Business Daily from THE HINDU group of publications Sunday, Jul 13, 2008 ePaper | Mobile/PDA Version | Audio |
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Investment World
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Books Columns - Book Value Mind your money
Pull a currency note out of your wallet and take a good look at it, because you can actually see the story of your own life unfold before your eyes, says Suresh Padmanabhan in ‘I Love… Money’ ( www.jaicobooks.com ). Every area of our life, from relationships to health, is deeply entwined with money, he adds. “When the money area of our life gets affected, it has a snowball effect on the other areas of our life. Money is a very special mirror that shows us the reality and truth of our lives.” Therefore, disentangling the ‘money knots’ can help resolve other problem areas in your life, the author counsels. “The problem with many people is that they concern themselves more with other people’s problems and financial issues than with their own.” Mind your money, he urges. “Let others mind theirs.” The book lays down a simple equation: discipline = freedom = abundance. As a matter of discipline, maintain daily accounts, Padmanabhan advises. “You must account for every rupee that comes in and goes out of your life. Account transactions as they happen.” Each one of us has just about ten to twelve transactions each day, and keeping the bills organised and in one place will make the task of accounting easy, he encourages. “You can make money or you can make excuses,” goads a line in the book. To ‘make money’ you ought to stop making excuses, the author instructs. “When you remove ‘excuses’ out of your life you will become more ‘M-powered’ (Money powered),” he cheers. Reassuring read. The world of the rich
Billionaireville had only 13 inhabitants in 1985, but by 2006, it had more than 400, writes Robert Frank in ‘Richi$tan’ ( www.piatkus.co.uk ). “The personal lives of billionaires are more like companies. Their homes are like hotels – sprawling campuses with their own logos, purchasing budgets and legions of staff,” he describes in the book that journeys through ‘the 21st century wealth boom and the lives of the new rich’. Ask a billionaire for his or her bank statement and you’ll get a five-level flowchart of interlocking subsidiaries, holding companies, investment funds and foundations, continues Frank. His ‘Richistan’ is a borderless country, with citizens spreading around the world – in the US, Mexico, the UK, France, Spain, Hong Kong, and India. “The UK has become an especially thriving Richistani outpost,” the author finds. The number of millionaires in the UK is expected to quadruple by 2020, from 3,76,000 to 1.7 million, according to the Centre for Economics and Business Research, he cites. “British concierge services are thriving, as they arrange for rich clients to rent their own tropical islands, charter 250-foot yachts and host birthday parties in Cyprus.” Meanwhile, British football clubs, and luxury automobiles are also keenly sought after. As wealth becomes more global, Frank expects philanthropy too to grow. “Someday, the rich will move beyond the excesses of 500-foot yachts, $3,50,000 Rolls-Royces and alligator-skin jet potties. They will see that their money is not a gift but a responsibility.” A book that takes you on an exciting tour. It’s all in the thinking
How are the global leaders achieving breakthrough business results? Through different, creative, innovative, integrative, and futuristic thinking, says Pravin Rajpal in ‘5 Thinkings to Win’ ( www.ombooks.com ). “There is so much of benchmarking these days that more or less each company looks very similar. Benchmarking can bring you up to the best practices, but it may not move you beyond them,” explains Rajpal in the chapter on ‘different thinking.’ His prescription, therefore, is differentiation, as a competitive advantage. “Your points of differentiation may relate to the way your product or service is provided, priced or even delivered,” he explains. Writing on creative thinking, Rajpal describes creativity as an essential building block for innovation. “Creativity is much more than a few techniques – it is in fact the way of being. Creativity is to make, experiment, grow, take risk, break rules, design and have fun.” He sees the whole concept of business as creativity – ‘creating products, customer needs, and markets.’ Easy takeaways. More Stories on : Books | Book Value
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