@nithin An entrepreneurship question. I am a lawyer and I switched to marketing because I realized that it is almost impossible to practice the law honestly and see the color of money. In this country, it is simply not possible. Unfortunately, I realize that marketing is equally manipulative and you are mostly trying to psychologically influence people using their emotions to your benefit. We are sometimes essentially creating demand for products not based on need but by inducing FOMO. I often question the practice. Marketing also involves some degree of persuasion which leads to a final purchase/availing of a service which would not have occurred without the planned persuasion. In light of this, do you think Zerodha is an exception or is it possible to follow the Golden rule of Good Karma and run a business? Thanks
I keep saying this: find something you love to do, be ready to spend enough time doing what is right (good karma), and maybe you will get lucky. It helps if you are likeable because the chances of you getting lucky increase the more people want you to get lucky. And by spending enough time, I mean, with Zerodha, there were almost 12 years before Zerodha and maybe six after, so 18 years before luck hit us.
You can’t keep switching from being a lawyer to marketing. Every business has manipulation; it is up to you what you do to stand out among the rest, and most often, it is being truthful and honest.
Our business, by the way, is based on F&O and intraday equity traders. Most traders lose money, so our doing well is on the back of most of our customers not doing well. So, I don’t know how Karma plays out. But what we have done right from day one is not to be the reason our customers are not doing well. So, there are no push notifications or triggers to get you to trade more, no relationship managers, decently low brokerage rates, etc.
Thank you for the incredible insights Nithin. I really appreciate the viewpoint. This will certainly help me seek clarity. I realise that every undertaking unfortunately requires cutting some corners and the utopian scenario unfortunately does not exist. Being Truthful and Honest is certainly something I shall incorporate.
Cheers.
@nithin Sir i started trading and actively observing markets from 2018 . Tried every possible way to learn things theorotically , practically in our town ( jodhpur ) as a RM. then as a broker . but now feels like things are not working . what advice would you give how do you kept yourself motivated when you see no progress or slow progress . Tried to change the old traditional broking way by sharing knowledge and researching more in depth but people here just want stock TIPS . and our captured by old traditional brokers in our town .
One more factor that lags us is our age (24) people have build relations and trusts over the years .
How do you dealt with all this sometimes when you were indiscplined or felt like you are also lagging after giving so much efforts .
Please through some light as a mentor to guide me on life and businness lesson.
Hmm… if you do the same thing everyone else is doing, it is very hard to sell.
Of course, it helps if you can communicate well, which is something I think you should work on. I am saying this just based on how you have communicated your question.
To add to what @nithin said I believe everyone has their intrinsic strengths and weaknesses based upon their unique situation, upbringing and circumstances. We are all truly unique. A SWOT analysis often helps you clearly ascertain your unique skillsets and/or the lack thereof. One must choose an occupation that complements their skillset and also pays well. As regards being discouraged in the wake of rejection/challange you must know that consistency is key and compounding works in the field of business success as well as it does in the markets. The way may not be abundantly clear but continuing to take steps will eventually ensure that the dots connect and you succeed. Luck also plays a role IMHO. Nithin for instance did not know where he would end up while working at the call center but the efforts never stopped. Give your best, do good deeds and providence eventually supports you.
Thank you so much, Nithin Sir, for your honest feedback. You’re absolutely right I now realize I need to focus more on how I communicate . I’ll work on improving my communication . I truly appreciate you taking the time to respond . Your response is truly valueable
A SWOT analysis is a great idea, which I’ll definitely explore . I’m grateful for this perspective and will keep focusing on consistent effort. Thank you so much for sharing these valuable insights , taking the time to guide and motivate.
Thanks for the suggestion. Ill surely check it out.