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8 types of people you must avoid because

8 types of people you must avoid because

…They waste your time

Over the years, I have realised that there are certain kinds of people you have to learn to eliminate from your lives if you don’t have to waste your time and become more productive in life!

  1. FIXED MINDSETS PEOPLE
    They are very fixed in how they think, and inflexible in their thinking. They are not even open to any alternative ideas. Once their belief system is set, they are no longer seeking any new information. They will never do any value addition to the conversations. If you try and mobilise them, they will end up getting upset at you. These people never want to grow in life. Hence, they definitely should be avoided if you are ambitious and a high performer.
  2. PEOPLE WITH INCREDIBLE AMOUNT OF EGO
    Confidence is fine, but ego is when a person is excessively attached to his external identity. Always want to improve their social status, but they have no depth or meaning in their life. They may be intellectual in many cases but really lack wisdom. If you spend too much time with them, they start draining you.
  3. THE HYPOCRITES
    A person who says one thing and does another thing. You can’t rely on them, can’t really trust them. They will change to what suits their narrative.
  4. INCOMPETENT PEOPLE
    People who have never really acquired any serious skill set. They are all about relaxing and enjoying themselves. They are non-inspiring people, and it’s always disappointing being around them. They have no desire to acquire any competency around them.
  5. THE COWARDS
    They never stand for what they believe. They do not have the courage to speak up. I see cowardice as a lack of character. I can’t trust these people. When tough times will come, they will retreat. I avoid them both for my personal as well as professional life.
  6. VICTIMS
    They always act like life is happening only to them. They have no power, no energy, no control. They are always blaming the circumstances and blaming the people. They never inwardly reflect on themselves and take responsibility for fixing themselves. They always put accountability on others.
  7. PEOPLE WHO ARE OVERLY SENSITIVE
    They are all about their own feelings. They are so sensitive that they can’t really face the brutal realities of life.
  8. PEOPLE WHO ARE HATEFUL
    They are the envious lot of people. They always spit venom on others. They are always engaging in some sort of personal attack and mockery, because of their envy and insecurity.

BENEFITS OF REAL ESTATE INVESTING

If one were to inquire about the potential happiness of their parents or grandparents today had they purchased properties a few decades or even just a few years ago, it is highly probable that the majority would respond affirmatively. They would likely express their desire to have acquired those properties due to the escalating values observed in today’s market. Now, consider pondering the same question, as it is highly likely that your own grandchildren will pose it to you someday. Endeavor to avoid becoming the person who laments, “we should have bought.”
Instead, invest now to reap the long-term rewards…
There are many self-made millionaires who have created wealth from real estate. Real estate is the foundational source of wealth. Obviously, there are risks with real estate, just like any other investment.
Let’s understand 6 primary benefits of investing in real estate:

  1. CAPITAL GROWTH
    If you buy well and give due consideration to the location, there is a very high probability of Capital growth. This is called appreciation, which creates wealth for people.
  2. YIELD
    This means rent. If you are able to lease out your property, you realise that as the cost of living increases, it increases the rent. This, over a period of time, creates passive income source.
  3. TAXATION BENEFIT
    If you own real estate assets and incur expenses of holding that asset, and if you end up producing a net loss with those expenses, that loss can be offset against your payable income tax. This creates the tax benefits. Also, if you own real estate in the right ownership structures, e.g., in the name of trusts and companies, they can distribute the income from that asset in the most tax-effective manner. Another way of getting tax benefits is by claiming depreciation.
  4. FORCED APPRECIATION
    To be able to manufacture additional capital growth. This can be done by making improvements to the property- cosmetic level renovation or structural improvements. This helps not just in improving the capital value of your asset but also in attracting higher rentals.
  5. LEVERAGE ADVANTAGE
    Some of the smart investors put all their capital into buying real estate. They put enough to have a deposit, and the rest is borrowed from Banks. Now, with this purchase, the value of the asset appreciates on its full amount, including both components. This is how smart investors boost their wealth and accelerate their financial success.
  6. FANTASTIC INTER-GENERATIONAL WEALTH ASSET
    We find that people who are wealthy and are from second and third generations are majorly because their ancestors decided to pass on their real estate assets to the next generation. Over a long period, especially over 20-30 years, the real estate asset can grow significantly and create long-lasting wealth intergenerationally.

