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INSCRIPTIONS 12 WALL 2 PANEL 5 HIGHLIGHTS OF THIS ISSUE: 1) FINANCIAL PYRAMID 2) REINVENT AN ARTICLE BY MR BHARAT PAREKH AND THE SCULPTOR INSCRIBES TALKS ABOUT WORK ETHICS: THE DIFFERENTIATOR

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Page 1: Inscriptions 12

INSCRIPTIONS 12WALL 2 PANEL 5

HIGHLIGHTS OF THIS ISSUE:1) FINANCIAL PYRAMID2)REINVENT AN ARTICLE BY MR BHARAT PAREKH

AND THE SCULPTOR INSCRIBES TALKS ABOUT WORK ETHICS: THE DIFFERENTIATOR

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i

TITLES SPACE FOR P.NO

Sculptor Inscribes RG 2

Gurus speak Faculty Members’ space 15

Caterpillar Space Students and Trainees 32

News Channel Happenings at Gopast 41

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Inscriptions 12

WORK ETHICS-THE DIFFERENTIATOR

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WORK ETHICS:THE DIFFERENTIATOR

WORK ETHICS:

THE DIFFERENTIATOR

God has blessed me with opportunities of working with some really great super per-formers in various field. Marketing profession-als, Business leaders, Highly respected doc-tors, Educationists and Sporting champions. When i analyse their growth path and the challenges they have undergone so far, i could see the difference between them and the lesser level achievers.

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[email protected]

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Strikingly it is not their knowledge or talents that have taken them to this height. In fact some of these people are not so talented even. There are people in their same profes-sions much more knowledgeable than these people, but they have not made it so great in their lives. Then what differentiates these peo-ple?

Their Work Ethics.

Work Ethics is their biggest strength, not just knowledge and talents.

Ethics means a set of values which has been adopted voluntarily. They become their guide posts whenever they are in any dilemma.

There are 5 aspects of Work Ethics:

1) INTEGRITY:

Integrity: Integrity means thoughts, words and actions aligned together. What we think, we speak and act are all on the same plane. We have come across people in many sec-tors who speak one way in the presence of a person and the other way when he is absent. For example while speaking to the customer the sales person praises him for his being a good spend thrift person, but when talking about this customer to another colleague, he refers to him as a misery person. This is not integrity. Another negative example is when a sales person talks about a successful sale in a tone as if he had won over the prospect by using some techniques. This attitude will only

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enflame ego in the self, which can be quite damaging in future. In fact “A sale is not a vic-tory of a salesperson over the customer, it is the kind acceptance of the customer of both the product and the sales man” is the cor-rect paradigm.

There is a leading life insurance agent in In-dia. It so happened that once a prospect had agreed to buy a big policy and gave the initial deposit of 17Lakhs (1.7 Million) as the first installment by a cheque. The next day around 3 pm the client’s secretary called this agent to say, if he had not presented the cheque to the insurance company, then better hold on, as the prospect has some doubts on some points about the policy. She also said if how-ever the cheque had already been presented, then let it go and not to bother, the client

who has gone abroad, will come back and dis-cuss about it the next week. The agent said her that he still has the cheque with him and will not deposit it till he gets the green signal from the client.

He could have as well told the secretary that the cheque has already been presented, so that it will become difficult for the client to back out of the deal. He did not do it, instead he had told her the truth and had offered to clarify the doubts and after getting the green signal only he will place the cheque.

By the next day the secretary called this agent and said that he can now present the cheque as the client had asked her to tell him that. The agent enquired about the

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points that the client wanted to know about. She said, he seems to have got the details, that is why he has asked the cheque to be presented. The agen told her, that he would not like to do that, because once the cheque is accepted then to seek refund later can take some time and there can be some de-ductions also. So he said he would prefer to meet the client in person and set right the doubts and then proceed with the sale.

He met the client after 2 days, and the client said it was just a few minor doubts, which he got while talking to one of his friends, but he now thinks it is alright to go with the pur-chase. The agent took some time and pre-sented the data to show him that this pur-chase is a right decision, the client being a thorough gentlemen said to the agent that

he is sorry to have troubled the agent with such small doubts, which was already an-swered at the first meeting itself. But he also appreciated the agents integrity in not pre-senting the cheque till he had a personal dis-cussion with him. He said it is rare to see such professionals nowadays. The policy got issued and thereafter this client has referred a quite a number of clients to this agent and has also topped up his own insurance portfo-lio which now stands at a 20 Crore (200 Mil-lion) annual commitment.

