Sunday, June 24, 2012

Interesting Acronyms...!

ABC = Always Be Careful
ADIDAS = All Day I Dream About Success
BOSS = Built On Self Success
CHEF = Creating Heavenly Extraordinary Food
DIET = Don't Indulge Every Time

FAMILY = Father And Mother, I Love You
FATHER = Faithful And Trustworthy, Honoring Every Responsibilities
INDIA = I Nearly Died In Adoration

ISLAM = I Sincerely Love All Muslims
ITALY = I Trust And Love You
KASH = Knowledge, Attitude, Skills, Habits

KEY = Keep Extending Yourself
KOREA = Keep Optimistic Regardless of Every Adversity
LIFE = Learning Is Fun & Excitement
LOVE = Lots Of Valuable Emotions

POSTAD TV = Priorities, Outcomes, Sequence, Timings, Attendees, Date, Time & Venue

ROSE = Really Outstanding & Sweet Everyday
SMILE = Showing Miracle In Little Effort
TEAM = Together Everyone Achieves More
THAILAND = Totally Happy Always In Love And Never Dull
WATER = Wonderful And Totally Energizing Refreshment
YAMAHA = You Are My Angel! Happy A

Saturday, June 16, 2012

Astounding Compounding

Who does not know Mr Vishwanatha Anand? Five time world champion in chess, truly a king of the game. Did you ever wonder when and where was the game originated? Who invented this lovely game?

1500 years ago there was a king in India. He set some goals for himself and achieved all of them. Then he became complacent and literally had nothing more to do. The king got bored after some time and he announced that whosoever takes in boredom away will be given any reward which pleases the person.
Lot of musicians, artists, singers and dancers came in the royal palace but none of them could kept the king engaged for long.
Then came a Persian student Sassa with a wooden board with 64 squares in it and few other pieces of wood. He explained the game to the king and soon the king was busy playing this wonderful game with ministers and the queens with their lady slaves. Sassa kept on training people in this game and all the people in the state liked the game very much. Then the student Sassa wanted to go and the happy king asked him: “How can I reward you? Gold or Jewels? Perhaps you want to marry one of my daughters? - the most beautiful one. Choose anything you like.”  Sassa replied "Your Majesty, all I ask for is some grains of wheat. Put 1 grain of wheat on the first square of the board, 2 grains on the second square, 4 grains on the third square, and continue to double the grain on each square until all 64 squares have grain."

They all wondered at how this silly Minister was, since he only wanted a few grains of wheat after winning such a prize. The King Kaid at first thought he'd gotten off easy and readily agrees.
First the King's Ministers sent for a few stalks of grain, then they sent for a few buckets of grain, then they sent for a few bushels of grain and then... they sent for a few fields of grain!! After that, they sent for a Mathematician. The Mathematician told the Ministers and the King that the amount of wheat that Sassa requested would take all of the wheat in the entire world! And perhaps still will not be met. It is multiple times higher than the annual world production of wheat.
Do you want to know how many grains would it take to fulfill this condition? Let us do a quick calculation:
Square 01 = 1
Square 02 = 2
Square 03 = 4
Square 04 = 8
Square 05 = 16
Square 06 = 32
Square 07 = 64
Square 08 = 128
Square 09 = 256
Square 10 = 512
Square 11 = 1,024 (Thousands)
Square 21 = 1,048,576 (Millions)
Square 31 = 1,073,741,824 (Billions)
Square 41 = 1,099,511,627,776 (Trillions)
Square 51 = 1,125,899,906,842,620 (Quadrillions)
Square 61 = 1,152,921,504,606,850,000 (Quintillions)
Square 64 = 9,223,372,036,854,780,000
On the entire chessboard there would be 264 − 1 = 18,446,744,073,709,551,615 grains of wheat, weighing 461,168,602,000 metric tons, which would be a heap of wheat larger than Mount Everest. This is multiple times the global production of wheat.

Yes, this is the power of compounding. ‘The most powerful force in the universe’- as Albert Einstein said it. Really it is astounding.  Mr Einstein also gave a rule to calculate the number of years it takes to double anything which is getting compounded annually. This rule is known as - Rule 72. You simply need to divide 72 with the current interest rate. For example if the rate of interest is 24% per annum, your money will get doubled every 3 years.
If you invest Rs 1 lac on your 25th Birthday and it gets compounded at an annual rate of 24%. You will have Rs 1300 Cr in your account on your 75th Birthday. And if you are lucky enough to live for 100 years, your ATM will show you a balance of Rs 335544 Crore.

That is the power of compounding. The good news is - compound effect is not limited to numbers only. It is equally effective on our choices, behaviors and habits. Small steps taken on consistent basis can do wonders in your life.
Go make the first bang and start harvesting the power of compounding. Remember, early start is the key in compounding. Just to give you a perspective - In the first 3 years the money grew just by 1 lac while in the last 3 years this grew by 167772 Crore.

Saturday, June 9, 2012

Six Steps for Reaching Goals

It feels great!

  1. Do what you love. ‘For stunning success one must do what s/he loves to do and money follows’ – writes a recent article in Harvard Business Review. The most important teaching Steve Jobs had to offer to the world was ‘Do what you love. It is your life; do not spend it living on someone else’s dreams. We have nothing to lose as we are already naked.’ Don’t be afraid to follow your heart. Have your own dreams and follow them. Be courageous. Make a plan and take the plunge.  
  2. Choose the niche. Decide what you want to sell and whom do you want to sell it. Perhaps the first two ‘P’ – Product & Place are the most important out of the four Ps (Product, Place, Promotion & Price), marketing champion Philip Kotler pointed out.
  3. Believe only in the best. Quality is important. In fact, if you are really looking forward to being a lifetime achiever and are interested in building a world class brand then compromise not. If you do not have enough margins then increase the price and if you are delivering something to middle class people and competitive pricing is one of the differentiating factors for you then at least make sure that you offer best value for the money the customer / employer can buy. ‘Be a yardstick of quality. Some people are not used to an environment where excellence is expected.’
  4. Focus like a laser beam. Imagine what could have happened if Sachin Tendulakar has tried his hands in Football and Bollywood along with cricket? Or if Barack Obama had tried his hands in IT & singing in parallel to politics?  Choose one profession / passion – whatever it may be and try to become the best. Famous personal development & leadership coach Robin Sharma calls it -- BIW (Best In the World).  That is only possible if you love what you do and do what you love. Otherwise you will take time out of your work and enjoy some hobbies and then eat time from this for your work. It can be a complete mix up.
  5. Be a knowledge machine. Star achievers are students of learning. They believe in on-going education and practice. Think of top performer in any area and they have multiple coaches, they go to seminars/conferences, they attend training programs, they read books and listen recorded programs. Think of reducing your time on entertainment and increasing the same in education.
  6. Harness people power. Surround yourself with people who ideate and execute more; those must be learned people. Company of people makes lasting impacts on our head & heart. What more, it makes your character which in turn defines your destiny. Great people are quite helping. They will walk extra miles for you and be happy to see you reaching on the new peaks of success.