patience | wealthymatters

Patience And Wealth

October 30, 2012 10 Comments

wealthymatters.com

Walter Mischel’s marshmallow test is one of the best-known studies in the history of psychology. In the 1960s, Mischel, then a professor at Stanford, took nursery-school students, put them in a room one-by-one, and gave them a treat (they could choose a cookie, a pretzel stick, or a marshmallow) and the following deal: They could eat the treat right away, or wait 15 minutes until the experimenter returned. If they waited, they would get an extra treat. Tracking the kids over time, Mischel found that the ability to hold out in this seemingly trivial exercise had real and profound consequences. As they matured and became adults, the kids who had shown the ability to wait got better grades, were healthier, enjoyed greater professional success, and proved better at staying in relationships—even decades after they took the test. They were, in short, better at life. Read more of this post

Filed under Theory Tagged with delayed gratification, integrity, patience, postaday, psychology of wealth, trust, Walter Mischel’s marshmallow test, Warren Buffet

The Importance Of Doing Sales

August 4, 2012 10 Comments

wealthymatters.com ‘Vyaapari woh, Jo Bechta bhala’ = A businessperson is one who sells well.

Selling is something a lot of people fear.There is fear of failure,fear of rejection,fear of not having an answer,fear of meeting new people,fear of being judged,fear of offending friends and family,fear of strained relationships etc.etc.However every business is supported by sales.No sales equals no business.And if you would be an entrepreneur you need to be the best salesperson,not just to clock revenue but to speak to bankers,potential hires,suppliers etc.And the only way to get over the fears of selling is to launch yourself into it.You will improve as you muddle through it.Remember “Courage is not the lack of fear. It is acting in spite of it.” Read more of this post

Filed under Entrepreneurship Tagged with confidence, Doing Sales, fear of sales, fear of selling, Importance Of Sales, Letter of Credit, manage moods, patience, postaday, provacation, Selling, start-up

Chinese Proverbs For Entrepreneurs

July 29, 2012 9 Comments

wealthymatters 1. “In every crisis, there is opportunity.”

Most entrepreneurial ventures arise from a solving a problem. If you are faced with a problem, craft a solution and sell that solution to others.

2. “Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.”

Entrepreneurship starts with an idea and ends with a destiny. You craft your destiny with your actions, habits and character. You make your destiny, it doesn’t make you.

3. “The best time to plant a tree was 20 years ago. The second best time is now.”

Aside from 20 years ago, there is no better time to start a business than today.

4. “If you want one year of prosperity, grow grain. If you want ten years of prosperity, grow trees. If you want one hundred years of prosperity, grow people.”

The goal of every entrepreneur should be to start a business and find capable people to run the business so that they don’t have to. Read more of this post