Though this all sounds so interesting on the surface, the fact is that real estate carries its own set of risks aswell. You need to be smart and savvy, you need to know your numbers, you need to know how lending works, and you need to have your emergency funds in order, and you need to do your research well to buy the real estate!

RISKS ASSOCIATED WITH STOCK MARKET INVESTING

We can never eliminate these risks. We can only minimize and mitigate these risk factors.
The first of those is called market risk. Even if you buy good stocks, if something is happening in the global economy and has the power to change the market dynamics, it can still adversely affect the stock prices or your dividends. Sometimes this market risk can also take the form of legislation change, or it could be a natural disaster, etc. The best way to handle this is that when you have bought good stocks, the only way is to ride it out, meaning as long as you’re not concentrated in 2-3 stocks, when these market risks happen, just sit through these turmoil times, wait for the market correction, which historically has happened most of the times.
The second risk is called the concentration risk. It means you are too concentrated to a particular company or on a particular industry or a location. This, at times, also creates much risk. Eg- you buy a good stock, but the location at which you are buying may be experiencing some volatility like a natural disaster, economic policy change, war, etc. This would certainly affect the stock price, even though the company, as a standalone, had good prospects. Now since you were not spread, a loss in this stock could be a consequence. The way to manage that is to have proper diversity in your portfolio, where you have stocks evenly spread across a few industries and across a few locations. Also, one should expose your stocks to large, medium, and small-size companies.
The third type of risk is called sequencing risk. It refers to the period when you have recently bought your stocks or created your investment portfolio, meaning it has a shorter time frame. To mitigate this risk, your investment gestation period should be about 10 years plus. The reduction in stock prices if any, is easier to recover in a longer time frame than a shorter one.

COMMON MISTAKE WHILE WE ENROL GROUP COACHING CLIENTS

MISTAKE WHILE WE ENROL GROUP COACHING CLIENTS

The fundamental reason why we at times fail to enrol a group of clients altogether is UNCLEAR VALUE PROPOSITION. People who sign up for a group coaching program usually sign up for very particular results. So, you have to be very clear as to what is the outcome that your client can expect and the timeline attached to it. The clearer will be your value proposition, the easier it will be your clients to say a Yes.

The second reason is INEFFECTIVE MARKETING STRATEGIES. The internet marketing is per say so much surrounded by the idea of ‘launches’ that we think that everything should eventually be a launch. Yes, in case you have strong social media network, or you have a mass email list, they you can certainly wait for many people to enrol and then you launch start your program. But what if this is not the case. Then the coach must focus on small daily interactions with potential participants. Depending on where you are in your journey, your marketing strategies need to be moulded.

The next level of mistake is done with POOR PROGRAM STRUCTURE. The structure has to include high engagements, weekly outcomes, follow-ups. This improves the quality of outcomes that you can create for your clients.

The fourth reason I state is called LACK OF EVIDENCE That is where it is very important that our records include stories or social proof about the quality of outcomes that you can create. It may also mean ‘Lead by example’. Be the example of the outcome that you promise your clients. Narrate stories of past, maybe without particulars of the clients as there be NDAs or non-compete signed. This will help the clients believe in you and believe in themselves also.

The last to enlist is PRICING & PAYMENT PLAN. It is hesitant factor. Usually if we give our clients what they seek, they are very honourable people. Offer extended payment plans and alike for people to be able to afford your coaching programs. Results create the value.

