Welcome to a transformative journey into the world of wealth and business, as revealed by Gobinath Chandran in his insightful speech. Far from us conventional wisdom, these discussions peel back layers of common misconceptions, offering 'hidden money-making secrets' and 'shocking truths' about how true prosperity is built. This isn't just about earning more; it's about understanding the deeper mechanics of money, investment, and personal discipline. Get ready to challenge your assumptions and embrace a new perspective on building lasting wealth.

So, let's begin by redefining what we even mean by 'investment'.

Often, when we think of 'investment,' our minds immediately jump to money. However, Gobinath Chandran challenges this 'narrow mindset,' stating that 'those days are over'. For the truly wealthy, money alone isn't the sole form of investment; they don't 'worry about what foxes and sheep are talking about them'. Instead, a broader view of investment is crucial.

What truly counts as your investment?

• Your Network: If you possess a strong network, 'that is your investment'.

• Domain Expertise: If you understand that you have 'more knowledge in that field than others,' then 'that is your investment'.

• Human Capital: The ability to 'bring in people' to execute a task, or even to 'bring in the best expert in this field as an advisor,' is considered an investment.

Many promising business ideas remain unlaunched because people mistakenly believe they lack the initial capital, holding onto ideas that might later be pursued by others, leading to regret. Instead of limiting yourself to 'money alone as an investment,' look at what you have in abundance. It's about leveraging your unique assets rather than just physical cash.

This new understanding of investment sets the stage for how we should approach business ventures, moving beyond mere enthusiasm.

It's tempting to look at every successful business and think, 'I could do that!' or to see a trend and jump right in. However, Gobinath Chandran cautions against this 'old mindset' of turning 'everything you see into a business'. He points out that many coffee shops emerged from this very thinking – 'we go to a coffee shop, it looks nice and simple, let's open one ourselves'.

The harsh reality is that you 'cannot do a job just like that' anymore. Success requires:

• Training: The necessary training for the venture.

• Time Commitment: Dedicating the required time.

• Research and Understanding: Entering a business simply because 'there is a market for it' is risky; that market can 'easily be eliminated' because those who enter merely want to 'capitalise on the market' rather than 'preserve' or 'grow the industry'. If everyone enters an industry just to 'get fruit' from it, 'who would have grown that industry? No one would have grown it'.

Therefore, it's essential to 'do your research, understand something, and then invest in it'. Simply because 'it is widespread' or involves a new 'technology' doesn't mean it's a guaranteed success.

Speaking of technology, it's often misunderstood as a business in itself, rather than a tool.

In today's fast-paced world, there's a strong tendency to chase every new technological advancement. However, Gobinath Chandran makes a crucial distinction: 'Technology is not business; technology incorporation is business'. He highlights that many people are 'rushing after technology' simply because it exists.

A technology only benefits you if it is 'correctly used to accelerate a specific task through technology or to multiply its profit'. For instance, the speaker notes that while AI, AGI, and ASI are emerging, the real intelligence lies in knowing 'what we are going to incorporate these with' – how they will be 'used for our wealth building'.

Furthermore, he points out that 'learning technology is easy now'. Unlike the past where 'learning DOS made you feel like a great intellectual,' today's technology, like AI, can even teach you how to use it. This democratisation means 'using technology now cannot create big possibilities' on its own. The key is 'where and in what it should be used'.

It's also vital 'not to depend too much on technology,' as it's 'another brain'. Over-reliance can stifle your own creative thinking. Technology 'democratises' opportunities, allowing a 'single man [to] build a billion-dollar company,' a trend already seen with magnates acquiring programmes and products from college students. It creates an environment to 'cultivate your imagination or desire without limiting it'. The focus should be on being a 'visionary' and thinking about 'how much opportunity there is to scale up'.

Yet, even with the right tools, true success in business and wealth building demands a foundational quality: patience.

In an era of instant gratification, it's easy to assume that success happens overnight. Gobinath Chandran vehemently counters this perception, reminding us that 'nothing comes easy'. When we see someone rise rapidly, whether in cinema, politics, or other fields, 'we think they came yesterday and won today' because 'we see them at the pinnacle of their success'. However, many successful individuals have a long history of struggle and consistent effort.

