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.
CM on a Tightrope.
Kamalnath walking on tight rope trying to balance government while Digvijay Singh & Scindia pulling him down.
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
Chandrayaan 2: Hail ISRO
The space scientists from India add to their glorious history. An incredible feat of lunar exploration met with world wide accolades.
