A Short Summary of The Black Swan
The book has helped us to understand black swan which are unpredictable not because it’s random, but because our outlook on what’s possible was too narrow.Here’s a look at the key lessons from the book.
Sensex Celebrates Corporate Income Tax Rate Cuts
The Industry experts are hailing the corporate income tax rate cuts in India from 30% to 22% as one of the boldest moves. India’s stock market went on a rampage and surged more in a single day than it ever did in the last ten years.
The Sensex skyrocketed over 1,921 points on Friday after Nirmala Sitharaman, Finance Minister of India, announced major relief and incentives for the economy. The Sensex closed at 38,014.62 on 20th September gaining over 5.35%. The Nify gained 569.4 points to end at 5.32%. The market clearly responded positively to the corporate tax cut announcements.
The effective corporate tax rate after including surcharge & cess would be 25.17%. The benefits will be available to all domestic companies not availing exemptions & government incentives.
Boost across Sectors
The corporate tax rate cut will be effective from 1st April 2019. This means companies which have already paid advance taxes will get refunds from the government. The cashflow for companies will be helpful in various sectors.
The finance minister announced further rebates for new domestic companies incorporated in India after 1st October 2019, these companies will pay income tax at 15%. The effective rate income tax rate after surchage and cess would be 17%. These companies will need to start their product before 31st March 2023 though.
India as an Investment Destination
Singapore has been one of the most favorite destinations for investors, it has a corporate tax of 17%. China & Korea have a corporate tax of 25%. India now has a tax rate on par with the lowest in South East Asia. UK has a corporate income tax of 19%, USA 27%, Japan & Germany 30% & Brazil 34%.
The tax rebates are likely to increase the investments and make India one of the most attractive destinations for investors. With a serviced based economy, India is likely to benefit from this rate cut by projecting itself as a manufacturing hub. India is home to a huge and skilled workforce as well.
Business Leaders Welcome the Move
The increased earnings for companies in India due to reduced tax outgo will make the investors happy. The automobile sector in India may pass some of the benefits to the customers with discounts in the festive season. The slowdown in the automobile sector has been an area of concern and these steps will go a long way to resurrect things.
Mahindra group Chairman, Anand Mahindra welcomed the move by the Finance Minister. He tweeted,
“Woke up in the US to this news. The best way to start the day. Not only because companies will pay less tax. But because this isn’t just another policy tweak. @nsitharaman fired a shot that will be heard around the world. India has sent an invitation letter to global investors,”
After the rate cut announcement, several business leaders including Kiran Mazumdar Shaw, CMD, Biocon, have expressed their pleasure at the move.
“Corporate Tax Rate Cut From 30% To 25.2% To Spur Growth- this is a great move which will firmly revive growth n investment. My hats off to FM @nsitharaman for this bold but most needed move.”
“Money available for reinvestment and paying better dividend will be there. You can plough back money and make the company stronger because only 25 percent goes in taxes. It is a great boon.” said Deepak Parekh, Chairman, HDFC
The announcements by government have had a strong impact on the Indian markets and overall sentiment is quite positive. It looks like Diwali has come early for the Indian corporates.
Leadership Lessons from Jack Ma
Jack Ma is a rockstar. He founded one of the most successful companies on the planet, Alibaba. Jack has been able to connect with entrepreneurs and professionals all over the world.
He has rare charisma and flair that makes people smile. His storytelling abilities have influenced the world and made one of the most successful ecommerce empires of our times.
Jack Ma started his career as a school teacher. He failed at most things he tried, but went on to bigger things in life with every setback. He talks about his failures candidly and gives inspiration to young people.
People all over the world love Jack Ma, they are eager to follow his leadership qualities and find the secrets of his success. Jack Ma is an entertainer, he connects with people effortlessly and his vision for the future will have an impact.
As he retires from the chairmanship of Alibaba, we look at some of the great leadership wisdom from Jack Ma.
1. Unite People under a Single Goal
Ma started the ecommerce company 2 decades back in 1998. Back then people were getting used to internet. Jack Ma started building his dream with his friends and students.
He convinced employees, business partners, investors and worked hard to realise the dream of Alibaba. He united everyone with a common goal. He fought like a wartime commander even when there seemed little hope.
He has been able to successfully unite his company under a common goal. It is the goal and the vision that matters more than individuals.
