Hello everyone and welcome to today's Business Skills webcast, Refresh Your Business. Today is all about uncovering the top 10 secrets for business success, sorry. So whether or not it's your own career that you're interested in or the actual business that you're running, you're all going to get a lot out of today. My name is Sarah Gonzalez and I'm from Redback Conferencing and we're joined by Katrina Frill once again. How are you? Good. Good to see you again. It has been a while and I know. Last time we spoke about this whole concept of people just needing to refresh whether it's in life in general or business or career. So today we're going to cover all of that. So I'm excited. I hope everyone else is excited. But before we get started, let's really get down to I think the main point that a lot of people probably thought about when they registered and that is why do you think people actually struggle in business? Well, I developed these 10 secrets over the last 17 years because I noticed that pretty much most people that I worked with as a coach or a business mentor would struggle in some way. So I wanted to unpack why people struggle and it really comes originally from my father's story and my father was in business or my life as a child and back in the day it was the Paul Keating time and Paul Keating said it's the recession we had to have or prior to the recession we had to have, we lost everything. My dad's business, our home, our cars and we packed up the four girls and started renting. And so as a young child I was just doing my HSC at the time and I remember thinking, oh, this is not good. This is not good. And my father had been in business for 25 years. So I wondered even at that early stage in my life about well, why do people struggle? Why is business so hard? And so let's look at 10 secrets today and see what you can make of it. Now some of these you're going to have as a high strength and some of these you're going to have as a low score and they're the things that you want to work on. So some of these things you'll be really good at. Okay, so as we go through these 10 steps, it's really about everyone really thinking about how this step relates to them, maybe scoring themselves on how they relate to it. Out of 10. Out of 10 would be great. So the first step, a secret is to have a look at where you sit on the extrovert side of the fence or on the introverted side of the fence. So these two, the extrovert and the introvert, what we've realised is most people are made up of both. Some people are extreme extroverts most of the time and some people are extreme introverts most of the time. But other people are introverted when appropriate and can step into extroverted activities and vice versa. Some people are extrovert and can step into introverted activities and to be successful in your career and in business, you've really got to have as much breadth of behaviour there as possible because if you are introverted side of the fence, little bit naturally, then what happens is you can't speak up and speak out about yourself and about your business and you can't do all those extroverted activities that are going to help you have success.  Yeah, so I think a lot of people, you know, they resonate with one or the other. They either define themselves as an introvert or an extrovert. What are some tips that you could give people to maybe, you know, increase their introvert? Their breadth of behaviour, as I like to say. Yeah, because how do we even define what we are? Is it just being quiet that defines us as an introvert? Look, introverts... Most introverts have studied it, so I find that most introverts are expert on how of an introvert they actually are. And what happens is introverts can be drained by having people around them, whereas extroverts gain a lot of energy from people around them. So that's typically the way to define yourself. If you are in a big office and you've got lots of people around you, then extroverts will be really happy and will be gaining a lot of energy from that. Whereas introverts, by about Friday, will feel a little bit exhausted and need some time out. So that's all that is meant by extrovert-introvert. It's just that sort of, you know, if we define it that way. But I really don't buy into this we are one or the other. I was born an introvert, but at the moment I'm doing an extroverted activity. I've written four books, but I can also speak on stage in front of people. So can you see how those activities help me?  No one will ever know about your book. And so it's about just looking at which one you are or which is your tendency and starting to stretch your comfort zone and what you are willing and not willing to do. And have a little think about where you sit on the spectrum because it is many shades of grey. And if you want to be successful in business, you've really got to be able to learn how to behave in an extroverted fashion when appropriate and also vice versa. So that's all I'm going to say on this because I could actually talk about this concept for a very long time, but I won't say that we are limited with time. The second one to think about is people in business, the second secret is your approach. So working out, do you have a tendency to be more of a rationalist or have you got a tendency to be a more of a humanist? And in business, what we're looking for to be a success is a lovely blend of both. Whereas if you can only do humanists, you tend to go out of business pretty fast because it's all about the people.  Whereas rationalists, if you can only do rationalists, what that means is you're just all about the bottom line, bottom line, bottom line. You often forget about the people so everyone leaves and you have high turnover and that costs your fortune. So can I just, because on this and you speak to a lot of people in business and a lot of the conversation is about playing to your strengths when you are in business. In this example, you may be a humanist and some people have said, I'll just hire someone to do the rationalist side of things. Does that work or is it about you yourself having to develop yourself so you can possibly be on both sides? I believe so because even if you've hired, let's say your accountant is a rationalist, but your HR manager is a humanist, that would be stereotypically the higher the way it goes. I disagree. I think the HR manager who is a natural humanist because look at the profession they have chosen to be in, that's all well and good, but can she make rational or can he or she make rational decisions? Can they take into consideration when they're making decisions or strategically thinking about things? Can they look at it on the rationalist side and that will make them a whole business person, not just a one-trick pony. So even if you're an accountant and you're doing all the rationalist activities, they too need to understand that if they cut that or reduce that or reduce the funding in some way, they need to understand the humanist aspect of that and how that will affect the people. And so both parties need to be able to do both and you need to develop both skills. You cannot be one or the other if you want to be successful. Yeah, and I think this sort of does play into there's so much information and we've even had people in the business skills series before talk about leadership and evolving into leadership roles. Does this play into that when people talk about having empathy and people skills in order to sort of take that next step in their career and move into those executive level positions? Definitely, if you've got, sometimes you get a corporation that is a rationalist culture and sometimes you get companies that are humanist culture. And so what they've done is they've hired, let's say a CEO or whoever's the head of that thing, they've hired a certain type, let's say a rationalist is hired as a CEO. Naturally that's going to filter down. So naturally if that CEO goes into an executive coaching scenario we're going to be wanting to develop their empathy and their people skills and their humanistic aspects. And vice versa if we get a CEO and a culture that's humanist we tend to executive coach around that around getting them to understand systems thinking, strategic thinking, the rationalist decision making processes and stuff like that. So it's always balancing yourself up and giving you breadth of behaviour again. Great. Step three. This is an easy one to judge. So a rating out of ten for this would be great if you, how flexible you are. So working out, look people who are more flexible tend to be more successful in business. This is what this is saying.  So you've got to be quite agile and very flexible to find out what it is you want to offer the world with your product or service. The thing that I coach in a lot is that some people are too flexible and what that means is they're not able to set down processes outside on a system and they can be too flexible. So you want a nice decent rating here. You want to be about a seven or an eight but you don't want to be nine and a half all the time. Does that make sense? Yeah. So being flexible is a good thing and sometimes I'm coaching people who are just inflexible. So if they're inflexible they don't like change. They'll fight it all the way and we all have worked with people like that and they're just stuck in their ways. They're not open to new ideas. So really we don't want to be below five but I don't want you to be too flexible either. Sometimes I want you to stick to your guns and decide that that is the right decision and that's that. So what are the risks then? So we're sitting on the other side of the screen right now. We're rating ourselves. Yes. And we're about an eight, nine or ten for flexibility. What are the risks that we're then exposed to as an individual in our careers or either in business? If we're too flexible. Yeah. What it means is you'll be perceived. Your personal brand will be seen to be a flippity-floppity. Okay. And that's a typical term. I feel like there's a hand action that needs to... A flippity-jibbit is probably a better word. Yeah. Just too floppy. Like floppy. So if you're an eight, I think that's a good score but if you're a nine and a half that you