The Art called ‘Entrepreneurship’

My style of managing business is quite simple and straight forward. I aim very high, and then just keep myself pushing and pushing and pushing hard to get what I want. Sometimes I settle for less than I sought, but in most cases I still end up with what I want.

More than anything else, I think Entrepreneurship is an ability everyone is born with. It is in the genes. It is not about being brilliant. It does take a certain intelligence, but mostly it's about instincts. You can take the smartest student at IIM, the one who gets straight A's and has a 180 IQ, and if he doesn't have the instincts, he will never be a successful entrepreneur.

Most people who do have the instincts will never recognize that they do, because they don't have the courage or the good fortune to discover their potential. In this article I am going to share some of the certain common elements which I found in all of my success. But unlike the Entrepreneurship Evangelists you see and read all over these days, I can't promise you that by following the percepts I'm about to offer will make you a millionaire overnight. Life rarely works that way, and most people who try to get rich quick end up going broke instead.

For those among you who do have the genes, who do have the instincts and who could be highly successful, I hope you won't follow my advice. Because that would just make it a much tougher world for me.

Think Big

I like thinking Big. I always have. It's part of my unconscious thought process. To me it's very simple: IF YOU ARE GOING TO THINK ANYWAY, YOU CAN MIGHT AS WELL THINK BIG. Most people think small, because most people are afraid of success, afraid of making decisions, afraid of winning. And that gives people like me a great advantage.

I am never satisfied with, 'just to earn a good living'. One of the key to thinking big is total focus. I think of it almost as a controlled neurosis, which is a quality I've noticed in many highly successful entrepreneurs. They are obsessive, they are driven, they are single minded and sometimes they are almost maniacal, but it's all channeled into their work. Where other people are paralyzed by neurosis, the people I'm talking about are actually helped by it.

I don't say this trait leads to a happier life, or a better life, but it's great when it comes to getting what you want. This is particularly true when you have to deal with some of the sharpest, toughest and most vicious people in the nation. I love to go up against these guys, and I love to beat them.

Protect the Downside and the Upside will take care of Itself

I have always believed in positive thinking but at the same time I also believe in negative thinking. I always negotiate anticipating the worst. If you plan for the worst - if you can live with the worst – the good will take care of itself. A man can be sized up within a minute just by observing how he manages the downside, how he reacts to the adversities in life. And if he manages it skillfully, cheerfully and industriously then the favorable circumstances are bound to follow.

Maximize your Options

I always protect myself by being flexible. I never get too attached to one approach. I keep a lot of balls in the air, because most promises fall out, no matter how promising they seem at first. Once I have negotiated, I come with half dozen approaches to make it work, because anything can happen, even to the best laid plan.

Know your Market

Some people have the sense of the market and some do not. Entrepreneur should know what the public wants and he should exactly deliver that. I like to think I have that instinct and so I do not follow the advice of various number-crunchers. I believe in doing my own survey and drawing my own conclusions. I also have a habit of asking everyone for an opinion before I make a decision. It's a natural reflex.

Whenever I go to a new place and hire a taxi then I always make it a point to ask the taxi driver questions. I ask and ask and ask, until I begin to get a gut feeling about something. And that's when I make a decision. I always follow my own instincts, but I'm not going to kid you: it's also nice to get good reviews.

Use Your Leverage

For those who heard the word 'Leverage' for the first time; I would suggest you to read my previous post to get yourself familiar with this word and then proceed. The best thing you can do is deal with strength, and leverage is the biggest strength you can have. Leverage is having something before your opponent wants.

Leverage: Don't make deals without it.

Enhance your Location

Here I would like to share the most crucial point relating to my favourite subject i.e. REAL ESTATE.

Perhaps the most misunderstood concept in all of Real Estate is that the key to success is location. Usually, that's said by people who don't know what they're talking about.

First of all, you don't necessarily need the best location. What you need is the best deal. Just as you can create, leverage, you can enhance a location through promotion and through psychology. Location has a lot to do with fashion. You can take a mediocre location and turn it into something considerably better just by attracting the right people.

My point is that the real money is not made in real estate by spending heavily to buy the best location. You can get killed doing that, just as you can get killed buying a bad location, even for a low price. What you should never do is pay too much, even if that means walking away from a very good site.

In order to enhance the location you need to generate interest, excitement. Hire some public relation people and pay adequately. Sometimes it may require playing to people's fantasies. A little hyperbole never hurts. It's an innocent form of exaggeration – and a very effective form of promotion.

But remember, you cannot con people, at least not for long. You can create excitement, you can do wonderful promotion and get all kinds of press and you can throw in a little hyperbole. But if you don't deliver the goods, people will eventually catch on. Result always talks in the end.

Control over the Cost

I believe in spending what you have to. But I also believe in not spending more than you should. I too learned the lesson of being Cost Conscious very late. Every rupee counts. The point is that you can dream big dreams, but they will never amount to much if you can't turn them into reality at a reasonable cost.

One of the essential factor for cost control is strong focus. Even small jobs can get out of control if you're not attentive.

Have Fun

I don't kid myself. Life is very fragile, and success doesn't change that. Anything success does is, makes life more fragile. Anything can change without warning and that is why I try not to take any of what's happened too seriously. Money and Academic scores has never been a big motivation for me, except as a way to keep score. I don't spend a lot of time worrying about what I should have done differently, or what is going to happen next.

So, leverage your present time to its highest limit and have fun.

Thank You.

 Chandan Mundhra,

India

Five national myths and the reality !!!

1. India is a poor nation! White Lie!


Fact: India is the most powerful and richest nation in the world!


This is a very big truth that people of most of the developed countries are weak but their leadership or law is very strong. Here, the people of the nation are strong but the leadership is cowardly, timid and corrupt and the law is weak. The total budget of local authorities, state governments and central government of India is Rs 20 lakh crore. And this Rs 20 lakh crore budget is there when corruption is in its peak everywhere in the nation. If corruption did not exist, the total budget of India could be Rs 35-40 lakh crore. You think, you decide, can the budget of a poor nation be so huge? The corrupt and dishonest people of the nation are intentionally portraying the nation poor.


If the corruption, then not even one person in the country will remain unemployed or poor. People are kept unemployed, poor and illiterate as a conspiracy. This enables the corrupt administrators rule over the poor, unemployed, illiterate and insecure people according to their whims and run an autocracy in the name of democracy.


