Thursday, August 05, 2010

Risk Management

There are many aspects of success in business. One aspect is mostly ignored by businessmen and pay for their ignorance. We hear success stories about great businessmen who took a huge risk, rather put everything they have on stake and made it larger than life. We rarely hear about the people who didn’t make it on the other side of the trench after taking their leap. I believe Success is not made in one day or in trade. But they are made in a period of time. "The heights by great men reached and kept were not attained by single flight, but they while their companions slept were toiling upwards in the night". Survival with a steady growth is the mantra for what is desire from our business. Now what is it that will make our survival possible, in the downs of our business or in our incorrect trades?
Risk Management is the key to this lock! Risk management is not only about taking the right trades, but knowing your capacity of making losses, take the blow of the losses in tune with your capacity and still surviving to take another trade and not being pushed out of the market arena. Knowledge will give you the figures but discipline will make you act on it. People are often lured to take high risk for high reward ignoring the fact of their own capacity and they end up broke. Taking trades with no desperation and accounting the facts of profit and risk ratio, is the key to the success.

Sunday, May 09, 2010

When do people give up?

Most of us must have been through the feeling of flying high, by just a hint of success, though success was at the other end of the tunnel. We start feeling successful and top of the world, before we enter the tunnel. Without understanding how dark and how claustrophobic the tunnel could be. This is mainly because of the ignorance and excitement that makes us blind to see the truth.

Ignorance will keep you high till you fall flat on your face and hurt yourself so bad that you will not have the nerve to stand back on your feet’s. When people with lack of right and complete knowledge wake up from their fall they get terrified by the darkness around them and forget about the brightness at the other end of the tunnel. Such people try to find others who have had same fate and waste their time in condemnation rather than finding light to guide them through such situations. Such people then will tend to defy the simple and the only law of nature that will put away the darkness and indulge in all other sources that will take their misery to the pinnacle, thus lead themselves to accept their defeat while they were half way or at the verge of success. What I see around me is that most people give up right at the doors of success; they lose hope and don’t knock the door.

Successful people are the people who see the silver line at the end of tunnel and this comes with the vision and vision comes with guidance of knowledge but not information. Difference between, is as thin as hair and I will try to explain it in my next article.

Labels:

Tuesday, July 14, 2009

Technical Analysis & Life

The fact that amazes me most about Technical Analysis is, that its fundamental are so simple yet functional, common yet unexplored and repetitive yet it teaches you something new every time. I find these things so similar in life, that it intrigues to the extent, that these fundamental are based on very own foundation of universe itself. Well if you have an in-depth look at both, you tend to thank god for his wisdom and his mercy. The fact that god has kept a balance in all things and the repetitive nature of history, made technical analysis possible in the first place. I believe that this balance and repetitive nature of the universe made our life easy. Farmers knows when to sow and reap, business men know which will be a lucrative business is in the following season ….. and so on. This Mercy of god is also a disgrace for some, as the good things repeat, so does the bad things. We tend to repeat our mistakes again and again…..

Success is hidden behind these mistakes. If we take the responsibility of our mistake, learn from it and not repeat them we can convert every mistake into success. Cause every mistake we make will increase our knowledge. With knowledge comes technique, and the courage to do the right thing at the right time. If we understand our life as we try to understand graph and try to narrow down our mistakes we will be successful in life and in our business of trading in Stocks.

Tuesday, June 26, 2007

Trait of Successful Entrepreneur

All of us who aspire to be an entrepreneur and most of all want to be successful in being one, wonder what is the “IT” factor in a successful entrepreneur that makes them stand out from the others? Let us see the qualities that make them successful in whatever they do.
· Intention.
Intention is the foundation of success in every aspect of life, leave alone entrepreneurship. Intention is not only knowing what you are doing but also the fact that 'WHY' are you doing a thing. It is the reason behind or the purpose for which one starts a business gives you a vision to move ahead.
· Visionary
Vision is the light that we require to look beyond what others can see. Like Mr. Gates had a vision of making computers- Personal computers.
· Conviction
Conviction is not just being confidant. It is the confidence that comes along with passion of knowing that your efforts are in right direction. This leads to consistency in your efforts. Like Mr. Murti had the conviction to lead Infosys from a small partnership firm to world Class Company.
· Knowledge
Knowledge gives you an upper hand over your competitors. To fall in love with your work you have to know what you are doing at the first place. Knowledge is not just knowing about your business, it also covers the facts about yourself, your positive and negative aspects in terms of business. Knowledge will inspire you to do R&D which is a must in today’s competitive market. Bajaj has taken major share of motorcycle market with introduction of DTSI.
· Innovative
Innovation is not just R&D it is the zeal to do something new in the market rather create a niche for yourself in the market. We can also say that innovation is doing same thing what others do with a difference. Like Mr. Bhatia with his innovative idea of Hotmail, brought India and its IT professionals on the international charts.
· Hard working
As they say hard work always pays. Rather only smart hard work pays. One should work hard in the right direction or else, hard work will lead you to place which you never even dreamt off.
· Risk taking ability
Risk taking ability comes with the seriousness of your intention and conviction that you have in your vision and your knowledge of your business that you have. This is a thing that is best if you have it as a god gift, it is difficult to develop.
· Luck
Luck is an important factor in all aspects of life, be it as personal as your married life or as public as business. There are soo many aspiring people who have right knowledge and all the right quality but they lack luck, so they always keep struggling.

