 Thank you for inviting me for this conference. This is the first time I'm speaking in front of a non-finance crowd, so I'm very nervous and very happy to see very few people in this room. So today, what I'm going to talk about is basically my experience in running this website and blog called Saffal Niveshak. So if you don't understand Hindi, Saffal Niveshak is what successful investor all about. So successful investor in Hindi is called Saffal Niveshak. I actually wanted to start a Hindi website five years back when I was planning for this thing and thus book this domain, but then realize that there's not a big market for people who visit the web from the Hindi heartland. And that's the reason I maintain this domain name because I liked it and it has really done well for me in terms of the fact that people who don't understand Hindi, they still like what I do on Saffal Niveshak, especially people from outside India. So I think the message which I get is that the message or the things which I'm writing on Saffal Niveshak is much more important in terms of building a brand or building a community than the domain. So thanks again. I call the readers on Saffal Niveshak a tribe. I actually borrowed this term from Seth Gordon who wrote a very wonderful book called Tribes. And that was one of the biggest inspirations for me. I used to read a lot of Seth Gordon while I was planning Saffal Niveshak. In 2010, I was working as a stock market analyst for eight years in Bombay, being paid very well. So I'll talk about why I'm talking about being paid very well. And writing recommendation reports, stock tips for small investors. Okay, so I was working as a stock market analyst and researching stocks, so entirely into the finance industry, did my MBA in finance and got into this industry by luck. The idea, the reason I started Saffal Niveshak was to actually get on ground and educate people on what should they be doing with their money in the sense that I saw a lot of people losing their money recklessly in the stock markets, in the financial markets, both because they were not educated and secondly, because they were dealt wrong hand by their financial advisors. So the idea I started Saffal Niveshak was because I wanted to actually get on ground and educate people on learning about sensible investing. The reason I call it a tribe is because tribe is basically people who are connected to each other. They're connected to a leader and connected to an idea. So there's nothing like a leader on Saffal Niveshak. Of course, I call myself the chief tribe member, but then there are like 20,000 people who are now connected to an idea which is called value investing. Value investing in simple terms is identifying good quality businesses and buying them cheap. So if you can find something which is high quality stuff and you can assess whether that stuff is worth 100 rupees, when you buy it for 50 rupees in the stock market, that's the entire idea of value investing. People generally don't do that. People buy bad stuff and they're too expensive. So the reason I call it a tribe is because I wanted to bring that idea onto a platform which is Saffal Niveshak and actually connect a lot of people, mainly investors who wanted to learn about investing. What is Saffal Niveshak all about? It's an initiative to educate and empower small investors to make intelligent and independent investing decisions. Now, if you look at the financial markets, they like at the intersection of three things, most important things that we really face. One is greed, the other is fear, the third is stupidity. And that's where Saffal Niveshak comes into picture. As I realized based on my experience and based on seeing other businesses, I think the success of a business really lies in the proportion of how well you understand the problem. And I think if you can identify with a problem that you yourself are facing, you'll do well as far as your business is concerned. So being stupid, I think, has been one of the fundamental reasons. I being stupid in my investment decisions in the past and seeing a lot of stupidity happening all around me, I think that was the fundamental reason. I thought that there was a big market for people or there's a big market to actually teach people on how to really avoid. These are fundamental emotions that we all go through. I think since prehistoric times. So in no way I can really aim to change all that thing. But my idea through Saffal Niveshak actually help people minimize the mistakes that they make out of these emotions of greed, fear, and stupidity. And that's the reason in hindsight, I think this idea has worked for me. How Saffal Niveshak runs. So we are 100% bootstrap. All we have worked, which is website technology. We do very basic technology, not really high tech stuff. Miting, emailing, social media, housekeeping. Everything is handled in-house. So I personally don't really spending, don't like spending money on stuff which I can learn to do on my own. And that's the reason it's 100% bootstrap. We're just a two-member team, no offices. We work out of your homes. I started this five years back and Anshul, my partner, he's sitting here. He works out of Bangalore from his home. He joined me last year. So again, low cost. A complete focus is on teaching people to become better investors. So there have been opportunities for us where people wanted us to start stock recommendation and stock tipping and they wanted us to manage their money. But I think this is something that we've really clearly focused on. We don't want to get anywhere outside education. And there's a big market for that in terms of teaching people how to become better investors. The principles on the Saffal Niveshak stands is unbiased, independent, and brutally honest. I think these are the key principles which is missing from the financial services industry. People are biased, people are not independent. People are not honest. And I think that really sets us apart. Are analytical skills or the skills in identifying businesses or skills in writing about value investing is not something which really keeps us apart. I think it's the idea of being honest to your reader, to your