Be optimistic and think futuristic

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Published: Thu 28 Jul 2022, 10:54 AM

A few days ago, I read an interesting piece of news which talked about making a fortune in the share market. It was reported that the stock of a particular company had been trading at a cheap price in the market for almost a decade. Investors would call the share nothing but a dud and the company’s performance was also dull. But post-Covid-19, the shares jumped up and those who had invested in it a decade ago and held it patiently, became millionaires suddenly. I think this is not a miracle, but rather the power of patience, or more specifically, the power of long-term thinking.

By Dr Dhananjay (Jay) Datar

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Long-term thinking is a healthy habit, especially for young entrepreneurs. I say ‘young’ because the youth always has a long life ahead of them to fulfil their dreams. The habit of thinking big and of the future, if imbibed during the early years, surely yields fruits later. I remember when our business suffered heavy loss in the very first year, my first suggestion to my father was to close the shop and return to India. But my father, unlike me, was a patient thinker. He wisely told me: “Son, you are not mature enough. This is a business cycle. For us, it has come down at the start, but it will surely go upward. So, be optimistic and think futuristic.” Later, after three years of hard work, we were able to bring our business back to profit. I never forgot my father’s advice and have since then, always cherished the habit of futuristic and long term-thinking.

I have also heard an inspiring story from my father of how futuristic thinking can fetch a fortune for ordinary people. One of his friends invested his hard-earned savings to purchase a plot of barren land near his village. After purchasing it for a cheap price, he fenced it, dug a tubewell, and planted many teakwood saplings in it. The villagers mocked him for the decision, but he would just smile. He would visit his land regularly. After 20 years, the saplings grew into big trees. Teak is one of the most expensive woods and matured teakwood gets a very attractive price in the furniture market. He cut down the trees and sold the entire stock to the traders. The story doesn’t stop here. In 20 years, the value of his land soared as a newly-built highway passed adjacent to his land. He became a millionaire in just 20 years through the power of long term thinking.

When a small hotelier in Dubai taught me the benefit of everyday savings from income and how to pool it to expand business, it ignited a spark in my mind and I began thinking long-term. Banking on that power, I weaved a chain of 50 super stores across the GCC region and transformed my small business into an international group. So, the lesson is to think long-term fortune rather than short-term profit.

Dr Dhananjay (Jay) Datar is the chairman and managing director of Al Adil Trading.

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