probably want to tighten up a couple of your screws and become a little bit more rigid so that you can stand your ground and not be perceived as floppy and being able to flip and flop. We often accuse politicians. A lot of what's going on at the moment actually is because politicians are often seen to flip and flop. People don't like that. Same in companies. They don't want a CEO to flip and then flop on a decision. Just stand by your decision. Yes, you're flexible. Yes, you're open. But you're also able to make things stick as well. And that's important in business success. Definitely. Yeah. Just as important, I think. I love this one. Yes. Creativity. Often people that are highly flexible naturally will get a high creativity score as well. And in business these days, creativity is a highly coveted skill. We need you to be very good in your creative thinking because if you're going to be flexible, you're going to need to know, well, if that decision's not right, which one is? And that's creative thinking. Creative thinking is being able to come up with another option a new way. If that's wrong, what's our next move? And creative people always have another answer to each and everything. So to be successful in business, not only to be flexible, but to be creative is important. So give yourself a rating out of 10 for how creative you think you are. Now, creativity is interesting. Well, that's what I was going to say because you could think of it depending on how you answered question one. Yes. Could really work. It should match. It should kind of match. Because do people just assume, you know, creativity if I'm an artist or I'm in marketing or advertising that I'm more creative, but can someone who's maybe more in finance, is it more about the thinking as opposed to the designing? Good point, Sarah. I think what most people think of as creative is the arts. And I love to speak on creativity because I think people have a misnomer about it.  And I absolutely disagree. I think creativity is in pretty much everything. If you're a parent, you need to be pretty creative because things are changing day to day, week to week with your children. And you can't, what strategy worked yesterday won't necessarily work today. So parenting is creative. Gardening is creative. Cooking is creative. And what I love about business is business is creative. Even if you are in accounting, for example, which people don't see as a creative role or a creative industry, rubbish. It's really creative. You're coming up with process re-engineering, improving processes all the time, new systems, software, training people. It's all creative. So I argue that everyone is creative. It's just whether you were branded that or not as a kid. And I'd like to shift everyone from saying that they're not creative to say, I am creative just in my own way. And whatever that is, what I'm doing today is very creative. My mind doesn't know what's coming. My mind has to think creatively when you're speaking for a living. And so to me, everything's creative, everything. Good point. Yeah, so give yourself a rating out of 10 for how creative you are. Do you want to go on to the next one? Yeah. I think, see, I personally think with this one, if you're in business or if you're working within a business, surely planning has to be an important element. Or am I just thinking way too basic? No, you're not probably thinking way too basic. But what it is, is can I ask you, are you quite a good planner? Is that one of your strengths? Organization, yeah. So that's how I consider planning. So what's happening for you here is, because it's one of your natural strengths, it comes quite easy to use. So you're thinking it's a bit obvious, but actually people that don't have it as a high skill really struggle with it, which means they will struggle in business. Yeah. Because business is all about, the more prepared we are, the more organised we are, the more we can fend off surprises. Whereas when surprises or fires start, because we've done so much planning, we have the headspace to work on these, putting out whatever fire has occurred. Whereas if you're not very well planned, you're not very organised, and you have a fire go off, can you see you're going to be in massive trouble. So being a good planner is something we always want to work on. It's an ongoing journey for the rest of our professional lives, just to improve our organisational and planning abilities. And if it's your natural strength, well, good on you, but it's not for everyone. Some people really struggle with it, particularly creative and flexible people. Because creativity, they almost fight against planning, and they think, oh gosh, planning is not creative. And yet really when you look at it, if you plan really well, you have more time for creativity, because creativity requires headspace. So the more planned you are, the more space you have for creative pursuits and improvements. It's very interesting because traditionally you don't associate those two things with each other. Like you said, if I'm a creative person, I was like, oh, we'll leave the plan in to the uncreated person sometimes. But yeah, I think it's like you said, I feel like with everything that we've gone through so far, it's important obviously to rate yourself in those areas. But just as we're coming up to the halfway mark, we might have been done, I'm losing count. Sorry, we're two by number. Just as we're going through that, what if we're getting to this stage now and we find ourselves all fives, for example, or maybe we're being too harsh or we're not, what can we do? So the way I like to do it is people put down a rating that's current and they just say, and remember the rating is just for you. So no one else has to look at this. So be really real with yourself. Don't, you know, you don't want to lie to yourself at this point. So if you are a five in planning, put a five but the number next to it, I'd like you to put down what you think your potential rating could be. And so let's say you put down a five and you feel that you could be a seven in planning or an eight in planning or you'd like to be a nine.  So it's almost our subconscious. Yeah, it goes and fills the gap. So you'll notice a blog on planning. You'll notice a book at a garage sale called Business Planning that you wouldn't have noticed before.  So that's why we're doing the gap analysis today. So go back on the first few that we've done and go and put down what did you get for your current rating for flexibility, creativity, planning and the others and what would you like those numbers to be? And again, it doesn't matter whether you're being hard on yourself.  Some people just are really hard on themselves and other people are quite easy on themselves. It doesn't matter as long as there's a gap. So if it's an eight to a nine, the brain will still try and fill that gap even if it's only a one point. So if planning is a really good one and it is an ongoing journey, you never arrive at perfection with any of these things. Yeah, if you're giving yourself a 10 for everything, then it could be alarming.  It doesn't exist. It's a manmade ego thing that we call things perfect. Yeah, it's a misnomer. There's no such thing as perfection and these things are all ongoing and you develop yourself and you just want to be getting better at them year in, year out. That's all. Where are we up to? Initiative. Beautiful picture here and I love this because initiative to me represents our fire in our belly, our get up and go, our make it happen energy. So give yourself a rating out of 10 for how much initiative you have access to and what would you like it to be? Now people that are very, very successful and actually don't just talk about starting a business, they actually go and do it. They're not just gunners. You know those people that talk and talk and talk about they're gonna write a book, they're gonna start a business, they've got this idea and then they never do it. It's because of a lack of initiative. Their initiative is low whereas with the entrepreneurial spirit initiative is generally very high and you can't stop these people. They're fire in their belly, their make it happen is high and we love these people in business too when they're employees because they make things happen. Well that's what I was going to just talk about. So what's your thoughts really on the whole concept of entrepreneurship within organisations? So a lot of people out here they might be like oh do you know what I'm not really going to look to start my own business but how do then I do that inside a business and how do I constantly show initiative and get that fire in my belly in order to progress my career. What are your thoughts all around that? Well my thoughts are I train primarily my corporate training business is all about entrepreneurship and as you know my title and linked in is a success coach for entrepreneurs as much as I love working with entrepreneurs to me there is this entrepreneurial spirit but inside organisations that's what that word means entrepreneur is an entrepreneurial spirit alive and well inside an organisation inside a person. Now ask yourself are you that entrepreneurial spirit inside a JOB a job and if you are then it's very likely that part of your skill set is a lot of initiative which means you're coming up with ideas you've got thoughts and opinions on things you're on committees to make change you're not just part of the winch culture so I find if you're not an entrepreneur or an entrepreneur you're part of the winch culture which means it's like I don't want to help the situation I don't want to be involved in supporting anyone that's out there trying to help the organisation I just want to winch about it whereas entrepreneurs and entrepreneurs they go no no no let's make a change and they're part of helping the change happen not just part of bitching about it in the kitchen so that's my take my take on the two types of energies the entrepreneurs have heaps of initiatives and they'll go and talk to the right people they'll look at what can they control about the problem or what can they influence about the problem so yeah that's a good point because you don't just need to come up with the idea