Inspiring man behind Amul

10 rules for success in business:

§        Don’t wait for a revolutionary idea. It will never happen. Just focus on a simple, exciting, empty space and execute as fast as possible

§        Share your idea. The more you share, the more you get advice and the more you learn. Meet and talk to your competitors.

§       Build a community. Use blogging and social software to make sure people hear about you.

§         Listen to your community. Answer questions and build your product with their feedback.

§        Gather a great team. Select those with very different skills from you. Look for people who are better than you.

§        Be the first to recognise a problem. Everyone makes mistakes. Address the issue in public, learn about and correct it.

§        Don’t spend time on market research. Launch test versions as early as possible. Keep improving the product in the open.

§       Don’t obsess over spreadsheet business plans. They are not going to turn out as you predict, in any case.

§       Don’t plan a big marketing effort. It’s much more important and powerful that your community loves the product.

§       Don’t focus on getting rich. Focus on your users. Money is a consequence of success, not a goal.

Source: http://goo.gl/MRbgj

Is this the most sought after job for Next Gen Indians?

Jobs in consultancies and investment banks are still amongst the most sought-after in India, even after the financial crisis of 2008. Rewind to a decade back and it were the software coders that every teenage Indian looked up to and aspired to be. However, it seems that the next generation of Indians would prefer to toil under the burning sun rather than sit in plush air conditioned offices. At least that is what an article in leading business daily claims. It cites the examples of professionals working with MNCs quitting their jobs to become farmers. Yes, you read that right! Given the steady rise in prices of food products in recent months, farming is the next obsession for a small group of young and educated Indians.

Why do the farmers then commit suicide you may ask! Honestly, we ourselves do not see the young and ambitious agricultural entrepreneurs doing too well in the long run. That is unless the government policies change dramatically in their favour.

Despite years of subsidies and minimum pricing offered for agri produce, the small and marginal farmers continue to remain at the mercy of rainfall. True the educated lot can use research and technology to their advantage. But at the end of the day, inability to sell the produce at profitable rates could make the sophisticated farmers as debt burdened as their illiterate peers.

Hence farming could certainly be a good option for a nation of young and largely unskilled population. Literacy and better technology could also help minimize risks. The certainty about rise in commodity particularly food prices makes the option that much more lucrative. However, in the absence of adequate government policies to secure farmlands and make farming a profitable venture, the scope remains limited. We keep our fingers crossed.

source: equitymaster

Success in finance doesn't require extraordinary talents.

What you need instead is a deep seated belief in the school of value investing and the discipline to stick to it come what may. Ruane has laid out four rules that guided his investment career. These are 
1) buy good businesses, 
2) buy businesses with pricing flexibility, 
3) buy net cash generators and 
4) buy stock at modest prices. 
Clearly, not much different from what Buffett follows. And certainly very easy for others to follow as well.

Investing in Silver

India imports more than 4000 tonnes of silver annually which shows the rising demand silver.





Now you can invest in silver through NSEL e-silver easily it is similar to ETF.

Father of Atomic Bomb says about vedas

Access to the Vedas is the greatest privilege this century may claim over all previous centuries.

Intersting 10000

Warren Buffett... Bill Gates... Sachin Tendulkar... The sheer mention of these larger-than-life demigods fills us with awe and reverence. They seem like glorious stars; so many light years away that we are content just gazing at them.

Most of us have grown up believing that all great people have some inborn talent. As if they were just meant to be that way. Have you ever thought if it would be possible to be like them? If you haven't, you may want to reconsider after reading this. Okay, let's consider what it takes to become a super-achiever.

Achievement= Innate talent+ Opportunity+ Preparation.

There is not much to debate about this equation. These three ingredients pretty much make up the recipe for success. The interesting part is this... Research on super-achievers has led psychologists to this conclusion: Preparation plays a much bigger role in determining an individual's success than innate talent. Wow! This means that even if you're not a born genius, you haven't lost the battle. All you need is a willingness to prepare well.

Now the next question is quite obvious. How much preparation to become a world-class expert? Through extensive research in the 1990s, psychologist Anders Ericsson arrived at a precise number: 10,000 hours. Various studies strongly pointed that 10,000 hours of practice was required to achieve world-class expertise in anything. It seems that it takes the brain this long to assimilate all that it needs to know to achieve true mastery.

Warren Buffet, for instance, is famed for his discipline and the hours he spends studying financial statements of potential investment targets. But his informal schooling in business and investment started much early when he was just 5. As a kid, Buffett displayed a keen interest in making and saving money. He would go door to door selling chewing gum, Coca-Cola, or weekly magazines. While still in high school, he carried out several successful money-making ideas. By age 11 he made his first investment buying a stock. And by age 13, he had filed his first income tax return.