Labels:

Friday, January 21, 2005

How does one create excellence in an organisation?

First, we create an obsession with excellence. We must dream of it not only because it delivers better results but because we truly believe in it and find it intrinsically satisfying to us.

We must think of excellence not only with our mind but also with our heart and soul. Let us look outside, at the global standards of excellence in quality, cost and delivery and let us not rest till we surpass them.

Second, we need to build a collective self-confidence. Organisations and people who pursue excellence are self-confident. This is because excellence requires tremendous faith in one's ability to do more and in a better way. Unless, we believe we can do better, we cannot.

Third, we must understand the difference between perfection for its own sake and excellence. Time is of essence. Globalisation has made the customer only more impatient. This may seem like a paradox: should we aim for excellence or should we aim for speed?

Excellence is about doing the best we can and speed lies in doing it quickly. These two concepts are not opposed to each other; in fact, speed and timeliness are important elements of quality and excellence.

Fourth, we must realise that we cannot be the best in everything we do. We must define what we are or would like to be best at and what someone else can do better.

Excellence is no longer about being the best in India. It is about being the best in the world. We have to define what our own core competencies are and what we can outsource to other leaders. Headaches shared are headaches divided.

Fifth, we must create processes that enable excellence. Today, there are a number of global methods and processes available whether it is Six Sigma, CMM or ISO. Use them because they are based on distilled wisdom collected from the best companies in the world.

Also, we must build a strong foundation of information technology, because in this complex, dynamic world, it is imperative that we use the most modern tools to keep processes updated.

Sixth, we must create a culture of teaming. I have found that while great individuals are important, one cannot have pockets of excellence. Quality gives ample opportunities to build a culture of teaming. Cross-functional teams that are customer facing can cut through an amazing amount of bureaucracy, personal empire building and silos and deliver savings that one would not have imagined possible.

The other advantage of building teams focussed on quality is that the teaming culture eventually spreads to the rest of the organisation and teaming becomes a way of life.

Seventh, invest in excellence for the future. Future always seems to be at a distance. But it comes upon you so suddenly that it catches you by surprise, if not shock. What constitutes excellence in the future will be significantly different from what it is today.

In these days of severe market pressures, there is big temptation to sacrifice the future to look good in the present. We must certainly trim our discretionary expenses, but we must ensure that our investments in strategic areas that lead to excellence in the future are protected.

Finally, excellence requires humility. This is especially needed when we feel we have reached the peak of excellence and there is nothing further we can do. We need an open mind to look at things in a different way and allow new inputs to come in.

Otherwise, there is a real danger of becoming complacent or even downright arrogant. I would like to end my talk with a story that illustrates this very well.

A brilliant young professor went to meet a famous Zen master to have a discussion with him on Zen. He found himself in front of a modest house. He rang the doorbell and waited. A while later, he heard shuffling footsteps and the door was opened by the Zen master.

He invited the professor to sit with him on the dining table. The professor was a little disappointed with the shabby appearance of the Zen master. He started quizzing him immediately on comparative philosophies and the Zen master gave some brief answers.

When the professor began to debate with him on those answers, the Zen master stopped speaking and kept smiling at him. Finally, the professor got angry. He said, "I have come from a long distance just to understand the relevance of Zenism. But apparently you have nothing to say. I have not learnt anything from you at all."

At this point, the Zen master asked the professor to have some tea. When the professor held the cup, the Zen master started pouring tea into it. After some time, the tea started spilling and the professor shouted, "Stop! The cup can contain no more."

The Zen Master stopped and then, once again smiling, he said, "A mind, full of itself can receive nothing. How can I speak to you of Zenism until you empty your mind to learn." The professor understood and apologized to the Zen master. He parted from him, the Zen master -- a wiser man.

The author is Chairman & Managing Director, Wipro Limited.

