New Delhi: It’s not just about academic performance, one needs to balance EQ (emotional quotient) and IQ (intelligence quotient) to be successful in today’s environment, said Yatin Shah, Co-founder & Executive Director, IIFL Wealth & Asset Management.
“It is all about experience, exposure and experiment till the age of 30. All you need to worry about is how do I get to learn, learn and learn,” Shah said Friday at the second edition of the second season of ThePrint’s Democracy Wall.
Democracy Wall is a free-speech campus initiative. The latest edition was held at Amity University in Mumbai. Actor Tisca Chopra, Shiv Sena leader Priyanka Chaturvedi, comedian Srijan Kaushik, rapper Slowcheeta and ThePrint Editor-in-Chief Shekhar Gupta were other participants at the event.
On his life journey
Shah talked about how “it’s never too late and never too early” to become an entrepreneur. He traced his own life’s journey — from a stock merchant to the founder of a wealth management company — to highlight the lessons needed to make a successful career.
“It is very important to start in a small stock, everybody wants to work in a large company but what you get to learn in a small stock you never get to learn in a big company,” he said.
Shah attributed 40 per cent of success to the country one lives in, 20 per cent to the industry one chooses to be in, 20 per cent to the company one works in and 10 per cent to hardwork.
“Hardwork has nothing to do with IQ, it’s attitude. I had a very positive attitude in life,” Shah said.
On current economic slowdown
On the current economic situation and lack of jobs, Shah called himself an eternal optimist. Comparing China and India, he said: “When we look at China, most opportunities are on your face and problems are hidden, and when we look at India, problems are in your face and opportunities are hidden.”
Shah also talked about early investment and said that it’s always the right time to invest.
He said the “power of compounding” has a massive impact and recommended starting as early as possible while making an investment, even of Rs 100. He advised to keep it simple and invest in mutual funds rather than in stocks.
“This discipline and financial literacy can go a long way,” he added.
IIFL co-founder Yatin Shah is among the distinguished founder-investors of ThePrint. Please click here for details on investors.
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