as long as you've got some initiative to go and source the right people to come up with those ideas then you might rate yourself higher because I think a lot of people really associate this with creativity and going to start a business but I like the idea that you can just be the change maker you're the change maker you're the change agent you don't fear change like every other human being you're quite able to not only identify a problem but you're able to come up with a solution and that's what managers want to hear they just don't want to hear what the problem is they're probably well aware of the problem it's just that you know you're on the front line we want to hear from you because you will more than likely more than likely have the solution because you're front line and if you've got initiative you tend to not stay quiet and you tend not to be satisfied just whinging about it privately to people that just can't change the situation you go and talk to the people that could influence the situation yeah I just hate whinge because I just think it's a waste of time yeah it's a big thing of vine and that's why initiative is a big thing let's move on before you get too agitated I do get agitated stuff to whinge in independence the most successful people in business tend to be very independent type thinkers so ask yourself are you quite independent in your thinking that means that you have an opinion you tend to be able to go inside of yourself and say yep that's what I think whereas some people go around asking everyone their opinions so if I go to my let's say if I go to my mom who's been in business and ask her a business question is that the right person to be asking and then they say oh no don't go into business oh no don't do that oh no that sounds risky she's coming from a place of not knowing so what happens with interdependent type thinkers is they go around asking not only lots of people their opinions but also the wrong people and their opinions they end up with too many opinions and then what happens is they've got confused whereas independent thinkers do collaborate and are team players and they do go around going what's your thoughts perhaps but sometimes they just know their own thoughts and that's what they're gonna do so they may check their thinking with others but quite often they're very strong in their views now these people do have some personal development to do in their lifetime and that is that they do need to understand that collaboration is important and teamwork is important and asking other people their opinions is important however what they are good at is knowing what their opinion is and quite often disregarding everybody else's opinion so it's really a feedback to use it whereas their job is to just yes it's great that they know their thoughts that they know the next step that's fantastic but it's lovely just to check in and people as you know in teams we're now in a world where collaboration is essential staff want to be involved they really do whereas in the olden days back in my early career it wasn't a very collaborative culture whereas now we really value that most organisations do so independent thinkers are highly valued because they're very decisive and don't flip and flop whereas if you're very collaborative well done fantastic but your job is now to build up your confidence to be able to decide on something and stick with it and if you are an interdependent thinker then that will be your challenge you'll think asking 20 people feels safe and it's not safe you get confused maybe they just feel there's less risk involved have they made a decision as long as somebody is making some decisions because business needs to move on we can't just be collaborative and try to make one decision and it's taking us a year can you see so I often have to not only coach executives on the one side but I'm also coaching executives on the other side of this fence and where do you sit what's your current rating how independent are you because you'll be more successful because you'll be decisive and able to make decisions and making sure that that's a skill set you have because it'll be a good skill to have so we'll move on to the next one now so this is purpose purpose is interesting I feel like a lot of people may have a lot of influence because I think you might enlighten us a bit thank you purpose what I want you to do here is I'm going to explain the two sides of the fence one is there's a whole bunch of people looking in their careers and in their business and they're doing what they're doing because they want balance they want work, life, balance and on the other side of the fence are all these people that are in business because they're wanting the challenge of it now if you look at those two things which one do you think naturally would be better in business and more successful because challenge doesn't scare them they're looking for the challenge they love the stimulation of the challenge they love going to the next level they love the fight of creating a business from nothing or improving their job and those people do really well in business and with people searching for this elusive stupid work life balance that's different for absolutely every individual there is no blanket work life balance what is balance for me and what is balance for you just our ages will make our needs different let alone whether we have kids or not will make a difference and where we're at our status in life is what will make a difference so this work life balance it's what's balance for you and you'll know whether you're reasonably balanced is depending on your mental health and quite often your physical health and your emotional health if those things are all in good nick then you're kind of balanced for what you need so anyway back to the challenge people these people go for it they stretch themselves they get out of their comfort zone they love change they struggle in business because they're driving their careers and they're driving their business forward whereas work life balance people just want status quo hunky dory don't want to get too stressed and they don't even know the difference between good stress and bad stress whereas challenge people understand good stress good stress pushes them forward and makes more whereas work life balance if that's your purpose and that's the purpose of your purpose of having your business then you'll find you're just looking for status quo you're not putting in as much challenges you would like so I don't want to upset the audience because they'll go I want work life balance and challenge me too you can you've just got to find out what that tipping point is for you now I understand this more than you imagine and that is before I was 25 I had two burnouts before I was even 25 I had to sort this tipping point out because whatever I was doing was not right for my body to keep me in good physical health as well as emotional health and mental health so I was able to work that out very early in life so if you find that you need a coach that understands this tipping point I'm your gal because I've been there and I understand it and I learnt it quite early on in my career otherwise I'd be dead by now it's actually very important now and I think there's a lot of organisations who are talking about this more and when it comes to the wellness and the mental health within organisations I think 10 years ago if we were having this discussion it would have been a lot different in terms of how this ranked it would be like oh just something we toss away to the side it's not that important but I'm glad that it's coming up and I think it's something that we all should be rating ourselves on and getting it right for us because some people are gentle little souls and do need a really beautiful work life balance and challenge even the smallest bit of challenge may break them do you know what I mean and so that's not for them which means you don't recommend things like go for the big promotion why don't you start a business I mean this is just not for them these people should really try and find tranquility and peace in their life and they're the people that are great to have in JOBs because quite frankly they stay a long time they become masters of their game they're not looking for the next big promotion they're happy with the status quo and I love people like that working for me or around me and organisations love them because they stay whereas these big challenge people they're often difficult to manage they want to get the next big job and they want the next big promotion and they want the next new thing so again they're very hard to manage definitely rate yourself honestly on that one I think now as we move on now we move I think we oh yeah we've got this one emphasis emphasis is interesting probably not what you're thinking but emphasis is really understanding what type of person you are and I had to learn this the hard way emphasis is knowing whether you are a technical genius person and you want your emphasis in your career and business to be on technical brilliance or whether you're going to go for general management and what I found was that for me generally managing things and not doing my technical genius was very disappointing to me whereas for others they're happy to leave their technical genius behind they move into management and they start teaching and managing others to be the best they can be in a team whereas I had to learn that that's really not where my joy sits my joy sits in doing my technical thing and so now that I've learnt that I know how to make myself happy and that is to stay in my technical genius which is teaching so educating and just doing it whereas I don't want to teach others necessarily teach others how to do it and manage them I just want to keep on doing so what I find with a lot of people technical geniuses are the ones that are promoted and they're promoted outside their technical genius because everyone thinks geez they're good at it let's promote them to team leader team manager or general manager whatever and they end up wondering why they're really unhappy it's because they didn't have this self-awareness that general management really wasn't for them and