For those of you in business – I came across “Twenty Easy Steps to Failure”. If you see yourself doing too many of these you might want to rethink your approach to business.

Have a fear of success

Do not dress for success

Have a “negative” attitude

Do not have a professional image

Do not write a business plan

Work only three to four hours a day when you are starting

Do not organize your office

Do not listen to anyone – you know everything about everything

Do not advertise – it is to expensive

Do not keep accurate financial records

Do not continue to learn about your business

Do not worry about zoning regulations, taxes, or licenses

Let your children answer all of your business calls without training

Mix your personal and business money

Do not set aside any money for operating capital

Always put off until tomorrow what could be done today

Do not keep promises you make to customers

Do not set goals for yourself or your business

Do not join any clubs, organizations, or associations related to your type of business

Do not save for tomorrow – spend it all today!!

In future tax tips we will discuss some strategies to overcome some of these negative points.

 
This information is provided in an effort to help you gather and organize the information necessary to file your individual or small business income tax return. While these financial tools are not a substitute for financial advice from a qualified professional, they can be used as a starting point in your decision making process.