Sunshine Coast and Brisbane Accountants - Clarke McEwan Accountants and Business Advisorrs
Sunshine Coast and Brisbane Accountants - Clarke McEwan Accountants and Business Advisorrs

Setting yourself up for Success

Clarke McEwan Accountants



As any successful person will honestly admit, failure happens, and we've all had our fair share of it. Yet from each failure, we can learn two equally valuable lessons. One that there was at least one reason we failed; and two is that we can rebound from that failure.

So, why do we fail? And how do we fix it?

According to Shiv Khera, author of You Can Win , failures most often occur for one of seven reasons. And Harvey Mackay, best-selling author and business speaker, says each one can teach us something valuable, can show us how to avoid falling back into the same hole.

Here are the most common failure-causing problems and their solutions:

1. Lack of Persistence

More people fail not because they lack knowledge or talent but because they just quit. It's important to remember two words: persistence and resistance. Persist in what must be done and resist what ought not to be done.

Try new approaches. Persistence is important, but repeating the same actions over and over again, hoping that this time you'll succeed , probably won't get you any closer to your objective. Look at your previous unsuccessful efforts and decide what to change. Keep making adjustments and midcourse corrections, using your experience as a guide.

2. Lack of Conviction

People who lack conviction take the middle of the road. But what happens in the middle of the road? You get run over. People without conviction go along to get along because they lack confidence and courage . They conform in order to get accepted, even when they know that what they are doing is wrong.

Decide what is important to you. If something is worth doing, it's worth doing right and doing well. Let your passion show even in mundane tasks. It's OK to collaborate and cooperate for success, but it's not OK to compromise your values-ever.

3. Rationalization

Winners might analyze, but they never rationalize. Losers rationalize and have a book full of excuses to tell you why they couldn't succeed.

Change your perspective. Don't think of every unsuccessful attempt as a failure. Few people succeed at everything the first time. Most of us attain our goals only through repeated effort. Do your best to learn everything you can about what happened and why.

4. Dismissal of Past Mistakes

Some people live and learn, and some only live. Failure is a teacher if we have the right attitude. Wise people learn from their mistakes-experience is the name they give to slipups.

Define the problem better. Analyse the situation-what you want to achieve, what your strategy is, why it didn't work. Are you really viewing the problem correctly? If you need money, you have more options than increasing revenue. You could also cut expenses. Think about what you're really trying to do.

5. Lack of Discipline

Anyone who has accomplished anything worthwhile has never done it without discipline. Discipline takes self-control, sacrifice and avoiding distractions and temptations. It means staying focused.

Don't be a perfectionist. You might have an idealized vision of what success will look and feel like. Although that can be motivational, it might not be realistic. Succeeding at one goal won't eliminate all your problems. Be clear on what will satisfy your objectives and don't obsess about superficial details.

6. Poor Self-Esteem

Poor self-esteem is a lack of self-respect and self-worth. People with low self-confidence are constantly trying to find themselves rather than creating the person they want to be.

Don't label yourself. You might have failed, but you're not a failure until you stop trying. Think of yourself as someone still striving toward a goal, and you'll be better able to maintain your patience and perseverance for the long haul.

7. Fatalistic Attitude

A fatalistic attitude prevents people from accepting responsibility for their position in life. They attribute success and failure to luck. They resign themselves to their fate, regardless of their efforts, that whatever has to happen will happen anyway.

Look in the mirror every day and say, I am in charge . You might not have control over every phase of your life, but you have more control than you realize , and you are responsible for your own happiness and success. Your attitude determines your altitude, and you can turn "down and out" into "up and at 'em."

Editor's note: The above is intended to be a helpful guide in the absence of other contributing factors such as mental illness, severe disability, cognitive dysfunction.

Why having a good bookkeeper is so very important
By Clarke McEwan 27 Mar, 2024
Why is good bookkeeping so vital for your financial management? We’ve got some top hacks for maximising your bookkeeping, and the options for outsourcing this job to the professionals. #SmallBiz #SMB #accounting #bookkeeping
Are you considering an SMSF? Here’s what you need to know.
By Clarke McEwan 25 Mar, 2024
Is a self-managed super fund something you’re thinking about? Learn about the responsibilities that come with being a trustee. #SMSF #RetirementPlanning
The Fringe Benefit Tax traps
By Clarke McEwan 10 Mar, 2024
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.
The ATO Debt Dilemma
By Clarke McEwan 10 Mar, 2024
Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed.
From 1 July 2024, the amount you can contribute to super will increase. We show you how to take adva
By Clarke McEwan 10 Mar, 2024
From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change.
By Clarke McEwan 10 Mar, 2024
Revised stage 3 tax cuts confirmed for 1 July The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024. Before the new tax rates come into effect, check any salary sacrifice agreements to ensure that they will continue to produce the result you are after. Resident individuals Tax rate 2023-24 2024-25 0% $0 – $18,200 $0 – $18,200 16% $18,201–$45,000 19% $18,201–$45,000 30% $45,001–$135,000 32.5% $45,001–$120,000 37% $120,001–$180,000 $135,001–$190,000 45% >$180,000 >$190,000 Non-resident individuals Tax rate 2023-24 2024-25 30% $0 – $135,000 32.5% $0–$120,000 37% $120,001–$180,000 $135,001–$190,000 45% >$180,000 >$190,000 Working holiday markers Tax rate 2023-24 2024-25 15% $0 – $45,000 $0 – $45,000 30% $45,001- $135,000 32.5% $45,001– $120,000 37% $120,001–$180,000 $135,001-$190,000 45% >$180,000 >$190,000
More Posts
Share by: