Theory | wealthymatters

How To Grow A Business

August 30, 2011 3 Comments

This is a list of 10 steps to grow your business from scratch.You have to put in some time ,a bit of your labour and maybe a bit of your savings at the beginning and then bootstrap your way up.It is inspired by the post here:- http://7million7years.com/2011/08/26/why-most-business-owners-are-not-wealthy/

Find something you can make or something you can do that somebody else will pay you for.
Find out if others will pay you to make or to do the same thing for them too.
If the answer is yes to point 2,find out ways of locating other such customers.
Make a detailed note of how to go about finding and getting customers the fastest,easiest and cheapest way. Read more of this post

Filed under Entrepreneurship, Theory, Tool Kit Tagged with !0 Steps To Grow Your Business, automation, Bootstrapping, capital expenses CAPEX, deskilling, Entrepreneurship, mechanization, outsourcing, postaday2011, profits, RandomBlog2011, software, working capital

Sudha Murthy and JRD Tata

August 23, 2011 8 Comments

Sudha Murthy is the wife of N.R. Narayana Murthy,Founder of Infosys.She is the Chairperson of Infosys Foundation.Here is a story I found today.In it she narrates how JRD influenced her life.Enjoy!

“There are two photographs that hang on my office wall. Every day when I enter my office I look at them before starting my day. They are pictures of two old people, one of a gentleman in a blue suit and the other a black-and-white image of a man with dreamy eyes and a white beard.

People have asked me if the people in the photographs are related to me. Some have even asked me, “Is this black-and-white photo that of a Sufi saint or a religious guru?” I smile and reply “No, nor are they related to me. These people made an impact on my life. I am grateful to them.” “Who are they?” “The man in the blue suit is Bharat Ratna JRD Tata and the black-and-white photo is of Jamsetji Tata.” “But why do you have them in your office?” “You can call it gratitude.” Read more of this post

Filed under Philanthropy, Theory Tagged with House of Tatas, Indian Institute of Science, Infosys, Infosys Foundation, JRD Tata, N.R. Narayana Murthy, Pimpri Pune, postaday2011, RandomBlog2011, Sudha Murthy, Sumant Moolgaokar, Tata Group, Tata Motors, Tatas, Telco

Sunil Bharti Mittal and Entrepreneurship

August 22, 2011 27 Comments

wealthymatters.com Dr.Sunil Bharti Mittal, Padma Bhushan ,was born in Ludhiana.He is a first generation entrepreneur. His father is the late Sat Pal Mittal MP.

Mittal’s first venture was making crankshafts for local bicycle manufacturers.He started in 1976 at the age of 18, with a capital investment of 20,000 borrowed from his father. Within three years he had set up two more plants, one that turned out yarn and the other stainless-steel sheets used for surgical utensils.

The initial days proved to be difficult and he earned very little from his businesses. But he kept at it.His businesses required him to travel a lot — sometimes, with very little in his wallet. In those days he travelled alongside his goods at the back of trucks. Travelling by air was out of the question — a train ticket was all he could afford. Hotels were out too — small hostels and clubs were what his budget allowed. He put in 16 to 18 hours each day, but his business just didn’t take off. So after mulling over other possibilities, he changed track. Read more of this post

Filed under Entrepreneurship, Theory Tagged with Bharti enterprises, cell phone, Entrepreneurship, outsourcing, postaday2011, RandomBlog2011, Sunil Bharti Mittal, Telcom, Zain

Life Lessons From the Very Wealthy

August 22, 2011 1 Comment

wealthymatters.com 1. Having money is better than not having money.

Money may not buy you happiness, but it buys many other important things. Like financial security, excellent health care, education, travel and a comfortable retirement.

2. Don’t become “cash rich” and “time poor.”

Devoting all one’s waking hours to making money is a problem that especially plagues professionals. Lawyers, doctors, bankers and accountants can get so caught up in the competitive nature of their jobs that they lose touch with their family. Any semblance of a normal personal life disappears, and a very unhealthy balance between work and home develops.

Work is the process of exchanging time for money.If you are working so much to become rich but you ignore your spouse and miss seeing your kids grow up, you are actually poorer than you realize. Read more of this post

Filed under Theory, Tool Kit Tagged with cash rich time poor, Goals, Lessons from the Wealthy, lifestyle leverage, luck, planning, postaday2011, RandomBlog2011, vision, work

Bill Gross and Frogs

August 20, 2011 4 Comments

wealthymatters.com Using the metaphor of frogs Bill Gross explains Financial Repression and the ways of dealing with it.Of course he speaks of the situation in the US but there is no reason why investors in other countries whose governments are struggling with debt can’t learn from him.All said and done not for nothing he is the Bond King!

To quote him “Put a frog in a kettle of boiling water and he’ll jump out faster and further than any of those blue ribbon winners at the Calaveras County jumping frog contest.Put him in a pot at room temperature, however, slowly turn up the temperature to boiling, and you’ll have frog legs for dinner. This latter, more unfortunate toad temporarily adapted to his external environment, which seemed like a practical thing to do, until – well, until he reached 212 degrees at which point he was cooked.”Financial repression is similar to slowly turning up the heat on poor froggy/the bond holder/saver. And the boiling point is when the nominal returns on bonds turns negative. Read more of this post