Tech Tools you absolutely need in your coaching business

Tech Tools you absolutely need in your coaching business

Your entire work depends on your presence and your words. While we are doing most of our coaching online in this high-tech world, it’s important to understand few of the very important tools that enhance our coaching communications. The first to start with is a clear microphone. We don’t at times realise that clarity of our voice plays a very important and impactful role in our online communication. Though there are many reliable variants, but I suggest the Shure MV 7 Microphone. Though it’s a little heavier mic and needs a stand for set up on your desk system, but it makes you sound like talking from a radio station. It’s really crisp and clear with a great audio quality. A totally worthy investment.
The second key element is how you look. It’s important to have a clarity of how you look when you are in an online set-up. Sometimes maybe the inbuilt camera quality of your system may not be as strong. So it is suggested to have a high tech camera which fits on the top of your system and gives a clearer longevity. I also invite to look into the background of where you sit. Pick a spot in your house or office or wherever you sit, to make a background which looks inviting.
The third gadget with a personal suggestion is using a Calendy. It is a very fine tech for Calendar scheduling. After a point our coaching activity gets chaotic, we end up wasting a lot of time on going back and forth on scheduling our calendars or keep looking for emails of rescheduling. So once we coach a client, we have to give them a power to schedule/ reschedule their calendars at an appropriate time that works for them. It also makes sure that you don’t have unnecessary things or unnecessary times booked on your calendar. So this kind of a simple software really optimises your time and schedule and space to be able to do your work in a more focussed manner and focus on the management of your work.
The final tool that I suggest is a Note-taking tool during your classes. Even if for yourself, its useful to take and mark your notes. So, if you are doing a call on the Zoom platform, it has got an inbuilt AI tool called Fathom. This tool marks your important points and helps create an automatic summary of the same. Since it’s an AI Tool, I suggest that you should take the due permission from your client. If agreed upon, then I really believe that your note taking becomes incredibly easy and makes the whole work experience even more productive. So as fast as it is to make the notes, it’s as fast to share the same with your clients. AI can take notes for you and you can very very easily review your notes.

AI v/s Human Debate

Will AI replace the coaches?

It is important for us to know that AI will play a very important role in our society overall and a very important role in our coaching businesses too.

The scenario will not be AI vs coaching but will be AI hands in hands with coaching.

So, if you ask AI for a plan on how to lose weight, it will answer you in fraction of seconds, with availability 24*7. But, when you are sitting with a client, AI doesn’t have an emotional variability to work with a client. It’s about we all want to make more money, we all want to stay fit and gain that extra muscle! But it’s not just about knowing how to lose weight, we all know that, AI shows 100 plans to help lose weight and gain the muscle. We always had access to that. But then, to get to do that plan, is where we as a coach come in. Hence, the amalgamation of AI and coaching is the dance of information and experience. As a coach, AI can help you find an information. But AI will not be able to have the ability of human experience. AI can look into an insight, an intuition, an adaptability required too, which is only humanly available. When you work with an individual, everything is very individualised, very personal to a particular person. It at times may sound illogical to a logical entity like AI.

Now the question is how far do we push AI? While the information of AI is generated by corporations like google, Microsoft and alike, although the human being while are very open and public, there is certainly a set of information that we want to be private and confidential especially the information that talks about our fears, nuances, emotions etc. We don’t like to have them publicly available to a software. Therefore, at all times, we may not be very comfortable to provide all our information to AI and that is where human to human interaction becomes more valuable.

With AI we have become efficient and more productive, we have more time with us. If we as coaches don’t show up now and become more important, we are at risk of letting our society succumb to all that time. And go into a negative mental spiral.

Role of health in business

What is the role of health in terms of when we are building our businesses.
While we keep ourselves financially very sound, we end up taking our health only as an afterthought. Also, one thinks that health has no direct relation to what you do in your business.
At 36 years people have starting operating as 70 years old. There has to be somewhere a moment of self-realisation where you see yourself quite uninspiring to your kids, to your clients and family.
The social narrative is that we don’t acknowledge someone who is fitter and healthier but we acknowledge someone who is successful. We see ourselves as what we have and not really as who we are! The day you realise importance of good health, you will start prioritising everything else but your health.
Secondly, food has always been our comfort across the globe! With increased accessibility to food, the people have starting eating more than they should. Not just because they need that much, but also because it gives us the emotional comfort.
We see immediate future and lack long term vision.
There is this beautiful concept called Body talk. We never think of seeing ourselves in the mirror and talk to ourselves. When you start talking to yourself and your body, your body starts talking back to you. In that case when you eat something, you will come to know how you feel when you have eaten that. So now when your body tells that to you, you realise that oh, I shouldn’t have eaten that.
Our body movement plays an equal important role. We have to also realise that our body loves being soar. When it gets soar, it gets stronger.
Another takeaway is to learn to suspend the timeline. Don’t expect immediate results. So it may take its time, it at times can end up being frustrating too. If I abused my body for 36 years, I will have to agree to give it atleast 36 months to know how to love it back.

