A lot of Pharma guys either live hand to mouth or do not realize that life is moving ahead.They are on perpetual cycle of events. Start off the month with sales statistics and meetings. Followed by tour , then comes the conferences or visit of boss.After 25 th “closing fever” starts. After closing, it is start of next cycle all over again.
You need to find time. You need to sit and analyze what is happening to your life.Your wealth, family etc.

THREE HURDLES STOP US FROM CREATING WEALTH!

Who does not want to be wealthy? But only few can reach levels of financial freedom and truly feel the power of financial wealth. Let us look at what is holding us back from financial success.
These are three personal and emotional hurdles that are standing in our way, blocking our journey towards higher financial success.

1st hurdle -YOUR LACK OF FINANCIAL LITERACY
The first hurdle towards financial success is your lack of financial education. You cannot delegate basic financial education. You have to take change yourself.
To improve your body muscles, you cannot ask someone else to do exercise in your behalf. You need to learn different types of exercises and learn the science and art of muscle building. You need to undergo the exercises and learn by trial and error. At best, you can learn the steps from a trainer or pick up few tips from books. But,you need to sweat it out.
To learn financial literacy, you can learn steps from books like this. But you need to develop the skill through your commitment and experiential learning process. Even if you involve experts, you need to put the final signature.
First step to cross the hurdle- Learn the steps and take charge of your financial life!

2nd hurdle YOUR PSYCHOLOGICAL STATE OF BLAMING FAMILY AND PARENTS
I have seen some people blaming dead parents, family and friends for every failure in adult life.
Blaming for adult problems like poverty, inability to get stable job , alcoholism, sexual infidelity, credit card addiction, personal loan taking , emotional imbalance etc on parents is irrational and takes away the responsibility from your shoulders! I do not want to disregard the negative impact particular background or advantages of a privileged background on the lives of people. People with certain privileged background will have greater exposure to financial information than others. Adults can make whole lot of intelligent choices which can help one to overcome initial disadvantages and move forward. It is too late in life to blame parents, family and friends for all the
current miseries in life.

3rd Hurdle – NEVER DEVOTING TIME TO FINANCIAL PLANNING
An average Pharma sales guy is on perpetual’ busy state’. Very few sit and think. Sometimes I wondered whether most had a table at home to sit and think at all. He rarely reads anything beyond news paper headlines. His knowledge levels are at pathetic levels. If he sells Cardiology products and if he is transferred to Diabetology business he feels insecure. There are sales guys who stick one specialty for one to two decades. Within that specialty he knows 200 Doctors and few promotional stuff and details. By restricting himself from outside world, he is killing himself. As regards to personal finance is concerned , he feels that these are high funda stuff and these can be handled only by CA or least of all Bcom guy. He does not look at simple things like Bank SB interest rates or return on investment made on tax saving instruments. He has not bothered to look at things like nominee for his PF or Insurance. He has not bothered to look at what his wife will get from insurance if he dies today in bike accident. This business is stupidity. All Pharma sales guys have time ,but not the orientation to look at personal finance details.
Every Pharma sales guy must buy a 100 pages spiral book and keep his finance details in it. 1-2 pages for each personal finance item. An example is given below.

LIFE INSURANCE
Company Amount Expiring on Annual premium Date of Annual premium Nominee
It is understandable as you start your career life ,you will have less to write, but after 20 -30 years,  you will have lot to write!
Look at this register at least once a week, ponder over.If you have nothing to write, no problem.Write an imaginary personal finance details in a sheet of paper.Over time, your fantasy and  dreams will come true.Devoting 30-45 minutes for your personal finance , once a week is a great idea.

4th hurdle -BLAMING ON CURRENT INCOME AND CURRENT EMPLOYER
Very often people blame their financial short term inability to earn higher income for their current state. Each person has to realize that there is no state of “satisfied income”. If you earn Rs.5 lac PA, you can be satisfied and with no debt and if you earn Rs 20 lacs PA, you can be dissatisfied and live in serious debt.

Most often, it is not the level of income, but, with what you do with your current income. It has to do with how much you spend and how much you save and where do you choose to invest.

Let us compare the life and financial status of two brothers –Ram and Shyam, both have identical background, spouses and family size. But their income, savings and investments vary.

TYPES OF INVESTMETS CAN MAKE US RICH OR POOR

Through Ram earned 20% lesser income compared to Shyam, at the end of 20years he was 75% richer than Shyam, because he made wiser investment choices.
KEY LESSON

Each person’s life and wealth is determined by the financial choices that we make today.
DON’T NOT BLAME OTHERS FOR THE POOR CHOICES THAT WE MAKE TODAY.

Please focus on improving your financial literacy.
Get a copy of my book titled:

ALL ABOUT MONEY, BECOME MONEY SMART.

Devote the next weekend only to read this book. Switch off your mobile and all other stuff.
If it does not change your life, please let me know.

Best wishes,

This blog is written by Simon Daniel, a double postgraduate in management sciences, Ex CEO and Director of leading Pharma/Healthcare Companies with 30 years + track record.
Under his leadership, around eight Pharma SBU’s were created .He took part in creating more than one dozen top IMS brands. Out of close to 12,000 people who worked in his teams, more than 100 have reached positions like GM/VP/DIRECTOR .
He has established two successful start ups too. In Quora [www.quora.com] , he went on to become World No.1 writer in Personal finance advice and investing advice topics, being called a “personal finance guru”

He is the author of highly acclaimed book titled:

ALL ABOUT MONEY BECOME MONEY SMART!

The book is a comprehensive guide to saving, investing, spending, borrowing and protecting-the
five key financial literacy competencies essential for all people.

Book is sold in all leading online stores in India and globally. It is sold through Author’s website www.simondaniel.in
Also sold in www.amazon.in and www.flipkart.com