From the sports industry we can get solid ex-amples of great performers who operate with utmost integrity on the field. Sachin Ten-dulkar is respected world wide, not only for his scores and records, but for his behaviour on the field and off the field. Once in a cru-

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cial stage, when he was close to another cen-tury mark, the ball carried to the wicket keeper who appealed for a catch, the umpire

said no. Even as the umpire was negating the appeal, Sachin walked away from the pitch as he knew there was a slight snick to his bat, before the ball carried to the gloves of the keeper. The snick was so slight that, even the fielder in the first slip did not hear it and did not appeal. As Sachin walked towards the pa-vilion, the wicket keeper came and hugged

him and said to him loudly, “You are truly a great person”.

Dr A P J Abdul Kalam as a chief guest at a massive gathering was being introduced to the audience by the host, before inviting his to speak. During the lengthy introduction of this high profile guest who has held so many important positions the host had mentioned that Dr Kalam served as the elected chair-man of scientific advisory committee to the cabinet. While Dr Kalam rose to address the gathering he said at the beginning “Let me clarify that i served as the Ex Officio Chair-man of the scientific advisory committee to the cabinet and not as the elected chairman as mentioned in the introduction". This great man was listening intently, which many chief

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guests don't also, and also wanted to set right the records. That is integrity.

It is true that all of us have this virtue of In-tegrity in us. But what differentiates the champions is the degree of integrity. In their case it is always 3600.

Sometimes we are selective in this aspect. For example we keep up the commitments we made to the client, but sometimes do not with the company we are working for. Or to the Law of the land.

Integrity in all relationships is what makes it 3600. With spouse, children the weaker sec-tion, everywhere.

What is the connection between Integrity and success?

There are 3 underlying strong con-nections between integrity and suc-cess

1) The first one is that it gives in-ternal peace. Internal peace, re-leases all the potentials to flow un-hindered. It fact it accelerates the use of talents.

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2) Another important connec-tion is in the form of genuine rela-tionships. People would love to be associated with such truthful per-sonalities.

3) It rises our self esteem, the way we feel about ourselves. People who feel good about themselves produce good results.

But at times, we compromise on this factor of integrity under the guise of being “Prag-matic”. We justify our saying something else and doing something else, by saying it was necessary or that it would cause unbearable losses etc. At times because of inflated ego also we trample upon this quality. For exam-

ple saying a lie to the children for a broken promise. We may then justify it with many many reasons. But then this is wrong. This be-haviour has to be corrected.

How to correct ourselves?

One simple technique which will be quite useful to all of us is called “Reflection”. Mean-ing that before going to bed, if we can spend about 20 minutes to 30 minutes of running a flash back of that day in our mind’s screen, it will show us the places that we need to cor-rect ourselves. The mind will clearly say that this deed of us was wrong and these were correct. By itself it will serve as our judge.

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We can increase the effectiveness of this “Re-flection” exercise by doing it in 3 positions:

1) First position: Where we narrate to ourselves how we behaved that day with our superiors, clients, team members, children and others.

2) Second position: Where we narrate to our mother or father or teacher or to the boss how we behaved that day with our superiors, clients, team members, children and others. If while listening to our story, will they flinch? will they disapprove a certain be-haviour, then that means it needs correction. Or if we are confident that our children when they listen to our behaviour that day will be proud of us, then yes what we have done is correct, go ahead, keep it up.

3) If there were to be a judge, or some one whom we hold in great esteem listening to our talking with our friend or children or spouse about this incident, what will they feel? They will feel proud? if yes, then go ahead and keep it up. Or else change.

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When we keep repeatedly doing this we will get purified and the ethics of integrity will set in us firmly and that too 3600.

The other four aspects of Work ethics is Ownership, Quality, Discipline and Un relent-ing hard work. We will see about these as-pects in our next issue of Inscriptions.

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8 Governing principles:

1) If a person adopts the formula “Income - Expenses = Savings” then he can never become wealthy. The correct formula is “Income - Savings = Expenses.

2) Regularity is the key to wealth. (The key to wealth is not the ROI, IRR, CAGR etc)3) Start early and reach safely.4) Gold and greed can never stay together.5) Purpose must decide the choice.6) Financial Pyramid7) Draw the map before you start the journey.8) Professional support helps.

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WEALTH THAT GROWS AND LASTS FOREVER

PRINCIPLE NO: 6

“FINANCIAL PYRAMID”

[email protected]

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One of the wonders of this world is the Pyramids in Egypt. They are huge. They have stood the time even having been subjected to ferocious weather conditions. They are considered to be engineering marvels.

The sixth principle that i would like to cover in this issue of inscriptions is “FINANCIAL PYRAMID”.

The pyramid is the most stable structure in the world. It can not be top-pled easily. A Cuboid, or a Cube or any other structure can be toppled. They fall when subject to stress. But even in extreme situations a Pyramid stays stable.

There are four surface sides to a pyramid. This issue we are going to cover one side of the financial pyramid by name “The financial pyramid struc-ture”. The other 3 sides that we will discuss later are 1) The three natures of Assets, 2) Financial Priorities and 3) The three dimensions of assets.

