Warren Buffet's Advice For 2009 - The Year Of The Meltdown

Google “Warren Buffet’s advice for 2009” and there are a lot of websites that have this piece of advice on them. I just couldn’t help sharing it with my readers. So here you go

We begin this New Year with dampened enthusiasm and dented optimism. Our happiness is diluted and our peace is threatened by the financial illness that has infected our families, organizations and nations. Everyone is desperate to find a remedy that will cure their financial illness and help them recover their financial health. They expect the financial experts to provide them with remedies, forgetting the fact that it is these experts who created this financial mess.

Every new year, I adopt a couple of old maxims as my beacons to guide my future. This self-prescribed therapy has ensured that with each passing year, I grow wiser and not older. This year, I invite you to tap into the financial wisdom of our elders along with me, and become financially wiser.

Hard work - All hard work bring a profit, but mere talk leads only to poverty.
Laziness - A sleeping lobster is carried away by the water current.
Earnings - Never depend on a single source of income. [At least make your Investments get you second earning]
Spending - If you buy things you don't need, you'll soon sell things you need.
Savings - Don't save what is left after spending; Spend what is left after saving.
Borrowings - The borrower becomes the lender's slave.
Accounting - It's no use carrying an umbrella, if your shoes are leaking.
Auditing - Beware of little expenses; A small leak can sink a large ship.
Risk-taking - Never test the depth of the river with both feet. [ Have an alternate plan ready ]
Investment - Don't put all your eggs in one basket.

I'm certain that those who have already been practicing these principles remain financially healthy. I'm equally confident that those who resolve to start practicing these principles will quickly regain their financial health.

Let us become wiser and lead a happy, healthy, prosperous and peaceful life.


Feel welcome to post your thoughts, views and questions in the comments.

For more entrepreneurial talk and ideas visit the Home Page of my blog

Copyright © Dennis D Maliekal

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The Importance Of Changing Your Perspective

I received this story from a friend of mine as an e-mail forward. It is a fantastic story with its central theme focused at how things can changes when we change our perspective. I do not know the source from where this story originated from. If any of you have this information please feel to add it into the comments and I’ll update this post with credit given to you ofcourse :-)

Read On ….


This Story is about a man who once upon a time was selling Hotdogs by the roadside.
He was illiterate, so he never read newspapers.
He was hard of hearing, so he never listened to the radio.
His eyes were weak, so he never watched television.
But enthusiastically, he sold lots of hotdogs.
He was smart enough to offer some attractive schemes to increase his sales.

His sales and profit went up. He ordered more a more raw material and buns and use to sale more.
He recruited few more supporting staff to serve more customers. He started offering home deliveries. Eventually he got himself a bigger and better stove.
As his business was growing, the son, who had recently graduated from College, joined his father.

Then something strange happened.
The son asked, "Dad, aren't you aware of the great recession that is coming our way?"
The father replied, "No, but tell me about it." The son said, "The international situation is terrible. The domestic situation is even worse. We should be prepared for the coming bad times."
The man thought that since his son had been to college, read the papers, listened to the radio and watched TV.
He ought to know and his advice should not be taken lightly.

So the next day onwards, the father cut down the his raw material order and buns, took down the colorful signboard, removed all the special schemes he was offering to the customers and was no
longer as enthusiastic. He reduced his staff strength by giving layoffs.
Very soon, fewer and fewer people bothered to stop at his hotdog stand.
And his sales started coming down rapidly, same is the profit.
The father said to his son, "Son, you were right".
"We are in the middle of a recession and crisis. I am glad you warned me ahead of time."

Moral of The Story: It's all in your MIND! And we actually FUEL this recession much more than we think we do!!!!!!!!!! !!

What can we take away from this story??

1. How many times we confuse intelligence with good judgment?

2. Choose your advisers carefully but use your own judgment

3. A person or an organization will survive forever, if they have the 5 Cs

* Character
* Commitment
* Conviction
* Courtesy
* Courage

The tragedy today is that there are many walking encyclopedias that are living failures.
The More practical and appropriate views on this economic recession is:

"This is the time to reunite together for any small or a big organization, this is the time to motivate and retain people which are the biggest asset,
this is the time to show more commitments to the customers, this is the time show values of our company to the world”

Feel welcome to post your thoughts, views and questions in the comments.

For more entrepreneurial talk and ideas visit the Home Page of my blog

Copyright © Dennis D Maliekal

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A Business Of Your Own

Jonnelle Marte has an interesting article on the Wall Street Journal, on offering tips to the Generation Y entrepreneurs who are to create jobs and lead way as entrepreneurs.

Finding a job in this economy -- even keeping one -- is tough. Tired of the uncertainty, some twenty something are going from job hunting to job creating by starting their own businesses.

Generation Y entrepreneurs have a few advantages here: They're seen as tech-savvy, enthusiastic risk takers with fresh perspectives. But they also tend to lack money, credit histories and managerial experience.

He talks about the 4 Tips that every Generation Y entrepreneur below 30 must examine.

1. Ask For Advice
2. Be realistic on funding
3. Search for targeted loans.
4. Find a good lawyer

Here's the reference link to read more.

Feel welcome to post your thoughts, views and questions in the comments.

For more entrepreneurial talk and ideas visit the Home Page of my blog

Copyright © Dennis D Maliekal

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