2. Only about 5% of India’s people pay tax! White Lie!


Fact: Almost 100% people pay tax in India!


Every Indian who puts on two garments to cover his body and uses 1-2 bars of soap in the year or wears shoes or sandals or goes to shops or the market and buys daily essential goods such as flour, salt, toothpaste, oil, spices, paper, pen, iron, cement, etc., pays duty in the form of VAT or excise on all these items.


Even a common man definitely pays tax in one way or the other such as stamp duty, water tax, house tax, sewage tax, road tax, service tax, sale tax, etc. Thus, isn’t this a white lie that only 5% people pay tax! This myths and false rumours are spread in a conspiracy so that if some corrupt and dishonest people rob the nation, then no voice is raised, so that when someone asks for an account of the tax money paid by these corrupt people, they are able to say, ‘You do not even pay tax. Who are you to ask?’


This myth has been so deeply embedded in the hearts of the common people that they feel they do not have any contribution at all in the nation’s progress. While the truth is that each Indian has the right to ask the various systems of the nation, the authority of the nation, about the collected by the government through various taxes, money of the money that they have contributed for the progress of the nation. They have the right to ask, ‘What has happened to that money?’


3. All people are dishonest! The biggest conspiracy.


Fact: In India, 99% of the common people are honest, or they want to live with honesty!


This kind of lie that everyone is dishonest is spread because the illusion that everyone is dishonest becomes deeply engraved in the mind of a patriotic, honest person with character. Whereas the reality is that 99% of common Indians are honest or want to live with honesty while 99% of the representatives of the nation, that is almost 99% of the politicians, MPs, MLAs were dishonest.


In order to hide their own dishonesty, these 99% corrupt and dishonest people have carried out this very big conspiracy by calling the 99% honest citizens of the nation dishonest and liars. The day these 99% sensitive, aware, patriotic and honest people unite together, these 1% dishonest people will be destroyed. And India will be called a nation of honest people, not dishonest people.


4. Corruption can never be removed, only corruption will rule the nation! Deep conspiracy!


Resolution: Only honest, patriotic people will govern the nation!


Only corrupt people will govern the nation. Even this lie is being told like a conspiracy with which honest, patriotic people are never able to come into authority and one corrupt person after the other sit in authority and mercilessly loot the nation. There are also honest, patriotic, educated and responsible people with character who are capable of excellently governing the nation without corruption.


A simple question arises in everyone’s minds – is it possible for good people with character to get together? Can patriots be given votes keeping patriotism above everything else? Can’t honest people become MPS, MLAs? The direct, complete and simple answer to this is there are patriotic people with character who are capable of leading the nation but the patriotic, honest people who would vote for them and bring them into power are not organized.


Our aim is to organize these patriotic people and by organizing them to bring patriotic, honest, sensitive, sincere people with character to the seat of authority. By organizing patriotic people, I will unveil the truth behind the myth that only corrupt people can rule over the nation. My resolution is that henceforth only patriotic people will govern the nation.


5. The nation’s progress and employment is not possible without foreign investment! Utter falsehood.


Fact: If resources are 100% utilized then our nation will progress and there will not be any unemployment!


This is also a projected lie in order to rob the nation and a conspiracy that without foreign investment our country will not progress. The truth is if the wealth of the nation is not destroyed by corruption is big enough to ensure that not even one person of the nation need not be hungry, poor or unemployed.


If the wealth is not deposited in the hands of the dishonest people, and is invested in solid business and progress then there will be so much wealth coming into the nation that we will reach the status of being able to loan out money to other nations with interest. India will then be able to stand with pride as the biggest economic power in the world.


Today the reality is that about Rs 70 lakh crores, money that has been stolen by some corrupt people, is deposited in foreign banks. And the corruption by the corrupt people continues. Reality is not that this country won’t be able to progress without foreign direct investment (FDI); truth is the day we bring back our stolen money from foreign banks, that day the world will not run. The world is running by our money stolen by corrupt, dishonest people. At the very least, the economic source of powerful nations like Switzerland comes from the corruption in our country.






-

Ultra Rich Organisation, India

Think Sharp, Work Smart (The Compendium)

1. Put Yourself Out There

If You Don't Do Something...Nothing Good Will Ever Happen

At eight years old, Cameron Johnson saw the movie Home Alone 2: Lost in New York. A great deal of the movie had been filmed at the Plaza Hotel owned by Donald Trump in New York City. After seeing the movie, he struck up a deal with his dad. The deal included a trade of straight A's for a trip to New York with a stay at the Plaza Hotel.

Without his parents knowing, Cameron wrote Donald Trump to tell him he would be coming to Manhattan. He did not get a response in the mail, however, Donald had a surprise for Cameron when they arrived at the Plaza – a stay in the same room the movie was filmed and an exclusive shopping spree at FAO Schwartz. If Cameron never would have put himself out there by writing that letter to Trump then he would have missed out on this once in a lifetime experience. You have to put yourself out there!

2. Do What You Love

You Have to Love What You Do So Much That You Would Almost Do It For Free

Few succeed as an entrepreneur if they are not passionate about what they do. In fact, Bob Proctor says that "You really have to be passionate and love your idea. It has to really wind your stem." You will never get through the difficult times in business, unless what you are doing is truly your heart, your passion, your love and there is nothing else you would rather do. The good news is that although you love it so much you'd do it for free...you don't have to. Make money doing what you love and you will be successful.

3. You Don't Have to Invent Anything

As an Entrepreneur You don't Have to be an Inventor - Rather Transform Something That Exists to Be What Some People Want

Dr. Farrah Gray became a millionaire marketing his grandmother's maple syrup recipe. Did he invent maple syrup...no! Did he have something people wanted...YES! There is no reason to reinvent the wheel.

It's like two children selling lemonade... One stand is selling sugar free lemonade and the other strawberry-infused. Although their both selling lemonade, they have transformed it to be unique to them and to their customers wants.

4. Beat Overwhelm With Focus

Don't Think of the Thousands of Steps You Have to Take... Focus on What You Need to Do Today

Few entrepreneurs start out with a clear and precise road map to success, so it's easy to understand how you can become overwhelmed quickly. Self made multi millionaire, Apprentice and YES Movie cast member Andrea Lake was in that boat when she started one of 5 successful companies.