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Now let us look at how a structure of Financial Pyramid will look like:

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Our financial decisions should be aligned to these stages in the pyramid one by one. To start with our investments should be in the first stage of the pyramid that is “ Protection”

PROTECTION

This refers to the financial products that offer protection of income. These products protect our earning capacity. The products that will appear at this stage of the pyramid are: Life Insurance, Critical Illness Insurance and Dis-ability Insurance.

RISK FREE GROWTH

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This refers to the safety of the money saved for future. These products serve to provide holding capacity during turbulent times. These products are also meant to be en-cashed at a short notice.

The products that will appear at this stage of the pyramid are: Bank term deposits, Postoffice Savings schemes, PPF, Government Bills and Bonds and Life insurance Endowment type of policies which offer a savings element along with protection.

GROWTH WITH RISK

This refers to financial products that carry an element of risk on the capital invested with a hope of getting more yield on the money invested. These products provide an answer to inflation and by and large expected to yield more returns. But we must understand the capital invested is at the risk of diminishing or even completely consumed in volatile times.

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Then why would anyone take such a risk? One need to take that risk, for not taking risk at all can be the biggest risk that one takes in life. These in-struments are meant to give adequate amount to meet big expenses and commitments as a reward for the risk taken.

By and large a long-term holding of these assets reduce the risk involved as they perform in some cycles and during an upward cycle they give good re-turns. The products that will appear at this stage of the pyramid are: Mu-tual Funds, ULIPs, Equities, Metals, Currencies and Commodities.

HI-GROWTH

This refers to financial products which require huge amounts to be in-vested. These products also carry the risk on the capital invested with a hope of getting more yield on the money invested, just like the products at the Growth with risk stage.

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Since the capital invested is huge, investors get carried away by the big vol-umes of sale of the assets and generally there is a myth that they yield a very high ROI (30%+).

The products which appear at this stage of the pyramid are: Real Estate, Venture Capital investments, Big Solitaire diamonds, Highly priced art and antique pieces.

SPECULATION

Speculation in normal terms mean “Thinking”. Financial instruments keep getting different prices at different times. When a person thinks about these movements and takes a position either to buy or to sell at a particu-lar price at a particular time, that decision is called speculation. Mostly these instruments are held for a short term period. However some inves-tors keep trading for a long term by sell/buy/sell and absorb the losses in-between through a few big gains made over a period. Short term or long

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term these investors take big risk here, they provide at times 5X margin money to trade for X amount.

Products like Derivatives, F&O and Swaps are examples of speculative prod-ucts. The bottom two levels of the pyramid provide the holding capacity and therefore increase the risk absorbing strength to the investor so that he can truly benefit from the higher parts of the pyramid. But people who do not provide adequate amounts in the first two stages of the pyramid, so as to earn more ROI on the whole portfolio generally loose heavily.

In a foot ball team, there will be a goal keeper, two people playing in back positions, two in the wings, two in center positions and twi in the forward positions. The forwards primary role is to score goals and the centers need to set-up/pass to them to score the right and the left also assist in this. The backs need to stop the opposite team in progressing towards goal post and the goal keeper have to save the goal. Stages in the financial pyramid act exactly in the same way. Normally the forward who scores goals are highlighted in the media. But the back or the goal keepers do not come

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into the media limelight. This is what happens in the financial industry also, while the stock markets, funds and all occupy most of the space in the me-dia, the insurance or the debt instruments get seldom noticed. With a re-sult the public or the common men get drawn by products in the upper lev-els of the pyramid.

In my meetings i used to explain financial pyramid, it stages and the prod-ucts in these stages also. Then i would also ask the participants to draw a house near the pyramid. Usually people draw like this:

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But this is not the way in which you can construct a house. The same mis-take investors do in financial pyramid also. You need to get the foundation first, then the walls, the roof and the the interiors. In the desire to become wealthy to earn big returns people tend to ignore the lower stages in the pyramid like Protection and the risk free growth. It these two stages in the pyramid that support the investor and helps him to overcome the risk in-volved in the higher stages of the pyramid. This picture shows the scene in the correct perspective.

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We will discuss more about the links in these stages in the next issue of In-scriptions, please keep reading.

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CHAPTER 3

CATERPILLAR SPACE

THIS SPACE IS MEANT FOR THE STUDENTS OF GOPAST

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REINVENT

BHARATH PAREKH

[email protected]

Reinvent

Wishing you all a very Happy New Year. May this New Year bring happiness, success and good health in your life. In this New Year let us all make a resolution to Reinvent ourself and move to a higher success ladder. What does reinvent really mean? It means leaving our comfortable environment to move on to a newer, more efficient and more innovative way to do business. It means learning from past experiences, gathering more tools, sharp-ening our minds, developing our talents, adding more skills, meeting new people, expanding our level of influ-ence, and many more. When we reinvent ourselves it’s like multiplying our knowledge base and perspective. It allows us to consider things from several different angles. Every time we add a new dimension to our lives we gain knowledge, insight, and experience.

