Posted on

Life and failure are the biggest teachers, as they say. Every day in life is a learning of a different kind and some of the lessons learned stick with us forever. And of course, teachers come in different forms – a friend, a colleague, a family member, a mentor or simply even a book or a blog these days.

I’m happy to share that a lot of my thought process is influenced by three people – my dad, Charlie Munger and Warren Buffet. Financial planning being the core of my work, here are some of the most memorable life lessons that I go by which I’ve learned from them.

  1. You should be ready to try things. Even if you fail, it is fine. People who succeed are the ones who tried.                        I’ve felt encouraged to start a business with this very belief and voila, with the right resources, support and most importantly by trusting my instincts, today we have CAGRfunds.

      2. Focus on the work in hand and live in the present.                                                                                                                                                 Time spent regretting about mistakes made in the past can instead be well invested in trying to learn from the same and develop                        yourself to become better. The analogy is the same as focusing on your goals and working towards them today so that the future is                      secure.

      3. Discharge your duties faithfully and well. There is no alternative to hard work.                                                                                       No pain, no gain. A simple learning which we all know of. We, at CAGRfunds ensure that we advise our clients earnestly, by                                 thoroughly understanding their needs and ensuring that their investments are made wisely. Having seen the results of working hard is             a reassurance of this lesson.

      4. Never cheat someone to make money. It comes back in the form of Karma.                                                                                              Money is precious to everyone. Being in the business of finance has given me enough reasons to understand that, educate people about             it and most importantly, to handle it well for other people who trust us with it. Everything connects to everything else – just like                          karma. You save enough now, you have a lot taken care of in the future. You ignore managing your money now and your money won’t              help you much in the future.

       5. Avoid envy and resentment. These two are subtle emotions but have serious and bad consequences.                                           Negative emotions can make you take wrong steps causing losses of various kinds. They can make one act thoughtlessly or hastily –                   both not advisable in financial planning or even otherwise generally in life. A valuable lesson that applies in business as well as in my               personal life.

Happy Teacher’s Day!

 

 

 

Posted on

5 Lessons of Financial Prosperity Inspired by Lord Ganesha

Lord Ganesha, also known as Ganpati is believed to be the God of wisdom, a symbol of happiness, prosperity, knowledge and remover of obstacles. Adored by his devotees, there is a lot of inspiration that we can take about financial planning from the Lord himself.

Here are 5 lessons of financial prosperity from Ganpati Bappa.

Listen out and loud 

The Lord’s big elephant ears signify how it’s important to have your ears wide open at all times, pay attention to all the information coming your way, absorb all the knowledge and filter out what’s not necessary. Lord Ganesha is also known to be worshiped for beginning new ventures. Therefore, by taking a cue from there, you can start saving and investing money early, ideally as soon as you begin to generate income. As investors, there can be an overload of knowledge and information that comes your way. However, making the right decisions at the right time with the help of sound knowledge and guidance of financial advisors, by listening to them carefully can be a big step forward in your financial planning journey.

 

Think big to achieve bigger

The Lord’s huge elephant head signifies that one should always think big. From a financial planning perspective, it’s important to identify goals and categorize your investments accordingly. Thinking big about your future is a way to secure it better, by knowing what you want to invest for and thereby identifying your short, medium and long term goals. Goals can be met when they are prioritized well. In order to do this, it’s also important to keep your thirst for financial knowledge alive. Lord Ganesha symbolizes wisdom and intellect, which gives us the inspiration to be financially literate and understand the various investment options that can be suitable for our goals and give us good returns in the short or long term, as planned by us. While thinking big, it’s also important to realize the magic of compounding which is earning interest over interest and generating more wealth over a longer period of time. Secure yourself by taking advantage of this and working towards the bigger picture.

 

Concentrate and stay focused

Although bestowed with a big head, the Lord has very small eyes which signify that in all the big plans that we take on, it’s very important to concentrate and be detail oriented. With attention to the minutest of details, this feature of the Lord inspires us to understand the nitty-gritty of our planned investments, the pros and cons involved in each of them and therefore, be mindful of how we plot this journey for ourselves. Even after making that commitment, it reminds us to stay focused and be consistent with it to ensure that we don’t deviate from our plans and disturb the financial planning process for ourselves. Not to forget, the focus also enables us to be protected and prepare ourselves for monetary turbulences, which should be paid just as much heed as we do to any of our other investments.

 

Trunk-like patience to adapt in all conditions

The Lord’s trunk symbolizes the virtue of patience that we must all possess as it’s unlikely that things always go as planned. Having a foresight towards this and ensuring that we can adapt to new circumstances as per the changes or new developments, is an inspiration for us to take. The long trunk also signifies that the Lord can sniff out danger or negativity, which is why he’s referred to as the remover of obstacles. This teaches us the lesson to be vigilant towards our investments and not be lured towards lucrative offers and those that promise anything big in a short span of time. To sense the unrealistic and frivolous nature of any such investments and steer away from it, being aware of market conditions and the risk involved in the investments that we choose to make, is an important lesson to bear in mind.

