Economic mindfulness

“Light purse makes a heavy heart.”

~ Benjamin Franklin

Not having enough money can cause one to suffer. The suffering may involve stress, anger, depression, and unhappiness. A lot of them.

Granted that it isn’t your fault if you were born poor, but if you die poor, it implies that you wasted your life.

No, it is not about being overly money-minded in all your actions. It is about giving conscious attention to money and create enough value for the world, so the world has no choice but to reward you with the currencies of the world.

The currencies of the world are not limited to just financial currencies such as Dollars, Pounds, Rupees, and Euros. It includes having remarkable health, enough knowledge to take pride in, personal and professional relationships that flourish you, unique experiences you created or participated in, and more.

Two actions items:

  1. Get a firm grasp of how the economics work. Local and global – both.
  2. Develop a habit of reviewing your career, business, and life decisions from the perspective of finance and economics.

As a byproduct, you will get the necessary clarity that will help you to take the subsequent decisions better.

What is your secret?

“Three may keep a secret, if two of them are dead.”

~ Benjamin Franklin

These ancient words hold true even in today’s world of great transparency, clarity, and intelligence.

Why?

Because, by design, business means the creation of value and creation of value in today’s age has become easier if you have access to information.

Especially for digital businesses, it is easy for people to “copy” your value creation process because of the nature of the digital.

That is why you will see people who keep talking about transparency and clarity, insisting others to sign NDA and have private discussion areas.

Sometimes the secret is your way of “seeing” the world.
Sometimes the secret is a proprietary algorithm.
Sometimes the secret is your use of empathy as a tool.
Sometimes the secret is your boring niche.

When it comes to investing in a business, I look for founders (and their second line leaders if they have them) who know the secret of their personal fire and the secret of their business and when that will be no longer a secret!

This clarity can make or a tank a business.