Lesson 1: Adopt a disciplined approach to investments
If there is one thing that Narendra Modi lives by, it is his discipline. Come what may, he is known for never moving away from his disciplined regimen. This is a great thing to learn and emulate from our Prime Minister. As an investor, if you have a systematic and disciplined approach towards investing, your financial goals will seem more achievable. Chalk out an investment plan to meet the financial goals you have in mind and invest accordingly.
Lesson 2: Do away with the clutter
As soon as Prime Minister Narendra Modi assumed office, he made it clear that he disliked clutter of any sort and thus began the ‘cleaning drive’ beginning with the babus. The Prime Minister even made it clear that presentations had to be succinct to bring out the important issues to the forefront. Similarly, when it comes to your portfolio, take care to see that it is not a collection of unwieldy investments that are causing the clutter.
Lesson 3: Under-performers should go
Modi has made it amply clear that he has zero tolerance for slack attitude. Each member of his Cabinet and the babus are to be on their toes and on the top of things. Otherwise, heads will roll, as he has clearly communicated. Your approach should be similar when it comes to the underperformers in your portfolio.
Lesson 4: Ears to the ground
For the first time, we have a prime minister who makes his opinion or action clear on any issue of national relevance on the social media platforms. This shows that he is not just tech savvy, but likes to keep himself updated on all minor and major issues of national and international significance. This is a lesson an investor should learn from him.As an investor, you should be cued in to what is happening across the markets and asset classes to ensure that you can take relevant action when it is required.
Lesson 5: Be undeterred when need be
Modi is also known to be a leader who can take harsh decisions when need be, without worrying about criticism, whether it is from within his party or from the Opposition. He can do this because he believes he is in total control of the situation. Similarly, if you have taken an investment decision after sound research, have the conviction to stand by it and do not get swayed by the noise around you.
source : Money management lessons you can learn from PM Narendra Modi