Introduction Much against the advice of his family members and close friends, a middle-level executive quit his well-settled job in the heavy chemical industry and joined a project of a prestigious group of organizations that were doing well in the tyre industry and also in cement. However, they were charting a new course in the industry at Cuddalore, a small port town near Pondicherry, by entering into the bulk drug industry of manufacturing Penicillin G, a vital drug for several pharmaceutical applications. Yes, the market was good when the plant was set up. However, a change in Government policy resulted in the market being flooded with cheap Chinese imports. The market crashed and the organization just closed down some seven years later.
The executive, who was a Manager, joined the organization with great hopes. The CEO at the plant never believed in HR. His thoughts and actions were centered on the age-old HR policy of hire and fire. The executive's career went for a big toss.
The above true story is repeated often in many cases. In this article, we will focus on learning from mistakes, through common sense, in a) careers b) investment of savings c) marriage d) relationships at home, work and society, and e) health
Learning from mistakes in careers It is vital to look around. Many of our own relatives would have done mistakes. We should reach out to people to understand such mistakes. In general, it is totally unwise to quit a job in a regular company, which is already making profits, and jump to a project organization, even it is from Mukesh Ambani. The reason is that the future is uncertain and the present recession does not present a good picture for most markets. In fact, the existing projects will face huge hurdles as the owners are likely to put the project itself into cold storage. The cash flow problems will be severe. Let us remember that Mukesh Ambani himself has a debt of over 2 lakh crores, as he has leveraged his strengths in a number of new fields like organized retail, telecom and the like.
Similarly, grin and bite your teeth and bear any insult, any problem whatsoever from any boss or several bosses. This is a part and parcel of life. For the next sixty months, become thick-skinned and brave it out. However, if you are already a success in say, FMCG marketing with a proven track record, it does make sense to even take a dip in salary and get into the most happening of careers, in what is now called, Supply Chain Management, which is totally IT controlled and has the power of saving hundreds of thousands of rupees everyday, through intelligent decisions. After all, goods and services need to move around, even in a recession. There is no alternative. A career in this field is the best, given today's conditions. Do not believe anyone promising a job abroad, particularly in the Gulf. This is mainly because the conditions out there are no better than what is there in India, and the markets are very fluid. Those who had resigned their jobs have had horrible times in the UAE and elsewhere. Salaries that equal rupees three lakh and above in Indian currency are okay, but you need to be doubly sure about the job description and the reputation of the employers.
Learning from mistakes in investment in savings This is a big eye-opener. Just because your friend convinces you to invest in a chit fund, don't do it. Stick to profitable public sector banks like the Canara Bank or new private sector banks like the Fincare Small Services Bank, which is growing by leaps and bounds. Think of increasing your savings through cost-cutting by giving up any investment in wants. Movies can be watched on television. Save every pie and put that into long-term recurring deposits. For instance, the Andhra Bank has given depositors the liberty of even opening a recurring deposit with small amounts like Rs.50/-. Do it for 120 months. The interest rates will not go up, irrespective of inflation, with the Government of India so keen on keeping the interest rates so low.
Pull out of any SIP scheme and go for the safe PPF. Put the same or more money into this wonderful savings investment, which is good for retired life. Look around for people who have made good investments on land. For example, some twenty-five years ago, in a distant suburb called Guduvancheri in Southern Chennai, and in a place called Tiruvellore, in Northwest Chennai, plots were being sold for less than one lakh for a size of 2400 square foot. The latter was made a district headquarter town and the same place was never the same again. Today, the same places are selling for around one crore and those a little interior, are selling for at least eighty lakh. Investors in those times were laughed and mocked at, by relatives. Today, the same investors are laughing all the way to the bank.
It does pay to invest in the suburbs. The two main criteria for development are a) there should be a train connection and metro bus connection b) at least one hundred houses should be there in a nearby locality. If these conditions are satisfied, go in for the investment. Do not invest in flats in the city. It does pay to stay in a rented house and claim the income tax benefit as applicable instead of investing in a costly flat in the heart of the city. When the area develops a little, it is wise to build an independent house at that location, as the bus and train services will anyway improve. Even those who live in the surrounding villages are wise. They use two-wheelers to reach the nearest railway station and then take the EMU train to reach the city. Investment in gold should be done as a safety measure and not for resale.
Learning from mistakes in marriage Marriages, as the saying goes, are made in heaven. But they happen only on earth. It is wise to have a clear idea about career priorities, lifestyle, views on traditions and culture and so on, in any marriage. If it is a love marriage, all the more so. In an arranged marriage, all these matters should be very clear. The situations have changed dramatically and women have dreams that were unthought of, some years ago. Conditions are not the same now. Clarity and agreement on every aspect of life, before marriage, is a must. Do not make friends through facebook or other social media and fall in love. Never trust anyone. It is stupid to post cell numbers and photographs with family on social media. This can lead to misuse.
Even after marriage, spend a lot of time in understanding your life partner. Go in for the give and take policy. After all, life itself is all about small adjustments and tolerance of all human beings.
Learning from mistakes in relationships at home, work and society Today, no organization will tolerate any politics. If there is politics in your department, stay away. Stay aloof. Go in for healthy relationships with close friends outside work. You could even visit their homes. As far as relationships at home are concerned, do not make the mistake of losing your temper on any matter. Every member of the family has his or her aspirations. These are quite diverse. Try to constantly communicate with each family member and make them as comfortable as possible. If you are short-tempered and have made mistakes, it is high time that you repent and make amends. In the wider society, try to take part in solving local issues at least to the extent possible and on weekends, by doing some useful social work. Voluntary social work is increasing day after day. Learn to get into some sort of action here.
Learning from mistakes in relationships at home, work and society The Youtube has hundreds of videos on everything that is natural food. In every Indian language. Access these videos to understand the realities of life. You should take preventive action. If you have a history of piles in your family, for instance, go in for a lot of fiber content and totally avoid junk food and spicy food. Once this is done, part of the problem can be solved. Consult your doctor and take regular advice on what needs to be done. Go in for long walks and do some jogging and some exercise as well. Once you do this, you are quite healthy. Social media can be a very useful guide in this respect.
ConclusionCertain ideas of avoiding and learning from mistakes have been discussed in the aforesaid paragraphs, based on experience and strands of learning in the real world. One can also innovate as one goes along. In fact, this is imperative at all times.
A wise man will always learn from the mistakes of others and never do such mistakes. Some people learn from their own mistakes and never repeat them. But some people may not do both and they go on repeating the same mistake and get spoiled.
There are some issues like moving from one job to other, getting married, investing and so on. In these cases, we can't do a mistake and learn from that. If that happens it will become very costly learning. So in such cases, we should use our contacts, get the information from them and do a better analysis and then perform. That will ensure us a better tomorrow.
One should remember that marriage is a permanent affair and once we are committed we should live together as long as we are here on this earth. So we should learn how to adjust. No two person's ideas will match 100%. We should be accommodative and try to adjust with the life partner once we are committed.
A good article from the author and it is good for the middle-aged people to read such articles which will give them good guidelines in important matters of life.
Instead of maintaining some ego, it is always better to have the periodical analysis of the events and any mistake committed in the past can be corrected with the consistent analysis.
While talking about the security of the jobs, no job is stable in the present juncture be it private or the public undertaking. Hence a wise decision should be taken prior to any change to be made in matters of job.
Similarly, while talking about the investment in real estate or any financial instruments, it requires a lot of homework due to change in the financial scenario and one should explore all possibilities including taking the suggestions from a reputed financial consultants for the better safety of our assets.
The author has offered valuable guidelines and hope the readers would be benifited with the contents of this article.