One of India's most popular and adored shows is Scam 1992: The Harshad Mehta Story. When it first premiered last year, the programme, which follows stockbroker Harshad Mehta's rise and ultimate fall, became the buzz of Hollywood. People adored the show, and it quickly rose to the top of the Indian television ratings. Harshad Mehta's narrative is rich with lessons that we should all be aware of. We must learn these true and crucial lessons. After all, books aren't the only place to go for information. You can learn essential lessons in a variety of places.
Because Harsha Mehta commanded the stock market, the majority of the lessons we can learn from his biography are about money and success. Harshad rose from humble origins to become one of India's wealthiest men in the 1990s. However, via unholy methods. That is the snag. Harshad isn't a hero, and neither is his narrative. At best, this is a cautionary tale. Let's look at some key business lessons learned from the 1992 fraud.
1. Take Reasonable Risks
Harshad Mehta's ability to calculate things ahead of time helped him get to the top. Many people are praising Harshad's success without recognising that he made a calculated risk. This is an excellent lesson for young entrepreneurs who may become enamoured with early success and lose sight of the big picture.
2. Recognize your strengths At
Harshad Mehta was well aware of his ability to strike up talks and gain people's trust. That's how he got so many people to invest in equities. That takes a lot of determination and wit. Many entrepreneurs today overlook to consider their expertise and abilities while developing business concepts. They pay attention to the market but overlook their own strengths and learnings.
3. Have faith in your company.
Confidence is a key, or rather one of the keys, to success. To develop a successful company, however, one must have confidence in not only their business idea and plan, but also in themselves and their team. Nobody likes a leader who is unsure of himself and doesn't know what to do next, or who does know what to do next but doesn't know how to get there. A leader must be confident in their abilities. That is the only way they will acquire the trust of the entire team.
4. Always work within the confines of the law
Harshad Mehta's demise was precipitated by the law. He toyed with it and severely burned his hands. It's no secret that Harshad Mehta manipulated the law and worked his way to the top. This is quite serious. Nobody, no matter how wealthy or successful, should break the law and abuse others for personal benefit. Remember that no one is above the law. It will eventually catch up.
5. Accept Responsibility For Your Mistakes
Harshad Mehta might have easily avoided the entire Ince Tax Investigation if he had accepted full responsibility for all of his faults. Harshad's pride and overconfidence, on the other hand, reassured him that everything would be OK. That's why it's critical to recognise where you went wrong and accept responsibility right away. Nobody loves a leader who avoids responsibility and lives in his or her own little world.
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lessons from scam 1992, harshad mehta strategy, scam 1992
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