2. Right People
As a start-up and young business, it is hard to get the most talented people. When Jack Ma started the company in his apartment, he didnt find the best people. Infact, he could only find people who couldnt find a job elsewhere. But they stuck with Alibaba and that made the difference.
Ma emphasises how important it is to get the right people who are not necessarily the best people. Talented people may not have the determination to slog long hours or work relentlessly to succeed in a start-up.
“You need the right people with you, not the best people.” Jack Ma
3. Thought Process
Jack Ma had clear goals for Alibaba. He started building an ecosystem that will facilitate and make other people successful. Alibaba built a platform that enabled other people to buy and sell on their platform. They built the complete platform before most people knew what ecommerce meant.
Jack Ma focused on making progress even when they didnt make money. He remembers that people thanking him for Alibaba was the early days incentive for building the platform.
“If you want to win in the 21st century, you have to empower others, making sure other people are better than you. Then you will be successful.” Jack Ma
4. Look for Opportunities
When people are complaining, you need to look for opportunities. This has been the mantra for Jack Ma. He says people resort to complaining and whining, it drains their energy. Instead you should look for opportunities where people complain. You should build solutions and solve problems. This is the essence of entrepreneurship, finding solutions to pain points of others.
Yahoo’s investment in Alibaba was the turning point. Yahoo invested US $1 billion & there was no looking back from then.
“Failure is the road you will travel to success. Just be sure to take the correct exit.” Jack Ma
5. Dealing with Rejections
Jack Ma shares this funny anecdote, “There’s an examination for young people to go to university. I failed it three times. I failed a lot. So I applied to 30 different jobs and got rejected. I went for a job with the police; they said, ‘You’re no good.’ I even went to KFC when it came to my city. Twenty-four people went for the job. I was the only one rejected.”
As a leader, you have to learn to deal with rejections. You need to move on and keep progressing. All things that don’t work out will eventually lead in the right direction, if you don’t give up.
6. Competition
Jack Ma believes competition is good and shapes you into a better version of yourself. He has immense respect for Amazon, ebay and Tencent etc. The competition is where you can learn from and improve yourself. He says, “You should learn from your competitor but never copy. Copy and you die.”
7. Have Fun
Jack Ma said “I always tell myself that we are born here not to work, but to enjoy life. We are here to make things better for one another, and not to work. If you are spending your whole life working, you will certainly regret it.”
He retired from his position with a rockshow performance that typically epitomises Jack Ma and his philosophy. He has worked hard and also had a good time building Alibaba. He goes back to teaching profession and his calling as he retires from Alibaba.
Jack Ma has been an inspiration to the next generation of entrepreneurs. His personality, positivity and ideas will continue to make the world a better place. His story is a remarkable feat of extraordinary accomplishments grounded in humility.
Take a bow Jack Ma.
Magnetic Marketing: How to Attract the Right Customers
Digital business is all about attracting right customer and opportunities to your business .
31 Motivational Quotes by Famous People
Your life was never meant to be mediocre. You can push yourself in the direction of greatness the moment you want. Your actions, however small they may seem are constantly shaping your identity and creating an impact. Here’s a look at some of the best motivational quotes to pep you up.
1. “When we strive to become better than we are, everything around us becomes better too.”
Paulo Coelho
2. “Questions provide the key to unlocking our unlimited potential.”
Anthony Robbins
3. “All our dreams can come true, if we have the courage to pursue them.”
Walt Disney
4. “There is nothing more powerful in the world than the idea that came in time.”
Victor Hugo
5. “You can’t give up! When you give up, you’re like everybody else!”
Chris Evert
6. “Reality is created by the mind, we can change our reality by changing our mind.”
Plato
7. “You should never let your fears prevent you from doing what you know is right.”
Aung San Suu Kyi
8. “You can never cross the ocean unless you have the courage to lose sight of the shore.”
Christopher Columbus
9. “Everyone thinks of changing the world, but no one thinks of changing himself.”
Lev Nikolaevich Tolstoy
10. “Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”
Earl Nightingale
11. “The limits of the possible can only be defined by going beyond them into the impossible.”
Arthur C. Clarke
12. “Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”
Antoine de Saint-Exupéry
13. “Success is most often achieved by those who don’t know that failure is inevitable.”
Coco Chanel
14. “Only those who play to win. Only those who risk to win. History favors risk-takers. Forgets the timid. Everything else is commentary.”
Iveta Cherneva
15. “Don’t judge each day by the harvest you reap but by the seeds that you plant.”
