I was speaking to the senior management at a fairly large IT company a couple of days ago. I noticed that there was something different with them. In the past whenever I had met them, it was easy for me to tell how things were going on just by looking at they way they spoke, behaved and carried themselves. A year ago the very same people spoke with quite a hint of arrogance and ego. Today on the other hand it is very easy to say that their ego and arrogance have disappeared. Unfortunately now they are the complete opposite of what they were at that time. Now their spirits are broken and they surely are in desperate need of some self-confidence and motivation.
There is a thin line between self-confidence and arrogance. Crossing over the line from being self-confident to being arrogant is one of the major reasons so many “supposedly invincible” businesses are in trouble. At the same time giving up hope and being constantly depressed is a sure shot way to sink.
Very few people have paid attention to the psychological aspect of finance. Even people who study finance in a professional way are not taught about how they can learn a lot about the finance by studying the mindset/psychology of the individuals running the business. One of the most important rules of being an investor, businessperson or successful human being is to never let ego get to you. Success, wealth and power tend to attract arrogance and ego. As mentioned in the past also, these are thing that can cause the downfall of the most intelligent people.
Unfortunately even the best MBA schools on the planet have not paid attention to something that on the face of it might seem very basic, but has immense value and importance. A few years ago I was speaking to someone from Harvard and telling them how important it is to teach students about financial psychology and mindset needed to be successful investors, business owners and managers. Today we know for sure that old rules of investing and finance – no longer work. The entire world economic system is collapsing because of a lack of these basic fundamentals. Do read this story on Forbes– How Harvard’s Investing Superstars Crashed. I’m sure such things could have been avoided by taking a few very simple steps. At the same time, when the biggest and brightest crash out, it also means there is a huge opportunity for new people to make the most of such rare happenings.
RamalingaRaju of Satyam, also happened to be a Harvard alumni and even Enron had an Harvard angle to it. This just proves how important it is for us to have an education system across the world that is more balanced and isn’t just about making bigger and bigger castles in air on people’s money and credit. I don’t mean to blame any single institution here and all I am trying to say is that a major reform is needed in the way knowledge is imparted. Finance and money can never be just about balance sheets, numbers and figures. There is much more to it.
Financial psychology as a subject will help people figure out when things are going wrong and when to stop. There is nothing wrong in being wrong and accepting it, only when that is done can we bring about new changes. A lot more people today have realized the importance of living a more balanced life – the problems associated with a society which just wants to consume more and more with the help of credit have already been seen in America.
People who are financially independent are in a much better position to face economic uncertainties. One of goals of The Happionaire™ Way is to make sure that financial education is made more relevant to more people on this planet – right from MBA schools and senior executives to children just entering school and people just starting to work. It has already started, you reading this is proof of that, but there are still millions more with whom we need to share our knowledge. I’m sure that with God’s grace and support of Happionaires across the world we will be able make this dream a reality.
A sneak preview of Happionaire’s Cash The Crash is also up on our website. Do check it out, I hope all our fellow Happionaires like what they see and read. It should be hitting stores across the country soon. It wouldn’t have been possible without people like you, who have such a strong desire to learn more in this rapidly changing world.
Keep smiling and keep learning! There couldn't have been a better time than now.