She didn't have a clear plan other than she wanted to sell shirts... Andrea tackled the overwhelm and self doubt by only focusing on what she had to do on each given day to reach her goal.

5. Find Mentors

Who You Surround Yourself with Can Make Or Break You

Ephren W. Taylor II discovered the importance of mentors and who you keep company while still in high school. As a 17 year old working on what would become a multimillion dollar venture, Ephren was repeatedly told no, because he didn't have his own credibility. Aligning himself with strategic partners and mentors, Ephren had the opportunity to use the credibility of his mentors to gain financial backing. Your mom always told you to be careful who you hang out with...turns out she's right!

Regards,

Chandan Mundhra

Ultra Rich Organisation

India

The Top 7 Signs of Self-Sabotaging Behaviors (and what to do about them)

Having trouble reaching all your goals? Are you going for what you want, but feeling like something is road-blocking the way? Are you finding yourself “not” doing some of the things you know you should be doing? You may be a victim of sabotage---self-sabotage. How do you know, and what can you do about it? Read on and see.

1. Focusing on what is not working, not right or missing from your life...

Problem: Notice how often you speak about and think about what is not working, not right, or missing from your life. This only attracts more of the things you don’t want.

Action: Ask yourself a new question: "What's going right?" or "What IS working?" Begin to notice all the things, no matter how small, that are working well. Keep an evidence journal and each day write down everything, I do mean everything, that is working and you will attract more of what is working!

2. Being stuck in fear...

Problem: Do you worry a lot about the future and what is going to happen or might happen? Are you thinking about your fears so much that you are paralyzed and take no action because of fear of what might occur?

Action: It is time to put your focus on the present. We can't control or predict the future or other people's behaviors. All we can control is our own, right here, right now. Ask yourself the question "What is the worst thing that could happen?" Then, let go and know that rarely do the scenarios we create in our heads occur. Take a moment to put things into perspective by writing down the things you cannot change, the things you want to change, and accept that the Universe, God, Spirit, whatever you call it will take of the rest. It always does!

3. Feeling you have no value...

Problem: Do you forget all your accomplishments and lack pride in who you are and what you have accomplished? If you obsess about the past or your lack of success or lack of achievement, then you'll be stuck in noticing how much you lack as a person. If you often criticize yourself or can't accept compliments, it’s a definite sign that you have fallen into this trap.

Action: You can choose to notice what you do that is good and the things you can be proud of, no matter how small they may seem. Each day keep a log of what you are grateful for about YOU. When you hear your mind chattering about what you haven't done right or well, turn down the volume and turn up the volume to hear the voice that knows the TRUTH about who you are and how you add value to the world. Acknowledge yourself for at least 5 things each and every day that you did well. Each day, compliment yourself on something you did that you feel good about. Notice your small successes and accept the compliments others give you.

4. Comparing yourself to others...

Problem: Do you constantly compare yourself to others and then feel badly when compared to them? Comparison doesn't motivate us to do more or be better, instead it makes us feel we'll never be good enough and we aren't right now.

Action: Write out the 5 qualities you like best about yourself. Then write out what you value most in your life. When you go to a place of comparison, notice how similar you are with the other person vs. what is different. Begin to create a list of adjectives that describe you - at least 25 positive words about your greatness. Whenever you notice yourself in a comparison mode, think of some of the adjectives that describe YOU.

5. Self-Sabotage – getting what you want and then losing it...

Problem: Do you not believe that you deserve to have what you want? When you get what you want, why do you often lose it or mess it up? What is the true story underneath - maybe that you think aren't good enough to have it?

Action: List all the things you have accomplished that faded away. Simply notice these things, but don’t place any judgment on the fact they disappeared. How did they bring you satisfaction? How did they make you feel? What is the limiting belief that you have that tells you inside why you can't have what you want? Be quiet, be still and listen to it. Write down how you felt when you had what you wanted. Write down how you feel now, without it. Then write a "bridge belief": A very, very small belief that feels a little bit better than what you now feel. Each week, create a new bridge belief, not matter how small, that you can really believe. By using these bridges as stepping-stones, you'll shift your limiting beliefs slowly and be on the other side of the bridge and able to maintain it because you will have a new belief inside of you.

6. You chase away relationships...

Problem: Do you always feel something is missing in your relationships or find fault with the other person? Perhaps you are afraid of intimacy. Underneath this is usually a fear of abandonment or exposure that causes you to distance yourself from others.

Action: Create a list of the qualities you value in a relationship and the qualities you want to attract in your partners. Express what you want and don't want to the other person and allow them to express the same to you. Create time to acknowledge the other person on a regular basis. Notice when you feel afraid. Don't try to push the feelings away. Know that the feelings are there and that is fine. Then, in that moment, focus on what feels good about the relationship.

7. Having no purpose...

Problem: Do you feel you have no purpose in life? We all have some purpose for being on the planet and it is time to notice yours.

Action: Write down all the things that are important to you – the thing you want to create in your life. Then write out what you want to contribute to the world. From your writing, create a statement of purpose for yourself that you can read each and every day. Then stop worrying about not knowing your purpose and start creating what you desire now. It doesn’t matter what you want in the future. So start creating something you want in your life NOW. This action will ultimately put you in alignment and bring you closer to your overall purpose.

Chandan Mundhra,

Chairman & President

Ultra Rich Organisation

LEVERAGE: QUINTESSENCE OF THRIVING BUSINESS SYSTEM

The Global economic recession and the expanding gap between the rich and the poor, made me concerned about it. And, I began digging deep into the matter, searching for 'Why'? After reading various articles, books, magazines, blogs etc. of many successful entrepreneurs, I came across a very common word "LEVERAGE". It would be quite familiar to you if you are a student of Finance. Yet, only just being familiar with it is not enough. Even though it occupies a substantial space in financial jargon, it forms a part of any rapidly expanding field. Finally, what I found that any person no matter of which country or profession may be, who is still doing better in this economy has understood this word and also know the way put it into use.

In the broad definition of the word, the word Leverage simply means the ability to do more with less. It can be broken down into two parts: lever-age, which means the age of getting work done through lever. When it comes to the subject of work, money and leverage, if you want to become rich, you need to work less and earn more. In order to do that, you employ some form of leverage. People who only work hard have limited leverage. If you are working hard physically and not getting ahead financially, then you are probably someone else's leverage.