 

 

Strong tusk power to fork out bad investments

The Lord’s strong tusks are a reminder to us to have the strength to take the right decisions and eliminate any negative influences that there might be. Building your perceptions after critical analysis is a way to attain that sense and strength to fork out poorly performing investments that hold back the potential of the portfolio.

 

The lessons above lead to financial security in the future, well represented by the laddoo in the Lord’s hand which signifies that the fruit to patience, focus, perseverance and good thinking always results in something sweet. On this Ganesh Chaturthi, let us acknowledge Bappa’s lessons that we can follow for life and work towards a safer and wiser path of savings and investments. Best wishes from CAGRfunds to everyone on this auspicious occasion. Ganapati Bappa Morya.

 

 

 

 

Posted on

A head for numbers and a heart for words.

Sonia Gandhi Limaye is the founder of Kalamwali and Rightwords Publications Pvt. Ltd. in Pune. Born and raised in a business family, she knew that she always wanted to be a business owner. But that said, she was also clear about establishing and running an organisation that would let her have a good work-life balance, for herself and for people working with her. Being very clear in her mind about not having to choose work over family, children, hobbies and social responsibilities, Sonia took the right steps towards founding her start-up.

Kalamwali was conceived as an idea in 2014 and relaunched in 2016. It is a platform for writers and an online publishing website that allows all kinds of writers to publish their work in the form of stories, experiences, poems, recipes, tips and much more. It’s a constantly growing community of readers and writers. Apart from an online existence, Kalamwali also conducts an array of literature related activities like storytelling and creative writing sessions for both kids and adults.

In 2016, Sonia released a self-published anthology called “The Best of Kalamwali” with the 50 best write ups on the company’s website. The book was a huge success and both the readers and the writers coveted its copies. This year she and her team are working towards publishing the second edition of the anthology.

Since writing is her passion, she started Rightwords Publications Pvt. Ltd. in 2017. A small and intimate set-up, they are a humble enterprise with a strength of four. With a focus on content related work such as content strategy for websites, brochures, Social Media pages, they are currently working with four very well-known clients based out of Pune.

Sonia’s passion to translate ideas into possibilities was her main inspiration to become an entrepreneur. Besides, she did not see herself in a 9 to 5 job especially feeling averse to the monotony that she thought would be attached to it. However, she like many other entrepreneurs had her set of fears while starting out on her own. “Failure of not being able to explain my idea through my work. Fear of realising that work is boring for my employees and they hate their job. To face an unhappy client at the end of a job work.”, she states were some of them.

Sonia’s entrepreneurial journey has been slow and steady. She funded her business from her savings when she started off and now it’s almost self-sufficient. She explains that had her capital investment been high, she would have considered options to raise money. But that would have come with a lot of pressure to pay off. She shares from her experience what all should one be cautious of while starting off on their own, “Have a clear idea of what you want to do and what you want to achieve with that. Don’t get carried away into something that may look very lucrative or easy. There is no such thing as an ‘easy business’ or fast money or quick success. Let your dream take its own course of time. Don’t trust anyone blindly with your finances. Do as much research as you can on your own about the various options to manage your finances. Consult a financial planning advisor once you’ve done enough research on your own. Take things in your hands. As soon as you accumulate an amount, however small, reinvest it in your business or invest it in something that will grow. Do not depend fully on someone you have hired to do something for you. Make sure you know how to do it even if it’s a basic version.”

Sonia maintains a straightforward approach to manage her personal finances and those of her business. She pays herself a salary to keep that distinction. In case of accumulation of funds or receiving monetary gifts, she invests them immediately. She does not give or take loans, which she shares is a very recent improvement in her and that she has learnt to save before splurging.

With years of experience of setting up an enterprise and running it successfully, Sonia generously shares her tips for budding women entrepreneurs. She says, “Have a clear idea about your scope of work. And a tentative goal. Neither short term, nor too long term. Like a three-year goal which is not difficult to speculate or set. Write and rewrite the business plan at least 3 times for better clarity in scope of work. FAILURE in the initial stage is important so as to never become complaisant. Face it bravely. Have sleepless nights, anxiety, endless brainstorming sessions with different people who will ask you the questions you fear. Have immense belief in your idea and love your business like your child. Don’t let anyone tell you it’s not your cup of tea. Start taking your finances in your own hands and learn from scratch. Until 2015, I had never personally stepped into the bank for any bank work. I didn’t know how to write cheques or file returns. But I learnt from scratch and now even though I am not a master of it, I can do it by myself. Last but not the least, enjoy your work, and the wealth you’ll generate from it.”

 

 

 

 

 

 

 

Posted on

All in a pot of tea.

Anamika Singh is a second generation tea sommelier who has been learning, absorbing, experiencing, creating and spreading the good word of tea for the past 30 years. She has lived her life largely in the mountains of Darjeeling & Dharamsala. Around 6 years ago, after working for a considerable amount of time with her father, Abhai Singh in the estate and exporting their teas to Europe and Asia, she decided to introduce India to fine, boutique, niche teas and thus, Anandini Himalaya Tea was born. Anandini means where the earth and the sky meet and something that gives you happiness. After two years, her brother, Kunal Singh joined the business and now they have grown as a brand.

