Do you have a Gold Medal Business?
At what point during the Olympics did you turn to your spouse or kids and say, “I’d love to do that event.” or maybe even, “I could compete in that sport.”
I know I was thinking about it the entire time.
Even though we’ve chosen a different path than competing in the Olympics you can still relate to the point of the games.
It’s about winning and you have probably had moments of winning in your business, financial winnings that is. Now how do you steer clear of the burdens that come from winning.
For example, the Olympians have to pay tax on all their winnings.
How much does an Olympian receive for winning?
$25,000 for gold
$15,000 for silver
$10,000 for bronze
Plus the winners will still pay tax on the actual value of the medal they were awarded.
You want to avoid getting screwed because your goal is going to always be to make more money or be progressing to the next thing.
Tony Robbins said it best, “People don’t feel fulfilled staying where they are. The reason is, life is growth. Progress = Happiness.”
Well, in your specific situation, it’s about having a gold medal business right? You want to be on top of the podium knowing that you’re the best and all that hard work has paid off. You want to be better than your competitors, and live a fulfilled life.
To have a gold medal business, it requires something that an actual gold medalist recently said.
Advice from an Olympian
Oscar De La Hoya one of the greatest boxers says in order to be as successful as he was, he had to surround himself with experts. He is specifically meaning his financial success. You have to form your team, a very smart team.
People that had nothing to do with boxing. People that knew numbers and financial strategies.
A lot of money is going to be thrown at you and you have to be careful about where you throw your money.
Accumulate that wealth!
Look, you can probably see how this relates to you and your business.
One of the greatest boxers with all the talent and skill, didn’t presume to go at his financial journey alone, he built a team, a highly successful team who could guide him through his financial wins and losses.
Sometimes running a business is a lonely path. Some people just don’t understand the stresses and frustrations you face. However, when you’ve built your financial team, you always have someone to share your thoughts with who will get it.
Now, I’m not saying building a team will completely eliminate all your stresses, however you can expect those to be mitigated.
Client Story
“I have had the opportunity in my businesses to work with Dustin and John. When we purchased Oxford Dental Care it was a no-brainer to have Dustin do our taxes. He is very responsive whenever we have any questions and always makes sure that we pay the least amount possible on our taxes even if it requires extra time from him.
I recently had a friend approach me for a good accountant and I referred him to Dustin. He came back a few weeks later letting me know how grateful he was that I referred him to Dustin because he had saved over $20,000 on his taxes. It is hard to explain how comforting it is to know that you have someone like that working for you. As a business owner you wear 20 different hats. Thanks to Incite Tax I have one less hat to worry about!” Adam Smith
When you build the right team for your business, you can expect awesome results.
P.S.
Have you had a recent financial win and are wanting to make sure Uncle Sam doesn’t screw you over? Download our best report to make sure you’re not making any tax mistakes with those winnings.
