Tool Kit | wealthymatters

The Time Thieves

June 13, 2013 2 Comments

wealthymatters You have 24 hours in every day, seven days a week for a total of 168 hours to accomplish what needs to be done in your life. And every day, eleven time thieves gang up on you and work to take some of that precious time away from productive use. Let me introduce you to this inconsiderate troupe.

Poor Planning. People don’t plan to fail but a lot of people fail to plan. Without a plan of action set up before your day begins you are likely to get caught up in “stuff,” responding to the loudest voice that gets your time and attention. Will you have been productive for the day? Sure, but not as productive as you might have been.

Crisis Management. When a deadline sneaks up on you it robs you of all choice and you are controlled by the clock. Crisis management, for the most part, is poor time management because you’re rushed and stressed, letting things slip through the cracks and often having to go back and redo what was not done well in the first place. Most of what puts you into crisis management is within your control, you could have seen it coming. Read more of this post

Filed under Entrepreneurship, Theory, Tool Kit Tagged with postaday, prioritization, say no, time management, time thieves

10 Year Government Bond Rates World Wide

June 5, 2013 Leave a comment

wealthymatters

There are many ways to look at the 10 year government bond rates.They give us an idea of might be the risk free rate of return in any given country.Compared across the world,they could be a way of understanding how risky the world considers investing in any country to be.However governments try everything in their power to influence this rate to manage their debt,manage inflation etc.so each figure needs to be understood in its context.Comparing government bond rates across tenures in any country allows us to get an idea of the yield curve and the economic prospects of the economy.

Here is a link to a constantly updated list of 10 year government bond rates.Link

Filed under Paper Assets, Tool Kit Tagged with 10 Year Government Bond Rates, 10 Year Government Bond Rates World Wide, 10 year government bonds, bond rates, bonds, debt management, inflation management, investing in bonds, postaday, risk free rate of return, sovereign risk, yield curve

Do You Know About The Navaldharis ?

June 4, 2013 3 Comments

I came across this intriguing extract in Chetan Bhagat’s ‘The 3 Mistakes Of My Life’.

‘Navaldharis is a hardcore entrepreneur community in Gujarat.Everyone there does business. And they say, a true Navaldhari businessman is one who can rise after being razed to the ground nine times.’

Googling didn’t throw more light on this community.Can any of you,especially my Gujarati readers tell me more about this community?Its prominent members and their entrepreneurial journeys?Their culture,their habits,the values and attitude they cultivate in their children etc.Basically anything we can learn from this community that will help us all become better business people.

Filed under Entrepreneurship, Tool Kit Tagged with 3 Mistakes Of My Life, Chetan Bhagat, entrepreneur community of Gujarat, entrepreneurial journey, entrepreneurial spirit, fostering the entrepreneurial spirit, learning from entreprenurs, Navaldhari, postaday, raising young entrepreneurs, recovering from a failed business

The Monk Who Sold His Ferrari

May 29, 2013 7 Comments

wealthymatters I have just finished with this book by Robin Sharma.I can’t say I liked it very much.I am something of a purist and mixing the philosophies and practices of different cultures and mis attributing them, really put me off.That said,I don’t deny that the book does a decent job of compiling useful techniques to get more out of life.The following is my summary of tips to life a fuller life,culled from this book.

1.Remember the following nonsense story.It will help you remember the most important things to get more out of life:

You are sitting in the middle of a magnificent, lush, green garden. This garden is filled with the most spectacular flowers you have ever seen. The environment is supremely tranquil and silent. Savor the sensual delights of this garden and feel as if you have all the time in the world to enjoy this natural oasis. As you look around you see that in the center of this magical garden stands a towering, red lighthouse, six stories high. Suddenly, the silence of the garden is disturbed by a loud creaking as the door at the base of the lighthouse opens. Out stumbles a nine-foot-tall, nine-hundred-pound Japanese sumo wrestler who casually wanders into the center of the garden.The Japanese sumo wrestler is naked! Well, actually he is not totally naked. He has a pink wire cable covering his private parts.As this sumo wrestler starts to move around the garden, he finds a shiny gold stopwatch which someone had left behind many years earlier. He slips it on, and falls to the ground with an enormous thud. The sumo wrestler is rendered unconscious and lies there, silent and still. Just when you think he has taken his last breath, the wrestler awakens, perhaps stirred by the fragrance of some fresh yellow roses blooming nearby. Energized, the wrestler jumps swiftly to his feet and intuitively looks to his left. He is startled at what he sees. Through the bushes at the very edge of the garden he observes a long winding path covered by millions of sparkling diamonds. Something seems to instruct the wrestler to take the path, and to his credit, he does. This path leads him down the road of everlasting joy and eternal bliss. Read more of this post

Filed under Theory, Tool Kit Tagged with book summary, postaday, Robin Sharma, The Monk Who Sold His Ferrari

List Of Insurance Companies In India

May 24, 2013 2 Comments

Today there are a heck of a lot of Insurance companies in India and every few days some or other new product is launched and withdrawn.

Insurance agents are are paid by the companies they represent and have little motivation to study products from other companies and none to recommend any of them to you.

Theoretically, brokers who are deemed by law to work in the interests of the buyer,are meant to study products from multiple companies and impartially recommend the best for their client. But remember they are compensated by insurance companies on the basis of each product they sell.Additionally the commission is on a percentage basis and calculated on the size of the premium.So brokers too face a conflict of interest and have less incentive to sell cheaper products. Read more of this post