Self-investment

Self-Investment

Normally, people think of investing in terms of stocks or bonds, real estate, or some other type of property. But the biggest and most rewarding kind of investment is self-investment, purchasing things which build mental power and proficiency.

The progressive business knows that how strong it will be five years from now depends not on what it does five years in the future but rather on what it does, invests, this year. Profit comes from only one source: investment.

There’s a lesson for every one of us. To profit, to get the extra reward above a “normal” income in the years ahead, we must invest in ourselves. We must invest to achieve our goals.

1. Investment in education. The education is the soundest investment which you can make in yourself. But let’s understand what education really is. Some people measure education by the number of years spent in school or the number of diplomas, degrees and certificates earned. But this quantitative approach to education doesn’t necessarily produce a successful person. Ralph J. Cordiner, Chairman of General Electric, expressed the attitude of top business management toward education this way: “Two of our most outstanding presidents, Mr. Wilson and Mr. Coffin, never had an opportunity to attend college. Although some of our present officers have doctor’s degrees, 12 out of 41 have no college degrees. We are interested in competency, not diplomas.” A diploma or degree may help you get a job but it will not guarantee your progress on the job. “Business is interested in competency, not diplomas.”

To many other people, education means the quantity of information a person has stashed away in his brain. But the soak-up-facts method of education won’t get you where you want to go. More and more we depend on books, files, and machines to warehouse information. If we can only do what a machine can do, we are in a real fix.

Real education, the kind worth investing in, is that which develops and cultivates your mind. How well-educated a person is, is measured by how well his mind is developed-in brief, by how well he thinks.

Anything which improves thinking ability is education. And you can obtain education in many ways. But the most efficient sources of education for most people are nearby colleges and universities. Education is their business.

Many people earn degrees these days in evening programs, but the degree, which in the final analysis is only a piece of paper, is not their primary motivation. There are going to school to build their minds, which is a sure way to invest in a better future.

And make no mistake about this. Education is a real bargain. An investment of only few thousands will keep you in school one night each week for a full year. Compute the cost as a per cent of your gross income and then ask yourself, “Isn’t my future worth this small investment?”

2. Invest in idea starters. Education helps you mold your mind, stretch it, train it to meet new situations and solve problems. Idea starters serve a related purpose. They feed your mind, give you constructive material to think about.

Where are the best sources of idea starters? There are many, but to get a steady supply of high-quality idea material, why not do this: resolve to purchase at least one stimulating book each month and subscribe to two magazines or journals which stress ideas. For only a minor sum and a minimum of time, you can be tuned in to some of the best thinkers available anywhere.

At a luncheon one day I overheard one colleague of mine say, “It costs Rs. 1,000 a year. I can’t afford to take the Readers Digest, India Today, Business World.” His friend, obviously a much more success-minded person, said, “Well, I’ve found that I can’t afford not to take it.”

Again, take your cue from the successful people. INVEST IN YOURSELF.

Invest in yourself. Purchase those things that build mental power and efficiency. Invest in education. Invest in idea starters.

The said article has been written by Iyer Subramanian. He works with Bombay Chamber of Commerce and Industry as Joint Director-HR. He can be contacted through mail: iyerpdkgnm@yahoo.com