If you have money sitting in the bank in your saving account or your retirement account, then others are using your money as your leverage. Leverage can be illustrated by a simple diagram below:

Person without leverage:

Person with Leverage:

Human have gained more of an advantage over animals simply because humans naturally seek more and more leverage. In the beginning, animals could run faster than humans, but today humans can travel faster and further than animals because they created tools of leverage, such as bicycles, bikes, cars, trucks, trains, planes etc. In the beginning birds could fly and humans could not. Today, humans fly higher, further and faster than any bird.

Leverage is Power

Animals tend to use their God-given leverage and are generally not capable of gaining any more leverage. That is why animals eventually lost their natural advantages over humans and humans took over the planet. The same thing happens when some humans are more leveraged than others humans. People with leverage have dominance over people with less advantage.

As humans gained advantage over animals by creating leveraged tools, similarly, humans who use these tools of leverage have more power over humans that do not. Boiling down to a single sentence "Leverage is power".

A bird utilizes its God given leverage as its unique leverage. Humans observed birds in flight, and then used their minds to discover how humans could also fly. A person who can fly from Bombay to Dubai has greater leverage over a human who only has a rowboat to get across the Arabian. Average people use fewer leverage tools than exceptional people. If you want to be rich and keep up with the rich, you need to understand the power of leverage.

We are fortunate to have more leveraged tools with an easy access and also at reasonable price, such as computer, internet, mobiles, cameras etc. The humans who can adapt to use these tools of leverage are the humans who are getting ahead. People who are not learning to use more and more tools of leverage are falling behind financially and working harder and harder just to keep up. If you are getting up and going to work only to earn money rather than working to gain some leveraged advantage in life, the chances are you are failing behind today. Never in history of the world have so many tools of leverage been invented in such a short period of time. The people who use these tools get ahead and people who do not fall behind just as the animals did.

People without Leverage work for those with Leverage

Throughout history, the people who have fallen behind are the people who fail to utilize the new tools of leverage created during their lifetime. And the people who fail to use these leveraged tools are the people who work for the people who do, and they physically work harder than the people who use the tools of leverage.

Just as we have more choices when it comes to types of transportation leverage, we have more choices when it comes to types of financial leverages we can use. The people who utilize the more leveraged financial tools get ahead financially. People who use obsolete, out-of-date, or inadequate tools of financial leverage put their financial security and financial future at risk. Today millions of people are utilizing the financial tool known as Mutual Fund to prepare for their retirement. While mutual funds are by no means obsolete, they are not the leveraged financial tools of choice of the more educated investor. If people want to retire young and retire rich then they may need to supplement their mutual funds with faster, safer, and more information-rich tools of financial Leverage.

But, finally remember to most powerful leverage available to human being since the beginning of human race and will last till its end is, Human Brain. It was, is and will be the most powerful lever irrespective of the technological advancement. So, never under estimate the power of your brain, keep adding valuable information to it and never sell it short dealing with trivialities.

Thank You.

CA Chandan Mundhra

India

LEVERAGE: A WORD THAT MADE ME TRILLIONAIRE

You now know the importance of systems and their impact on customer service, staff skills and added value. I described this effect as a kind of leverage. It's important to realize that there are many other forms of leverage, and the word itself is used in many different ways. Financiers, for example, consider leverage to be the use of loan moneys to buy shares in a business, or other assets, that will give a greater return on the money borrowed than the rate of interest charged—thus making a profit. But leverage has a wider meaning when we use it to refer to less obvious assets in a business—such as time, marketing and systems.

How do we use leverage in these areas to become rich? Everybody has the same 24 hours in a day. Yet some people manage to earn an enormous amount and become very rich by using leverage well. They do this by leveraging themselves in every aspect of their lives. They make their time, their money, their marketing and their systems all work for them, so they get more out of each. Leveraging is about duplicating a high-value item or skill at a much lower cost.

Time leveraging

Let me give you a simple example of time leveraging. If you sell your time at, say, Rs. 1,000 per hour and you work 12 hours per day, the maximum you can earn is Rs. 12,000 per day—not bad money. But what if you were able to teach less skilled people to do what you do and pay them Rs. 500 an hour instead of Rs. 1,000? You can do this by providing them with easy systems and procedures you have developed.

Just having one person working your system, you are making Rs.6,000 per day which is less than before. But now you can spend your time—say, 12 hours a day—selling their time. For example, if you sold four of those people's time at Rs. 1,000 per hour (because they are producing Rs. 1,000 per hour worth of work) and still paid them only Rs. 500 per hour, you'd be making Rs. 24,000 profit per day (4 X Rs. 6,000). You have leveraged yourself from earning Rs. 1,000 per hour to Rs. 2,000 per hour, while working the same number of hours.

This is a basic point, but one that's critical if you want to be rich. Selling your own time will never make you rich. You must always develop systems and use someone else's time to produce something you can sell at a higher price.

Marketing leverage

Here's a different example of leverage. If you are running an advertisement in a newspaper and, on average, that advert brings you ten sales at Rs. 1,000 per sale that is Rs. 10,000 in total sales. If, however, you change the appeal of the advertisement with a great USP(Unique Selling Process) headline, and get 18 sales per advertisement, you have leveraged this advert by Rs. 8,000. You are now receiving a much bigger reward for the same cost.

This is an example of marketing leverage. There are many others. For example, if your salespeople are converting one out of five leads into a sale, and through training and systems this increases to two out of five, you double your sales. And that comes with a small additional cost. If you send out direct mail, change your offer and get a 30 per cent better response, this is also a form of marketing leverage you can work on.

Systems leverage

Systems are a great way of leveraging too. As we know, systems are an essential way of making highly skilled or repetitive, high-cost processes easy and simple — allowing you to offer high-value products or services at a much lower cost. This is what a good business allows you to do. What all this means is: the more you refine or work on your manufacturing, production, selling and marketing systems, the more leverage you will have, and the more money you will make in your business.

Take a look at the most successful people and businesses you can find. Dissect how they operate in each and every case. I guarantee that you will find they are highly leveraged in their finances, time, marketing or production processes. Take McDonald's as an example again. What do you find? I don't know about their finances, but everything else they do is about getting the most out of the least effort, from leveraged production to leveraged marketing that they're constantly testing and improving.

