The week flew by in a jiffy, and I hardly had any time to think about what to write for this week’s Monday Truclusions. The only hope I had to find a story was my Mumbai trip over the weekend. Bharath and I were invited to be motivational speakers at the 3rd annual conference of FIFA. Surprised? I was too when I heard the name FIFA. At first I thought, “Why would FIFA (Fédération Internationale de Football Association) invite us as speakers?” High hopes, right?
We then realised that the acronym stood for the Foundation of Independent Financial Advisors. But still, the question remained – why us? I am quite ignorant with regard to matters of finance, investments and the economy. The dots didn’t connect for some reason!
Celebrating The Bonds Of Partnership
We realised, much later, that FIFA’s theme this year revolved around partnerships. They found inspiration in the journey that Bharath and I have had thus far. The other thing that excited me was the venue where the event was being conducted – Garware Club House – a part of the legendary Wankhede stadium. It is considered a holy place by the God of Indian cricket himself, my role model and inspiration, Sachin Tendulkar! The event and our talk was a grand success. The topics that we spoke about were love, passion, determination and conviction: the love that you have towards the person you are and the people around you. The passion towards what you do. The determination to succeed and become what you want to become. And the conviction towards the things you believe in.
We received standing ovations multiple times, but that is not what I want to share with you in this week’s Monday Truclusions. The talk was not something I wanted to share in my write-up in the first place! In fact, I had hoped that my travels would give me something new to share, and the city of dreams did not disappoint me.
Lessons From The City Of Dreams
In the first thirty minutes, Mumbai gave me something that I could share. By the end of Saturday, the city had gifted me two things – each very different from each other. But both perceptions define two contrasting perspectives of human behaviour.
Let me begin from the moment we left the airport and faced the hustle-bustle of the city. On our way from Chowpatty to Santacruz, at a jam-packed traffic signal, I saw, through the window, a chauffeur driven car. This man who was in a car next to us, was struggling in the scorching 12 O’clock Mumbai sun. The air-conditioner in his car probably wasn’t working and the poor chap was suffering. On the other hand, on the footpath, I saw a man sleeping peacefully. Possibly in his state of mind, the sun didn’t matter. I was amazed, and wondered how a man could sleep so peacefully in such heat?
For the rest of the ride, I found myself searching for an answer. As we reached the venue, I was still pondering the secret behind the man’s sound sleep. I wondered if the man was under the influence of some intoxicant or if did he not care about his family and loved ones. Did he feel responsible for himself? Did the irresponsibility surrounding him give him the freedom to rest in such peace?
The Workings Of A True Partnership
That evening, during the FIFA event, I came across a dynamic duo that created history 30 years ago through sheer hard work and persistence. They created a partnership that went on to be compared to the legendary partnership of Warren Buffet and Charlie Munger. In an interview at the event, Mr.Ramdeo re-affirmed the differentiating factor between the people who satisfy themselves with mediocrity and those who strive for excellence.
You must have heard of Buffet, one of the richest men in the world, if not the richest. The two men are considered some of the biggest investment gurus in the world. The two men I am going to introduce to you now are the India’s answer to the Buffet and Munger partnership. Some of you may well ask, “Is being rich the definition of being excellent or successful?”
No, but becoming someone that society looks up to and wants to emulate is the definition of success according to me. The two men I am talking about are Raamdeo Agrawal and Motilal Oswal, the founders of Motilal Oswal Asset Management.
In a candid interview at the event, Mr. Raamdeo said that the secret of their success was their adherence to the basic but powerful principles of life. He spoke about the humble beginnings they had – two men who completed their chartered accountancy courses and were thinking of the way forward. Neither wanted to work for other people and wanted to be their own bosses. Their acquaintance, which began over their bike rides together, grew into a strong friendship and then transformed into a well-oiled machine called partnership.
A Meeting Of Minds And Principles
Both men shared a great amount of trust, respect for each other’s strengths and weaknesses, and the natural division of labour and tolerance. No one is perfect, and partners need to be tolerant of each other’s eccentricities. Mr. Agrawal reflected lightheartedly, “I find it difficult to keep time – it irritates Moti but he tolerates me.”
When they started their firm, they didn’t even have enough money to buy registers to maintain account books. The only clients they had were Mr. Motilal’s older brothers. Slowly but surely, the market research and communication skills of Mr. Agrawal ensured new clients invested money as advised by him. The administrative and accounting skills provided by Mr. Oswal made sure that the clients made money, and in turn, the firm made money.
Despite his market strategy and client servicing skills, Mr. Agarwal’s name still isn’t the one on the letterhead. When asked about it, he said, “Why worry when uska naam chalta hai mera kaam chalta hai?” (Translation: “Why worry when everything is on track with his name and my work?”)
But on a serious note, he added that all the clients he convinced wouldn’t have stayed with them but for Motilal’s impeccable money management skills. Their partnership could stand the test of time because of the strong ethical values they stood by. This is some food for thought for the current generation – are there any shortcuts to success?
Liked reading this? Then you might also like to read Monday Truclusions – The Value Of Honesty In Today’s World.
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