The New Normal for a Successful Mindset
What is the new normal for a successful mindset? The pandemic has forced us to think differently and to quickly adapt to changes we would have previously considered very unlikely. It is not good luck, rather a strong and responsible leadership ethic of any company fully prepared to change to a Work-from-home scenario when the Corona Virus hit.
The New Normal Mindset #1 – We are Chasing Technology
Technology is ahead of where we think it actually is. The learning curve of human beings has been overtaken by technology in the past couple of years, but due to exponential growth, it is now getting uncomfortable for some of us to accept. If we give credence to the fact technology is going to get a lot smarter than most humans, we need to learn how to utilize technology to apply it to our needs. When the steam machine took over muscles and hard men’s work, engineers utilized that power and used it to their advantage.
The New Normal Mindset #2 – Flexibility is the Ultimate Perk
When the pandemic hit the world, our leaders were unclear how to handle it and the Nation’s population were forced to make decisions based on trial and error. There was less stability in our daily lives and confusion about what and who we could trust and rely upon. As human beings thrive on routine and security, we are accustomed to a world where we need not take unnecessary risk. Now that the world around us is constantly changing, flexibility has become the new golden thread which guides us through the uncertainties. Flexibility keeps our thought processes agile and without realizing it, or perhaps even believing it, moves us forward.
The New Normal Mindset #3 – Be a Futurist
Technology, business methodologies, environmental challenges, Work-Life-Balance, it comes down to building a system around oneself. The assistance and guidance of one’s career, family and friends influence one’s personal success and even their downfall. Each of us needs to be a futurist by both looking forward to where we want to be in 10 years and looking back to where we were 10 years ago. Mostly likely any person would say they have changed quite a bit in the last decade, so we need to embrace the idea that change will continue to occur in the world and in our personal lives. Therefore, live in the present but think like a futurist!
The New Normal Mindset #4 – Create Change
Many of us would accurately describe the last year in words of despair, sorrow, anxiety and anger. Conversely, change may be the best word to describe the year 2020. We must learn from the past to understand that change has always been how our world and environment evolves. Change is necessary and constant. Just as a gardener switches out the crops he grows with the changing seasons, we must be adaptable to change in order to survive. If we ethically use technology to our advantage, allow flexibility in our positive goals and look to the future with adaptability, we will not only survive, we will each be part of making the world a better place.
We hope you enjoyed this article about the new normal for a successful mindset. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe to our YouTube Channel for more updates.
Considerately yours,
GROCO, GROCO Tax, GROCO Technology, GROCO Advisory Services, GROCO Consulting Services, GROCO Relationship Services, GROCO Consulting/Advisory Services, GROCO Family Office Wealth, and GROCO Family Office Services.
Alan L. Olsen, CPA, Wikipedia Bio
Sales Tax Deduction Option, State and Local
[vc_row][vc_column][vc_column_text] Sales Tax Deduction Option, State and Local The Tax Relief and Health Care Act of 2006 extended the election to deduct state and local general sales taxes for 2006. The act was enacted after Schedule A (Form 1040), Itemized Deductions, and its instructions were printed. Because we were not able to include the instructions…
California Unitary Group of Corporations; Intercompany Distributions; Deferred Gain Tracking
California Unitary Group of Corporations; Intercompany Distributions; Deferred Gain Tracking New Form 3726 – Deadline Extended to 10/15/09 Unitary Groups must do more tracking in some cases. The Franchise Tax Board wants to make sure deferred intercompany gains don’t get lost over the years (and therefore, never taxed), so they are forcing taxpayers to provide…
Top Self Employed Tax Questions
Top Self Employed Tax Questions What is Business Turnover? Sales turnover is the total amount of income a business earns before deducting business expenses. Turnover includes receipts of any kind for goods sold or work done such as commission, tips, payments in kind, fees and insurance proceeds. Include sales turnover in your financial accounts at…
2010 Tax Relief Act creates a 100% writeoff for heavy SUVs used entirely for business: HISTORY REPEATS ITSELF
[vc_row][vc_column][vc_column_text]OLD RULE: A calendar year taxpayer bought a $50,000 heavy SUV in June of 2010 and used it 100% for business in 2010. It may write off $40,000 of the cost of the vehicle on its 2010 return, as follows: … $25,000 expensing deduction (Sec. 179(b)(6) Limit, see below under “History”), plus … $12,500 of…