FOCUS ON MONEY MAKING ACTIVITIES AND DELEGATE TO OTHERS

As you get to understand Leverage in your business, it will become clearer that you should do the things only you can do. You must rely on your systems to help others do the rest. If a business isn't a success, often it's because owners and managers forget to focus on only doing the things that make the most difference and delegate the rest.

When you own or operate a business, especially a small business, you have many responsibilities and many chores. In this situation the golden rule is: never do anything you can pay someone else less money to do. In business you should never spend your time doing anything other than the highly skilled work of developing and refining your systems, or generating revenue through sales and marketing systems.

Focusing solely on these two activities (sales and marketing) is what will make you the money you are seeking. Why? Because these are the two most highly leveraged things you can do with your time. By doing that you are making your business earn your income, rather than you selling your time. It's financial lunacy to do any work when you can get someone else to do it for less than you can earn elsewhere.

You might think you're saving money by doing some typing or going to the bank, but believe me, it's false economy and it's actually costing you much, much more because you are losing possible profits. It is foolish to think you can't afford it. I know this may be difficult to do, especially when starting out in business, or when finance is tight. But you mustn't get caught in the trap of trying to do it all yourself and thinking you are saving money.

HAVE FREEDOM AND STILL BE IN BUSINESS

Only time, money and marketing leverage will give you the freedom you sought when you first started in business. With leverage you can build your business and then step back and let it run itself. But in doing that, you won't be backing away from the business itself. You must keep an eye on systems, keep an eye on marketing and keep an eye on all the business—but through the work you have done on your systems, you'll have the time to do what you want as well.

PROBLEMS WILL HAPPEN—BUT ONLY ONCE

One of the most important elements of your business systems is how you change them. We've seen how the world, the economy and your customers are changing— your systems have to be able to adapt to match those changes. As part of your systems you should build in a process for updating them. Continuous improvement or constant feedback ensures whenever a system doesn't perform adequately it's recorded, considered and fixed.

It's the same when a problem appears for the first time. If your systems record what the problem was, and why it happened, you can create procedures, or deliver training to make sure it doesn't happen again. That's the sort of thing that makes your service extraordinary.

COMPLAINTS ARE A GOLDMINE

I'm in a superannuation fund that sends me regular reports on my investment. After the first year of receiving reports I couldn't understand, I wrote them a letter explaining that I simply couldn't work out what they were saying. Two days later I got a letter thanking me for my contribution and letting me know they were already redesigning the statement. When I got the new statement a month later, it was great.

What happened here is that this insurance company listened to customer complaints and improved their business. Now I know I wasn't the only complainant. But the fact that they listened meant they had information they didn't have before.

Customer complaints are the perfect way of gathering information. It's cheap, you don't have to search for the information, and it immediately points out where you can do better. All you have to do is set up a system to record and act on those complaints. Tie it in with your continuous improvement system. Display the complaints to all your staff. Even inform your customers in a newsletter of what complaints you've received, and how you fixed them. But never let a complaint go by without responding to it and benefiting from it.

FOUR CRITICAL ADVANTAGES YOUR COMPETITORS CAN NEVER HAVE !

If all the traditional competitive advantages have evaporated, what can you possibly do to get and stay ahead? Today, and into the next century, you need to recognize that in order to compete effectively you have four, and only four, sustainable competitive advantages left. Ones that can never be bettered by your competitors—if you protect and nourish them. They are:

1. Your Knowledge.
2. Your Marketing.
3. Your People.
4. Your Systems.
These advantages are the essence of a thriving business. It’s divided into sections that deal specifically with issues critical to building wealth and success in each of these four areas.


1. Your Knowledge (You)

Your personal knowledge is the bedrock of anything you want to achieve. The knowledge you have and you gain is what distinguishes you from everybody else. You must recognize that the rich, who earn possibly 100 times more than you do, aren’t 100 times smarter, and don’t work 100 times harder. They just know more—they know the rules of business and making money. And they are always willing to learn more.

How powerful is knowledge?

Let’s use an example. Say you were driving along at 100 km per hour and you knew something nobody else on the road knew—that there was a speed trap waiting round the next bend. Wouldn’t that information be useful (and worth money) to you? What if you knew that there was a broken- down truck blocking the road, one that could cause a fatal crash at that speed? Wouldn’t that knowledge be critical to you? What if you knew in advance the winning horse in tomorrow’s race? Or what next week’s Lotto numbers might be?

How much would this knowledge be worth to you?

Knowledge is a very powerful thing for those that possess it. Rich people know this, and are aware of the continuing need to learn as much as they can to allow them to maximize their opportunities and to minimize their mistakes. This knowledge, which the rich constantly build on, extends to other areas—like knowing and acting with the right values. The rich not only gather the facts; they have. And follow strong personal values that lead to success. Values such as passion, commitment, focus, persistence and honesty. These, too, underlie the important difference between the truly successful and all the rest.


2. Your Marketing

Marketing is your second critical advantage. Marketing is the machine that drives your business. Good products can fail, and yet second-rate products will monopolize a market. Why? Because of the power of marketing.
Good marketing brings people to your door—people who are happy to part with their money and exchange for your products or services. Marketing is the key function that can quickly make or break any business. And because of this power of marketing, it is too important to overlook or delegate: it’s something you must understand for yourself.

The reason great marketing will give you a sustainable competitive advantage is because it’s an aspect of your business your competitors just cannot copy. Not many people realize this.

Unfortunately, much marketing is wasted. You’re probably paying the price right now, by underutilizing this important part of your business. Badly managed marketing is the single biggest waste of money you will ever experience, and one of the single biggest frustrations and causes of failure.

Most of us somehow continue to accept less-than-acceptable rates of return on our marketing money. Or we throw up our hands at its ineffectiveness and stop using it at all. That is the most fatal of all business mistakes!

Let me give you an example of what I mean. Take two advertisements costing exactly the same amount. They can pull a hugely different number of customers and profits. A simple difference in one ad can make tens of thousands of rupees’ difference a day, a week or a month to your business—depending, of course, on your business. And that’s only looking at one part of your marketing strategy. Marketing that is used well is rare, yet so powerful when it is!

