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Shyam Lal Kirodia was engaged in the family business of trading in natural silk yarn
in a large town of Eastern Uttar Pradesh. The town had lot of potential for silk yarn
demand as there were plenty of weavers engaged in weaving sarees popularly known as
‘Banarasi sarees’. At the initial stage, the trading business of Kirodia’s father was not
flourishing. However, after the death of his father, when SL Kirodia assumed the full-
fledged responsibility of the business, he expanded it manifold with untiring efforts. With
the result, he became number one trader of the city and earned lot of money. He
constructed his own five- story house in the prime business area of the city with a view
that ground and first floors would be used for business purpose and the remaining floors
would be used for residential purpose.
Trading of silk yarn involves procuring of silk yarn from silk producing centres
mostly at Bangalore and adjoining areas and some part of Jammu and Kashmir. Besides
silk yarn is imported mostly from China. Silk yarn is distributed directly to weavers who
are mostly illiterate manual workers or to semi-wholesalers. The yarn is supplied on credit
basis ranging from one week to two weeks with a provision that interest at the rate of two
per cent per month will be charged if the payment is delayed beyond the stipulated time.
When Kirodia made huge profit in his trading business, he started in investing a part of the
profit in buying companies’ shares both from the primary market and secondary market.
Gradually, he alongwith his family members became shareholders of about 250
companies.
Kirodia has three sons and when they were quite grown up, he decided to step
down from the trading business and entered the field of share broking. In late 1994, he
approached a share broker of National Stock Exchange (NSE) for the purpose with his
friends and was successful in getting sub-brokership from the main broker located at
Mumbai. He formed a firm known as SK Financial Services. Since this was the only firm
of this type in the city, it attracted lot of business at the initial stage. Over the period of
time, the firm was converted into a limited company under the name of Kirodia Capital
Services Limited with shareholders drawn mostly from his family and friends.
NSE offered computerised trading system from the very beginning. In this system,
a share broker or sub broker has to install VAST (vary small aperture terminal), a special
purpose dish antenna, and computers and accessories besides office furniture, etc. The
process of operating a sub-broker’s office is as follows:
(a) Orders for buying/selling shares are obtained from the customers either
through personal contacts or through telephones. A customer may give order either
at the market rate, that is, at the prevailing rate on which he can buy/sell
immediately, or a prescribed rate and the transaction will effected when this rate
comes. In both these cases, the transaction has to be confirmed by the sub-broker.
(b) After the end of the settlement period which is for a week, the sub-broker
prepares a list of transactions which have been executed. He collects money for
the purchases from his customers immediately but gives shares after about three
weeks because he has to deposit the money in advance to his broker who sends
the shares later after the settlement of shares takes place at NSE. Similarly, the
sub broker receives shares from his customers and sends these to his broker from
where money comes after certain interval, usually three weeks.
At the initial stage, share – broking business did quite well but later, it started
dwindling. Many customers flew away to other brokers as many new brokers entered the
business subsequently. The turnover rate of employees at Kirodia’s office was quite high;
on an average no computer operator worked for more than a year. Some of the reasons
which old customers of Kirodia cited were as follows :
(a) Kirodia did not believe anyone in the matter of customer relationship.
(c) If a customer had negative impact from his transactions. Kirodia would
reprimand him like anything saying that he advised not to do this or that. This
became quite embarrassing to a customer and heart his feelings.
(d) He spoke too loudly on telephone which interfered unnecessarily with the
concentration of the customers who used to present in the sub-broker’s office.
(e) His overall behaviour was not that of helping and cooperating. Many
customers just wondered ‘how he made so much money in his trading business
and flopped in share-broking business’.
1. Assess the personality of Kirodia and point out the personality factors, which made
him successful in trading business and factors let him down in share-broking business.
2. What behavioural change would you suggest for Kirodia and how such a change
can be brought?
3. Can his behaviour be changed at such a late stage of life? Give reasons.
Develop a structure and strategic perspective around your trading. Then, use the right
tactics.
Ensure you are consistent in applying the tactics needed to enforce the strategy.
Successful traders see their trading as a business, and It would be foolish to go into
business undercapitalised and without sufficient liquidity. Many do take the gamble, and
some survive, owing their success to good fortune (which can only ever be stretched so
far). Running a business requires careful and tight management of costs and expenditure.
