Leo Tolstoy an Russian writer regarded as the greatest author of all time opines that “All happy families are like, each unhappy family is unhappy in its own way but Business is opposite All happy companies are different each one earn a monopoly by solving a unique problem and All failed companies are the same they fail to escape competition.” Its said that a person can be highly educated ,professionally successful and financially illiterate. Many of us are business freak and are aspiring to become entrepreneur and always want to stand on our own business and do not like to work under any corporate or any firm but want to grow as noted enterpriser. This has been a rat race from the past as business is that door which has been knocked by every individual once, but it hardly opens for some. Few call it luck and others name it dedication ,here i am going to put forth some points for business growth through little insights of what we all ignore, which may not be the perfect road to business success but will surely act as catalyst in enhancing and captivating the elusive goal of business.
To this era which is the boosting era of business elites ,one feels inapt to stand and start and has certainly a fear of loosing all what it own ,this is the fear of risk and risk is the second name for Business and risk is not benign to all. We all have the fear of losing which should be much less than the joy of achieving, risk is a part of profit. Now let me have you access to some things which any aspiring business freak must keep in mind before as well as after holding any business.
1.Believe In your own ideas ,thoughts and creations: Be Originative to your cerebration and Mentation. This marks the zeal of every successfulbusinessman. Unless and Until you don’tbelieve in yourself you will never be able to startup and stand on your own, and u will end just with the thoughts of negativity and loss. The Risk which is glued to business will knock every single day to the door of your business mind. Risk of Death never stopped any human from living rather encourages one to do something before breathing the last. Same applies for Business it works with risk and its risk which makes it profitable.
To this era which is the boosting era of business elites ,one feels inapt to enter this risk involved business and fears of loosing all what it owns , the truth of risk is not benign to all and this fear has kept hundreds of desiring chaps out of entrepreneurship all have the fear of losing which should be much less than the joy of achieving. Risk is a part of profit and as long as one does not endorse risk he/she has no right to claim for profit.
The Coca-Cola Company the world known soft drink manufacturer is believed to Sold only 9 glasses per day and now same company is ruling the beverages With a whooping sale of 1.4 billion beverage servings per day .This all was not possible without the will to do without the belief in your cerebration and mentation.
2.Start From Zero: Do want you want to do on your own, not what has been done Already: Every Moment In Business Happens Only Once.
To start with the saying of Peter Thiel “the next Bill Gates will not build an operating system, the next Mark Zuckerberg won’t create a social network, if you are copying these guys you aren’t starting anything new you are just imitating the things “. Don’t do what has already been done or what the world already knows ,by doing so we only take the run from 1 to n ,adding more of something familiar .But every time we create something new ,we get started from 0 to 1.The act of Creation is Singular as well as peculiar and the result is fruitfull There are two ways of progress ,The Horizontal way and the Vertical way . Horizontal progress or the extensive way means copying things that work going from 1 to n. Horizontal progress is easy to happen as the ways are at front to copy and do what has been already done, it goes from one side to the other side. Horizontal progress adds nothing new to the Society or Economy and the best Single word example of horizontal progress is ‘Globalization’ thats taking things that work somewhere and making them work everywhere.
The Second Progress is marked by Vertical Progress which every aspiring business person should ought to have. This progress goes straight upto the top from bottom of zero and is Symbolized as from 0 to 1.The Single word for vertical progress is ‘Technology’ and technology is not limited to computers rather its creating new techniques to lessen the human effort which play a vital role in business streets. Like that of Saneen Javali,his progress was vertical from 0 to 1,he developed new technique and evolved with prosperity and hope for millions.
3.Having Financial Literacy: Money Without financial intelligence is money soon gone. Its not about how much money you make its how much money you keep.
Robert T Kiyosaki Says “I am concerned that too many people are too focused on money and not on their greatest wealth,thier education. If people are prepared to be flexible ,keep an open mind and learn, they will grow richer and richer despite tough changes. “He argues that if people start to earn money to solve their problems ,they will never get out of this trap and will receive more problem with arrival of more money. People should have the knowledge that its the Intelligence that solve problem and thus earn money its not earning money and solving problem. First you have to get out of the problem through your intelligence and that’s what actually works for you and thence you aregoing to earn money. If you started earning money for solving problems your money will fade away easily. Financial Literacy is much important than Financial Balance you keep. This Financial Literacy helps you to escape any problem and helps you to get anything without working for that. The Poor and the middle class people work for money but the Rich People make money work for them.
This difference is because of financial literacy of the rich and poor. Let us all know this Financial Literacy through the Understanding of Assets and Liabilities to both Poor and Rich. The asset and liability of Rich People and Poor People are totally different. The Former Consider Asset as that owning which adds money to the pocket and Later Consider the asset whatever he owns .Similarly The Liability for Rich are All those things which takes money out of the pocket and For Poor Liability signs as anything for which he is liable.
Let us take an example to demonstrate the differences of perspectives of Rich and Poor for Asset and Liability holding. The Poor consider the House as Asset while the Rich consider it as Liability.
The Poor one claims of its ownership over the house and thus consider it as his asset, but the rich consider it a liability as it takes money out of pocket and adds nothing to the income. Thus for Rich Asset earns money and for poor it doesn’t.
So for an entrepreneur its prominent to Invest in those assets which generate money and goes on adding more to the income without any participation of entrepreneur. This Financial Knowledge brings a large change in the business growth and makes an ambitious entrepreneur a whole different from others and drags him/her out of the rat race and paves the way to prosperity and efficacious business.
P.s :All these notes and ways are insights from the below mentioned books, and every business aspirant is suggested to read these books ASAP.
Biblography:Rich dad Poor dad by Robert Kiyosaki
Zero to one by Peter Thiel with Blake masters
(The author a resident of Qazigund Anantnag is a student at the Department of Economics at Aligarh Muslim University. Views of the author are his own)