What impact does this advantage have on your business? Simply put, you can be five, 10 or 50 times more successful than your competitors just through effective marketing. Isn’t that where you’d want to be?


3. Your People

Your people are your greatest asset—not your brand, equipment or products. They are the ones who make your products or services, find your customers, sell to them, and do everything else that makes your business a business.

Yet at about 5 p.m. each night your assets get up and leave, and may not even return the next day. When you realize this, you realize business is all about people, nothing else. Look after your people and the business will look after itself. This sounds quite obvious, I know, but not one in a thousand businesses does this well.
No matter how good your product or service is, your entire business depends on people creating, producing and delivering it to the customer. In this process many things can, and will, go wrong.

It’s only the skill and care that your people take in your business that will give your company the edge. If your people are sloppy, careless, under skilled or de-motivated, this will show up in the way they deliver your product or service, and in the way they deal with your customers. A state-of-the-art manufacturing facility is pointless if your receptionist doesn’t answer the phone properly, or upsets your customers. What good will the best-looking store front be, if your sales assistants are ignoring your customers?

But if your people are switched on, motivated and totally focused on serving the customer, you’re way ahead, your competitors can never copy the effect on a business of staff who enjoy their work, who have fun with customers, and who actually care about them. No matter what your competitors do, they can’t go out and create this just because they’ve seen that you have it.

Getting and keeping good people is one of the most difficult thing in business. It’s also one of the most valuable. Because it puts you far ahead of your competition and helps you stay there.

Employing people is easy. Employing the right people is another matter altogether. Those people you employ create your business. They create its culture, its service, its quality, its reputation and, ultimately, its profit.
The basic principle is: If you hire someone great, you become great and your life will become easier. But if you hire the wrong person you undermine your lifestyle and the value of the business.

Hire people with better skills and a bigger vision than you have, and you create a great business. But to be able to hire the right people, you have to know how to select them. How to test their qualities and how to get the most from them? Like marketing, hiring (especially for key positions) is too important to leave to other people.


4. Your Systems

Many people are still confused about systems. What exactly are they, and why are they so important? For the moment it suffices to say that systems are the only way to guard your valuable time, and to use it to build the business instead of using it just to keep going.

When you run a business, you need a huge set of skills. Your time is valuable; you’re highly productive. What systems do is free you to pass those skills onto others, through procedures and processes, so they can do high- value, high-revenue work at a much lower cost. This in turn frees you up to develop your systems further, to make them more profitable, and to bring in new business and more revenue.

Systems move you from being paid for your labor time to being paid for your ideas. They allow you to expand comfortably, or to step back from the business and let it run itself. Systems bring you the freedom that probably attracted you to the idea of business in the first place. And with that freedom comes true success.

Thank You.
Chandan Mundhra.

POTION FOR ENHANCING LIFE’S MOTION

THINK BIG

There is magic in thinking big. But it is so easy to forget. When you hit some rough spots there is danger that your thinking will shrink in size. And when it does, you lose.

Below are some brief guides for staying big when you’re tempted to use the small approach. Perhaps you’ll want to put these guides on some common place or as a handier reference to make it your habitual thinking.

A. When little people try to drive you down, THINK BIG:
To be sure, there are some people who want you to lose, to experience misfortune, to be reprimanded. But these people can’t hurt you if you’ll remember three things:

i) You win when you refuse to fight petty people. Fighting petty people reduces you to their size. Stay big.
ii) Expect to be sniped at. Its proof you’re growing.
iii) Remind yourself that snipers are psychologically sick. Feel sorry for them.
Think big enough to immune the attacks of petty people.


B. When that “I haven’t got what it takes” Feeling creeps upon you, THINK BIG:
Remember: if you think you are weak, you are. If you think you’re inadequate, you are. If you think you’re second class, you are.
Whip that natural tendency to sell yourself short with these tools:

i) Look important. It helps you think important. How you look on the outside has a lot to do with how you feel on the inside.
ii) Concentrate on your asset. Know your positive self.
iii) Put other person in proper perspective. The other person is just another human being, so why to be afraid of him? Think big Enough to see how good you really are!


C. When an Argument or Quarrel seems inevitable, THINK BIG:
Successfully resist the temptation to argue and quarrel by:

i) Asking yourself, “Honestly now, is this thing really important enough to argue about?”
ii) Remind yourself, you never gain anything from an argument but you always lose something.

Think big enough to see that quarrels, arguments, feuds and fusses will never help you get where you want to go.


D. When you feel defeated: THINK BIG:
It is not possible to achieve large success without hardships and setbacks. But it is possible to live the rest of your life without defeat. Big thinkers react to setbacks this way:

i) Regard the setback as a lesson. Learn From it. Research it. Use it to propel you forward. Salvage something from every setback.
ii) Blend persistence with experimentation. Back off and start afresh with a new approach.
Think Big enough to see that defeat is a state of mind and nothing more.


E. When affection starts to slip, THINK BIG:
Negative, petty, “She/he is unfair to me so I will get even” type of thinking slaughters affection that can be yours. Do this when things are not going right in love department.
i) Concentrate on the biggest qualities in the person you want to love you. Put little things where they belong - in second place.
ii) Do something special for your friend, relative or whom you like most – and do it often.

F. When you feel your progress on the job is slowing down, THINK BIG:
No matter what you do and regardless of your occupation; higher status and higher pay comes from one think: Increasing the quality and quantity of your output. Do this:

Think: “I can do better.” The best is not unattainable. There is room for doing everything better. Nothing in this world is being done as well as it could be. And when you think, “I can do better,” ways to do better will appear. Thinking “I can do better” switches on your creative power.

Think Big enough to see that if you put service first, money takes care of itself.

A WISE MAN WILL BE MASTER OF HIS MIND, A FOOL WILL BE ITS SLAVE.

Outrageous Secrets to Wealth

The simply outrageous secrets to wealth. The purpose of this article is to increase the net worth of the people around the world and to make wealthy living a reality for you, the reader.

You are reading this article because recently you asked and now you received. You are seeking and now you have found. You knocked and now the door shall be open for you. The simply outrageous secrets of wealthy will now be revealed to you. Are you ready to walk through, in the land of abundant?

If you learn the simply outrageous secrets of wealthy you could double your income, net worth and time freedom in less than three years. The reason you are not wealthy is because of what you don’t know.