customer, being independent in what you're writing because when it comes to money, it's the people easily get fooled. So I think being honest is something which is very important. It's not been easy, Mark Thames said. It's easier to fool people than to convince them that they have been fooled. So for us, it's not been easy. It's very easy to deceive people, but it's very difficult to educate them. And we have realized that over the past five years that when you talk about education, when you talk about sensible long-term investing and that you need to learn how to become sensible as far as investments are concerned, people won't come or very few people will come. But when there's a CNBC, sorry for calling names, but when there's CNBC which organizes an investor camp and all they talk about is stock trading and how to buy and sell stocks, technical charts and all those kind of jargons, which really lead people to lose money. I think there are a lot more people who will attend such seminars, such workshops, such courses. So it's not been easy for us, but I think as I mentioned the idea, the complete focus is on doing what we think is a big problem in terms of minimizing the stupidities that people make. And I think that's the part that we have consciously chosen for ourselves as far as the fund is concerned. Just a short stuff on what we'd exactly do before I come to the learnings as far as what we've learned from Safal Mehwish again from our journey of being an entrepreneur over the past five years. Some offline stuff, so apart from the website that we have, we do workshops and this is a photograph of the first ever workshop I did in Bangalore in 2012. I started with the model where people were not invite us to pay a fixed price. So I said, come and attend my workshop, learn about value investing and pay me anything between zero and 5,000 after the workshop is over. And trust me, it was a very difficult decision because I had quit my job, there was no revenue stream and doing it for two years on go was very difficult. But the entire idea that I mentioned was built on trust that people trust me and they would come and I trust them, I trust people and they would come and they like it and probably they'll pay me. And the idea really worked because over these two years when I did not have any fixed price for my workshops people paid me enough to meet my cost and earn a small profit. So that was a great thing. But then things happened. I think there was an inflection point sometime in 2012 after one year from starting Saffronovish where people started reading more and more people were coming on the platform. And this has happened over a number of years. We see that kind of audience, the kind of and mind you, these are not people who paid zero to 2,000. These are people who actually paid a fixed fee, a high fixed fee for attending the workshop. So this is one realization that when you charge people, they find value. When you offer something for free, I think and then when you start charging people I think it's a very difficult work to do over a period of time. But when you charge people money for the stuff that you're providing, people find value. And as I've realized more people come when you tell them that this is the price that you have to pay and this is the value, this is the kind of value that you receive. So past five years, 50 plus workshop, 1300 plus participants across 10, 10, 12 different cities something that we never really expected. Coming to the online work, the website is where we do most of our stuff, 18, 90% of our stuff happens on the website. So we have a free newsletter which I started in 2011. It's called the Saffal-Nivechak post which is written price a week. And we've already written 700 plus articles. These are all free stuff. So this is free, free, free everywhere. 18, 90% of Saffal-Nivechak is free. And we've done interviews with people. So the idea is to build a tribe based on content, I think, to teach people, not asking them for money for the free stuff that you're writing and to do most of the stuff free so that people come, they like, they start trusting you. And then of course, based on that trust, you can definitely provide them some premium stuff. Again, people would buy that only when they trust you. So this is the journey that has happened for the free newsletter, started with 10 people including one which was me, myself. And now we have like 20,000 readers of Saffal-Nivechak post. The most important thing I think is not the grow. The most important thing is that it has come 100% by word of mouth. We've never advertised, I've never advertised for Saffal-Nivechak. We've never bought Google ads, we've never really sold brochures or shared brochures or at different events. The only thing that we've done is to consistently do what we are doing that is educating people honestly. And we have like 20,000 subscribers from, if I were to just talk about a number, they're like 130 different countries. Of course, most of the readers come from India, US, the Middle East, UAE. But then Saffal-Nivechak, despite being a Hindi term, there are readers from across the world and that's something that really encourages us. So that's a growth of, if I were to calculate the growth from 10 people to 20,000, it's a growth of around 3.5, 3.2% per week. So I'm not sure how many of you've heard of this eight wonder of the world which is called power of compounding. Power of compounding simply means that small changes which largely go unnoticed, but over a long period of time can create really big kind of stuff. So if I were to ask you a question, how do you reach the moon for free? Is there a way to reach the moon for free? You have to fold a piece of paper 45 times. If you can fold a piece of paper, paper 45 times, the distance would be from earth to moon. Just 45 times. Of course, you cannot fold a piece of paper 45 times. Another question, if I were to put one grain of rice on the first block of the chessboard and double it for the every block, how many grains of rice would I have on the 64th block? Of course, I'm sure people will guess and people will say some million or billion or trillion something. The number