that they really miss doing their technical genius so again we don't need to spend too much time on it today but it's just an interesting thought to remember that you've got to know what's going to make you happy you've got to know what will make success for you and once I worked out that general management isn't for me it's doing the technical thing I now no longer need to worry whereas for others they're in these general management roles and wondering why they're miserable well yeah there's this assumption isn't there that you know if you've got to go up something you need to go up but sometimes it's okay just to keep doing and if you're a doer then enjoy it engineers, accountants, lawyers sometimes these guys are so technically brilliant that you just need to pay them more you know just the more value they give the more mastery over their industry then pay them more but don't necessarily promote them just double check and it's up to us to manage our own careers naturally and if general management isn't for you and that emphasis is not going to give you more joy then don't do it and I'm happy to have that conversation with people if they're a bit confused and wondering why they're not as happy so we're moving on to the last one now and sounds quite apt yeah it's nice to end on this again this is an obvious one how much determination do you have so this ties back into initiative quite often high initiative people are very highly determined and also to independent thinkers are often quite determined in fact a little bit too different sometimes they can be really determined to change your mind on an issue and that's fine if their influencing skill is amazing and you just can't but not agree with them then fantastic they have effectively influenced you but anyway have a think about where you sit how determined are you for success if you're not and there's a low score then naturally you're not a driver you're not interested in that challenge you don't have that get up and go make it happen so your determination for success is quite low so this is a real bloody obvious one however some people are very high with determination and so that skill of determination needs to be put to good use otherwise it tends to go in the wrong direction so if you apply determination correctly to your career and business you tend to do very very well because you can stick with it through all the hurdles and you can drag yourself up to where you want to go and that's a fabulous skill somebody that has a lot of resilience and they'll make it no matter what and all those silly Facebook memes that go around are quite often around this whole point isn't it is keep on going keep on going stick with it you'll make it in the end well in fact determine people do make it in the end there's no doubt about it and you want to have a bit of this naturally in your body in life in general though wouldn't you as well yeah so I doubt that there's many people out there that would be very very low in that because especially the people on today's webcast because they're actually on here they're wanting to they're determined to learn more and be better in what they're doing they're activated lifelong learners that's why they are here and they are determined to get to their next learning experience whereas a lot of people might have registered for example and they weren't that determined so they didn't make it and they might say oh I'll listen to it later great that's terrific let's see how determined they are to listen to it later it comes down to the minutiae in life and you know how do you eat an elephant one mouthful at a time how do you become successful one step at a time and so hopefully today these 10 secrets add to your thinking a little it's great that we've got all of them now we've spoken about them but they all sort of intertwine with each other which is what I'm starting to get as well so I'm going to do this afterwards and rate myself if anyone has any questions please type them through so you're going to do the quiz I am but not right now no not right now because it's a big quiz yeah it is what is the next step then what is this free quiz so how can we go and we can check check in with ourselves on all these 10 steps you've just given yourself a rating out of 10 intuitively you know just off the cuff how you felt the quiz will do is actually give you a real rating and what's great about it is I love when people were spot on their intuition and their self-awareness their score matches the real quiz but other people who are more exacting will love the quiz because they like the exact score their rating out of 10 for each of those 10 things so it doesn't matter who you are whether you're an exacting type and love a bit of a number or you just want to do it for fun and see how intuitively correct you were either way just email me just email me and I'll send you the quiz yes excellent so just kind of find your email address right here so it's Katrina at Katrina.com.au yeah funny spelling that e it gets me every time we don't have any questions that are coming through at the moment but thank you so much it's been amazing anything else that you'd like to leave people with you know what's your one tip for business success moving forward and how can people get in touch with you if they want to learn more or they find they're quite low in some areas that's the whole point of the free coaching session so what I love to offer when I have these opportunities to speak to a large group of people is I offer a free business coaching session so you can just email me for the quiz and email me saying I'd like a free coaching session thanks and I'll get in touch with you we'll check our diaries and we will get together a suitable time if you're very very far away from Sydney then we'll do it online on Skype or phone Skype only if I can be bothered putting make up on that day or mobile if I can't and then so we can do it either or you will get your value regardless but what I'd love you to do is use those that opportunity to talk about the things that you're most challenged in so we can talk about that of any of the 10 things or you might have some other thing that you'd like to talk to a business mentor about or an executive coach about let's see how we go and that's the whole point of the free coaching session is you get to touch base with a different person with a different perspective yes exactly we've also got just some feedback great presentation this has really helped thank you so much so really really great to see that people are getting something out of this and I think it's important that we do take some time out 45 minutes just to focus on ourselves rate ourselves and then hopefully if possible move forward and try and enhance ourselves in any way shape or form I hope you've enjoyed it lovely to have you here this morning thank you so much please fill out the survey as well because we love to hear your feedback and if you want any additional resources we'll also send them to you but thank you Katrina once again it's been an absolute pleasure great to have you here and thank you everyone for joining we really hope that you got a lot of insight out of this please take the quiz because I'm really looking forward to understanding my intuition is in line with everything that it's been to be thank you for joining we'll send you the recording and enjoy the rest of your day and the next of the business skills series that we have to offer see you soon thank you for having me bye


So, I've returned some rough written notes for Task 1 for most of you, but we'll talk generally about, for everyone, for the feedback about Task 1, which was, list the information systems in SIT, within them they have different sets of information types, so list those information types and then do a categorization of the requirements or the impact in terms of confidentiality, integrity and availability, using that method that was described in the security risk analysis document. So most people I think are on the right track are okay, so don't spend too much more time on Task 1 if I've given you feedback, maybe just make note of what I say here on the slides. Update and then move on to Task 2. Again, there's no one solution that's quite open-ended. So, from all the submissions, some people have a lot of information systems, some have three or four. These are some of them that I saw from the different submissions, so always people said something about registration, whether they broke it into separate grades and timetable or they combined it into one, but some system in SIT keeps track of your grades. Our main purpose as an institute is to educate people and the way we evaluate is to give grades, so that's important, so that results in your degree at the end. So keeping track of student grades is an important information system, but the thing that we call registration or at least the registration website actually provides other things like a timetable, student contact information. So you could break it into one or you can break it into multiple information systems or maybe just one. I'm not too concerned, but you need to mention something about grades. There's a system that provides us internet access, including Wi-Fi access, but not just Wi-Fi, but on the labs as well or in some computers. What do you forget? The way that SIT is set up and in fact it's a generally a legal requirement inside the country that we need to track who accesses the internet. That led to one of the login systems for the internet that is you log in before you get internet access. So with a username and password. So there's a system to keep track of that. There's a lecture note system, so there's that website where some people use to post lecture notes. I don't use it, we use another one. Library, which may be broken into different parts, I think some people included that. So keeping track of books, keeping track of borrowing, borrowed books, keeping track of who needs to pay overdue fees. Student finances, that's separate than payroll. So that is, this is a fee paying institute, so you need to pay money each semester. So keeping track of who paid what is one thing. The print service, I think there's some print kiosks around. Student