The purpose of this article is to explain that ‘Wealth’ is the freedom to do, be and have anything you want without money being an issue. What is simply outrageous is that the secrets of the wealthy are simply disciplines that are practiced by people who have learned to play the game of money very well.

The wealthy realize that you have control over three things in life:
1. The thoughts you think.
2. The images you visualize.
3. The actions you take.

You must understand that almost everything you want in life has already been achieved by someone else, and their achievement had made it possible for you to realize that you want the same for yourself.

No matter what you want, a person with thousand dollar thoughts will always produce thousand dollar results and a person with billion dollar thoughts will eventually get billion dollar results and everything he wants in life.

So, you must develop the seven simply outrageous characteristics of the Wealthy.
1. The Wealthy have a burning desire.
2. The Wealthy believe that they are worthy of receiving wealth, they believe that they can get wealth.
3. The Wealthy are passionate about the service they provide for the wealth they receive.
4. The Wealthy take action in the face of fear.
5. The Wealthy learn quickly from their experiences.
6. The Wealthy are very persistent.
7. The Wealthy understand that if you want to get from where you are to where you want to be, you have to take some calculated risk and invest wisely.

The wealthy invest in the following order of priorities:
• They invest for Cash Flow, streams of income.
• They leverage their time, money, expertise in the efforts of others.
• They use the Tax laws for their advantage, to reduce their taxable income.
• They also use capital gains to buy low and sell high for profits.

Unlike average investor, the wealthy investor wants to invest his money into an asset get his money back, keep control of the asset, invest his money into a new asset, get his money back again and repeat the process. One of the main reason people do not get what they want is because they have not decided what they want. When you share your vision some wealthy people want to help you make it happen, or they introduce you to friends or resources to make it happen.

Every time you share your vision for wealth you strengthen your own subconscious belief that you can achieve it. Once you commit to becoming wealthy, your laser focus will not allow you to constantly worry about other people what they think, because you will be too busy following your own burning desire.

Working hard is not the key to producing wealth. Wealthy people work lot less than poor people do. If you are only working for money then you will soon discover that money is not enough for reward. It is resentment of wealthy that keeps many people poor, because if the poor people became wealthy then they will resent themselves even more. The secret to wealth is learning how to take charge of your mind. Learning how to program your mind with affirmations and eliminate negative thoughts about money. Wealth begins when you create a relationship with money that is simple, comfortable and free from stress. You have to reach the point of being in control of your mind.

This article is the beginning of a personal development plan to prepare you to become the kind of wealthy person that you will like to meet and spent time with. You are now beginning to take control of your future. You should continuously expose your mind to new ideas, views about money and wealth.

Ask lots of questions and consider the possibility that your past thinking could be wrong. Realize, your current life style is result of your past thinking. If you are working for someone else the secret to increasing your income and preparing for future wealth is acting like you own the company. Getting wealthy starts at work.

Pay yourself first; invest in your retirement account. You need to pay at least 10% of your income. If you are not paying yourself at least 10% of your income then you are obviously living above your means.
If you pay yourself 15% of your income you could become rich.
If you pay yourself 25% of your income then you could become wealthy.

You must believe that you deserve to make outrageously more than you currently make.
The reason so few people are wealthy is that their parents told them; never do anything without instructions or permissions. So, I am giving you instructions or permissions to start believing that you deserve a simply outrageous income. Your actions have to reflect your thoughts because you will never be free if you say you deserve wealth and abundance but you act as if you don’t think so.

True wealth can be at any income because you are more than your money, your job, your house, your car or your Title. True financial freedom first begins in your mind, in your conscious, in your thoughts, in your actions.
It takes very little money to make money as long as you are patient and disciplined to do the following things:
• You need to - be, do and have i.e. be wealthy in your own mind. Do the things that bring you wealth and believe you should have the wealth you desire.
• Your imagination, your thoughts, your dreams create your reality. If you are open to wealth then opportunities to create and acquire wealth will descend upon you. The universe is outrageously abundant to those who are open to receive it.
• The universal LAW OF ATTRACTION states that you experience whatever you are thinking about long enough and deeply enough. So, the wealthy demonstrates responsibility with their abundance of money. They earn money, they invest money, they invest to increase their net-worth and then they are philanthropic.
• Philanthropic activities and charitable activities are net for occupying the space in your life. The only way to change the temperature of the room is to change the thermostat, so the same way the only way to change your level of financial success is to reset your financial thermostat.

Money is not good neither evil, money will only make you more of what you are. The habit of managing the money is more important than the amount. Wealthy people see each dollar a seed that can be planted to earn thousand more dollars, which can be then replanted to earn million more dollars. The only time you are actually going toward wealth is when you are uncomfortable with your income and net worth. You can be victim or wealthy, but you can’t be both. Wealth is simply an outrageous game of follow the wealthy leaders. Identify several wealthy mentors that you admire and follow their lead.

There are 3 simply outrageous phases to wealth:
1. You want to be wealthy.
2. You choose to be wealthy.
3. And, you commit to be wealthy.

Wealthy people focus on opportunities. Wealthy people only associate with positive and successful people. Wealthy people choose to get paid based on results. Wealthy people focus on their net worth. Wealthy people constantly learn and grow.
Above information may be new for you. So, you need a repetitive exposure to it before it becomes a natural part of your way of thinking. I suggest you to read it twice daily; once after getting up from the bed and last prior to going to bed. Both the times are best for the programming your subconscious mind. Any thought embedded into our subconscious mind just after waking up and before going to bed gets very deep into it and manifests result very soon.

So thanks for reading it till the end. Wish you a simply OUTRAGEOUS WEALTHY LIFE.


CA Chandan Mundhra,
INDIA.

Strategy for Waking Up early in the Morning

In the past I always wondered how to wake up early. I could not seem to force myself to wake up at early morning hours.I would usually sleep till 7 am or sometimes even till 8 am!

The later I would wake up, the worse I would feel. Day would pass so quickly that I would hardly accomplish anything. I felt numb and as though I did not have any energy in me.

But that entirely changed when I realized that by waking up this late I am not doing any favor to my body, mind or to my future. I understood that I am not going to become successful by being so lazy.