Take our own little master-blaster Sachin Tendulkar. He is known for spending long hours at the nets, always perfecting his cricketing reflexes. Take Microsoft's founder Bill Gates. He met the 10,000-hour rule when he gained access to a high school computer at the age of 13, and spent 10,000 hours programming on it. Practice isn't the thing you do once you're good. It's the thing you do that makes you good.


source: equity master.

Compound Interest

Formulae to calculate compound interest:

A=(1+i)ⁿ

A- amount
i- interest
n-number of years.

Quote I Like

Karmanye vadhikaras te
Ma phalesu kadacana
Ma karma-phala-hetur-bhur
Ma te sango ‘stv akarmani
-The Bhagvadgita, Chapter 2, Verse 47

"A man’s karma is to forever turn the wheel of life towards a better future for all."

Ravanan as a teacher to Ram

"Remember, it is the nature of the ignorant mind to be drawn towards things that will cause harm and to avoid things that are good.We must remember that what tempts us will in all probability be the cause of our downfall. What we shy away from, what we procrastinate about, probably is what will help us evolve." - words said by Ravana to Lord Ram.

Dressing

Eat to please thyself, but dress to please others.
-Benjamin Franklin

An Executive Interaction

When I came to know that EIP is going to be conducted by Mr.Pamod Sardar Joshi at first I didn’t know what he’s going to speak about with the topic From “Purani” Jeans to “Armani” suits. As soon as he came he displayed that the topic going to be presented is “SUSTAINABLE ,HIGH-IMPACT LEADERSHIP” I was attracted towards the topic. He started up with a story and gave a note that “When the Sun comes up you had better be running”, I learnt that every person should work harder towards their goals else the competitor would lead you in any way. This is similar to corporate. He gave it with good examples of corporate like how Oracle takes over 23 companies in 30 months.

A Brand is built on the basis of Trust, Value and Consistency in providing service similar to corporate a management student has to build his own Brand. He pointed out that a person shouldn’t have the chalthae attitude in any work he does, meet the deadlines and manage time efficiently. The market in which we are now is at high speed either a person should be able to cope up with it else wind up his work.
“You only learn who has been swimming naked, when the tide goes out” – Warren Buffet
The above quote gave me an insight that student should be prepared to face adversities in corporate.
Every MBA student should have a Quintessential Differentiation; he should have his own way or style of delivering anything which many people call it as USP. He gave more emphasis on knowing the basic concepts of management which is essential for any management student entering corporate.
He came out with what are the 8 future challenge, they are:

1. Development to retain best talent.
2. Anticipate changes.
3. Management of talents.
4. Improving Leadership development.
5. Managing work life balance.
6. Analytic/Demographics/Science.
7. Managing change and Transformation.
8. Managing Globalization.

Also he said about the three worlds of corporate

• Small is beautiful
• Corporate Social Responsibility
• Corporate is king

“We cannot choose our parents or choose the corporate in which we are going to work”.
Some of the blockages which prevent a management student from getting ahead are:

• Fear or insecurity.
• Not seeing that there is a problem.
• Unwillingness to take risks.
• Poor communication skills.
• Public speaking fear.
• Unclear Personal goals.
• Low creativity.
• Inadequate problem solving skills and
• Low influence.

A Leader should have the following qualities

• Conviction
• Character
• Courage
• Composure
• Competence

“Only Person who always likes change is Wet Baby” - Leslie J. Flanders

At some point I came up with a question that “Why Foreign companies alone set standards, when does an Indian company set standards on its own?” which rang up in my mind. When I asked this he gave an explanation with Indian corporate example like Infy, Wipro and Future group. He also asked a question that “what way do you say that Indian companies are following the foreign companies?” I was unable to answer to this question, this he related to how a MBA should be while interview he should be assertive able to answer any questions with right sense. I also learnt about my weakness. At some point he said that “It is all how we react to situations matters”. Body Language is another key for success in an Interview; a person’s walk determines who he is. “If you are done well here you will do well out” which was said that give more importance in what ever you do in your college, it would some way help you in corporate. For Entrepreneurs he pointed out that they should target the bottom of the pyramid in order to have a good future.

For a person to be successful in corporate he should understand himself and understand the company. He gave a formula:

PQ= fn (IQ+EQ)*SQ

Where,
PQ- Personnel quotient
IQ- Intelligence quotient
EQ-Emotional quotient
SQ-Spiritual quotient

It can be understood that Spiritual Quotient is the important thing on which a person should give more importance along with Intelligence quotient and Emotional quotient. He pointed out its essentiality with examples of Lehman Brothers. Inner Mastery is needed for any person to grow in life. A persons mind, body, heart and soul should be focused on achieving the goals of his life. He concluded with the statement “BE HAPPY”.
“Test fast, Fail fast and adjust fast”

Reguirement of an MBA

Three things are required for an MBA:
1.Discipline (in what to do and what not to)
2.Industry Knowledge and
3.Self Analysis (knowing thyself)

These were said by Bosch Regional GM Mr.Venugopal.

Power Talk: Dr Devdutt Pattanaik