The Exchanges

Q How do you define success for yourself as an investor?

A The, uh, for me success, uh, has several components, uh, and it's not necessarily winning, uh, and I would like to defy, you know, differentiate between the two. Winning is when you set yourself a very, very clear objective, um, you know, in terms of returns, in terms of, uh, that I'm going to put X amount of rupees in a particular investment, and I expect this to have, I don't start with that. I think I start with looking at, number one, the business idea, and looking at the person who's driving the business idea. And if I feel that that person has a spark, has enthusiasm, and is convinced about the business idea, um, I'm willing to back up that particular person. And, uh, if the return comes, well and good. If it doesn't, even then it's okay for me. So my success is in seeing the other person succeed, and not, not by return on Capital invested.

AI assessment note: “my success is in seeing the other person succeed, and not, not by return on Capital”

Q So what would be your Lakshman Rekha? What's your do's and don'ts in life?

A Well, I, I would say, ah, very clearly, one is that, ah, Ah, whatever are our contractual agreements, and by contractual agreements, it doesn't mean that what's, what's a written record between the two of us. Ah, it could be a written document, it could be an unwritten document, and the spirit of it. I think that one must have the character to adhere to, to what has been promised, no matter what it is. It could be a marriage, it could be a relationship, it could be a, a business, ah, You know, ah, understanding. I believe that that's very, very important. So, at the cornerstone of it, I believe, is integrity. Integrity in thought, deed, and action. I think that's, to me, the, the most important aspect of, of living a, ah, ah, ah, a sensible life.

AI assessment note: “at the cornerstone of it, I believe, is integrity. Integrity in thought, deed”

Q So what would you advise an entrepreneur who is starting to build his business and achieve to, for himself, a personal success goal of hundred crore rupees of wealth in the next five years? What habits would you advise him to inculcate in himself?

A I think number one, um, very, uh, a deep conviction about the business idea and continuously looking at his business idea and business plan to deliver on the idea. Um, what we sometimes start with, uh, is not necessarily what we end with, and therefore there needs to be an awareness that, uh, as one goes along this particular path, there's a need to make changes, and therefore a person must have the intuition and the ability to, to examine new ideas, to examine why things are not working, or why they are working, and, and modify that plan going forward. I believe that that's Number one. Number two is a certain, ah, level of obsession is necessary. Whereas the whole world around you may tell you that something can happen or cannot happen, you've got to be convinced that there's a way around it, and that's what, what great, ah, people who achieve seemingly impossible or crazy goals, you know, what they are all about. Third part is, ah, a huge amount of discipline. Uh, and this, by discipline, I mean literally, you know, devoting a fair bit of time, effort in furthering the, the cause of your business. Remember one thing, that whilst the entrepreneur, uh, has set a goal of hundred crores in five years, you know, what he needs to focus on is the input to the business rather than being obsessed with the hundred crores. Yes, occasionally one needs to keep track that I am, am I moving…

AI assessment note: “I think number one, um, very, uh, a deep conviction about the business idea”

Q What positive thoughts keep you going throughout your day?

A Well, I think, ah, lots of positive thoughts. Well, I think the, the main one is that, ah, today is an opportunity, ah, that has been granted to us. So one part is gratitude for where you are in life. Gratitude for the moment that you have. Gratitude for everything that you have. And it shouldn't be about Complaining about what you don't have in life, ok? Often we look at stuff that we don't have rather than look at what, what is actually working for us, and a lot is working for us when you look at the world around us. So I believe that that's a very, that, that starts you off on an amazingly positive note every wakeful thing. So, number two, the realization that this is the only moment that I have in doing what I, you know, so rather than Regretting the past, and being concerned about the future, let me be present here and now, and do whatever is necessary, in order to make my life, ah, ah, a more fulfilling one.

AI assessment note: “the main one is that, ah, today is an opportunity”

Q What are the habits which you have developed in your last 3040 years, which you will say, you know, form the cornerstone of the success Mr. Daljit Singh is today?

A Well, I, I would say there are a few habits that one has got to incorporate. You learnt of the, you know, cliched phrase of work-life balance. Um, to me, um, work is not separate from life, and I think it's important for us to understand that just as taking a bath every morning is an essential part of a routine, or brushing our teeth is an essential part of a routine, Ah, we need to incorporate, and I, I, my personal learning is that, ah, incorporating healthy habits to do, that take care of your body, mind, and soul, is extremely important. Ah, and these are not up for debate, as far as I'm concerned. Ah, because if I don't look after my physical, mental, and spiritual health, then actually I don't exist, and I'm at the center of life. I'm at the center of my work, ah, and, ah, often, ah, I think people tend to forget this element. They are so obsessed, ah, you know, with the pursuit of whatever they are doing. Obsession is good, but not to the exclusion of certain fundamental, ah, you know, ah, principles that govern your life. So that's one part. The other part, I believe, is in terms of behavioral, ah, That what are the principles that, that are important to you? And I think each one of us must have a set of principles that we adhere to, that we say yes to, and there, equally, there are aspects that we say very definitely no to. So there is, there needs to be a Lakshman Rek…

AI assessment note: “incorporating healthy habits to do, that take care of your body, mind, and soul”

Q As you said, you are a spiritual person. How has being spiritual helped you be more grounded in life, and what are the practices like meditation you follow?

A Well, I think, ah, let's say I'm spiritually inclined. Um, what it tends to, ah, do is that, ah, I think the practice of spirituality, ah, enables you, or in some ways encourages you to go inwards. What we are looking for at all point in time is external gratification. That if I go on a holiday outside, I'm going to be very happy. But you go on a holiday, you probably have a good time. The moment you come back, the holiday is behind you, and you wonder what was this all about. Or you want to climb Mount Everest, which is the biggest goal, that if I climb it, I'm going to be, you know, I'll be the happiest person in the world. You climb it, you're probably okay for the next few days, and then again you're down to ground zero. So I think one has to figure out, ah, the purpose of life, In a more deeper sense, and therefore the internal journey is a very important one, and as you go, ah, as you delve into yourself deeper, which is what the spiritual journey is about, as you gain great amount of self-awareness, you begin to get a much better appreciation about the connectedness of life and your own position as a part of a much larger ecosystem. So I, I believe that, ah, ah, That spirituality is also about, ah, figuring out your relationship with the rest of the world, and how best, ah, can you, you know, contribute to, to the rest of the world in keeping the ecosystem absolutely bal…

AI assessment note: “the practice of spirituality, ah, enables you, or in some ways encourages you to go inwards.”