After realizing how much I am missing out, I decided to try some strategies on how to wake up early. I repeatedly wrote 'To wake up at 5 am'.

I failed couple of times, but I did not give up because I convinced myself that I absolutely must wake up that early.After a week or so I started to feel that it is getting easier to wake up at 5 am. After two weeks I did not even think of waking up at any other time. Therefore I changed the habit of late sleep to the habit of early rising.

How to wake up early: strategy #1

Try to think of how many hours you sleep. How do you feel when you wake up? Do you feel full of energy or lazy? Do you know that by waking up early you will feel so energetic that you will be able to accomplish twice the amount of tasks that you ever could?

Now try to think how many hours extra per day you will have if you would wake up, let's say, at 5 or 6am? How many would that be in years if you continue this habit forever?

Try to list what you would accomplish during these extra hours. List what you will do in the spare time that is left.

Do you know that most successful people are early risers? They know the secret of early rising: health, wealth and success. Anil Ambani has a habit of waking up early at 4 am daily and start visualizing his goals. Amitab Bachan too wakes up early in the morning (before the sunrise) and because of this his stars are still shining.

Waking up early naturally adds charisma in our Personality. When you wake up early you naturally become happy because you know that you will not waste half of your day sleeping. You become joyful and therefore only positive energy flows inside and through you. This, in turn, produces only good results which make you more and more successful.

Now you should be motivated enough to start following the process of how to wake up early.

Step-by-step process of waking up early:

You should take your daily planner or notebook. On tomorrow's page write down: 'To wake up at ...am '(put any early time you wish).

Set up your alarm at that time. Go to bed early so that you would have enough hours of sleep. If you do not feel sleepy, you should read some book or just try to relax in bed by letting go of all thoughts. Try this strategy today.

If you succeeded in waking up early, do the same process every day for 30 days. When you wake up, always check the diary page for the next day and read the same statement you recorded into your diary of when to wake up. This will program your unconscious mind to act on this statement next morning.

How to wake up early: strategy #2

If you did not succeed with the first strategy and still wonder how to wake up early, do not be hard on yourself. You are just learning.

This next strategy on how to wake up early is a bit more extreme, but it will definitely help you understand how to wake up early.

You should tell your friends and family, especially the people you live with, about your new habit. Just say “I am now waking up at 5am (or other time), I feel great and I am full of energy. You should definitely try that too!”

You should talk in a way that would indicate that you already formed this habit. Now you will think twice about oversleeping because if you oversleep, you will feel that you lied to others! Consequently, your family and friends might think that you are hard to trust and not a serious person.

Try this for a week. It should definitely work. If you still do not wake up early, try this last set of tricks on how to wake up early.

How to wake up early: strategy #3

As soon as you wake up, go to a different room that you do not associate with sleep. It can be your living room or kitchen. If the room is not heated, it is even better. Cold environment will remove every possible trace of sleepiness.

Drink cold water, then you can exercise a bit. If you can, go for a walk for around 15 minutes outside.

Play with your pet. Change into casual/formal clothing.

Start conversation with someone. This will not give a silent voice in your head a chance to start convincing you of the benefits of sleeping late:)

These strategies on how to wake up early should definitely help you in waking up at the time you like.

What you should avoid whilst trying to rise early:

There are certain things that can easily drag you into late sleeping.

Reading books can instantly make you sleepy, especially if the book is boring. Do not read in the morning whilst trying to fall into the habit of early rising.

If you really need to read as soon as you wake up, you should read in a cold room or the room that has no beds so that you would not have a possibility to take a nap.

Watching TV makes you less alert therefore it gives a perfect opportunity for sleepiness to take over.

Surfing the net is a relaxing and quite automatic activity, therefore again you become less alert and more likely to fall asleep.

Sitting in bed is the worst thing to do when you wake up! It can drag you into sleep without you even knowing! As soon as you wake up you should get up and walk out of the room you slept in.

Warm environment makes you sleepy and wanting to go back to bed. Try to avoid very warm surroundings when getting into this new habit.

Eating heavily in the morning is likely to make you feel sleepy because your body uses most of its energy to digest the food.

The quiet voice in your mind can easily to talk you back into sleep. Try to be aware of its intentions and ignore its suggestions.

Famous people quotes on early rising:

By reading these quotes you will understand the reason why so many (almost all) successful people have this habit. Each of these quotes contain great wisdom.

“I would have inscribed on the curtains of your bed, and the walls of your chamber: "If you do not rise early, you can make progress in nothing."

William Pitt, Prime Minister of Great Britain (1708 –1778)

“Few ever lived to a great age, and fewer still ever became distinguished; who were not in the habit of early using.”

John Todd

“The time just before dawn contains the most energy of all hours of the day. This has helped me become an early riser and an early doer.... When I wake to see that it's light out already, I feel like the world has started without me.”

Adabella Radici

“The sun has not caught me in bed in fifty years.”

Thomas Jefferson

“Six, or at most seven, hours' sleep is, for a constancy, as much as you or anybody else can want; more is only laziness and dozing, and is, I am persuaded, both unwholesome and stupefying.”

4th Earl of Chesterfield, Philip Dormer Stanhope

“No man can promise himself even fifty years of life, but any man may, if he please, live in the proportion of fifty years in forty--let him rise early, that he may have the day before him, and let him make the most of the day, by determining to expend it on two sorts of acquaintance only--those by whom something may be got, and those from whom something maybe learnt.”

Charles Caleb Colton

“The difference between rising at five and seven o'clock in the morning, for the space of forty years, supposing a man to go to bed at the same hour at night, is nearly equivalent to ten additional years to a man's life.”

Philip Doddridge

“Next to temperance, a quiet conscience, a cheerful mind and active habits, I place early rising as a means of health and happiness.”

Timothy Flint

“The early morning has gold in its mouth.”

Benjamin Franklin

“Whoever has tasted the breath of morning knows that the most invigorating and most delightful hours of then day are commonly spent in bed; though it is the evident intention of nature that we should enjoy and profit by them.”

Robert Southey

“When one begins to turn in bed, it is time to get up.”

Duke of Wellington, Arthur Wellesley

Conclusion

By posting this article I have applied the second strategy for waking up early and I sincerely hope that my advice will help you get into this great habit. If you really understand all the benefits it brings, you should not find it difficult to figure out how to wake up early even by yourself.