affairs, some people listed that has a website and a system to keeping track of what was in student affairs. Attendance check for different activities. Scholarships, scholarship information, students who are on scholarships need to do again some attendance check and perform in some activities. So there may be others, but most of these are aimed towards students, so you know about them and you know how most of them work. Fewer people mention things related to staff. We are an organization that we have students and staff or employees, better word. As much as I like teaching you, I don't do it for free. I like to get paid and therefore as with any organization, we have a payroll system. There's some computer system that keeps track of what my salary is and make sure I'm paid every month. That's important. Any organization with a moderate number of employees will have some automated payroll system. The details of it I don't even know, but I think you can guess that we need to keep track of everyone's salary and maybe that the payments made towards that salary and the information about the employee's bank, where they pay, they don't give me cash, they transfer it into a bank account and so on. I think some of you have seen we need to swipe our card as an employee to check in and check out. So there's some system that keeps track of that. Not so important, but we do things other than teach in SIT, so we need to keep track of some of the activities that we do to keep a record and report to the university and report to others to show that we're good. We also have a web mail system, an email system more generally, but also a web-based interface. There's SIT website. That is an information system in its own right. It's a system that provides information to external or to different users. Not many people mention that. I think that's an important one and maybe even other websites. Some people mention there's, I think, related to student affairs and so on, keeping track of exchange students and so on. Moodle. I don't think anyone mentioned the system that you use every week in my classes. It's separate from the others. It's separate, so you should treat it as a separate system. And I suggest you include it because, A, it's relevant to you and B, you know about the details of what information may be on there. So I think most people are okay. Some people, if you've only got four or five information systems, add a few more. If you've got 10 or so, then focus on the ones that you have. You don't have to be complete. Information types, there's not much I can say that covers everything of all those information systems. Think about the data stored. For example, in those information systems, what information or what data must be stored, say, in a database or in files? That will give you a hint as to what the information types are. Like contact information. You don't need to go into details. I think we understand that contact information includes those standard things like name, address, maybe phone number. Maybe other things as well. Oh, I forgot. You're doing this.  So your assignment is that SIT has brought you in as an external consultant to analyze the security of SIT. So you need to know some context about SIT. And as students, I think you know enough context to do this analysis. But in some cases, you may not have enough information. For example, I don't expect you to know the details of all the staff systems. If you don't know, then use some common sense, guess a little bit that we have a payroll system. The details are not important. In real, a real analysis, you would be able to ask the people involved and ask them, well, what is the payroll system? How does it work to learn about what the information types are? But in this assignment, you have limited resources to do that. So I think most people listed a reasonable set of information types. Many systems have logs. We may mention that today in our topic on intrusion detection. Web pages are not an information type, but think about the information in web pages, not just in databases. Many information systems, well, most will include multiple information types. I don't think there are any where there's just one information type in the information system of the ones we listed. Some people listed statistics as an information type. Well, you could, but I think if you think from a database perspective, the data stored in the database, the statistics of that data is not normally stored. It's calculated. So maybe easier to treat those statistics, not as an information type, but just as something that can be obtained from the information that we're looking at. An example was, okay, the score of a student or the grade of a student in a course may be an information type. Many people listed that. That's okay. But a statistic of those scores, like the average score for the class, doesn't necessarily need to be listed as an information type. Of course, we can obtain that from the scores quite easily. So if an attacker obtained the scores, then they can obtain the average score. So my point is that the statistics don't list all the statistics of all the different pieces of information as different information types. Information types are shared across multiple information systems. So many are reused. But I think most people went okay with that. Then you had to do the categorization. And with respect to confidentiality, integrity and availability, you need to categorize those first the information types. What's the impact on SIT if the confidentiality is compromised? Is it low, moderate or high? That's what you had to do. Here's the definitions of low, moderate and high. Not too precise, but low has a limited adverse effect on the organization. Moderate, serious, high, catastrophic or severe. What does that mean? Again, that's up to your interpretation. How do you choose the right level? Again, there's no right level. But I think in some cases, the levels that some people chose, I thought were different that I would have chose. Think about the adverse impacts. What goes wrong? If someone can read some confidential information about your grade, who cares? What's the impact of that? How does that impact upon the organization of SIT or the members of SIT? Who would be effective? Is that impact going to be for one day or for the rest of your life? Maybe the grades are compromised and you don't get your degree and you only learn about it in 10 years time. You didn't get your degree because someone changed all your grades. Well, that's a large impact. So think about who it impacts and for how long and maybe what's the cost of the loss or of the attack. So cost, you can measure in different ways, but for an organization like SIT, money is one thing. Do we lose money as an organization because of that attack? How much? Or reputation is another thing. As an educational institute, reputation is important. So again, no one answer, but think about the adverse impacts before you give those low, higher, moderate. Another way to compare or to determine what's a good value is to think about different information types and compare the impacts. So if you lose the integrity of grades, that is the system allows some grades to be modified, does that have the same impact on SIT and the members of SIT, including students, as if we lost the integrity of the library book records. Which one has more impact? Anyone want to have an idea? If someone goes in and change your grades from A's down to F and you find out in one year time, or someone goes in and change the title of a library book from C programming to D programming, which one has the most impact on SIT? The grades. So therefore think about when you give the integrity rating for grades and library books, should they be the same? Well, I would think not. I would think that the grades would have a higher level than library books. Many people end up, especially with integrity, I think ended up with high, high, high, high, high. Everything was very important to them, which ideally would be nice that, of course, we'd like confidentiality, integrity and availability to be considered, but what's the impact of them? So just be careful when you categorise. And these are some guidelines for how to help you categorise. That's all I want to say about task one. I think consider this, update what you've done, and that's it. I think we're not... Don't spend too much more time on task one, other than just doing one single update for an hour or two of the current one, and move on to task two. Any questions about task one? What is task two? The risk analysis. So now you know something about the different information systems. Now let's look, okay, at some individual risks. What can go wrong? So the task is to perform a risk analysis, producing a risk register, and I've taken the methodology from some standards and summarised it in the overview of security risk analysis. So I've summarised a step for this, and I've tried to make it simple so that you can do it with the limited information you have about SIT. And to help, I've created a template, a spreadsheet that you can use, and you're just filling the fields. So let's have a look at that template to explain what you need to do. There's a number of columns. Let's just go through them. So at the top, so the columns indicate the information you need to fill in, and for each row represents a risk. So here's your group number, because later I may combine the submissions from all groups into one, so everyone can see. So your group number, which is always the same for you. The risk number, just increment, easy. Some description of the asset. So we think about risks to assets, the information to software, hardware, communication networks. So what is this risk to? What is this threat on? So for example, I give two examples, or partial examples here. The asset may be student grades. We represent it. We found out from the previous task, student grades are important. So that's an asset. That's something we want to protect. What are the risks against the student grades? What can go wrong in terms of confidentiality, integrity, and availability? So that's your task. Think about, well, what are the assets? And then what are the threats or vulnerabilities