of grains of rice on the 64th block will be a heap bigger than Mount Everest. Will be equal to more than what the total rice production in the world is at today. That's a power of compounding. Of course your money doubles, does not double every month or every week and the number of subscribers also don't double, but I was just calculating this is the growth of 3.2% per week. And that is why growth is so important for startups of small businesses. If I were to grow and extend this growth for the next five years at only 1%, at only 1% but for the next five years and consistently do what I'm doing, we'll reach around 260,000 subscribers. Again, entirely word of mouth. I'm saying doing what I'm doing currently, not doing any advertising, nothing. That will really take us into a much higher orbit but I think doing something gradually, consistently, honestly for a long period of time, I think that is the most important idea that really, this chart really talks about as far as number of subscribers of growth for a business is concerned. Another online stuff which I started in 2013, now this is a premium stuff, so this is a value investing course which is a completely online value investing course. You get online courses and videos and everything. It has around 1300 plus subscribers again from 15 different countries and these are not just Indians, they are like citizens and guys from different countries who are actually subscribing to this thing. So it's universal. The service which I'm doing, the product which I'm selling is universal. I think that's one, another important idea to really start a business that you want to scale it up beyond the geographies. The idea was not to do that but then idea was to do what we knew best and the problems that people are facing and you realize that the problems that people face across the world are same. So this has really helped us. Another premium thing that we launched just last year was a newsletter called the Value Investing Almanac and we actually bought a special software to protect the privacy of this newsletter in the sense that it's called Lock Lizard which is used by many big organizations globally where someone needs to download a free software and I will get them a license to open that PDF kind of a file and you cannot really share it if you're not a subscriber. So we have 400 plus subscribers including a lot of leading value investors across the world who subscribe to this thing. Again, no advertising. One lesson, blogging for business or I think writing content marketing, one big lesson that what we have learned is this is something that most people would do. When you go to a website, they would sell you something or just because they have your email ID, they'll send you a lot of spam email, buy my stuff, buy this stuff. This is the best of 50% discount, all this kind of stuff. I think this is not what works. We've not tried it but we've seen it. People failing and you yourself must experience that when you receive an email with an offer from someone unknown I think you don't trust that person and you'd rather put that email in a spam. So this is not what really works. What has really worked for us is you need to convert that stranger into a friend gradually again. I'm not talking about say because your ultimate goal is not to turn him into customers. It is of course but then you are thinking of that you genuinely want to help that person turn that stranger into a friend and then try to turn that friend to the customer. Of 100 people who started strangers on your website there'll be only two or three who are ultimately turned out to be customers but these would be lifelong customers because they have traveled a distance, they have become your friend, they have started trusting you and then they have actually become your customers. And this really works well. It has worked well for me and I'm sure this is what I've learned from most successful businesses online and offline that this journey has to be there. You cannot really expect to turn things around in a quick span of time. How we do it all? Again, I've talked about being trustworthy. You have to tell a story. You really can't be boring. Especially online, whether you're a blog, whether you're a website, your website must tell a story. I think you need to talk to the customer or a stranger like a friend. You cannot really, of course you guys are, most of you guys are technology guys and so will be a website but you need to tell a story. The stranger needs to connect with what he's reading on your website. I think this is what is called as user experience. So people design websites based on technology but I think we need to design websites based on what the user wants to experience. So that's user experience. I think it's one of the most important ideas for me personally as far as looking at Saffal Neveshi going forward is concerned. Don't need to sell. Again, you need to educate people to buy and I think that that's a way you can convert them into lifelong buyers of your service. You have to be honest. You have to lay down your incentives clear and you have to be reliable. I think whether you're selling a software product, whether you're selling a service, whether you're selling anything, you have to be reliable. You have to communicate with your people regularly. I think that's one of the most important things. And one final thing about Saffal Neveshi, this is the return on investment of doing it well. So I'm not really put in actual numbers for the sake of not inviting competition but the return on investment on doing it well, if I were to say 100 rupees was my salary because I'm a sole, I was a sole entrepreneur and she'll work along with me but just to give a number, if I was earning 100 rupees and mind you as I mentioned, stock market analysts get paid a lot of money, undeserving kind of money for the kind of work that they're doing. If I were paying, if I were earning 100 rupees at the start of Saffal Neveshi, when I was putting my job, my earning during the first year was 40 rupees. So it was tough. As I mentioned, all businesses, all startups actually do face tough times in the first few years or first few months