Mahendra Singh Dhoni, India’s most successful captain, has recently announced his retirement from international cricket. He is the only captain to win all three major ICC trophies T20 World Cup in 2007, 50-over World Cup in 2011 and ICC Champions Trophy in 2013. From a railway ticket collector to ending the game as one of the greatest player — everyone has something to learn from ‘Captain Cool’. Some of his qualities that helped him succeed on the cricket field can also be applied to the investing world.
Here are the four lessons for investors from Dhoni’s successful career
Patience is virtue:
If you look at Mahendra Singh Dhoni’s 16-year-long cricket career, you will notice how he remained calm during the most crucial moment in a match. He is not touted as India’s best finisher for nothing.
Being patient during times of financial instability is the key. Your investment in small-saving schemes or bank FDs or stock depends on several factors. Whether it’s a job loss or sudden market crash, you have to remain composed while handling your investments. If one stock of yours does not perform well, don’t panic. You will always have the option to switch it considering your financial goals.
Like everyone else, Mahendra Singh Dhoni had ups and downs in his career. The 39-year-old cricket star debuted in the ODIs in 2004-05 with a duck. But he did not let one bad performance affect his career. “Ups and downs are part of a player’s career. What is important is how you came back into form after a lean patch,” the Rachi born cricketer once said.
Similarly, a bad day should not affect your investments. If you consider all the factors before an investments, be confident about achieving your goals.
Have faith in yourself:
If you are an avid cricket fan, you must remember the time when MSD handed the ball to Joginder Sharma during T20 World Cup final in 2007. Remember how Dhoni sent Rohit Sharma to open before 2013 Champions Trophy in England? MSD has always believed himself on the field.
While making investments, if you are convinced about an asset, fund or scheme, go ahead with your belief. It is important to do research before any investment, but you should also have faith in your investment. You can also take help of an advisor and monitor your fund’s performance.
Focus on strengths
Mahendra Singh Dhoni knows his strengths and always sticks to them on the field. “He is a great competitor and keeps his composure better than anyone especially under pressure. He is a very smart player, who is calculating. He knows his strengths and always sticks to them,” Australian cricketer Michael Hussey once said.
Knowing your strength can also help you in the financial market. One should focus on own their budget, goals and investments than blindly following expert views or market trends.
The right coach:
Football was Mahandra Singh Dhoni’s first preference at school. He used to play football for his school team. Keshav Ranjan Banerjee, the cricket coach at the DAV Jawahar Vidya Mandir school in Ranchi introduced ‘footballer’ Dhoni to cricket. Over the years, several coaches have trained Mahendra Singh Dhoni and helped him to achieve all the success.
In personal finance too, a financial adviser can help you find the right investments to reach your goals. Financial advisors offer unbiased advises while investing. So a little guide can help you to go a long way.