Use Envy To Get You Going!

August 1, 2012 5 Comments

In Buddhism, the term irshya is commonly translated as either envy or jealousy. Irshya is defined as a state of mind in which one is highly agitated to obtain wealth and honor for oneself, but unable to bear the excellence of others.The term mudita (sympathetic joy) is defined as taking joy in the good fortune of others. This virtue is considered the antidote to envy.

Moreover, psychologists (van den Ven et al., 2009) have recently suggested that there may be two types of envy: malicious envy and benign envy – benign envy being proposed as a type of positive motivational force.Do read the article here http://www.spring.org.uk/2011/05/why-envy-motivates-us.php and note the following:

We tend to feel malicious envy towards another person if we think their success is undeserved. This is the type that makes us want to strike out at the other person and bring them down a peg or two. However when another’s success feels deserved to us, we tend to feel a benign envy: one that isn’t destructive but instead motivates.

…people who felt they had little control over their ability to improve resorted to admiration. On the other hand, those who thought they could improve experienced benign envy and were motivated to work harder. It’s the feeling of control that motivates.

Benign envy encouraged people to perform better on measures of intelligence and creativity, when compared with both admiration and malicious envy.

Bright, shiny objects!

notsalmon

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Filed under Theory, Tool Kit Tagged with 2009, admiration, Attitude Adjustment, benign envy, Buddhism, dealing with envy, dealing with negative emotions, envy, good fortune, invidiousness, irshya, jealousy, joy, malicious envy, mudita, postaday, psychology, state of mind, success, van den Ven et al., wealth

Use your a.m. to aim you happily into your day…

August 1, 2012 2 Comments

Here’s a small tip that works for me.During the previous evening,or just before drifting off to sleep in the night,or first thing in the morning,think up of no more than 3 important things to do.Preferably think of only 1 thing to do so that you can really focus and train all your resources on achieving this goal.If you have more than 1 goal rank them 1,2&3Remember this grid: https://wealthymatters.com/2012/07/18/putting-first-things-first/.Then think of discrete actions you need to accomplish.Then do them first.No phone calls,no mails,to talking to people unless that is your goal for the day,etc.The idea is to tackle at least one important thing when mind and body are fresh and you can’t use fatigue as an excuse.Busy Work takes up all the time available to it,so by restricting the time available to it you won’t let busyness take over your life.

Remember thinking repeatedly of doing something ,obsessing,worrying takes the same mental energy and time as a actually doing it.Do do don’t waste time and energy!You will enjoy the relief from tension and sense of accomplishment of having done something you think important.

Bright, shiny objects!

I have heard and often repeated that the first hour is the rudder of your day. Make the most of it!!!

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Filed under Entrepreneurship, Tool Kit Tagged with busy work, busyness, goal, goal setting, important, mental energy, postaday, Stephen Covey Grid

What Comes First – Reputation Or Profits?

July 31, 2012 Leave a comment

wealthymatters.com “If you go to most family owned companies, their core focus is profitability. How much and how soon? Little time or money is spent in building a reputation. When I visit many of the big India business group offices in India, I rarely see a poster in the visitor’s area that communicates:

What are their business practices?
What do they stand for?
What are their values?
What are their views on treating their employees?

In most Tata Companies, I see that Value Statement at eye level while sitting on the sofa at the reception. It makes me feel nice.

By not aggressively creating a positive reputation, Companies stand the risk of being determined by legacy and hearsay. That’s a big risk that can cost you your business. Read more of this post

Filed under Entrepreneurship Tagged with car insurance, corporate values, first choice, insurance companies, insurance offers, insurance products, legacy, postaday, profits, reputation, Tata, Tata Companies, Tata-AIA Life Insurance, TATA-AIG General Insurance, Value Statement

Alok Kejriwal On the Importance Of Branding

July 31, 2012 4 Comments

“Sam (Sam Balsara of Madison Media) was invited by a Mega Marwari Corporation (MMC) for a chat to help create a Salt Brand. Sam was asked by the grey haired senior executive, ‘how much money would it cost to build India’s greatest salt brand?’ Sam thought for a moment and said ‘Say 20-30 crores (4-6 million US$) in media spends. Assuming your product is great, that should take you to the top’. Mr. Grey Hair heard this and almost fell off his chair…

He said ‘Sam – with that money, I can build 5 more Salt factories!’. Sam pointed in the direction across the street and said ‘Mr. Grey Hair – the folks just opposite your office created Tata Salt. Today, every salt factory in the country goes to them to supply them unbranded salt. The one solo Tata Salt brand is more valuable that 100 plain factories put together. Adding 5 more factories to your collection will not do anything for you’. Mr. Grey Hair looked perplexed. Read more of this post

Filed under Entrepreneurship Tagged with Alok Kejriwal, brand communication, branding, Colgate, long term value, Madison Media, postaday, recievables, Sam Balsara, Tata, Tata Namak, Tata Salt, The Importance Of Branding

Alok Kejriwal On Marwari Business Traits

July 30, 2012 4 Comments

The Marwaris are so successful at business,so it makes sense to learn from them.In the article below Alok Kejriwal of contests2win.com writes about what he learnt from his family business.

The Seven Subjects I learnt at Marwari Business School (MBS)

On the last day of my ICSE exam (10^th standard finals), my Nani (Grand mother) offered me a free seat into the Marwari Business School. I was 16 and I had the opportunity to go and sit in my Nana’s (Grand father) office.

I took up the offer.

These are the seven subjects I learnt:

M = Monetization Mentality

Monetization above everything else!

For Marwari’s, money pretty much means everything. It’s the ‘currency’ of success – pun intended. People are sized and measured not by their waist sizes but by the width of their balance sheet. A Marwari’s religion is making money and they meditate on it.

What Monetization and its terms means is also unique for Marwari’s.

For instance, I learnt that Revenue was not what you ‘bill’ or ‘pass-thru’ or ‘recognize’. Revenue was always what you ‘net-net’ earned that came in your coffers.

Revenue is bottom line for a Marwari – not top line. Read more of this post