One of the most adorable Indian, Sachin Tendulkar played his last innings of a journey which lasted 24 years, which no one has ever travelled till now and may be will be difficult or nearly impossible in future.
Sachin, the god of cricket, is not just a man who played cricket but Sachin is a concept which every person who dreams to become successful must follow. For investors as well, who wish to become wealthy and rich should follow “The Sachin Concept”.
The Sachin Concept
Although almost everything what Sachin has done is a concept but let us discuss few Sachin concept and link them to personal finance.
- Simplicity
This has been one of the key reasons for Sachin’s success. His humble attitude was visible even in his farewell speech which he delivered during presentation ceremony last week.
From investor’s point of view, the thing to learn is to remain invested in simple products for long term success. Once you remain simple, you will be more focussed and you will have better strategy. Avoid investment linked insurance plans, structured products, PMS etc.
- Start Early
Sachin is the highest run-maker in the world. How did he accomplish that? Surprisingly, he did not have the best of averages. As of now, there are 20 players in the world who has better averages than that of Sachin. So how did he manage to score so many runs? The simple reason is that his average of 53 something in an innings spread over 200 matches and over 24 years which no one ever did. All this was possible because he started at the age of 16. Most of the cricketers generally start at the age of 20-25.
Now for investors, average of Sachin is like returns they get on investment. If you want to become wealthy, the real need is not to get the highest return but to give maximum time to your investment. Let the return compound over period of time. For that obviously, we need to start early so that loads of time can be given.
- Defence and Attack
Cricketing technique of Sachin will be remembered as long as cricket will be played on planet earth. He was not only good in attacking but also rock solid in his defence. This combination allowed him to make so many runs in different countries with different opposition and conditions.
From investment angle, Investors must have solid defence in the form of debt and attacking strokes in the form of equity. Only debt or only equity portfolio is not good for long term success. We must use defensive techniques when planning for short term and attacking techniques when planning for long term.
- Avoids media gossips
How many times have we seen Tendulkar getting involved with media, even though he is such a big celebrity? He always focussed on his goals and did not really bother too much on what others are saying about him.
Investors must learn such character from him. We should not really bother about what others are saying about markets or what headlines get published in newspapers. All we need is to stick to our plan of action and make changes in portfolio depending on our own financial condition and not on market condition. We must stop reacting to day-to-day news and what others keep saying about future.
- Takes help from professional coach
In his farewell speech he thanked all those people who stood with for his development. He had professional for all his needs. His turning point was when he first met his coach Mr. Archerekar. Having a coach is first thing we need. He also had professionals who managed his physique, his overall management etc.
Investors also must not try and do all by themselves. Take advice and help from professionals whom you believe can help you in doing things better. Taking advice from your parents, relatives, friends etc who are not professional in the field of finance could be really harmful in wrong run. Not that these people don’t care for you but just caring is not enough.
There is so much what we can speak about Sachin and learn from him. The idea was to salute this man for his character and let the readers know that ingredients of success are common, whether playing cricket or investment or probably anything else.
