wealthymatters

Enjoy!Don’t Fight.

February 10, 2014 Leave a comment

wealthymatters How do the Hindujas transfer wealth down the generations?

The NRI Hinduja brothers-Srichand, Gopichand(both based in London), Prakash (who operates from Geneva) and Ashok (who lives in Mumbai) have set up a trust that owns the group’s assets.

So,if a young Hinduja spots, say, a cool car that costs a bit, the trust will buy it for him/her. Same for, say, a plush apartment. The trust will get you stuff, but no one will really individually own the assets. Enjoy – don’t fight — seems to be the message from the Hinduja seniors.

Filed under Theory Tagged with Ashok Hinduja, family trusts, Gopichand Hinduja, Hinduja brothers, inter generational wealth transfer, postaday, Prakash Hinduja, Srichand Hinduja, wealth transfer

The Importance Of Big Time Shaadis

February 10, 2014 Leave a comment

wealthymatters

Family marriages are a big deal for India’s well to do.If you’ve got a company to buy or sell to a foreign business entity, get the potential buyer/seller to attend your big family shaadi………

In 2011, GVK’s Sanjay Reddy invited billionaire Aussie mining heiress Gina Rinehart to attend his daughter’s big bash wedding ,just ahead of closing a mega deal with her Down Under. Rinehart in fact flew in Aussie MPs in her private jet for a sumptuous three-day ceremony in Hyderabad.

Recently, Manoj Gaur invited TAQA top brass for his son’s wedding in the Capital. And they did oblige, flying in from their Abu Dhabi headquarters. TAQA and Gaur are in serious conversation to buy out Jaypee’s hydro plants in Himachal – a multi-billion transaction, if it happens. TAQA bosses were treated as special guests, introduced to family, friends and lenders – lenders to Jaypee, that is.

Filed under Tidbits Tagged with Gina Rinehart, Jaypee, Mallika Reddy, Manoj Gaur, Pinky Reddy, postaday, Sanjay Reddy, Sidharth Indukuri, TAQA

Mobile Payment Processing

February 10, 2014 2 Comments

wealthymatters Mobile payment processing can turn a phone into a POS system instantly. Consequently, merchants can accept any type of payment through on-the-go mobile credit card payments. For small businesses, this service is tremendously beneficial as they don’t have to go to the expense of setting up the traditional type of credit card processing services.

Mobile credit card processing has the following important benefits:-

• The first benefit of mobile credit card processing is cost effectiveness. The service is cheaper than what traditional credit card processing costs, and so it helps to add to overall business profit.

• With mobile credit card processing, there is less chance of fraud. This is because you receive real-time validations, so the risk of receiving a fraudulent payment is almost completely eliminated.

• Another major benefit is that it’s fast and easy to get set up and start receiving payments. Read more of this post

Filed under Entrepreneurship Tagged with mobile credit card processing, mobile payment processing, postaday

Kick The But

February 6, 2014 1 Comment

wealthymatters Here follows a great story from Quora –

A very smart woman I worked with once told me that if I eliminated the word “but” from my professional vocabulary, I’d find greater acceptance for my ideas, and greater cooperation from my team members. She said people would have a very different perception of me if I could change this one thing.

The reason, she said, is because the word “but” negates everything that precedes it, and you cast a negative spin on anything you say when you use it.

Consider, for example, “We can do it this way, but it’ll be way too expensive given our budget,” versus “We can do it this way, and if we do, we’ll need to cut back on other important features.” The first indicates that we can’t even consider the option. The second acknowledges possibility and describes consequences.

“But” is exclusive and isolating, “and” is inclusive and welcoming.

She was absolutely right, and it’s advice I have used with great success for the past 30 years of my life.

Filed under Entrepreneurship, Tool Kit Tagged with consensus building, postaday, say and not but

Pay It Forward – Lesson From Silicon Valley

February 6, 2014 Leave a comment

wealthymatters When Vijay Vashee joined Microsoft in 1982 he was just one of two Indians at the 160-person company. It added several more recruits from India, mostly IITans, over the years. They held low-level technical positions. Vashee became the first Indian to break through Microsoft’s glass ceiling in 1988 when he was named general manager for Microsoft Project. In 1992 he was asked to head the fledgling PowerPoint Division and helped grow this from $100 million to a billion-dollar business.

About the same time as Vashee, Indians in Silicon Valley began breaking glass ceilings. They all faced the same hurdles: a belief that Indians made great engineers but were not capable of becoming managers—certainly not CEOs. A common perception was that they didn’t know how to delegate authority and could not lead companies. Fast forward to today when the Microsoft CEO Satya Nadella is India-born. Sundar Pichai another contender for the job is also Indian American. Yet they would not have made the list a few years ago because of the negative stereotypes. This shows how much the technology industry—and America has changed. How did this transformation happen?

Very simply: Indian Americans started helping Indian Americans—regardless of their caste, religion, and regional heritage. They decided to forget which part of India they were born in and just to focus on the cause. When the first generation of Indians in Silicon Valley succeeded in shattering the glass ceiling, they decided to help others follow their path. They realized that they had all surmounted the same obstacles. They had open discussions about the hurdles they had faced. They formed networking organisations such as TiE to teach others about starting businesses, and to bring people together. The first generation of successful entrepreneurs—people like Vijay Vashee—served as visible, vocal, role models and mentors to the next. And they provided seed funding to members of their community. This helped Indians achieve extraordinary success. Read more of this post