Robert Louis Stevenson
16. “The Pessimist Sees Difficulty In Every Opportunity. The Optimist Sees Opportunity In Every Difficulty.”
Winston Churchill
17. “If You Are Working On Something That You Really Care About, You Don’t Have To Be Pushed. The Vision Pulls You.”
Steve Jobs
18. “Failure Will Never Overtake Me If My Determination To Succeed Is Strong Enough.”
Og Mandino
19. “The Only Limit To Our Realization Of Tomorrow Will Be Our Doubts Of Today.”
D. Roosevelt
20. “You Are Never Too Old To Set Another Goal Or To Dream A New Dream.”
C.S. Lewis
21. “The secret of happiness, you see, is not found in seeking more, but in developing the capacity to enjoy less.”
Socrates
22. “You have power over your mind – not outside events. Realize this, and you will find strength.”
Marcus Aurelius
23. “The future belongs to those who believe in the beauty of their dreams.”
Eleanor Roosevelt
24. “I Think Goals Should Never Be Easy, They Should Force You To Work, Even If They Are Uncomfortable At The Time.”
Michael Phelps
25. “You Don’t Have To Be Great To Start, But You Have To Start To Be Great.”
Zig Ziglar
26. “A Clear Vision, Backed By Definite Plans, Gives You A Tremendous Feeling Of Confidence And Personal Power.”
Brian Tracy
27. “Happiness doesn’t come from doing what we like to do but from liking what we have to do.”
Wilferd Peterson
28. “You’re not defined by your past; you’re prepared by it. You’re stronger, more experienced, and you have greater confidence.”
Joel Osteen
29. “The ability to influence people without irritating them is the most profitable skill you can learn.”
Napoleon Hill
30. “Unless you try to do something beyond what you have already mastered, you will never grow.”
Ralph Waldo Emerson
31. “You could be the world’s best garbage man, the world’s best model; it don’t matter what you do if you’re the best.”
Muhammad Ali
8 Daily Habits of Millionaires backed by Research
More often than not, money is simply a bye product of doing something well. The most passionate individuals, artists, entrepreneurs and professionals love what they do. They build great habits that make them skilful in what they do and they keep moving up the ladder of success.
Most millionaires share common habits and traits that set them apart. These habits and routines help add value, which helps them acquire and sustain wealth. Here’s a look at the daily habits of the self made millionaires:
1. Right Investments
Millionaires make the right investments. They prioritise not just money and time, but also skills and relationships. Millionaires learn the right skills that give them the leverage over others.
Millionaires invest their time in doing things that yield great returns for them in the future. They learn things that make them valuable, build good relationships, prioritise self improvement and take a long term view of things.
By making the right investments, the millionaires set themselves up for a more successful life. According to a study by Corley, the millionaires read two or more books every month. They invest time in reading, improving their skills and learning.
2. Exercise
Countless studies show the benefit of exercise for your brain and body. The millionaires keep their body, mind and spirit in the best shape by exercising. A study revealed that over 76% of millionaires exercise over 30 minutes a day.
According to research conducted on 600 American millionaires by Sarah Stanley Fallaw, millionaires may have more time for exercise because they spend less time on social media. The average American spends 14 hours a week on social media compared to an average millionaire who spends 2.5 hours a week.
3. Work Hard & Create Value
Millionaires work harder than other people. Infact research shows that 86 percent of wealthy people who work full time put in 50 hours or more each week at their career.
The millionaires create value for others and themselves by doing things differently. A majority of the millionaires are into business and create value for others. They work hard and do things innovatively to create value for others.
4. Patience
On average it takes around 32 years to reach the millionaire mark. Yes, most of the people who get to the million figure mark get there after they are 50 years old. Infact, of all millionaires, only 4% of them became millionaires before they were 45 years old.
Millionaires are patient. They know it takes time to build things and they are prepared to fight things out. They are resilient and don’t accept defeat easily.
5. They are Frugal
The average millionaire is more frugal than non millionaires and doesnt spend money on unnecessary things. Even when they can afford luxury items and accessories, millionaires tend not to go overboard with their spending habits.
The average millionaire avoids credit cards, debts and depreciating assets.
As Warren Buffett says, “If you buy things you don’t need, you will soon sell things you need.”
6. Self Improvement & Learning
What you know today will have very little significance tomorrow. The only thing that counts is constant learning and growth. When it comes to millionaires, they spend quality time reading, learning and upgrading themselves to a better version all the time.
