I was going through my old files and found some notes about responsibility that I believe you will value. Here's what it says about Responsibility.
  • When you take responsibility, you are giving yourself a little bit of promotion in life.
  • Responsible behavior means accountability.
  • It represents maturity.
  • It means creating the right attitude and environment for you to operate in.
  • Most people take responsibility for their success. Few take responsibility for their failures.
  • Responsible people avoid phrases such as, "Everyone else does it", "No one does it", "It's all your fault", etc.
  • Responsible behavior is very important to teach at an early age.
  • People who use their privilege without responsibility lose their privilege.
  • People use petty reasons for their irresponsibility.
  • We have a responsibility to contribute towards the well-being of our society and our family.
  • We can do that by providing for them, protecting them, becoming successful ourselves and setting the right example.
Share it if you found value in this blog post.


Buffett The Multicapitalist

This excerpt is from one of my favorite books of all time, Warren Buffett Wealth: Principles and Practical Methods used by World's Greatest Investor written by Robert P. Miles.

Most people think of a capitalist as employing capital to produce good and services at a profit. Buffett has redefined "capitalist" into multiple dimensions.

Intellectual Capital: The gift and development of extraordinary intelligence to deploy capital.

Values Capital: The careful selection of ethics and principles to attract and keep capital.

Value Capital: The artful acquisition of resources at a discount to their real capital.

Capital: Access to ever-increasing resources to allocate to their best use.

Human Capital: Selecting and associating with people who cause you to perform better.

Social Capital: Having the right connections for the right reasons to move in the circles that bring more and better deals.

Opportunity Capital: Being the first one called when a business opportunity meeting specific acquisition criteria becomes available.

Business Model Capital: Developing a business environment to attract an untold variety of businesses and managements under one umbrella.

Circle of Capital: Successfully allocating the excess capital of one business into the acquisition or expansion of another.

Influence Capital: Able to influence the U.S. Congress to give Salomon Brothers (a partly and previously owned company) another chance to save the jobs of over eight thousand associates. Also able to influence all branches of government: legislative, judicial, and administrative. Can attract over fifty worldwide media outlets to cover Berkshire's annual meeting, while giving limited access to interviews during the rest of the year.

Warren Buffett Wealth is an excellent book to read regardless of whether you are a new or experienced investor. I highly recommend it.


The 25 Habits of Highly Successful Sales People

Stephen Schiffman is America's #1 Corporate Trainer and has written an incredible book titled "The 25 Habits of Highly Successful Salespeople". To become successful at anything, it is important that we cultivate the right habits. Listed below are 25 habits (and a few bonus habits) that all salespeople should form to become great at their game.
  1. If it doesn't work, fix it.
  2. Communicate the message that it is sound business to trust you.
  3. Ask the right questions.
  4. Take the lead.
  5. Listen, learn and lead.
  6. Engage the prospect.
  7. Find key requirements.
  8. Know the sales timetable.
  9. Convert the leads that "fall into your lap".
  10. Know how to make your product or service fit somewhere else.
  11. Pretend you're a consultant (because you are).
  12. Ask for the next appointment while you're on the first visit.
  13. Take notes.
  14. Create a plan with each new prospect.
  15. Ask for referrals.
  16. Show enthusiasm.
  17. Give yourself appropriate credit.
  18. Tell the truth (It's easier to remember).
  19. Sell yourself on yourself
  20. Start early.
  21. Read industry publications (yours and your clients')
  22. Support your visit the next day.
  23. Give speeches to business and civic groups.
  24. Pass along opportunity when appropriate
  25. Take responsibility for presentations that go haywire.
Here are some bonus habits.
  1. No one wakes up and says, "I'm going to be stupid today".
  2. The customer isn't always right.
  3. Be honest with yourself about the nature of the firm you work for.
  4. Tell everyone you meet the name of the company you work for and what you sell.
  5. Keep your sense of humor.
Hope this helps!
- Mayur

The 4-Hour Success Window!

24 hours in a day!
We spend 8 hours sleeping - left with 16 hours.
We spend 1 hour in the morning getting ready and eating breakfast - left with 15 hours
We spend 8 hours working at the job - left with 7 hours.
We spend 1 hour in lunch break - left with 6 hours.
We spend 1 hour commuting - left with 5 hours.

We spend 1 hour preparing and eating dinner - left with 4 hours

How you spend these four hours tells where you're headed in the future.