He stresses that 'Consistency and patience are much more important'. There's a minimum time required just to know if something works. This applies not only to business but also to life. He criticises the modern impatience, comparing it to relationships where people expect an 'affirmative answer in four days'.

For a business to move to the next level, 'you must have consistency within you and the mindset for it'. It's not about quick wins but about enduring through challenges and continuously working towards your goals. Don't 'worry about the long term goals' but 'do the work properly today' and 'plan tomorrow,' striving to 'develop yourself every other day'.

This deep dive into consistency leads us to a fundamental lesson in wealth: managing what you have, not just chasing more.

Many people believe that 'you can become rich only by earning more'. However, Gobinath Chandran states this isn't entirely true. If earning alone made people rich, 'this generation should have produced countless rich people'. The key difference between successful people and ordinary rich people lies in how they manage their wealth.

There are two types of wealthy individuals:

1. The Accumulator: One who continuously 'works hard and makes their money bigger'.

2. The Saver: Another who earns moderately but 'continuously reduces their expenses'. 'Saving money by reducing expenses is equivalent to working a second job'.

The 'most successful people in the world' are not those who increased their spending as their wealth grew, but rather those who 'became rich by reducing their expenses and saving'. For example, the speaker notes that many teachers' families live simply, avoid unnecessary purchases, and quietly build assets, educating their children and buying properties, because 'they did not increase their expenses as their economy grew'.

The challenge for us is that while we are taught to earn, 'no one has taught us how to manage it'. This often leads people to 'change their lifestyle' immediately upon earning more. This brings us to a crucial distinction that underpins sound financial management: knowing the difference between an investment and an expense.

This is perhaps one of the most fundamental principles of financial wisdom: the ability to discern between what truly adds value and what merely costs you money. Gobinath Chandran emphasizes that 'knowing what is an investment and what is an expense is the primary knowledge' in today's market.

He illustrates this with a powerful example: a wealthy industrialist who drives a two-crore very expensive car. An ordinary person might see this as a symbol of luxury and aspire to buy a similar car. However, the industrialist's car is not an expense; 'it is his investment'. Why? Because he uses it as an office, conducting 'half a day's work' and issuing orders before even reaching his physical office. His 'life and body are very important to him because he is an investment of the company'. He sees the car as a 'vehicle for the next level' of work, not just for luxury.

The same applies to business infrastructure: New startups often spend heavily on lavish interiors and expensive office spaces, thinking it impresses clients. But a knowledgeable investor will look for where the 'core' work is being done, not just the facade. The president of Arun Ice Cream (now i-BAKERY), despite his immense wealth, lived in a small room for a long time and didn't invest in a building, preferring to invest money back into his business where 'two crore rupees investment can yield five crore rupees'.

Another sharp example is clearance sales. We often rush to buy a ₹4,000 shirt for ₹3,000, thinking it's a great deal. But the shopkeeper is selling it at a loss or reduced profit because the stock has been sitting for six months, incurring interest. By buying it, we are 'keeping it safe in your rack for the interest that someone else has to pay'. It's a 'waste to buy unnecessary items'.

What constitutes an investment or expense depends on the individual's context:

• A shoe might be an expense for some, but an investment for a sports person.

• A car might be an expense for many, but an investment for a business owner who needs it for client meetings or productive travel.

The goal is to understand 'what supports your growth'.

This clarity on investment versus expense is crucial before even considering the role of debt in your financial strategy.

Debt is a double-edged sword, and navigating it requires a clear understanding of its purpose. Gobinath Chandran highlights a major contemporary issue: the pervasive influence of 'EMI culture'. Advertisements often quote only the EMI or the Equated Monthly Installment amount, not the full price, making expensive items seem affordable. This tricks the mind into thinking the item's 'price is just 11,000 rupees' when it's much more.

He strongly advises against taking loans for things that have high 'depreciation'. We often borrow for phones, gaming consoles, or other consumer goods, and then 'finally, we take a loan to repay these loans'. This practice of juggling debt between credit cards is mistakenly seen as 'financial management,' but it's merely a 'trick' and a 'thrill'.

