Why some segments of society are good at doing business?
Interesting question, and in an
ethnically divided society like ours, it is better to find answers and how
some, if not all, of their methods, can be adopted by others as well.
One of the most successful
business communities in the world for centuries has been the Jews.
What are the secrets of their
success?
They are no longer secrets, and
a few methods that they practice can be adopted and practised by others as
well.
The first and foremost one is
honesty in all dealings.
Many would disagree with me
when I say this.
I do not want to deal with
dissenters, but if honesty was missing in their dealing, they would not have
been in business for this long.
Most of the practices are
commandments and they follow them diligently.
One is that a father should
teach his son how to make an honest living and, further, it goes to say, to
teach him how to swim.
It should not be taken
literally and what it means is to teach how to navigate in different and
difficult conditions to survive.
The next one is to have a very
positive relationship with money.
Money is yet another tool to be
used for the betterment of oneself and others, and it is not as evil as some
belief.
Never be too shy or proud to
ask for help from your own community.
If the person standing next to
you in prayer would not help, do you think a total stranger would?
The same with giving.
Give back to your community
first.
Make it a practice to give to
charity.
Muslims recommend 3%, while
Jews recommend 10%.
You can’t wipe out all evils by
just giving to charity, but even if a few would get help, it is better than
doing nothing.
Always aspire to be an owner
rather than a worker.
This rings the entrepreneurial
bell in most people, and it makes good sense too.
Further, never be envious of
another’s success, but rather be happy as you can learn from their experience
and incorporate their methods into your business too.
Another important thing is not
to neglect your bread and butter.
When success knocks, many get
distracted and tend to take their eyes off the ball to pay more attention to
other matters and ventures.
Their success formula is to pay
90% of your attention to your bread and butter, 8% to any future projects, and
the balance of 2% to your dreams.
Never do to others anything you
would not want them to do to you.
In other words, to avoid karmic
repercussions.
Their recommendation for wealth
is to be segregated and hedged, so if one goes bad for a period, others will
provide the necessary cushioning.
The ideal ratio is to have 1/3 of
your wealth in cash, 1/3 in inventory, and the other 1/3 in real estate.
They are more risk-takers than
others because of their strong belief in God.
If we try hard enough, God will
make it happen, is what they believe
If we do not try hard and are
ready to give up, then divine intervention will not come.
Finally, take a day off from
your busy schedule each week to have time for yourself, to pay attention to family
and others' needs, and to be able to come back and resume your day fully
charged for the next six days.
I do not think that any of them
are non-adoptable practices, and therefore anyone can duplicate their success
by simply following those steps.
Disclaimer: The goal of this post is not to elevate or denigrate any group in our society; rather, it is to highlight some simple, doable alternatives for those that struggle.
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