Here's how 1 group of people spend these four hours:
  • They start a side business.
  • They study to improve their skills and knowledge.
  • They make business deals
  • They learn a new trade.
  • They get a part-time job to put money into savings and investments.
  • They invest into their children's lives by helping them build memories.
Their mindset? Work now so we can enjoy our tomorrow.

Here's how another people spend these four hours:
  • They watch prime time television.
  • They party with their friends.
  • They spend time watching movies on Netflix & YouTube.
  • They socialize on social networks.
  • They are on the phone (texting, playing games or calling)
Their mindset? Let's enjoy today. Tomorrow might not come.

The result of their habits in a 10 year period? It's pretty evident.

It was eye-opening for me, the first time I heard it. What did you think? Comment below to send me your thoughts.

Steve Jobs' 2005 Stanford Commencement Address

One of the best speeches I have ever heard in my life. Wanted to share it with you if you haven't seen it. Comment your thoughts below.

The four cardinal rules of negotiating

I found these rules in best-selling author Robert G. Allen's book The Road to Wealth. I thought they were very interesting and worth sharing. So, here they are ...
  1. Never make an offer until you understand the seller's problem. The first stages of negotiation are for information gathering. Avoid the temptation to jump to solutions. Without proper diagnosis you might be like the doctor who prescribes medicine for the wrong disease.
  2. Always conduct your negotiation in the context of a win/win philosophy. "This is how you will win Mr. Seller. This is how I will win. At that price, I can't win. At those terms, you can't win. I don't want you to lose. But I don't want to lose either, etc." This lets the seller that you are interested in being fair. Being a win/win negotiator may cost you dollars in the short run but will make you more money in the long run.
  3. In the more advanced stages of negotiation, where solutions to the seller's problems are being discussed, never be the first person to mention a number. Always let the other party make the first move. By avoiding the temptation to mention numbers, you may get the sellers to propose a price and terms that could be significantly better than what you had in mind. This one tip alone will save (make) you thousands of dollars over a lifetime of negotiation.
  4. When forced to mention a number, always start lower than you expect to end up. Why? Because you just might get it and save yourself thousands of dollars. Also, by mentioning a lower number, you leave room for give and take; i.e., the 'let's split the difference' tactic. The other party will be more willing to be flexible if he can see that you are also willing to be flexible.
Hope you find them as useful and interesting as I did.

How would I spend my first paycheck?

If today was the day I got my first paycheck, and knowing what I know today, here's what I would do with it:

First, I would contribute to my employer-sponsored 401(k) plan. I would put as much as my employer's match to my 401(k) plan. In other words, if my employer's match amounts to $2,000 annually, then that is exactly how much I will put in my 401(k).

Next, I would open a Roth IRA account and fund it 100%. Currently, you can put $5,500 if you are under 50 years old and $6,500 if you are over 50. By the way, Roth IRA is primarily a retirement vehicle but can also serve as an emergency fund.

Third, I would open a money-market account. I would put in about $100-200 / month. Why? If I got my first paycheck today, it's likely I am in my late teens or early 20's. I will probably buy a house in the next 5-10-15 years. This account is to help me build my down payment for the house.

Hint: A good financial planner anticipates future situations and plans accordingly.

Lastly, I would figure out how to live on the remainder of the money and also save some of it for my "wants" in life.

Don't think you can do all this on your salary? Get another job. Did you know that Jay Leno always had 2 jobs throughout his life? He saves the earnings of one job and lives on the earnings of the other job. Even as a talk-show host, he had two jobs. He lived on money he earned from his comedy gigs and socked away his earnings from the talk-show.

Goals work when you constantly keep them in sight

75% of the people give up on their goals/resolutions 1 week into the new year. We are now 3-weeks into the new year. Hope you haven't given up on your goal.

I was "lost" when I was about 1-year old. It was a warm day. In order to cool the house, my mom had the doors and windows open. I was playing alone while my mom caught up with her housework. She checked on me every so often, saw me playing and continued with her work. And then, she came to check on me again and did not find me. She ran through the house, but no sign of me. She went out the door, and did not see me. She checked with the neighbors, who didn't know where I was. Within minutes there were 10 adults looking for me in the neighborhood.

Finally, my mom checked under the bed covered with an extra large blanket. And there I was. Sleeping quietly under the bed.

Goals are sort-of like that 1-year-old me. If you don't keep them in your sight at all times, they easily tend to get lost.

Write your goals on paper every morning. It serves as a reminder to work on the things that are important to us. Keep that paper in the pocket you keep your wallet in. So every time you take out your wallet, you will take out your goals as well.

It's almost magical how this works. When you are constantly reminded of your goals, you will find the time and resources needed to accomplish your goal.