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The Dangers Of Ossification

August 1, 2012 4 Comments

wealthymatters.com

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

Filed under Entrepreneurship Tagged with Accenture, consensus, experience, family business, fresh perspectives, gold standard, lateral thinking, marketcap, MBA, mentor, postaday, professional CEOs, retirement age, Risk, Tata, Tata retirement policy

3 Major Investments of the Wealthy

September 2, 2011 1 Comment

The wealthy are wealthy because they have superior skills in making and keeping wealth.All of them make it a priority in life to invest in the following 3 things.They cultivate habits that allow the to automatically invest in them.

1. Wealthy people invest in income producing assets.

It’s easier to grow your wealth if you have many sources of income.It easier still if you have many streams of passive income.Now all wealthy people quickly find asset classes that they are comfortable with and make it a point to acquire as many income producing assets in that class as possible-and the bigger the better. Read more of this post

Filed under Theory, Tool Kit Tagged with family, income producing assets, invest in oneself, invest in relationships, Investments of the wealthy, mentor, network, passive income, postaday2011, RandomBlog2011

The Perfect Guru

April 8, 2011 2 Comments

Mentors and gurus,we all need them to shine.But picking the right teacher is really very important.The Indian Cricket Team has not always been fortunate in its coaches.To have followed their history, is to know how a bad teacher can squish the best talent in the world.Teaching is oh so much more than imparting knowledge,instilling discipline and creating perfection.In fact, trying to mould every student to fit some abstract idea of “perfect” is probably the best recipe for killing talent.I hope this article from the the ‘Mumbai Mirror’ helps you pick a good mentor.The red ink is all mine.

There’s only one way to coach

Ashish Magotra

Life of a Solopreneur

March 10, 2011 Leave a comment

This post was originally posted here :http://www.pluggd.in/ekla-chalo-re-story-of-a-single-founder-solopreneur-297/.It gives a good idea of what it is like to be a solopreneur and do an Ekla Chalo Re.I like the idea of starting off immediately by onself without waiting for a perfect launch.After all, a lot of ventures fail but if you never start you can never fail much less succeed.Just contain the downside risk and maximize the upside potential and begin!But do read the story of Sumeet of Kreeo before you begin.

As an entrepreneur one must be focused on being successful whether as a team or single! What is most important is starting up and getting into execution mode rather than waiting for a perfect situation (team, funds, prototype, and customers). None of your dreams will come true if you just keep dreaming and planning. You can’t learn swimming without getting into water.

Coming to the dilemma of starting up as a team (one of the most important factor for getting funding also) or a single entrepreneur. I think it has no impact on the success of your venture. You will need a leadership team for sure but it’s not important to have it in place right from the start (VCs will tell you otherwise), a team can be formed as you move on (only if you don’t need VC money). Read more of this post