of those assets? So an example here, some student who's in SIT intercepts grade information of all students in the class as that grade information is being sent from my computer to some server. Okay, so I've calculated your grades on my computer. I upload that information to the information system for grade storage. While I do that, some student intercepts that and learns the grades of all students in the class. That's, I think, a threat or a potential thing that can go wrong with respect to grades. So a short description of the threat in this case. And then do that for other threats on the same asset. So there may be multiple threats on that one asset. Think of confidentiality, integrity, availability. There may be another threat that somehow student changes the grades or external user changes the grades. So that will be separate. They'll have a different impact. So there may be multiple threats against the same asset. And then there are other assets in SIT. This list could become very long. I don't know how long it will be. There's no again right answer. But it's going to be more than 20. I don't need you to go into cover every asset and threat, but try and think of the main ones, the ones that you know about at least. Then you do some analysis of, well, what's the likelihood of occurring? Like likelihood of occurrence for that threat? And what's the impact? To work out what's the risk? That's what we're trying to achieve. For this particular threat, what's the risk? The risk level. And you fill in these columns and we'll explain them. So we have some likelihood, which we split into occurrence, impact, and then some overall likelihood. And then the consequence, if the threat does happen, if someone does learn the grades, what's the consequence? What's the bad thing that happens? And again, give it some level. And from that, we can determine the risk level, because the risk level comes from what's the likelihood of that happening? And what's the consequence of that? So if it has a very high chance of happening, that threat, and there's a very high consequence, if it does happen, then the risk will be very high. That's the concept here. Now, where do you get these values from? High, moderate, moderate, low, low here? Well, this, the other document that I've given you gives the explanation of these values and how to go through these steps. And usually they're broken into five levels, very low, low, moderate, high, and very high. Let's look at some of them. So in the spreadsheet, I give you the tables that explain those. Okay, so you look up those tables to find the value that you think is relevant for this threat on this asset. Again, it's your interpretation. So let's have a look. It's hard to see on the screen, but we'll tables eight and nine is the first thing. Let's go to them. So table the likelihood of a threat event initiation, and the likelihood of a threat event occurrence. What's the difference? One is related to what if a deliberate attack takes place? This security analysis actually also considers what if a mistake happens, which leads to the threat taking place? An example is what if I send an email to the secretary saying, here are the grades for the students for ITS 335, but I accidentally include the CC to the whole student email list. And therefore I've accidentally released that confident, confidential information to everyone. So that's not a deliberate attack, but it may lead to the same consequence as if there was a deliberate attack. So in fact, we do consider malicious attacks and accident accidents. And the difference is, if you go through the previous tables, the threat event initiation is regard to deliberate attacks. And this threat event occurrence is that what you think is the likelihood of that an error or an accident occurring. And the previous tables give examples of these. So you can see examples, active nature, a flood that shuts down the campus for two months. Okay, what's the likelihood of that happening? What's the consequence? Well, I think you can guess that. Well, you know it. So say for a deliberate attack, then you need to give a rating. Well, give some some numbers here as the some percentage of it's almost certain to initiate the threat event. You're not necessarily can be successful, but to try it. It's almost certain that a student's going to try and intercept the data being sent from me to the server. Or it's very, very unlikely that someone's going to do that attack. So you need to give some judgment there of one of these five levels. Similar, the likelihood of the accident occurring less than once every 10 years of flood is likely to shut down the campus. Okay, so very low likelihood. Or it's very, it's highly likely that faculty member would send the email to the wrong address. Okay, so you'd give it a high rating.  That's from table eight or nine. Then the impact table 10, again, very high to very low. If it is initiated or occurs, or if the attack is initiated or the accident occurs, what's the likelihood of having negative impacts, adverse impacts? Almost certain through to highly unlikely. So even if it's someone tries to listen in, what's the likelihood of having some negative impact on the organization? Give it a ranking. And then the next one, the overall likelihood is just a combination of those two. And you just look up in a table. So we have high occurrence, moderate impact, table 11, we just do a look up high occurrence, moderate impact, sorry, high occurrence, moderate impact, moderate overall likelihood. So it just gives us some guide as, okay, if we know the chance of it happening, and we know the likelihood of a the impact, then we can get an overall likelihood. So look up the values in this table to get that next value. So that's easy. So your task really is to, to choose, think about the values for these. Then next, the consequence, if it does take place, table 13, some other tables give examples. If you want to know what some typical impacts are, have a look at the examples. The impact of threat events. So again, this is looking, okay, it takes place. What what is the impact? What's the consequence of this? And this is similar to what you thought about with your task one, think about the impact of the threat from severe or catastrophic multiple severe. Well, this one's quite extreme, adverse impacts or catastrophic on the organization or even the nation, down through to negligible. So almost nothing. A very small impact. Similar that you're doing, or did in task one, try and classify and look at the impact of different threats. Once you have the overall overall likelihood, and the consequence, then you can determine the level of risk. Again, the risk is a combination of what's the chance of it happening, and how bad will it be if it does happen? Table 14, you just look up again. You look at the overall likelihood. If it's low, and the level of impact is high, then this table suggests that the risk level will be low. Even though the impact is high, the chance of it happening is quite low. So as with any risk analysis, we look at the probabilities. This just simplifies by breaking into five different levels. We cannot often give numbers to what is the probability, what's the impact. Therefore, this procedure breaks it into five general levels. And you get your level of risk. And you're done. You go through those steps for each asset and threat. The risk priority is once you've done them all, then try and rank them. One through to end. Highest priority down to the lowest. In practice, the risk priority should, of course, include the risk level. High risk level, very high, or very high risk level should be highest priority. But in practice, with an organization, we need to also consider the cost of doing something about it. So the priority is really, okay, we know of all the risks now. We need to now take actions and step past three is about what actions to take to prevent those threats. So the risk priority is supposed to say maybe to the boss of the organization that these are the risks we think you should focus on this one as number one because it's very high risk level. And the cost of fixing it is manageable. It's not so much. If we had a risk which was very high, but the cost to fix it we estimated was be billions of dollars, then maybe the priority to fix it will be lower. Because it's just not practical to expend that cost. But in your case, I think the risk priority is not so important because it's hard to estimate how much it will cost. You can try, but get to the risk level was the main thing. Questions. You need to start on that, which involves a bit of reading those tables. There's some examples in there. And just thinking in your group, assets and threats. Okay. When should we set the deadline for task two? Any suggestions? This Friday? Maybe a week, a bit over a week. So say you get started today over, maybe I'll I'll suggest that by next week, next Tuesday, next Thursday, I won't set a specific deadline, but you should be have done some of these within a week from now. Okay. So get going on it so that the next task, task three would be doing a little bit more detailed analysis of individual threats and how you could carry them out as the malicious user. So start maintaining your list and you build it over time. What are the red dots? These are just some comments that explain this template. So for you, don't modify the first two rows. The next two rows are just examples. So when you get this template, delete these two rows, or use them as examples, but delete them in your submission, that's all. And then submit the the spreadsheet. And the tables or the table numbers, sorry, refer to that other document this overview of security risk analysis, which is on the website as well. Any other questions?


