Financial Daily from THE HINDU group of publications Sunday, Mar 05, 2006 |
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Investment World
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Books Columns - Book Value This fish market will have you hooked D. Murali
In the rarefied world of finance, the last person you may ever want to rub shoulders with is the fishmonger. Yet, off we go this week to a fish market: Pike Place Fish. It is in the "open air market located in the heart of Seattle, Washington," as www.pikeplacefish.com informs. "People come from all over the world to see our world famous crew of fishmongers throwing fish and having fun with customers," is from `About Us' on the site. "There is a series of management books called FISH! written about the philosophy of employee work ethic as a fishmonger in Pike Place Market," alerts Wikipedia. And I have on hand one more book, Catch! by Cyndi Crother, from Tata McGraw-Hill (www.tatamcgrawhill.com). The place employs 15 to 17 fishmongers, though on any given day, six to nine fishmongers sell fish at the market. "While they are best known for the energy and excitement they generate at the market, they are less known for their unprecedented financial results," writes Crother. "In the past 17 years, Pike Place Fish's cost of doing business has dropped nearly 25 per cent, revenues have quadrupled, and profits have increased tenfold."
Success mantra
What makes them so successful? The simple lesson is that we are responsible for what we experience in life, and for whatever future we cause to happen, explains Crother. "The fishmongers call that idea `It's all over here' each person is solely responsible for his or her thoughts, feelings, emotions, decisions, actions... everything." Chris, a fishmonger, tells the author how feedback helps in staying successful: "If I do something that is not aligned to the vision of being world famous or to our quality of service or product, somebody will let me know right them. It's also my responsibility to tell somebody when I notice it in someone else." And the Pike Place Fish site has this to say: "People want to copy us to do what we're doing. We keep telling them, `Your success isn't in doing what we do; it's in discovering your own way'." So the fishmongers advise thus: "Don't do what we do we made it all up... do what inspires you... make it up! You just have to be (yourself... what inspires you)." What does it mean? "It means commit yourself to who you say you are: act like it, think like it, look like it, feel like it, speak it... be it!" As a result, "You will create your own way by just being yourself, doing what inspires you. The secret to our secret lies in our commitment to being who we say we are." To reinforce, the site urges, "JUST BE IT. Your challenge is to `just be' who you want to be... for free... just because you said so." These fishmongers are `ordinary people living extraordinary lives,' writes Crother. "The catch is that ordinary happens, but greatness is generated." The transformation comes from "being great in all that you do," not just in `one act of greatness'. To help change, the book poses a series of questions as follows: "What is it that you are passionate about? What dreams or goals keep you up at night? What inspires you to get out of bed in the morning?" Worth trying out in the world of investment too.
Commitment
Awareness of intentions isn't enough. You need `commitment'. This means taking a stand for what your intention is and what you believe in. "Once an intention is established, and a commitment is made, the next step involves relinquishing attachment to the outcome." In the lingo of fishmongers, it means surrendering it to the universe! "This surrender creates the opportunity and the space for unexpected things to happen." Attachment to a specific outcome is dangerous, cautions the author, because "you will inevitably tie your expectations to it." Reminds one of `the secret of action' in the Bhagavad Gita. "Karma Yoga is essentially acting, or doing one's duties in life as per his/her dharma, or duty, without concern of results a sort of constant sacrifice of action to the Supreme," explains Wikipedia. Resuming the fish story, believe it or not, the mongers there work at thought level. "When they recognised other people sharing negative thoughts about life, the fishmongers see an opportunity to bring it to light and to offer a new, more powerful thought." Transformation begins now, exhorts Crother. Because time is too precious. Urgent read, to glean success tips from the fish market!
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