Wednesday, January 19, 2005

Corporate Lingo

Here's a little clarification of typical corporate lingo used in most of the offices.

  • Competitive salary:
    We remain competitive by paying less than our competitor.

  • Join our fast-paced company:
    We have no time to train and you'll have to introduce yourself to your co-workers.

  • Seeking enthusiastic, fun, hard working people:
    ......Who still live with their parents and won't mind our internship-level salaries.

  • Casual work atmosphere:
    We don't pay enough to expect that you'll dress up; well, a couple of the real daring guys wear ear rings.

  • Join our dynamic team:
    We all listen to nutty motivational tapes.

  • Must be deadline oriented:
    You'll be six months behind schedule on your first day.

  • Some overtime required:
    Some time each night some time each weekend.

  • Duties will vary:
    Anyone in the office can boss you around.

  • Must have an eye for detail:
    We have no quality control.

  • College degree preferred:
    Unless you wasted those four years studying something useless like Philosophy or English.

  • No phone calls please:
    We've filled the job; our call for resume is just a legal formality.

  • Seeking candidates with a wide variety of experience:
    You'll need to replace three people who just left.

  • Problem-solving skills a must:
    You're walking into a company in perpetual chaos.

Sweet Yet Sad

She was not beautiful,
Nothing about her was extraordinary,
Nothing about her made her stand out in a crowd. She grew up in a family of six and being the eldest she learned responsibility at an early age.
As she grew stronger and brighter, she instilled a sort of light and cheer to whomever she met She was not beautiful, but she made others feel better about themselves.
She meets a rebel boy who thinks he is all man ..... befriending him, she teaches him.
She teaches him how to read and a little boost, the ' man' needed to go to college. They become fast friends and she fell fast in love with her rugged handsome student. The ' man' then finds himself in love with a girl. A girl who was so beautiful, her hair was a hallow of light around her, eyes the bluest blue of the ocean ' Like an angel' he tells his tutor ' like a beautiful angel.' The girl swallows a lump at her throat She was not beautiful, she did not posses the heart of the one he loved, but she did not care. As long as he was happy, she would be happy, or so she tried to. She helped write the most beautiful letters to his angel, all the time visioning it was she herself receiving those very letters and so the girl helped him choose the right clothes, say the right words and buy the right gifts for his angel. His angel brought him much joy and much pain to the girl who cried behind her smiles but that never stopped her from giving more than she will ever receive. Then one day, all of h--- broke loose The angel he loved left him for another man. A richer more successful man. The boy was stunned. He was so hurt, he did not speak for days. The girl went to him, he cried on her shoulder and she cried with him. He was hurt and she was too.
Time went by and so wounds heal The boy realizes something about his friend/tutor something he never realized before.... How her laughter sounded heavenly and how her smiles brightened up the darkest days or how simply beautiful she looked to him, Beautiful! This plain, simple girl was beautiful to him And he began to fall. Fall so in love with this beautiful girl On one day, he picked up all his courage to see her He walked to her house, nervous, and fidgeting, Running his thoughts over and over his head. He was going to tell her how beautiful she was to him. He was going to tell her how wonderfully in love he was with her. He knocked. No one was home. The next day, he found out that the beautiful girl he fell in love with had a brain tumor that put her into a coma. The doctors were grim and the family decided to let her go. One final time he got to see her He held her hand, stroked her hair and then he cried for this beautiful girl. He cried, but it was too late. The beautiful girl was buried and the heavens broke. Out a beautiful spring shower, a cry for their loss. She was the most beautiful girl in the world and she had taught the rebel boy-man to love and what it is to be loved. She was the most beautiful girl in the world. Look around. Isn't there a lot of plain faces? .

Desiderata

Go placidly amid the noise and the hast,
and remember what peace there may be in silence.
As far as possible without surrender be on good term with all person...
Enjoy your achievements as well as your plans.
Keep interested in your own career, however humble; it is a real possession in the changing fortunes of time.....
Take kindly the counsel of the years,
gracefully surrendering the things of youth.
Nurture strength of spirit to shield you in sudden misfortune. But do not distress yourself with imagining.
Manny fears are born of fatigue and loneliness.
Beyond a wholesome discipline, be gentle with yourself.
Your a child of the universe no less that the trees and the stars; you have the right to be here.
And whether or not it is clear to you,
no doubt the universe is unfolding as it should.
Therefore be at peace with God,
And whatever your labor and aspirations,
in the noisy confusion of life Keep peace with your soul.
With all its sham, drudgery and broken dreams, it is still a beautiful world.
BE CHEERFUL. STRIVE TO BE HAPPY