They started with 7 blends, the tea sourced from their own estate where they worked closely with farmers and got the purest of flowers and herbs from the Himalayan region of India. They now have close to 150 different teas that include handmade teas, infusions, and tisanes and are very happy working with the hospitality industry as well as the wellness industry. They curate events and workshops based on tea and are also working with the Indian Hospitality Management institutes to teach the students about the beverage of the nation, so that each one of them can become brand ambassadors of tea.

Anamika believes that it was the obstacles in her life that inspired her to become an entrepreneur and she is glad to have chosen the path less traveled. She quotes that, “Working with my father was one thing but starting a business on my own was another ball game altogether. There was a phase in my life around 9 years ago that actually made me question my abilities, my thought process, me as a person and my responsibilities towards others who surrounded me. I had to snap out of it which I did with the support and love of my family and close friends. I just decided that I have to work harder, create something of my own, catch hold of that silver lining and begin with courage and hope and prove first to myself and then the rest, that I believed in myself, my abilities, my skills and that if the mind can conceive it, there is no way that one cannot achieve it.”

As with anyone starting out on their own, Anamika too had her fears. Her main concern was being one of the very few women in a male dominated industry and therefore, the apprehension of not being taken seriously in the business. She learnt the nuances of tea in their tea estate under the astute guidance of her father who has been her biggest inspiration, her guru and someone who always led the way for her to follow. After learning everything from scratch under him, she set up Anandini Himalaya Tea where she suspected again if the Food & Beverage industry would give her a chance as a tea sommelier and listen to her. In her opinion, tea has never been given the kind of significance it deserves and there’s very limited knowledge that people have about the different kinds of blends. This was a challenge for her as she wondered if she’d be able to hold the attention of people during meetings in the F&B industry. And this of course had a direct co-relation to how it would impact her business. Anamika quotes, “Their normal remark would be, ‘Tea is just Tea, how is yours any different?. People in India just didn’t understand the importance or the relevance of Single origin or Single estate teas. They still don’t. So it is an everyday challenge, but I love it. It keeps me going, changing one cup at a time.”

From her years of experience as an entrepreneur, Anamika shares her approach of starting a new business. She states that it’s crucial to have a business plan in place especially if you intend to create a brand. It is important to connect with financial planning organisations or government bodies that can help you register and further help you to figure out the way forward as far as finances are concerned.

She states that today it’s a huge advantage that we have accessibility to financial planning advisors, to discuss and figure out financial strategies as compared to earlier. Anamika quotes, “I think our biggest fear is of being seen as one who doesn’t know, hence we find it difficult to ask for help. But with all the infrastructure available to us today on how to take it forward, now is the best time to create your path.”

Anamika started off by putting her personal savings to establish Anandini Himalaya Tea. After a year, when she got an understanding of the market, she initiated the second phase where fresh funds were invested with the help of her family and friends to open a tea boutique and expand the market. This increased her outflow in a span of three years and as the founder/director of the business, she did not use any of the new funds for her personal use. When funds were required for expansion, marketing and new projects, they were again gathered from family and friends. She explains that they have not taken any debt from the market and Anandini Himalaya Tea is still a close family owned business. It was only since the fourth year of the business when she and Kunal have been able to take a salary. She mentions that all other profits are re-invested back into the company. They had consciously decided to not involve investing companies for further financing to keep their brand value intact.

However, she also highlights a few things that one should be cautious of while starting out on your own. She emphasizes that once you’ve established clearly what you want to do, which direction you want to take and who you want to partner with, it’s possible that somewhere along this journey you get influenced wrongly and get deviated from your core values that your brand talks about. This may all be in an attempt to reach your goals faster and in ways that might bring in the limelight quicker than expected. She mentions that it is absolutely crucial to keep going back to the drawing board and figure out where you started and how you started. She states, “Stick to the values and principles, choose your clients wisely. Be careful of how you put across your brand on social media. The world is watching. And if you are an entrepreneur, remember you reflect your brand and vice versa. Hence, with the powerful tool that the social media is, remember to keep yourself linked to the brand and see how you can reflect the best rather than give any negative impact to what you are trying so hard to build.”. Anamika personally has a checklist that she goes back to off and on. Additionally, she maintains a daily diary of her expenses and has a personal CA who helps her with her investments and to keep a reality check on her personal finances as well as that of the business.

When asked about her success mantra, Anamika generously shares her thoughts with us. “Believe in yourself. Remain true to yourself and be you… Bravely! You are responsible for creating your path the way you want it. Listen to your heart and follow your dreams. There is no way that they will not manifest! Do not rush into anything without having done your homework. And in this entire process, do not forget yourself and the time you need to give to yourself. If you grow, your mind breathes and then your brand grows. Take out ‘me time’ always even if it is for just 30 minutes in a day. Spend time in solitude. It has helped me so many times when I was caught in a road block. Build a network of people who support you and believe in your dreams and last but not the least, stay away from negativity. Your time is precious. Respect it. Life is beautiful, we just have to learn to savour it sip by sip.”