Mad About
Money
H
e then uses his constant income to purchase
an urban space on the twenty second floor
of a building in Mumbai which he divides in
half to rent out to a restaurant and set up a
recreational centre for an ageing population.
What you just read about is the dream life of a millennial
in 2030. This is also the way wealth is created, retained
and multiplied; by exploiting all opportunities that appear
with changing times.
THE POLE STAR OF THE
CORPORATE WORLD: HOW DO
ENTREPRENEURS
STAY RICH?
As technology changes the way we do things, it is
essential to re-skill. This re-Skilling should not be merely
about learning to code for big data or consulting, which
are going to be base level requirements for most jobs of
the future. Ever noticed how some people do not work, but stay
rich? One word answer to how that happens: Financial
markets. They have been around since the first
entrepreneur invested money in the first ship that sailed
from Europe to explore the world for commodities that
could be sold in the home market for a huge profit.
MONEY
Re-Skilling for the ones aiming to be rich involves
learning to identify opportunities, embracing failures,
moving on, starting again and walking through the maze
of challenges of a changing society to get rich.
Ambition has to be navigated using the pole star of
the corporate world: money. Once you have reached
your destination to stay profitable; navigate faster. In a
changing world, it is paramount that you embrace all
opportunities that come your way. If Elon Musk had
continued working for PayPal, the explosive entry of
SpaceX and disruptive forces of Tesla would have never
happened. Intelligent navigation through the stormy
waters of business involves being an adept captain:
The fixed deposits, treasury bills, National savings
schemes, IPOs, ETFs, derivatives, futures, bonds, mutual
funds, pension schemes; these are a part of the financial
market. The intimidating jargon is only so in appearance.
It works fairly simply: recently the futures of Coriander
on an Indian stock exchange regained value in the wake
of demand for premium Coriander in foreign market.
Coriander is a part of the commodity market. Had
you purchased a future of coriander for six thousand
rupees last sowing season, you would earn rupees nine
thousand from it this month.
The vision is as important as the model. Did you know the savings interest rate that you gain
when your money lies idle in the bank is a derivative of
the manner in which financial markets operate?
A talented employee is your best investment. Three things you require to stay rich:
Break-even should not elusive forever. Hawkish eye (which is a trait acquired by experience)
You are the golden asset for your bus iness. Listen to
the market, listen to your employees (look at them like
consumers of your product) and rely on data. Data is
called the ‘new oil’ for a reason. Risk appetite: Idle wealth is worthless in practice
Never ever ignore an opportunity to expand.
But navigate using the pole star only!
Awareness of the limits to your risk appetite
Once you have mastered the above mentioned mantras
of ‘wealth awareness’, get on and sail on the ship to
explore the treasures that lay hidden in the sea of
constant change! Bon Voyage!
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