Prudent business owners do not put all their ‘eggs’ in ‘one basket’. Trading should follow
the same principles. Successful traders devote a lot of time to these issues. They know
that failure to adhere to basic principles of money management leads to ruin. It is
surprising how many traders engage in simple acts like not placing stops, removing stops,
or placing too large a trade, which can cause losses to multiply and greatly increase the
risk of failure. Taking profits too quickly means they fail to cover the costs of their losses,
and many traders focus on how much they believe they can make, neglecting to assess
how much they could lose. Some traders run their trading on Martingale principles,
something which only has to fail once to lead to wipe-out. One final point: Money-
management is the unexciting, somewhat boring aspect of trading, however this is so
crucial and important that it should carry equal weight with other key aspects of trading.
This is where many of the ‘excitement seekers’ or ‘creative types’ fall foul. Too often
people put their energies into assessing market direction, and where to enter and exit the
market, they completely ignore or give scant attention to money-management. The
“Mastery of Trading” image emphasises the importance of accounting for ‘Money and Risk
Management’ within a trading strategy. Helpful behaviours to support development of this
trait:
Focus on long-term goals and objectives, and the tools necessary to achieve them.
Review and evaluate actions and behaviours used within your activities.
Practice ways to clear the mind and develop objective thinking and reflection.
Trait 10) Achieving Balance and Perspective in Life.
Successful traders try to keep their external lives in balance, holistic, and uncomplicated.
Trading is a part of their lives, so if the other parts of their lives are out of balance or synch
then this will affect their trading. Likewise, when their trading is out of balance, this can
have an effect of the other parts of their lives. Many traders will look to remain fit and
healthy and avoid doing things to excess. Likewise, they try to keep family matters as
uncomplicated as possible. Their own investments tend to be safe and relatively un-
complex. All of this helps ensure a clear and uncluttered mind in order to focus attention
and resources on trading. It is easy to forget the human element to trading, as people try
to add further to their tools, electronic systems, instruments and technical capabilities.
However, it is our human aspects that make us successful. The great British Army Officer
Field Marshal Montgomery, who achieved such success in the second world war, once
said, ‘Man is still the first weapon of war.’ This is the same in trading: our humanity and our
mind’s capabilities, despite limitations and flaws, are significantly more powerful than the
most advanced computers. Helpful behaviours to support development of this trait:
Step back from the fray. Make time in advance for other interests and responsibilities.
Practice ways to clear the mind and develop objective thinking and reflection.
Focus on long-term goals and objectives, alongside associated strategies and tactics.
Share your thoughts and feeling with a sympathetic listener, close friend, spouse or
partner.
1. Integrity
The first step to selling any home is winning a buyer’s trust. If an agent is purely
profit-driven, buyers can sense it. The best agents genuinely want to help their
buyers. Sometimes, this means going above and beyond for little or no return to
build your reputation as an agent with integrity.
2. Proactive nature
3. Persistence
Top agents follow up on leads as soon as possible, and stay with them. They
know that sometimes it takes several weeks or months for buyers to truly begin
their home search, so they use that time to build a relationship.
“I work on my leads until they’re dead. I’m not afraid to kick a dead
horse. You’re supposed to follow up at least five or six times, but I
will follow up more if I think there’s any chance they’ll choose me as
their agent. If someone is unresponsive, I try different modes of
communication until I get a response. The worst thing they’ll do is
tell me they’re not interested in buying a house. That’s fine! More
time to follow up on other leads.”
4. Love of competition
In this business, things can get tough. It’s a competitive industry, so agents have
to be ambitious and driven to succeed. Successful agents don’t blame struggles
on outside factors—they dig deep to push past encountered obstacles and get
things done.
If they’re getting bad leads, top sellers find a way to convert them into good
leads. But, they also don’t solely rely on leads provided by their brokerage firms.
Ultimately, it’s up to agents to generate leads and grow their own business.
5. Outgoing and extroverted
You can’t be shy as a real estate agent. To be good at selling homes, you have
to be able to talk to people. Really, you should develop a love for talking to
people.
Top agents make friends and grow their network everywhere they go, handing out
cards to virtually everyone they talk to. Most of all, successful agents aren’t
afraid to pick up the phone or go out of their way to connect with people.
With each meeting, you increase your sphere of influence by at least one
person.
6. Detail-oriented
The dullest aspect of selling homes is the paperwork, but successful agents stay
organized and on top of the details, carefully guiding their clients through the
entire process, from contract to close.
