Tuesday, October 21, 2008

How to be wealthy??

Yesterday I was watching NDTV Good Times and happened to watch an interview with Vinod Sethi, ex-Morgan Stanley CIO and founder of NY based private equity firm, Sethi Capital Inc. with an ambitious target of investing in tomorrow's companies. Sethi identifies potential Narayana Murthys, Premjis, Munjals, and Sekhsarias-early, and invests in their companies. I also read up a little on his life and passions. Sethi has an excellent track record in his academic and professional life, besides that he does Kung Fu (his latest passion), yoga reading and what not. Sethi struck me as a niche professional unlike our CEO role models, who are all-rounders, who leveraged on his expertise in Finance to the fullest. He holds the ability to identify potential trend-setters, which I believe is a rare quality, as the most of us run after those who have already established themselves. But who can tell today, as to who are those potential future role models! These guys have some foresight...

The interview featured around getting his opinion on what he thought of how certain people today are wealthy in every way. Why are some people at the top in whatever they do? Why are they more wealthy than the others? What are those traits that such a person possess that gets them above the rest of us? I was appalled by his answers, not because they were brilliant or mind-blowing, but for the fact that they were so simple, practical and basic. Most often we want great people to say things that will sweep us off our feet, but more often than none, it is these people who give you the simplest of answers that seem workable! After raving about his simplicity and pragmatism let me list a few things he said to sum all this up...

1. Be focussed in life and your career.
2. Identify your potential and do what you do best, to the best of your abilities.
3. While you are doing what you do best, don't bother about the results or the wealth you could potentially earn if you do it. He said wealth just comes by when you do what you are best at!!

Some qualities that he thinks all great wealthy people possess are:
1. They are all mavericks ( i believe this)
2. Their conviction in what they do and believe, drives them all the time
3. They give away what they earn and wealth flows back to them (amazing)
4. They are all early-risers (this one got me thinking :P) he said this gives them time to have time for themselves, plan their day ahead of time, hence have more time to themselves. (makes sense does it)
5. Finally, he said they have great integrity!!

Great pieces of advise, and seems that's all so simple, but isn't it a lot?? Feel like am going insane reading this list....