A lot of people say that other desirable characteristics needed to run a business successfully is to have the right information and knowledge.
While information and knowledge is good to have, but today we are surrounded by an overwhelming charge of excessive information!
Many people wake up daily to read about a 100 pages of the newspaper and then on the TV channels and even on our mobile phones and PDAs, we are bombarded with so many news articles and more.
It could be news about politics or the daily scandals and the share price movements or how the markets are performing and various ‘experts’ or even most of us are found either quoting, or justifying or negating opposing views.
From Fact file of Mr. Gupta:
I do not read the newspapers, nor watch the TV news nor surf the internet for daily news happenings.
Why? You may ask!
I think it makes my life simpler.
I am not worried about the ups and downs of stocks and currencies and bonds.
I am not worried about celebrity scandals or politics or the happenings in various organizations.
I am also not influenced by the so called ‘market sentiments’ which may influence me to make the wrong decisions.
For example, if everyone is selling, I may end up selling and conversely, if everyone is buying, I may end up buying, no matter if it is right or wrong, because everyone was doing it and in the same race, I also end up doing the same thing.
I am also not afraid of some coming deadly flu or disease, which may or may not come; but will make me half sick by worrying about it!
I am not influenced even if a top shot businessman or a top shot celebrity is sitting in front of me.
I discuss the terms of business, without getting influenced by whom he or she is. My decisions are thus generally based on the facts and my judgment, the purity of my judgment and it is not biased due to A, B or C or so called ‘information’.
Think about this, if you read in the papers about a devastating flood in another country. Can you do anything about it? Probably not.
The same thing applies to politics and other news items. In most cases, the average person is too small to change the outcome of that news worthy items. We cannot do much anyway.
So why get worried about things that are not in our control and we cannot do much anyway to change the outcome of theirs.
There is an old saying in India
Worry only about things that you can change by worrying, else let them be undisturbed. If you cannot control nor do anything about them, you will then have to face how they will come and sometimes worry will bar you from reacting to the situation with a cool and collected mind.
Maybe in the absence of worry, you would have reacted to the situation in a much better way or that situation that you were worrying about may never come in your life in the first place. So do not allow these news articles to give you the tension and worries.
However, if these news items will help you more prepared to face the eminent situations, and then of course it is very good. But you will thus have to learn to filter out the irrelevant information and focus on what is relevant to you and your business and your family.
This is where you should focus and cut out the excessive information.
From Fact file of Mr. Gupta:
In this context, one of my very good friend and a very successful businessman does not even have a hand phone! In today’s day and life, it is unimaginable to think that a person could be in business without a hand phone.
Another even more successful business friend of this friend, who has personal plane and is very financially well off also carries a hand phone with him that, is perpetually switched off! He switches it on only to make outgoing phone calls when necessary and then switches it back off again!
His logic is that “Hand Phone is for my convenience, but not for other’s convenience to disturb me anytime. I will talk when I m free to talk or I want to talk, I will talk”.
It is not for “other people’s convenience that they can call and disturb what I am doing!”
I learned this lesson and even though I have mobile phone I use it when I need to use.
This helps them to focus on tasks at hand and not lose track of the core activities that are needed for their businesses to excel.
Communication tools should thus be our slaves and we should not end up being enslaved to them instead!
From Fact file of Mr. Gupta:
I have other friend who is very interested in property launches. He reads and keeps track of them all the time. He knows exactly which properties are coming up for launch soon and at what prices and also all the hidden details. Over the time he also has saved up enough money to invest in a property. But until last year, knowing everything, he still could not make the decision to buy the right property; in spite of having all the market information, recommendations, trends and much more.
I, on the other hand, do not read about any such projects but has been investing in it despite not enough updated knowledge about market.
This I think this is the important difference in having information and knowing how to put it to the right use and make it work right for you.
It requires courage to take calculated risks and even though I did not have much information and knowledge, I took calculated risks and took courage to purchase some properties and it ended up better for me.
Information and Communication should thus be limited to our needs and our convenience and not the other way around. We should also then know how to leverage on it at the right time and in the right situation to profit from such knowledge and information.
THERE IS Too much of information rather flood of information
How does it matters if there is a flood or storm in other country
I agree some of these factors are global and can affect business but when effect is so global or massive even by knowing it –how we can stop it? It is like a storm which will destroy everyone with it. Those who know about it –either they are more prepared or more worried-in general more worried making them off their feet’s faster.
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