of their life but things actually started because I mentioned doing consistently what you like doing and what you think is a big problem because you yourself are facing that problem. I think it really works out well over a long period of time. The idea is again to give a long period of time. I'm not sure what's the kind of future that Saffal Neveshi will have but as we see it, as of now, both in terms of the kind of work that we do, that we really love doing and the kind of incentives, the investment, the return that we get on our investment of time, effort and of course spending on the website and everything. It has really worked wonders for us which really keeps us moving. No advertising costs, entirely based on trust and referral. No advertising costs. We've not really spent many money on it but in fact, when I was starting this website and for the first one year, the only money that I paid or the first two years, the only money which I paid was on buying the domain name in the first year and posting the website. Even the emailers from MailChimp are free for the first two years because we did not have so many subscribers. Of course we pay MailChimp for emailing as well but then if you can compare to the kind of return that we're getting from the effort that we're doing, I think it's a highly scalable business and especially being online because when you write a newsletter which is the premium newsletter, when you offer a course, you can sell the same course to 100 people, you can sell the same course without any incremental effort to 5,000 people. So I'm sure no one from this room will actually get into this business and destroy our returns but I think that's a way for any business that your business has to be scalable without much incremental effort. I think that's a way, otherwise you're working on a job. Even if you're starting up or you're running a business, you're working on a job. So the idea is to actually love doing what you're doing. This is what we are doing in Saffron, Malaysia and do it reasonably well. Some recognition we've received, so there's a leading blog in the US which actually wrote about us in terms of the top 10 slam dunk, the third term that they use, investing blogs to make you investing all-star. The only website from India was Saffron, Malaysia and this happened actually three years back. So we were just into the third year, so unexpected good surprise for us. And then something really big happened. How many of you know Warren Buffett? Oh, everyone knows. How many of you know Charlie Munger? Charlie Munger is a business partner of Warren Buffett and he's actually the right-hand or left-hand man of Warren Buffett. He's one of the richest guys. Again, one of the best minds in investing that you can really find in the world. And if you've not really read this book, even if you are not into finance or investing, I'm sure I would say with 100% guarantee that you love this book on Charlie Munger, which is called The Poor Charlie's Almanac, which is actually a compilation of his teachings, his lectures, his speeches, whatever learnings someone can really get from Charlie Munger. It's in a book called The Poor Charlie's Almanac and late last year I got this book as a surprise from Charlie Munger with his autograph and my name handwritten by Charlie Munger. This again came as an unexpected surprise for me. So I think these are the benefits or these are the advantages that you, or these are things actually that which keep you moving on apart from the money that you get, I think more than the money that you get. So motivation, a big motivation in terms of getting a book autographed by Charlie Munger without knowing what is happening. So that's all about Saffronivation now. I'll just spend some time on the lessons, that big lessons that we've learned. Rather, I won't like to be a preachy here, but some of the lessons that we are actually learned in our journey of Saffronivation and I think which really can benefit a lot of people who are starting out or who are facing some issues in their business. The first lesson that we've learned is that you need to think really long term and I think this is what Jeff Bezos said, that if everyone, if everything you do needs to be done, you work on a three-year horizon, then you're actually competing against a lot of people. So I think, but the fact is that if you work from a seven to 10 year horizon, then you are competing against a fraction of those people because very few companies are willing to do that. So if you're thinking from a seven to 10 year horizon, I'm not talking about seven to 10 year planning, you really can't plan so long. Of course, you should not, in fact, you should not really plan so long when you are working on a startup or you are trying to grow. You need to work on short-term plans, but your eyes should be set, I think, on the long-term horizon. This is what our eyes at Sufarnivish have set on. Just by lengthening the time horizon from two to three years or what we want to achieve in two to three years, if we are to work on something that we want to achieve in the next seven to 10 years, I think that's something amazing, that a big learning that we have really had from Sufarnivish. So second thing, very important thing that we've learned is we need to focus on what's not going to change. I want to share a video from, again, from Jeff Bezos. He says that you can build a business strategy only on things which are not going to change. So technology is changing. Of course, you cannot really build a business strategy around technology, but then, as Bezos says, and he's proved with his business and his investments in Amazon over a long period of time, things that really work out as business strategy are things which are not going to change in the long run, and I'm going to show a small video in terms of explaining to you what I am actually talking about. I'm not going to change in the next 10 years, and I submit to you that that second question is actually the more important of the two, because you can build a business strategy around the things that are stable in time, and so, as you pointed out, in our retail business, we know that customers