Here are three Tools available to anyone who wants to Reinvent.

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1. Gratitude Day: On 13th Sept 2015 my new office was inaugurated by Customers along with IRDA Chairman Shri.T.S Vijayan and LIC Chaiman Shri S.K Roy together with Zonal Manager LIC, Shri B.Venugopal, Regional Manager LIC, Shri T.R Mendiratta, Senior Divisional Manager LIC, Shri R.Chander, Shri. R. Gopinath Modera-tor. The office was inaugurated in a unique way by opening up the umbrella. The inauguration was followed by an interactive session between LIC dignitaries and customers; the moderator for the session was Mr. R. Gopi-nath. Gratitude day is a way to express my heartfelt gratitude to all my customers who reposed their faith and trust in me. My valuable clients for believing in me and in LIC. This gratitude day helps in building a trust be-tween you and the client. I reinvented myself by opening a new and called it Gratitude day for my clients. When the client entered the new office he is convinced that he is dealing with professional people. One should always plan new ideas wherein we get an opportunity to thank our client for their valuable support. Like organizing some competition for the children of our clients, providing them better services, etc . We you stay connected with your clients it builds confidence in them. The bonding between you and client becomes stronger. One should always try to do things in a differently and in a unique way by reinventing oneself.

2. Review system: A review system always helps in staying connected with the client. There are many changes taking place in our business, it is important to realize that there will be changes in the lives and businesses of our client as well. Hence a review system always helps in updating the changes and staying connected with the client. For example there are additions in families by way of marriage and children, losses by way of death, ex-pansion of business etc. On should aim at reviewing the client’s portfolio atleast once in two years. The objective of this review system is to ensure that their current life insurance portfolio suits to their current financial situa-tion. Once can also get reference from clients during such review meetings. Today world is moving very fast so we also need to keep on reinventing, which is the need of the hour. Review system is an effective way to reinvent .

3. Prospect up: Prospect up means aim at a big cheque prospect. After our learning years we reach a comfort zone and it demands courage to move to the next level. If one wants to reinvent oneself we should always look for prospecting up. If we keep on doing the same business we will not be able to grow and always remain where

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we are. In the quest to prospect up one should move out of the comfort zone and target a higher segment. I al-ways say that “ if you continue to do what you have always done, you will continue to earn what you have always earned”. We need to move from one segment to a higher segment who can write a bigger cheque. We need to re-invent ourself by prospecting up.

Conclusion:

Let us make a commitment to Reinvent ourselves by gaining knowledge, developing our talent, doing things in a unique and innovative manner. Let us begin by believing in ourself. Change is the biggest truth of life. The world is changing everyday and we are part of this change. If we want to succeed we need to open our minds and ex-periment with new ideas , but let us always remember that it should be in addition to what we know already works for us. Let us keep on reinventing ourself and move to a bigger and brighter future. We should see oppor-tunities that we have never seen before and be ready to face new challenges. Let us reinvent ourself with tools of gratitude day, review system and prospecting up.

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CHAPTER 4

NEWS CHANNEL

PALM LEAF HAS NEW ADDITIONS NOW

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PALM LEAF NEXT RENEW-ALS ACCEPTED ONLINE

WITH 3 OPTIONS:

1) ONE YEAR RENEWAL

2) THREE YEARS OPTION

3) FIVE YEAR OPTION

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ADDED NOW1) PURPOSE DECIDES THE CHOICE IN “MY RESOURCES”

READ ABOUT ß MEASUREMENT OF VOLATALITY AND SHARPE RATIO IN THIS.

2) A KEY MAN CASE STUDY HAS BEEN ADDED TO MY RESOURCES

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DEVELOPMENT OFFICERS PARTICIPATING IN THE “LEADING LIGHTS” TRAINING WORKING IN GROUPS ON THEIR

ASSIGNMENTS ON THE CASE STUDY ON RETIREMENT PLANNING AND CLASSIFICATIONS OF INCOME

AT THANE.THE CASE STUDY INVOLVED IN-DEPTH RESEARCH INTO AS-

PECTS OF EXPENSES PROVISION METHOD AND ALSO PSYCHO-LOGICAL ASPECTS RELATED TO RETIREMENT PLANNING.

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“CROWN YOURSELF” BATCH AT GOPAST

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MISSION MDRT 28TH BATCH AT GOPAST CHENNAI

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BUILDING BUSINESS ENTERPRISE SESSION SIX MIONTHS COURSE FOR SBA’S AT CHENNAI

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MASTER MENTOR COURSE OF SIX MONTHS AT

HYDERABAD FOR DEV OFFICERS