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

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.

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."

Know About Your Cheque

Many of us frequently use chequebooks to pay for all kinds of things. But do you know how to read a cheque beyond those first six digits, known as the cheque number? What do other numbers on the cheque say and how do they help the banking industry facilitate the processing of cheques? Here is a lowdown on chequebook and some banking jargon:

First six-digit block: It is common wisdom that the first six digits on your cheque are your cheque number. It is important to note the number because if your cheque gets lost or the money has not been credited, you can know the status of the cheque by providing the cheque number.

Magnetic ink character recognition

Magnetic ink character recognition or MICR comprises nine digits, which are further sub-divided as city, bank and branch code. It works the same way as your home or office address, enabling your snail mail to reach you from far-flung places. But unlike your addresses, the banking address is all numerical, where:

1.City code:The first three digits specify the city in which you have a bank account.

2.Bank code:The next three digits of MICR specify your bank in thatparticular city.

3.Branch code: The last three digits of MICR help in figuring out the specific branch of the specific bank.

The nine-digit code is called MICR because it is printed with magnetic ink, which is usually made of iron oxide. Magnetic ink is used so that numbers are readable even if it is stamped over.

4.A/c with RBI: The third numeral block represents your account number maintained by the Reserve Bank of India (RBI). The number helps in cheque processing when it goes to RBI for clearance.

5.Transaction code: The last two digits at the bottom of the cheque help in decoding whether the cheque is current or a saving account cheque. MICR also tells whether the cheque is at par. It helps in processing an intra-city cheque as a local one with a faster turnaround time.

6.Drawee/paying bank: A bank making the payment.

7.Payee: The beneficiary to whom the drawer issues the cheque.

8.Drawer:A person writing the cheque.

Inward clearing:It is important to be aware of the concept because the type of clearing affects the speed of transaction. Inward clearing is for the bank that issues the cheque.

Outward clearing:Outward clearing is for the bank in whose name the cheque has been issued. The inward and outward clearing bank can be same if the bank that issues and the bank in whose name the cheque has been issued are the same.

Indian Rupee

Finally Indian Rupee has got a symbol
Proud to be an Indian....
Jai Hind!

Gate way of INDIA,Bombay

Itz an old image of Gate way of India(Apollo bunder is old name)

thanks for the souce...

Nice Lines

Achcham thavir, Naiya pudai
(Rid yourself of fear, Strike hard (the evil/obstacle))

Maanam poatru, Routhiram palagu
(Cherish honour, Learn righteous indignation)

Aanmai thavarael, Kedilum thuninthu nil
(Do not lose your manliness, Stand firm in ruin)

Keduppathu sorvu, Thiyoarku anjeal
(Fatigue spoils, Be not afraid of evil)

Oythal oli, Naer padap paesu
(Do not flag, Talk straight)

Thaalndhu nadavael, Mikaipada solael
(Don’t lose your Dignity, Don’t over dramatize)

Kaalam aliyeal, Keelorkku anjeal
(Do not waste time, Be not afraid of what is base)

Por tholil palagu, Tholviyil kalangael
(Learn the art of warfare , Do not become upset by defeat)

Pudhiyana virumbu, Veeriyam perukku
(Welcome progress, Increase virility)

Pedhamai Akatru, Unmaikku anjael
(Eradicate ignorance, Don’t fear for truth)

Vedipara paesu, Nandru karudhu
(Speak with clear articulation, Always think good)

Vavvudhal neekku, Thavaththinai nirappu nee
(Avoid covetousness, Practise penance daily)

Katradhu olugu, Kaitholil potru
(Practise what you have learned, Cherish manual work)

Saerkay ariyea, Paeigalukku anjeal
(Know whom you associate, Have no fear of ghosts )

Maanam potru, Mandhiram valimai
(Cherish honour , Mantra is potency)

Vallamai pasael, Naal ellam venai sei
(Dont self-praise, Strive all day long)