2000 notes are legal tender till 30th September 2023

The notes issued by RBI does not have any value until or unless they are signed by our Governor. If we see a note of 2,000/- it does not have any value of it’s paper. But until they are recognised as legal by GOI and RBI, they are having value of 2,000/-. This means legal tender of Money.

For example, if we go to market and take anything then we cannot buy it against old 1000 and 500 notes as RBI and GOI has taken them as legal tender… Actually, Notes do not have any value of it’s own, it’s just a piece of paper but since Govt has Legal Tender, then only they have value

So this means that 2000 notes are legal tender till 30th September 2023 and later to that they won’t have any value.

THINK BEFORE ITS TOO LATE!

Let’s not be our own secret safe for non-disclosure of our investments. This is an eye-opener data:-

  • Rs. 82,025 Cr estimated investor wealth is lying idle in unclaimed Accounts
  • Rs 18,381 Cr lying in unclaimed Bank Accounts
  • Rs. 15,167 Cr lying unclaimed with Insurance Companies
  • Rs. 17,880 Cr lying in inactive Mutual Fund folios
  • Rs. 4,100 Cr of unclaimed dividend lying in IEPF
  • Rs. 26,497 Cr is lying unclaimed in Provident Fund Accounts

What is the Solution

👨‍👨‍👧‍👦Keep family informed about finances

👨‍❤️‍💋‍👨Always ensure, in all your investments/accounts, you register your nominee without fail

📜Write a Will as that will ensure a seamless settlement/flow of assets

📩Keep updating details regarding changes in nominee, address, redemption, top-ups etc.  – if any, as and when they take place

🗄Keep your Deposits in one Branch, as far as possible.  Remember, if you keep in many Branches of multiple Banks, you’re are making way for unclaimed deposits in future

💳Maintain only one Credit Card, as far as possible. This would help you to manage your repayments properly and on time. Remember, each Credit Card carries handsome personal insurance and be aware of the same

📑Keep your Trading and Demat account with one or two Brokers. However, it is advisable to shift to one entity

📁Beware of and do visit your Brokers office, Bank Branch, Insurance Company offices once in a while and maintain a relationship. In case of eventuality, they will inform your family.

💶Never invest on your own as you may not always be proficient in investments and money market operations.  Engage the services of an experienced Advisor or Intermediary to get the best and remain with them to avail seamless services.  Even if you forget, all your investment info will be with the Advisor and he shall pass on to your family.

📝Last, but not the least, see that your data is documented properly. Write down details of all your investments – Bank Accounts, Insurance Policies, Provident Fund, Mutual Fund folios, Post Office Saving Schemes, Credit Cards, Shares, outstanding loans in a book and let all your family members be aware of it.

Afterall, it is your hard-earned money and you and your family have all the ✅ rights and privileges to enjoy the same!.

I am strong

I didn’t want to wake up. I was having a much better time sleeping. And that’s really sad. It was almost like a reverse nightmare, like when you wake up from a nightmare you’re so relieved. I woke up into a nightmare.I can’t eat and I can’t sleep. I’m not doing well in terms of being a functional human.I waste at least an hour every day lying in bed. Then I waste time pacing. I waste time thinking. I waste time being quiet and not saying anything because I’m afraid I’ll stutter.My heart kept shattering into ever-finer bits every day .Some moments of pure bliss filled with laughter that echoed throughout the night as time flew from our grasps.Others of darkness that seemed to go on endlessly, turning miliseconds into an eternity.A constant reminder that I still existed
It’ll be hard.
But I am strong…..

– Aarna Chopra