“I always make sure to write a strong contract that protects my client’s interests,
especially earnest money,” says Mileman. “If the contract doesn’t address
something important to my client, I add it to the special stipulations in clear
language so that all parties are on the same page. Then I carefully track all due
diligence and contingency dates—I put them in my calendar in red.”
. Experience
Seasoned real estate agents have seen enough contracts to know what to
expect. They can anticipate challenges that newer agents may not know how to
prepare for.
It takes time to build a strong network. The longer you stick with selling homes,
the better you’ll get at it. Over time—especially for agents who stay within the
same region—your network will grow, and you’ll learn your market inside and
out
And while personality traits are relatively stable over time, they can and often do
gradually change across the life span. ... Sudden, dramatic changes in personalityare
rare. Due to their effects on behavior and continuity over time, personality traits help
shape the course of people's lives.
Personality changes for the better with age. ... The researchers, who evaluated data
from 132,515 adults, ages 21-60, looked at overall life span trends in the "Big
Five" personality traits--conscientiousness, agreeableness, neuroticism, openness and
extraversion.
Read why people with dementia may become aggressive and get practical advice for care.
Get advice
Repetition – the person may repeat certain behaviours (for example, carrying out
the same activity or making the same gesture over and over). This may be because
they feel anxious or want comfort. Their natural interaction with their environment
may have been disrupted (for example by memory loss) and the behaviour is a way
to make sense of what is going on. It can help to look for meaning behind the
behaviour and try to remain calm and patient.
Hallucinations and delusions – some people with dementia experience
hallucinations, in which they see, hear, smell, taste or feel things that are not really
there. However, sometimes the person may not be hallucinating but mistaking what
they have seen for something else (for example, they may see a dark rug and think
it is a hole in the ground). Others may develop delusions, where they strongly
believe things that aren’t based on reality but feel real to them (for example, they
may be convinced that someone is stealing from them). Talking calmly to the
person, offering reassurance and meaningful activity (such as going for a walk or
doing something around the house) can help. If you think the person is
experiencing hallucinations or delusions see the GP. For more information see our
factsheet on sight, perception and hallucinations in dementia.
Restlessness –many people with dementia become restless and may fidget or
pace up and down. This could be for a range of reasons such as pain or discomfort,
needing the toilet, a need for more physical activity or problems with their
environment (for example if they are just sat in the same place with no stimulation
for much of the day). It may also be because the person used to move around a lot
as part of their job. It may help to encourage exercise (such as going for a walk
every day) or meaningful activity including activities related to past roles, interests
and hobbies, as well as new interests.
The person may move their hands much more often. They may constantly wring their hands, pull at
their clothes, tap or fidget, or touch themselves inappropriately in public. This can be a sign of a
need – for example, the person may pull at their clothes because they are too hot or need the toilet.
A rummage box, containing objects related to the person’s past such as pictures, jewellery or
souvenirs, may help as it gives the person an opportunity for moving their hands.
Find out more about causes of restlessness and tips for carers.
Try and understand what may be causing the person’s behaviour, and think about whether they have
any unmet needs.
Ensure that any glasses or hearing aids are clean and functioning properly. Arrange
regular sight and hearing checks.
Check whether the person’s medication is appropriate or whether they might be ill
or in pain (see ‘Health problems’ below). A visit to the GP to rule out any physical
problems is a good idea.
Check that they are not being disturbed by too many people, too much activity, loud
noises, sudden movements or an uncomfortable environment (for example, one
that is too hot or too bright).
Consider whether they may be bored or in need of stimulation. Engage the person
in meaningful activities. Gentle activities such as a hand massage, listening to their
favourite music or stroking a soft piece of fabric may help.
Make sure the person is comfortable – for example not in pain, too hot, cold,
hungry, thirsty, or needing the toilet.
Customer service:
This is yet another important factor that governs the selection of broker. Try to ask
any relevant or irrelevant question to customer service of your broker and check what
is the response time. How quickly they can resolve your issues. This need to be taken
care of as at any point of time you may need customer service for the proper working
of your account, and if not fixed in time, it may push you in serious trouble.
Capacity for independent work
Excellent communication, mathematical and analytical skills
Working in a hectic, pressured, constantly changing environment
Aptitude for research and financial writing
Basic computer skills
Making important decisions quickly
Extensive knowledge of the finance industry
Maturity and confidence when dealing with people
Networking in order to recruit clients
Willingness to transfer to other branches
Keeping abreast of and understanding economic conditions and trends
Lack of discipline
Lack of patience