also, you can invest some of your profits back into your business to improve it and to generate more profits.

So do the things other people won't do to succeed. It is not too difficult.  It is just overcoming limiting beliefs in your own mind so you can act and succeed.

The CPA Superhero wants you to succeed.  If you want the CPA Superhero to help you feel free to contact me using my information below.


Jeff Haywood, CPA
The CPA Superhero
972-439-1955
jeff.jhtaxes@gmail.com

Follow the CPA Superhero on Twitter too at:
twitter.com/jeffhaywoodCPA


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.

Tuesday, July 1, 2014

Things That Will Make You Money - Number 7: Serve Others

Really successful people do things that other people will not do.  One of those things is serving others or making it about them.

The best phone solicitation ever went like this:  
Hey Jeff, how is it going?  
Me: Ah, OK. 
Just OK.  Seriously, I know a guy like you is more than OK.
Me: Who is this?

The point. If you lead with I want to sell you something then you are dead in the water.  You are leading from a horrible position.  Instead, get to a position of strength by finding something out about the person.  Be someone that others want to talk to.  Dale Carnegie taught that you want to start by talking about something the other person is interested in and a genuine compliment helps. So when starting a conversation ask yourself how can you provide some value to this person. Many times you will have nothing because you don't know the person.  So then find something out about the person.  Find out what they are interested in and what they need and talk about serving them. I guarantee if you do that first and continually then people will be open to conversations with you and they will ask you what do you do.  That's right, they will want to hear your story or your pitch. 

In the example above the person went to the trouble to find out my name and they used it.  They also started by asking about me.  Their approach was so unique I asked the caller a question. They were able to open the door to conversation.

Do the things others won't do to succeed. When you start a conversation your goal is to develop a long-term relationship. To get there you want the other person to ask you questions. That is an indication that you have gotten somewhere with them.  Don't be in a hurry to sell, take time to develop a relationship.  Your goal should be to serve and when you can do that then everything else will take care of itself.

You will thank me later.

If you want to have regular conversations with the CPA Superhero then feel free to contact me using my information below.


Jeff Haywood, CPA
The CPA Superhero
972-439-1955
jeff.jhtaxes@gmail.com

Follow the CPA Superhero on Twitter too at:
twitter.com/jeffhaywoodCPA


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.