Corley’s research revealed 88% of the rich devote thirty minutes or more to self-education or self-improvement reading every day.
The habit of self learning, improving oneself and acquiring the skills needed in the competitive world puts millionaires on a different level.
7. Bounce Back
It takes time to become a millionaire. The average is approximately 32 years. Even if you started by 21, you will need to wait until 53 to be a millionaire.
Millionaires have an inherent tendency to bounce back after failures. They know how to handle pressure, tough times and bounce back stronger. They are gritty and learn from their mistakes.
Stanely’s research showed that the average millionaire goes bankrupt 3.5 times before they eventually succeed. It goes to show that the millionaires have higher commitment levels than most other people.
8. Hang Out with Successful People
Millionaires hang out with successful people. They know that the time they spend with people will have a bearing on their life. They build relationships and peer groups of people where they can learn things.
When you hang out with winners, you pick up their daily habits, strategies, and mindset. You know where the industry is headed and how you can prepare yourself for the upcoming challenges. People with strong networks are also able to get things done with relative ease.
Jim Rohn once said, “You are the average of the five people you spend the most time with.” For millionaires, “Your net worth is the average of five people you spend the most time with.”
9 Key Lessons from the book Leadership & Self Deception
The book has helped many top leaders around the world. It introduces powerful concept
of self deception.
8 Solid Hacks to Improve the Quality of Your Work
What you do and how well you do it defines you. The greatest professionals and top achievers in any field excel because they are passionate about their work. It is rare to see anyone who reaches the top hating what his work.
The quality of work often separates the ordinary people from the top achievers. With tight deadlines, constantly changing priorities and uncertainties looming in your head, it can be hard to stay focused.
But the top professionals always find a way to achieve consistency and deliver high quality work. Infact, they are rated top professionals owing to the quality of what they do.
Here’s a look at 8 hacks which will help you to improve the quality of your work.
1. Spirit of Work
Your work occupies the largest part of your day and mindspace. You cannot do well in your life, unless you do things with the right spirit. The energy and spirit with which you work is very important. Hate your boss, but love your work. The quality of your work will never let you down.
If you don’t like what you do, switch track and pursue what you love. Quality work will open the doors to the greatest opportunities of your life.
2. Negative Feedback
It sounds counterintuitive, but negative feedback shapes the quality of your work. When you want to improve continuously, you need to seek ways where you can do better.
It is also equally important to understand that negative or constructive feedback can pinpoint areas for improvement. A Harvard study revealed that when the negative feedback comes from someone who values you, it can help you improve and grow.
When the intention behind the negative feedback is positive & comes from someone who knows your craft, it can push you in the right direction. It can make you aware of your blind spots that you need to work on.
3. Taking Ownership
The guys who produce the best work are those who own things they work on. It means putting yourself in the line of fire and acknowledging your mistakes.
It means doing everything it takes to get things done and taking full responsibility for what you do. When you work with full commitment and energy, it multiplies your opportunities.
Great athletes, artists, scientists and professionals are recognized by the best work of their lives. When you work with an attitude of ownership, you care about the results and do your best.
4. Quit multitasking
Multitasking often leads to mediocrity. It is a sure fire way of diluting the quality of your work. Several studies have shown that multitasking robs you of quality work. It causes distractions and leads to poor productivity.
Our brains are geared to handle one task at a time. When we do things with full attention, the quality of the work is elevated. In other words, you need to put all your mental energy into the task to get the best outcomes.
5. Tools & Technology
We are all hard pressed to do things faster and better all the time. The rate at which things are progressing, we need to make the best use of time available at our disposal. The top professionals in various fields know and learn to use the best technology and tools available for them.
Whether it is the latest app, gadgets, other tools and technologies, find out what works for you. Using the best tools and technology can help you become more efficient in your work. It can help you gain significant advantage over others who don’t use them or use them inefficiently.
6. Be Honest
People who stand out from the crowd are driven by very strong values. They know what they are doing and why they are doing them. You cannot cheat your way to success in life. There is a price you need to pay for everything you do.
When you are honest with yourself and you do your best, there is great satisfaction. You are mentally free from all complexities and can do really well in your chosen field.
“If you want to be successful, you must respect one rule – Never lie to yourself.”
Paulo Coelho.
7. Everyone Makes Mistakes
Mistakes are fine as long as you don’t make them intentionally. When you are doing something new and creative, mistakes happen. The best thing is to move on quickly and learn from those mistakes. The lessons from mistakes can be applied to your work going forward.