want low prices, and I know that's going to be true 10 years from now. They want fast delivery. They want fast selection. It's impossible to imagine a future 10 years from now where a customer comes up to me and says, Jeff, I love Amazon. I just wish the prices were a little higher. You know how you, I love Amazon. I just wish you delivered a little more slowly. Impossible. And so the effort that we put into those things, spinning those things up, we know the energy we put into it today will still be paying dividends for our customers 10 years from now, and so those, when you have something that you know is true, even over the long term, you can afford to put a lot of energy into it. Technology not working to your advantage. I think this is not going to change over the long period of time. So I think, again, coming back to the same point, what's not going to change? So they hear some things which we believe at Saffal Neveshak is not going to change, or things which are going to change versus not going to change. How content is delivered in terms of videos, audios, podcast, blog, written stuff, and how content is consumed, again, on handset, on laptops, on tablets, this is going to change. I think you guys understand better things as far as delivery of content and as far as consumption of content or anything that consumers want to consume is going to change over the next 10 years. So we are really not really, we cannot really plan a business around what's going to change. Of course, we are getting into doing a lot more videos and doing a lot more podcasts, but this is not something which I hand. But what is in a hand? I think three important things. People wanting to learn the right things on how to invest their money sensibly. People wanting to trust someone to get them well and people willing to patronize business they like, which is word of mouth. This is not going to change. These things have not really changed in the last 100 years, ever since the stock market has really been, especially the first thing. And the second thing, because people are losing trust on financial advisors and that's the reason they want to bring things back into their own hand. These are things which are not going to change. And this is, I think, our focus area. We completely focus on what is not going to change and then work on that aspect of the business. The third most important thing that I have learned and I think it's a great learning for all entrepreneurs. You don't need to be a man with a hammer because then everything in the world will look like a nail. Because if you have only one tool in your toolkit, everything that you want to solve in the world, every problem you want to solve in the world will be through the tool. Maybe it's technology, maybe it's finance. Charlie Munger says this, I constantly see people rise in life who are not the smartest. Sometimes not even the most diligent but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy, does that help particularly when you have a long run ahead of you. So as an entrepreneur, I understand that I need to know about the big ideas from diverse fields like psychology, physics, not every idea but big ideas from business, from economics, from evolution and use them as several tools from a toolkit I think when I am running my business and there are great dangers of knowing just one thing. Like finance or technology and if you just focus on only one thing I think that's going to lead you to a lot of trouble because you'd be like a man with a hammer. If you only understand technology and you only look at your business from the technology point of view, I think there are dangers lying ahead but if you only, for example, if I only understood finance and looked at suffering which only from that point of view there are dangers lying ahead in front of me and that's the reason I have to have that multidisciplinary bent of mind. Any kind of businessman you are, I think, any kind of, not just businessman even if you're working on a job having that multidisciplinary kind of a mindset and learning the big ideas from different fields and trying to connect them as you go forward I think that's the best thing that you can do as far as being a better learner, a better businessman or a better employee is concerned. So another big lesson. The third big lesson, the fourth big lesson is something which we really practice as I've talked about having a strict control on the amount of spending that we are doing because we believe that we can't rely on money to solve all our problems and I think this is the reason most new businesses, most startups we see around us fail because they start to throw money at all the problems and the first thing that I think that's something unusual, not really unusual, unusual, it's very normal these days. People want to start up, they want to get money from angel investors, VCs and they want to go out aim for an IPO and just sell off the business. I think the probability of, or the size of success in startups is huge, I think can be huge. The size of success that you can achieve in startups can be huge, but so is the probability of failure. I think we need to look at both sides of the coin and here's this small, again a small clip from Jack Ma of Alibaba where he talks about not really relying on money to solve all your problems. So again, a small clip on show, please help me. Excellent. I've always been a teacher. The second thing I think is very unusual. Why don't we have money? We really don't have money. I've always been a teacher at that time, then I started my own business and went to foreign trade, and got $4,000 for a month of salary. That was $0.10. So I started my own business with $50,000. We spent any amount of money, and it was all possible. My competitor was stronger than me. So I understood a reason why many entrepreneurs died not because they didn't have money, but because they had too much money. Because you think when you use money to solve problems, your problems are already here. I think the problems of money are not problems. Money is just an important means to solve problems. So many people say I have money, I can do this, this person is basically a