Advertisements

Alok Kejriwal On Marwari Business Traits


The Marwaris are so successful at business,so it makes sense to learn from them.In the article below Alok Kejriwal of contests2win.com writes about what he learnt from his family business.

The Seven Subjects I learnt at Marwari Business School (MBS)

On the last day of my ICSE exam (10th standard finals), my Nani (Grand mother) offered me a free seat into the Marwari Business School. I was 16 and I had the opportunity to go and sit in my Nana’s (Grand father) office.

I took up the offer.

These are the seven subjects I learnt:

M = Monetization Mentality

wealthymatters.com

Monetization above everything else!

For Marwari’s, money pretty much means everything. It’s the ‘currency’ of success – pun intended. People are sized and measured not by their waist sizes but by the width of their balance sheet. A Marwari’s religion is making money and they meditate on it.

What Monetization and its terms means is also unique for Marwari’s.

For instance, I learnt that Revenue was not what you ‘bill’ or ‘pass-thru’ or ‘recognize’. Revenue was always what you ‘net-net’ earned that came in your coffers.

Revenue is bottom line for a Marwari – not top line. Read more of this post

Advertisements

Using Inflation To Create Wealth


Those who learn from history, have the ability to PROFIT from it.So here is some history:

wealthymatters.comInflations start out slowly.Governments will not openly admit to debasing the currency. They will cite other reasons for why inflation is going up. In Weimar Germany,for example, government officials and those within the finance community blamed their trade partners and foreigners for the Reichsmark depreciating.  German writers and politicians at the time had said that “paper inflation was not the cause or consequence of the external depreciation of the Reichsmark.  The depreciation of the Mark was held completely independent of the condition of paper circulation between 1921 and 1923″ – even though money in circulation went up 23 times within 2 years !  Prices of imported goods back then – denominated in US dollars – went up 344 times.  The official view from within the government of the Weimar Republic – the chancellor, the head of finance, the head of the Reichsbank – was to blame it on the excessive burdens thrust on the German people with war reparations, the violent policy adopted by France (when France invaded and took over an entire industrial section of Germany), and they also blamed it on increases on the price of imported goods.Conversely, the view held by those outside of Germany was that the depreciation of the Reichsmark was due to the government’s huge budget deficits, which required Germany to continuously print paper money. I guess people around the world will recognize the current day parallels to this scene from history.Quite a few governments are doing something like this today.  Read more of this post

%d bloggers like this: