Two Indian business giants are innovating during Covid19.

Expansion often means exploring the unexplored. Two of India’s largest companies have done it. Reliance Industries Ltd on Wednesday said it’s going to expand its food-and-grocery play in JioMart to include fashion, consumer electronics, and smartphones by this festive season. Tata Consulting Services (TCS) on July 8 launched Quartz smart solution to offer cryptocurrency trading. […]

Two Indian business giants are innovating during Covid19.

Kakeibo – Broken Down

A Big Hello to all you people out there! I am Venkat again, with so much of gratitude for the overwhelming responses for our last post on the ‘Introduction to Kakeibo’. Thank you all, who have requested for the working models of Kakeibo. Hope we’re delivering to your expectations and much more. Let’s all get to know more about making an effective use of Kakeibo, by asking ourselves a few questions:

  1. How much money do I have?
  2. How much would I want to save?
  3. How much do I spend?
  4. How can I optimise the answers to all the above?

Kakeibo is a confluence of planning, journalising, and keeping a ledger to make us aware of our spending habits. Here is a step-by-step guide to using Kakeibo:

Budget is the Boss: Why the Boss? Because it gives you the directions for the month to follow. At the wake of every month, write down the monthly income and already fixated payments for the month. Subtracting the expenses from income is not only going to give us the surplus for additional expenditure but also the actual pinch of making such expenses.

Bulls-eye on Savings: Savings are an important part of Kakeibo – can you imagine a tax we’re gonna pay ourselves? If yes, then we’re on the same page. Setting a realistic monthly goal for saving and writing down the true purpose of it are encouraged. Akin, saving for a vacation, saving for higher education and others.  Once the goal is set, the savings are to be deducted from the income every month. And never forget to set aside the savings money in reality. Money on paper is still worth nothing if it’s not gonna be Hand(y).

Map your Money: Week after week, every expenditure needs to be written down in the ledger and this has to be done real-time. And here comes the classic section – Kakeibo recommends this to be done with pen and paper, which helps in slowing down, paying attention to the present moment, and thinking about its impact on future spending. It stresses on the importance of physically writing things down — as a thoughtful way to process and observe our spending habits.

Wondering how to get all this into action? No worries, you can subscribe to our electronic version of ‘Kakeibo Notes’ by placing a request from our ‘Contact Page’. Our template not only helps you to keep track of your cash movements, but aids you in your Rally to Reconcile, Realign and Remediate deviations, all in one spreadsheet.

If this idea interests you, don’t forget to like this post. Also, follow our blog to know more about Kakeibo and a lot of other ideas from across the globe.

Content Contribution: Sriram Thirumal

Written by: Venkatasubramaian V.

The Art of Saving Money – Kakeibo

Does saving money mean not spending at all? Can the habit of saving change you as a person? If so, what are the effective ways to save money? What big change can be brought in by doing so?

            To answer these, let me take you through a process which is older than 100 years (116 years – to be precise) and still continues to be one of the best ways to save money being tried, tested and practised for years and years.

This is a Japanese art named “KAKEIBO” – pronounced as “Kah-Keh-boh”, that translates to “Household Financial Ledger”. It was structured in 1904 by the First Female Japanese Journalist “Hani Motoko”, who believed that “Financial stability is crucial for happiness” – just as most of us do.

            It is an old-fashioned but effective method that relies on pen and papers. It demands two books, one for noting down every penny spent and received, which should be carried everywhere we go, and the other one is to consolidate such receipts and payments categorically. This is where we, from ProjectSpace, have crafted an excel template with precision and purpose. Do leave us a note from the contact page, if you’d be interested to subscribe our electronic version of ‘Kakeibo Notes’. Our template not only helps you to keep track of your cash movements, but aids you in your Rally to Reconcile, Realign and Remediate deviations, all in one spreadsheet.

If this idea interests you, don’t forget to like this post. Also, follow our blog to know more about Kakeibo and a lot of other ideas from across the globe, thanks to our upcoming posts.

Sriram Thirumal

Are you Accountable?

This is a question most of us are facing in our everyday life, isn’t it? This is something we often end up asking ourselves, leave alone being asked by others! But hold on, we have a repose… If you are now thinking about our previous post, we are well in connect.. If not, no worries… You can check here to resurface the idea of ‘Endorsement’.!

Yeah, so we can always endorse our source of information or funds as applicable and shift the burden of accountability. However, that’s definitely not the conclusion, because we must also share the responsibility despite our source being the first person accountable. After all, we have propagated the same alongside our source. This is known as recourse – sourcing back the endorser to bear the responsibility for the defaults made by the endorsee.

But let’s not forget, “Every law has an exception”.

If the endorser makes a clear statement that he cannot be held responsible for the defaults of the endorsee, at the time of endorsement, then the recourse stands pointless. Yes, an explicit outcry to reject any future claims of accountability at the time of performance or before performing such endorsement could save us by the name of Sans-Recourse.

Sans-Recourse endorsements are very much in existence wherever the idea of endorsement exists. If a party endorses a negotiable instrument to an endorsee (in the context of business accounting), the endorsing party can never be held responsible for any defaults post endorsement. I don’t think I’d have to explain in the context of branding, advertising or political endorsements, do I.? Almost all of them are claimed to be Sans-Recourse nowadays.!

PS: ProjectSpace endorses my content and this is definitely not Sans-Recourse… I take the primary responsibility nevertheless.! 😀

Venkatasubramanian V.

I Endorse…

‘Endorsement’ is a word we often come across in the modern days, often without a clear understanding on what it refers to… It could mean different things in different contexts, but with the same underlying logic. Let’s first take a look at the relevance of it in business parlance..