Well, Mr. Mahendra Swaroop is the founder and managing partner at Anukrith Capital. He spearheads the investment strategy of the fund and oversees investments made by Sigma. A prolific investor and an industry leader with over 40 years of work experience, he is also the founder of Venture Gurukul, a $20 million fund. He serves as the chairman of the Association of Independent Directors of India and as the President of Startup India Association. With over 40 years of work experience, he has served in various leadership roles such as Executive Director PepsiCo President and COO at Sanbury's Moscow along with 13 years with Nestle India Limited. He has also served as the managing director and CEO at Times Internet Limited, a Times of India Group Internet Mobile Convergence Company. As the hero brand capital of Times of India Group, he led private equity investments and structured finance across various businesses in growth and expansion phase. He spearheaded investments in over 150 ventures across multiple industry verticals. He will be speaking on the topic from Digital Advertising to Digital Economy. Please put your hands together, ladies and gentlemen, for Mahendra Swaroop, founder and managing partner, Anukrith Capital. Please, louder everyone from the back. Thank you. Good afternoon everyone and thanks Anurag for having me here and especially for organizing a physical meeting and as Anand has attended the first physical meeting I am doing post COVID. It's great to see so many people here without masks and so I don't know we've got used to even recognizing people with masks now so I think it's important. She just said that I have 40 years of experience so you can guess my age and it's quite ironic that I'm here to address the digital 40 under 40. I don't believe in this 40 and the 30s and under 30s and under 40s. So it's what you think and how you think determines your age and that's extremely important. Everyone talks about the Indian demographics of how young are going to determine the future of this country which is true I think they are the future consumers but not necessarily the people who will determine the future of this country. The future is going to be determined not by us but by technology. So that has to be very clear that we as humans the only difference between us and animals is that we have a brain which thinks and our thinking power is an overdrive. So one has to believe less and less in yourselves and more and more on the technology we are getting dependent upon. So all of us have to adapt to technology if we have to survive because whenever there's a security screen on your website or on your mobile one of the things they ask is we are still checking whether you're a robot or not. So the technology already believes that robots will take over from humans and it's not going to be robots but we will become robots because we will have implanted technology and we'll already be carrying and we already are carrying in everyone's hand there's a piece of device in your hands and no one lets go of it. Everyone in the front row I can see has it in his hand.  So you're already connected with technology and it's going to be only maybe less than a decade that this will find itself inside our body somewhere whether it sits here or in our wrist or in our tummy or in our legs it's a matter of time. Payments or credit cards for example have already become wearable.  So you're coming closer technology is actually coming closer closer to you physically and it's going to get inside your bodies very very soon. So if you talk about the digital economy you can't talk about digital economy without talking about how we are going to behave or we are going to get overpowered by the digital phenomena which we are seeing. I have been associated with technology since year 2000 now it's 21 years since I was hired by Times of India Group to lead their initiative other than print. So we started out with Times Internet and we had IndiaTimes.com and several properties under it. We were struggling at that time because it was just the post the so-called internet bubble and we did well. And I believe I don't know the Times and our team is here but I believe that Times Internet is more valuable as a company than the Bennett Coleman print business. So if you look at how the digital businesses are growing they're growing very very fast. Anurag rattled out a lot of statistics so I don't want to repeat that statistics. But I think one thing which is very critical is that how do we monetize digital. I think if you see any of these valuable companies which are listed either in the New York Exchange or Nasdaq whether it's Facebook or it's Apple or it's Alphabet or whatever you may have almost 40 percent of their market cap is attributed to India. If you look at Facebook there are 400 odd million Indians on Facebook equal story with Twitter or Google or whatever you may call it. So what happens is that we are creating wealth for investors overseas. And when it comes to regulations some of our regulators are actually very very weak at regulating the digital economy. We have given our wealth away on a silver platter to these foreign platforms. So it's what I would urge people like aren't going going kind others who are still young and below 40 to really how do you get back this wealth which we as consumers are creating for overseas investors. So you have to realize that we have made Mark Zuckerberg what he is today. It's not the U.S. It's just the number of people on Facebook from India. It's a myth that you need to be making money because we don't actually they don't earn very much out of these 400 odd Indian Indians. If you project it over a period of the next 20 25 years they'll probably we'll be contributing almost 85 to 90 percent of these global platforms wealth and revenues. So my why did I get into investing is that yes I didn't make a lot of money or of investing in a early stage digital agencies we were the founder of an agency called Quasar which we sold to WPP one of the guys Sir Martin Soros way keen to understand what digital was they never understood what digital was. So one of the first acquisitions in this in India was Quasar which was a digital agency founded by me and then we recently sold where I was invested in a digital agency called Tairu to Denso right. So I think I started making my wealth much after 40 right. So this is you you can it says to people who are older than 40 here that you have you can continue to make money irrespective of how old or where you are and I think you just need to recognize what's coming. That's extremely important that what's coming is is very very important to understand. Most of us get lost in what is being or what is now and very few people actually live in the future. The technology enables to live in the future. So I would urge all of you who irrespective of how old or young you are that learn to live in the future. The first 30 minutes when you wake up don't think of what happened yesterday don't think of what's going to happen today but think of what's going to happen to you 10 years down the road. Just give 30 minutes to that and your mindset the way you approach life will dramatically change. That's extremely important because what will happen is that if you continue to live in the past and live in the present technology is going to overtake you and you'll find it that much more difficult to survive in the present because you haven't been keeping pace with the changes in technology. So I don't when people fiddle around with their cell phones and all I encourage them yes do it because that's what the future is. It's not a distraction for me at all. If you are on WhatsApp you are on Twitter or whatever it is while sitting and listening to me do it because you will get to know more about me through the device which you have in the rather 40 minutes I'll talk to you now. So I think it's important that this gadget which you have in your hands is put to use as much data as possible. The more data you use the cheaper it becomes. So I think when I say that you live in the future you genuinely need to practice how to live in the future and the only way you can live in the future is toy with as much technology as possible at least for 30 minutes. Not the technology which you are familiar with but the technology which you are not yet familiar with. So learn to download as many apps as possible. Play around with them. Learn and each time you download an app you will learn something new. I think what I call is how the everyday economy is getting digitized. The number of transactions which are happening and Anurag gave you some idea of the number of transactions happening on the e-commerce platforms but other than e-commerce all of us whether we realize or not transact at least about once every day. Whether you're sending money to someone or you're receiving money from someone you're logging into your account whether it's a credit card account or it's a bank account.  I think that's where the digital is having the maximum impact. Now the topic of the day is that digital advertising and digital economy and I believe that advising and economy and digital economy are just part of the same thing. So there's no transition. So there is no digital economy and there is no legacy economy. So they're all one. So in the sense I really don't believe that any of these large corporations or the large brands that you hear of today will survive for the next 10 or 15 years. Already you see that how brands are losing their importance. So how many of you people really care for a brand like Coca-Cola or Pepsi-Cola or any of those. So no one really cares about brands any longer. So the brand creators are very different people. They're no longer advertising agencies or creative people in advertising agencies is influencers sitting in Lodihana, Jalandhar, Raipur and Almora's of this world who will determine the future of how we consume and what we consume. So where does the who can influence the consumer today and how will the consumer going to get influenced is going to be dramatically different from what it has been in the past 10 years and what it is today and what is going to be in the future. So all of us will believe in less and less in what other people tell us what we are going to believe in what more and more the technology tells us. So I'm not a firm believer that privacy is important or fake is dangerous. We are all fake by the way, right? So none of us are genuine. We are all fakes. So why are we scared of fake news? I'll be worried. I'm not worried about fake news because the shelf life of fake news is very limited when it comes to technology. You get to know whether it's fake or not within a couple of seconds on your device. So fakeness and all will be self-checked by technology itself, right? What I'm worried about is biased news. So all, including the Indian Express group, the Times of India group, whether it's Times Now or it's whatever you have, right? They're not fake but they're biased. So I think we need to worry more about biased news than fake news, right? So biased news is going to vanish. All the editorial influence which is there on news today, right, is going to vanish because news is becoming more and more democratized. All of us will generate our own news, right? And that's what's going to be important. And we will consume what we see, what our friends see, that we trust our friends more than we can trust a faceless editor of Indian Express or Times of India, right? So the news generated by our close group of people will be more important and genuine to us than anyone else's news we see every day.  