Moving forward is the key. When you make mistakes, acknowledge them and move forward. Forgive yourself and take the next course of action that will help you do better work. Mistakes are signs of progress, provided you own them and move forward.
8. Humility
Arrogance rarely leads to sustained excellence. What you are doing today will be irrelevant tomorrow. The key is to evolve with the changing times and needs. When people become cocky, they become closed to other people’s opinions and feedback.
When you are humble, you acknowledge people and things around you. You are more receptive to feedback and can adapt according to the situation. Quality work demands adaptability, change and constant focus. Without humility, it is easy to lose perspective on things.
The 7 Most Stunningly Beautiful Destinations in the World
The world is astonishing and full of beautiful places. For travelers and backpackers, the excitement of exploring new sites is second to none. The natural wonders are scenic and soothing for visitors. The journey quite exhilarating and fun.
Here we look at some of the stunning, mysterious and breath taking landmarks around the world. These attractions are easily fit for your bucket list. Each of these destinations offer extraordinary and enthralling experiences to savour.
1. Plitvice Lakes, Croatia
Plitvice Lakes National Park is full of scenic and natural beauty. It is one of the largest parks in Croatia. It covers an area of 296.85 square kilometers and attracts over 1 million visitors every year.
The national park is best known for 16 crystalline lakes that join one another through a string of fountains and waterfalls. The park also has flourishing wildlife and not to mention the colourful butterflies that add to the amazement of the hikes.
The lakes are mesmerizingly beautiful all through the year, especially when magical fall colors the trees. Summer is the time when visitors flock the park, but the frozen winters are equally tantalising.
2. Grand Canyon, USA
The Grand Canyon is quite staggering. It is as astonishing as it is beautiful. The Grand Canyon is located in Arizona, USA. The layers of red rock are all over the place. The length of Grand Canyon is 277 miles (477Km), width upto 18 miles (29Km) and depth of over 1.15 mile (1.857 Km).
There are numerous ways tourists can enjoy the gigantic Canyon. Visitors can take helicopter tours, walk, hike, take rides, bike, and boat on the Colorado River.
3. Bagan, Myanmar
Located in central Myanmar, Bagan is an archaeological area and ancient city. The city was the capital of the Pagan Kingdom from the 9th to the 13th century.
The site is quite magnificient and attracts tourists from around the world. It has one of the largest number of Buddhist temples in the world. Most of these temples are ancient and date back to the 9th and 13th centuries. There are many monasteries in Bagan too. The kingdom had over 4,416 Buddhist temples, of which 2,217 temples still survive to this day.
4. Iguazu Falls, Argentina/Brazil border
One of the natural wonders of the world, this chain of mini waterfalls is one of the planet’s most awesome and breathtaking sights.
A visit to this site is a thrilling experience. The power and noise of the cascades, a chain of hundreds of waterfalls falling from nearly 80m and 3km in extension is something worth witnessing.
The falls are split between Brazil and Argentina in a large expanse of national park. Most of it is rainforest teeming with unique flora and fauna.
5. Arashiyama Bamboo Forest, Japan
The Arashiyama Bamboo Forest in Japan is a spectacular site. Visited by many, the serene space boasts countless towering green bines that fill you with awe and energy as you walk through.
The experience even extends beyond the visual realm now. In 1996, Japan’s Environment ministry included the sounds here for wood creaking, leaves rustling. It is one of the top 100 Soundscapes of Japan.
6. Maroon Bells, USA
Located at about 10 miles from Aspen, Colorado, the Maroon Bells are two 14,000-foot peaks in the Elk Mountains that are reflected in a crystal clear Maroon Lake. The glacial valley adds to the ambience of the place.
They are known as the crown jewels of the Rocky Mountains. The sunlight makes the appearance of a golden crown on the snowy mountains. It is easily one of the most photographed sites in the USA.
7. Amalfi Coast, Italy
The Amalfi Coast is a popular tourist destination in Italy, in the Campania region. The 50Km stretch of coastline along the southern edge of Italy’s Sorrento Peninsula is one of the most attractive places in the world.
The place boasts of a mediterranean landscape, cliffs and small beaches. Amalfi has a buoyant vibe, great atmosphere and lovely views. There are lots of shops and restaurants too. There are thousands of tourists all over Amalfi Coast. The boat ride can make your journey quite stunning.
If you have any suggestions for places to add to this list, please leave your comments below.