failure. From this day on, it's a failure. So until today, Alibaba may be the Internet of China, and it's one of the most popular companies in the world. We still keep this style. We hope that we will always understand that I've said before, money is like a country's army. You can't easily understand it. But once you understand it, you must win. Money can't be messed up. Money can solve problems. This is one lesson which I share with a lot of people who want to get into, say, stock markets full-time, quit their jobs and get into businesses of their own. And the question that they have is when do you think is the right time to start up? So I think for me, being from a finance background, it's very important to have that financial life under control. So you should have no liabilities of your own. You should be a minimalist. I think your family should be supportive. You should be able to live on very low cost. I'm not talking about compromising your present for the future, but I'm talking about being able to live happily at low cost. I think these are some of the core mantras of people who want to start up afresh without much financial backing. So this has really helped me in terms of having zero financial liabilities and a good supportive family. And something that I thought that would work because this is the problem I was facing as far as stupidities and investments are concerned. So the fifth lesson, Safalil Vesheh teaches me or which I learned from other successful businesses that you need to believe in the J-curve. Now what's the J-curve? J-curve is the time that you spend over a period of time where your business does not return much, but then there's an inflection point and really shoots up. So if the probability of the objective is great, you need to work, work, work at it. And you may succeed in an epic way. So look at what Elon Musk has achieved. It's very easy to consider. Elon Musk can advance in space, electric cars, solar power, and you think it's rapidly, it's ridiculously rapid. But that's not the case. I think SpaceX, if you see, it was founded in 2002. Tesla was in June, July 2003. That's around 12 to 13 years back. So while we are seeing huge acceleration in what these companies can do or what Elon Musk is doing, these have not been overnight successes, I think. It's only that they have become better with time. So what we are really seeking with Musk's businesses or our businesses are returns which are on the far side of the J-curve. So spending our effort and then expecting, not expecting results out of any kind of business, but you understand that the business is going to do well. It's only the interim that I need to struggle. So I think believing in the J-curve is one of the most important things that you can do if you want to really create a big, profitable, scalable business over the long period of time. Sixth important lesson is you should know where you will die and please don't go there. I think this comes from, again, from a lesson which I've learned so many times from Charlie Munger. He says, all I want to know is where I'm going to die so that I will not go there. So this is the game called Russian roulette where, again, there's a story which Nasim Taleb writes about in his book called Fool by Randomness and he says that a lot of people play Russian roulette. What's a Russian roulette? Where you fill the gun with one bullet in one of the chambers and all the other chambers are empty and you're asked to put that gun on your head and fire. So if there are six chambers you'll be happy five times but you'll become a statistic in the sixth time. You're dead. So even if someone is offering you $10 million to play that Russian roulette, the question is would you play it? I would not play it personally and I have seen people who are playing Russian roulette actually they're happy sometimes when they are making the money. When the chamber is not filled with the bullet but the sixth time when it really shoots, you're gone. So very important, I think as far as the business is concerned or my business is concerned taking my customers for granted or spending cash recklessly without idea of how we are going to generate it. I think these are all ways to get killed and we at Safalna Vishak try to avoid it. I think that's one of the learnings that any business can have that please don't do anything that is going to kill you in the future. So very important. And the seventh and one of the most important rules is lessons you need to believe in luck. I think a lot of good luck. Everyone else is lucky but I think luck like love is a verb and what is a verb? Verb is action I think when you practice, when you do the hard work you get lucky over a period of time. I'm again referring to the J curve. So again one lesson that you need to in hindsight if I were to look at Safalna Vishak's journey I would call it a huge amount of luck that really came my way that there was not many people or no one who was doing what I was doing. Still I don't find people who are doing the kind of stuff and the most important thing that we did not lose hope in the first two years when the business was not doing well and actually kept on doing what we were doing. So in hindsight was big luck for us but I think you need to work hard. This is a lesson you need to work hard if you want luck to come your way. The golden circle from Simon Sinek he says people don't buy what you do they buy why you do it and what you do is simply proves what you believe in. I think we need to find out we are trying to find the why of our business and if you are successful in finding why you are doing what you are doing I think this will solve a lot of the problems. I think this is one of the core secrets of success or secrets of not feeling in your business and I think this is really helped us finding our why why we are doing what we are doing in Safalna Vishak. So I think that's all from my side in far as Safalna Vishak was concerned being low cost being lean and not really doing anything that is going to kill us having a complete focus on the ultimate reader or the customer and believing in luck I think some of the key learnings that will help us so that's all from