We all know about Mahendra Singh Dhoni the great India Cricketer with highest winning ratio and his many more achievements in cricket. Let's try to learn some investment basics from
this sporting giant so as to become more successful with our money. I tried to
outline few things which could be very useful for us while managing our money.
1. EVERTHING STARTS WITH A SMALL BEGINNINGS
M.S. Dhoni was small-town boy from a humble
background, however by his game and beliefs he proved that small beginnings
were no hindrance in the path of big achievements. Similarly when it comes to our
money, systematic investment plans are the small beginnings however they can lead
to big earnings over the long-term, thanks to the magic of compounding. The
important thing is to start, be regular and believe that even the biggest goals
can be met.
2. BE COOL IN TURBULENT TIMES
We all know that Dhoni is also called as Mr Cool,
he has taken his team out of crunch situations many times? Numerous, right? This is just because of his cool
mind at difficult times which makes him think clearly to achieve the goals.
Similarly if we are cool and calm during the time of financial instability, it
can be greatly helpful. Whether it's equity market crash or a medical emergency
or a sudden loss of job/income, panicking doesn’t help but makes matters worse.
Instead of that if we stay calm and tackle the situation with a clear head in
order to make the right decisions we can easily come out of the situation and
do better.
3. LEARNING IS A CONTINIUOS EXECISE
Dhoni wanted to be footballer, but actually went
into cricket. However he turned out to be a natural sportsman not just a
footballer, he learned the game and worked on improving himself in every aspect
of it. In case of money, most of us know enough about how to earn and spend it,
but not enough to make it grow. By learning some basic knowledge we can make a difference
in our finances. Few basic things like the basic economic functions, need of insurance,
various options of investments, can get us some clarity on how various things
works and its impact on our finance. In finance, learning can translate into
earning. Regular learning made Dhoni one of the greatest cricketer of current
times. Regular learning can definitely make us more successful in reaching our
financial goals even if we are not the greatest investors.
4. HAVE FAITH IN WHAT YOU BELIEVE IN
Sometimes we believe on something which nobody else
does however due to fear we don’t take a decision on it. Remember Joginder
Sharma? If we are captain had we even thought of taking him in our team, let
alone give him the final over of a 2007 World Twenty20 in South Africa World Cup to bowl? But Dhoni had faith in him. And
Sharma delivered. We should also stick to our beliefs if have something.
Everyone around us might have an opinion contrary to yours, but if we're
convinced about an asset, sector or financial product then we should go ahead
and put our money where our belief is. As said by someone, “very few people go
against the herd but those who do often turn out to be the biggest winners.”
5. BE DOWN TO EARTH
Dhoni was a great captain and had so many
achievements still he was always humble. He never allowed his success to go to
his head. Similarly as an investor, we should not get carried away by the
successes of our earlier investments. Things can easily go wrong if we lose
sight of our goals. Any of the investment is dependent on a lot of factors,
some of which are beyond our controls. Therefore we should be happy about those
investment which did well but not be overconfident of our achievements and ruin
the future opportunities/options.
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