A Fact Of Life
April 4, 2014 Leave a comment
When a person with experience meets a person with money, pretty soon, the person with the experience will have the money and the person with the money will have the experience.-Estee Lauder
The Dangers Of Ossification
August 1, 2012 4 Comments
In the story below Alok Kejriwal narrates what happens to a family business when it is ruled with an iron fist by the older generation which gives younger family members and outside professionals no opportunity to air new ideas.
Experience is good.And everything new is not necessarily good.Professional managers are not automatically better than family talent.It doesn’t pay to cast aside the old tried and tested methods without thought.However,nothing good comes out of eschewing new ways altogether.Taking a risk on something new,when the older way has been very successful,is hard.But regularly experimenting with new ways in a controlled manner and adopting them if they are good, is a must to stay competitive. Read more of this post
The Basis Of Real Independence
July 4, 2012 5 Comments
“If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.” ——Henry Ford.
Merely transferring money to children will not make them and keep them wealthy.They need to know how to make it and keep it in the real world.Basically develop their common sense.
Merely becoming wealthy will not set a person free unless like Henry Ford we can say:“If I lose a billion dollars, I will have it back in less than five years.”
wealthymatters 