When is borrowing acceptable?

• Taking loans for 'building a house' or 'buying land' – assets that appreciate.

• When you can clearly use the borrowed money to generate significantly more, for example, borrowing ₹10,000 to 'create ₹12,000'.

• 'Don't hesitate to buy when needed'.

However, do not borrow 'just because it is available'. Today, getting a loan is 'very easy,' with lenders readily offering money because they understand 'how to make money with money'. The ideal is for 'your money to make money, not you'. If your money isn't working for you even while you sleep, your financial management isn't right.

A critical aspect of avoiding unnecessary debt is understanding the difference between genuine needs and fleeting desires.

The market constantly bombards us with temptations, often blurring the lines between what we truly need and what we merely desire. Gobinath Chandran stresses that understanding the distinction between 'desire and necessity' is vital.

The market 'influences us to believe that carrying a gadget is a matter of prestige'. This pressure to 'show off' leads us to believe that 'the world values us based on the things we own'. While there might be some truth to this, continuously chasing such external validation eventually leads to a situation where 'if you run out of money to buy all these things, no one will respect you'.

He advises against purchasing items 'just because it is available'. Instead, true financial discipline comes when you can enter a mall, 'buy only what you need, and leave without worrying about anything else'. Warren Buffett's wisdom is reiterated: 'If you keep buying unnecessary things, you won't have money to buy necessary things'. Our minds are often fixated on buying more, leading us to acquire non-essential items while postponing genuine needs.

This self-awareness about needs versus wants is closely tied to resisting external market influences.

In a world driven by trends and social media, the pressure to conform and 'show off' can be immense, especially for young people. Gobinath Chandran brings back the 'lion's story' from earlier: 'a lion never worries about what the fox and the sheep are talking about him'. Similarly, 'rich people never care about such things'. They focus on 'their preferred journey towards success'.

The desire to 'show off' stems from a belief that 'this world values me based on the things I possess'. This leads to a continuous pursuit of external validation, where we 'keep moving towards that value'. However, the harsh reality is that if you spend all your money on these things, 'no one will respect you'.

Instead, the speaker suggests that if you are willing to 'compromise on small things,' then 'big things will easily come and go before your eyes'. This requires understanding 'what is big and what is small'. When you have the 'hope that tomorrow's life will be good,' you won't find it difficult to give up these things.

Successful individuals are not easily influenced by the market. They 'do not want to accumulate all the products shown in the market'. They are immune to 'sweet words' and 'do not try to impress others'. Their focus remains squarely on their goals. They also avoid investing in 'whatever is trending' unless they have done their 'research' and genuinely understand its viability. This independent thinking is crucial for long-term wealth building.

Finally, while we plan for the future, the ultimate success lies in mastering the present.

While it's natural to have 'long-term goals,' Gobinath Chandran advises against getting 'stuck about the long term thing'. Over-focusing on the distant future can lead to losing 'other opportunities' that arise in the present.

Instead, the emphasis should be on daily, consistent effort and continuous personal development:

• 'Do the work properly today'.

• 'Plan tomorrow'.

• 'Develop yourself every other day'.

By doing so, 'automatically you will reach your long term' goals. The dream itself 'will not take you there'; it's 'this day that is going to take' you. Every day is a 'new day,' and by thinking this way, you will 'automatically reach your height or your target'.

It's about breaking down large aspirations into manageable daily actions, fostering continuous improvement, and trusting that the consistent small steps will lead to the desired grand outcome.

This disciplined approach to the present moment, coupled with the insights we've explored, paves the way for true financial freedom and lasting prosperity.

Gobinath Chandran's insights offer a profound shift from conventional thinking about money and success. His core message is clear: wealth building is not merely about earning more; it is about intelligent management, strategic decision-making, and profound self-awareness.

By focusing on daily actions, continuously developing ourselves, and applying these foundational principles, we can move beyond simply earning to truly building wealth and living a life of economic discipline and genuine prosperity. The path to becoming a 'super rich' individual lies in this profound shift in understanding and approach.