Most popular endorsement of the modern business environment is the ‘Brand Endorsement’. Celebrities and popular figures sign as ‘Brand Ambassadors’ of a specific product or company or an initiative to publicize or create awareness among the masses.

Endorsement is also an important idea in handling negotiable instruments. A business signs at the back of a bill that is due from a third party and delivers it to its creditors. The signature is the assurance given for the payer of the bill to discharge the liability on behalf of the company.

Politicians and News Transmitters endorse statements and policies of state administrators or critics to convey their support for the same. In all these scenarios, the endorser is expressing his belief and trust on the ability and sincerity of the endorsee, as and when applicable.

Endorsement is not only a statement of approval and agreement, but also an assurance for the genuineness of the original party or the enterprise. It is also a credit given to the source of the idea or policy. With this write-up, I – as a writer for ProjectSpace and its member, endorse the genuineness and quality of work rendered by this enterprise. Graciously looking forward to your endorsements for our content, as readers… Wishing you all success ahead.!

Venkatasubramanian V.

Being a Contrarian…

“Be fearful when others are greedy, and get greedy when others are fearful”, proclaimed Warren Buffet, one of the greatest pioneers of investment strategies… And that is whom we call a Contrarian – Someone who contradicts the herd behavior.

At all times, there have always been people who differed from the views and ideologies of their fellow brethren. Most often than not, these people have went on to scale great heights than the rest. Standing out from the crowd is definitely not a walk in the garden, but a glide from a hilltop. We hear all sorts of noises about the adversities on course. However, as long as we are excited by the adventure in the journey, a glory awaits us at the valley-side.

Buying (at lower prices) when others are selling (out of fear of loss) and selling (at higher prices) when others are buying (expecting prices to rise in future) is the direct translation of the quote. Moreover, you’ll have an apprentice working for you – Luck favors the Brave, after all..

But it doesn’t end there, mates… You’ll be a tough competitor if you practice when your opponent also practices, You’ll be a champion if you practice also when your opponent is resting. That’s the power of persistence. Hold your stakes long, the more time we invest in something, the more returns it is going to earn for us…

If we’re wise enough to compound our stakes, it doesn’t take huge investments to reap you returns… All it takes is time and some real guts to stand the storm…

Venkatasubramanian V.

Staying Afloat…

Everyone is Unique… Every enterprise has to be Unique.. Especially when it comes to work culture, product / service deliverance and most importantly, crisis management… Who wouldn’t want to be prepared for tough times, afterall! Having a Plan B in place for every sticky possibility is a common sense as per strategy designers.

So how do we ensure sustenance even in the most unexpected crisis situations, that are not even preceded in the past to take references from? Here we are, taking lessons from the fundamental strategy of risk mitigation – diversification.

Passive investments in diverse avenues will ensure our stroll, when running gets difficult. At times when our regular chores of business operations aren’t kicking off, the irregular revenue streams become our oxygen masks. This holds good not only for businesses, but also for individuals..

Wait… This is not only from the financial or professional front, but also from the psychological front. Why are there so many artforms in the firstplace? They get us going at all times, they catalyse our morale and add a sense of admiration even when we are stranded in mid-sea adversities.

Explore, Diversify, Hustle and Stay afloat… The next shore is round the corner!!

Venkatasubramanian V.

Master your Morale.!!

Guess what, mates! A whopping 128 research papers, on average, are submitted everyday across the world, over the last two months. These papers span across multiple verticals such as science, medicine, digital transformation, business management and economy among others. Most importantly, all of these are prepared in the context of the Pandemic: COVID-19.

Barring all the diverse practices we developed over a series of years, a situation has brought us all together in the same plane. One situation is transforming lives, lifestyle and living, some on a positive note and some otherwise.

With social distancing norms implemented across the globe, people from all respects are resorting to social media and online platforms for socializing and community connections. However, this means that people are more and more engaging on public forums but relatively lesser on inter-personal communication. Apparently, this lack of face-to-face conversations with individuals dims down the recognition and respect factors, dampening our morale, sometimes even without we knowing it.

But what goes around, comes around. If we have the right to criticize someone’s mistakes, we also have the responsibility to appreciate every little thing they did right. Hence, it is imperative that we spread out positive vibes in every facet possible. It’s time we extend our official conversations into a little bit of personal chat. It’s high time we start to mix up some lighter moments before we opine on team meetings and other virtual gatherings. It not only brings a smile to the recipients, but also makes us feel light and connected.

We all understand how hectic work might seem with the professional infrastructure around and mixing up household chores in the middle of it doesn’t make life easier as well. But let us be reminded of some courtesy amidst this. Irrespective of how much work we have, it shouldn’t hurt much to offer help to your colleagues and boss. The same is applicable at home as well.. And even if they accept your offer, no worries… What goes around, comes around…

Venkatasubramanian V.

Fighting the Crisis…

At a time when the entire world is going through a Crisis, it is getting more and more difficult for individuals and enterprises to make their ends meet. A paradigm shift, driven by digital transformation, is on the rise and its ripples are felt across sectors and industries and economies.

Every Challenge is an Opportunity in disguise. New horizons are being drawn in terms of digitizing processes, routing cyber traffic, flexible work environments, and of course, blending in with family a bit more than before. On one hand, we face an alarming impact in the lives of daily-wage earners and the hospitality players, while on the other hand are the enterprises powered by pharmaceuticals and social media among others, and freelancers who overlook opportunities like never before.

But for everyone out there, fighting or favoring this situation, we have a few words from ProjectSpace…

Everyone, in some or other way, has to go through the “Struggle for Existence”… Thanks to evolution, “Survival of the Fittest” is assured…

But what makes one the fittest? History, Science and Logic unanimously answer with two words – Adaptability and Innovation. It’s high time we re-frame our perceptions to embrace the New Normal..

Venkatasubramanian V.