So India is actually growing very, very fast. People don't even understand that how India is growing. It's growing at a pace which even the economists are not able to really figure out. Now, some traditional ways of measuring economy, like the GDP growth per capita income and others, are actually going to become redundant. When I say that India as an economy is growing very fast, India today, by far, has the highest digital literacy. Now, digital literacy is important. A rickshaw puller in Raipur may not be able to sign his signatures or put a signature which is the criteria for whether you are literate or not, but he's able to transfer money on Patreon. He's able to receive money on Patreon, and that is digital literacy. So if you know that India has the highest digital literacy in the world, you are even higher than the United States of America. There are more people transacting in India in the digital economy than the United States of America, and we have overtaken China a couple of months ago. So we are the largest digital economy in the world. So you can't beat that. And if you're missing this piece out, that we are the largest digital economy in the world, then you are actually missing the action of the future. So everyone is now talking about why is Nike, market cap is more than many of the established 100-year-old companies, why is Patreon valued so highly? Because investors like us realize that the digital economy is more important than the traditional economy. Traditional economy in India is a laggard. The digital economy is what is kicking in, the growth. So if you are part of the digital economy, then the assets today, believe me or not, are still cheap. So if you can get hold of a share of Patreon or a Nike or a Zomato, just grab it and keep it and forget about it. That's what we did 20 or 30 years ago when we bought Reliance. So it's not expensive. And there are hardly any players in the digital economy. If you see there are less than a dozen players in the digital economy and they're driving this economy crazy. And if more and more unicorns get created, more of them come for investors in the retail market, the more this digital economy grows. So all of you, right, what this is going to urge you, all of you, that think that you're part of the digital economy and you are not part of the legacy economy. So every rupee you spend today, 60% of that goes to the digital economy. Only 40% of that goes to the traditional legacy players. So where is the money going which we are spending? It's going to the digital economy. So it's important to realize that when you buy a bottle of shampoo, who's making the money? The logistics company, the warehousing companies, which are all driven by technology. So you, as long as you believe that you're part of the digital economy, you have a chance to become rich. If you continue to believe that you're contributing and you're part of the legacy economy, right, then you're going to lag behind. So start thinking differently, right, and that's how things will happen. Now, I'm a fan of Indian everyday economy.  And that's what I call the digital economy. If you are transacting, if any venture or any founder who comes to me and he tells me that, yes, he's part of the digital economy and that everyone would transact on him, that's where the money goes. So if you are commuting in the metro, rather than commuting on your bike or in a car, right, I normally ask whenever a founder comes and sees me, I normally ask that, how has he traveled? If he says he traveled in the metro, he gets 100 out of 100. If he says he's traveled on his bike or on his car, right, then he gets a minus because he's not part of the future economy, right. So whether it's your environment or whatever it is, you have to think future, right, that in the sense that whether my kids, I'm allowing them to breathe pure oxygen 30 years down the road or not, whether I'm contributing it for it today or not. And if I believe that I'm not going to contribute, then I don't have a right to live. We have to live for the future. As I said, we have to live in the future. We have to think in the future. And all our actions today have to be geared towards the next generation which we are going to be actually responsible for. So I think if you believe in the future, then it's not only just making money, it's just believing in the future in all respects impossible. I'm just told the times above because I have lots of things to show you, but we can do it some other time. But I can take some questions. Now, if you see that the mobile first, right, how large we are, we have overtaken China in terms of the economy. Now, if everyone says that we are at least about in terms of economy, we are the fourth or fifth largest economy, but as I say, we are the largest digital economy in the world. And that's what we should be actually believing in. The Indian internet economy grows at 3X, right? If you look at the traditional economy, how it is growing, we always say, okay, Indian GDP will grow at a pace of, say, 6%, 7%, 8%, and if it grows in double digits at 11%, you know, the economy is doing great. But everyone forget that the digital economy is growing 3X almost every year, right? And that's the real economy. So India is going to be a digital powerhouse, I call it the juggernaut, right? And that's what it is. Now, we have moved up, we are moving up the ladder from adoption, right? Going up to actually, you make it that it becomes part of our life, right? So I think, as I said, invest in emerging opportunities that are transforming the everyday economy. So it's extremely important, and when I'm saying this to Mr. Anand Goyankar that he said that he's still got some 200 million people on his digital platform, right? I can tell him that if he learns how to monetize those 200 million people under different products, he'll be happier, right? And if he's going to continue to invest behind his legacy brands and go from Indian Express English to Bangla to Tamil and others, right? Good luck to him, but if you want to be rich, be part of the digital economy. That's all I have to say. Although I have something more to say, but any questions I'll take now, but just Prankar, can I take questions if there are any questions? And he'd already invested, engine invested. He's a guy who gets two, three lakh rupees, but he's a digital marketer, so he's able to help us. And he'd invested in 11 companies and he just had two exits. He doesn't have to work for the rest of his life. So what is your advice to professionals in this room in terms of engine investing, which is non-conflict? Not investing in companies that are competing with your own business or your day job, but... Yeah, I think it's good to talk about engine investing and you do hear stories where people have become billionaires at a relatively young age, right? But very few people hear about the number of people who lose money and don't do well, right? So I think you have larger number of failures than you have successes, right? But my advice to the young people here is that if you have money to spare, then pool your money and then look and invest in ventures which you know of, right? Which you believe in, all right? As I said that if you believe in the future, then think future. You're young, you're 25, 30 or 40, right? You have another, almost by the time you grow old, probably the mortality will go up to 100 plus years, right? So you have so many years to live, right? So go and take the risk, invest in startups. I started my investing with investing in startups and I've been fortunate and lucky, right? And my only thing was that one thing you have to be careful that you will get your exits and you'll get your money not overnight. It's not a stock exchange, right? You have to have patience. It takes five to seven to 10 years to make money, right? And when I invest money and I know that my horizon of exit is going to be seven to 10 years, then I think that how old would the founder be when I'm looking at the exit? If the founder is going to be still below 40, then I'll not invest behind him, right? But if I believe that the founder is going to be 40 plus by the time I'm going to get in my exit, I'm going to invest behind him. The reason is that the future investor in his company is going to be a person with gray hair, right? He wants maturity, right? In the investment in the founding team. He wants a mature management team which he's acquiring. So your founders in which you are investing should be actually 40 plus in seven to 10 years. So you're investing behind not an 18 year or 20 year old founder, but you're investing behind a 28 to about 30, 32 year old founder. So that by the time he can offer you an exit, he's 40 plus. So his credibility is much more with investors, right? Who are actually going to give you the exit. So you can be rich and if you are still starting your career, I have an interesting, I don't know whether you can show it, the jobs I know the time is over, but is about some jobs, right? So how we scan the future, I'll tell you that what are the emerging jobs? Very few people realize that I don't know whether it's there or not. Not this one, there is one more. Yeah. Now the 20 fastest growing plus declining jobs. I don't know how many have you seen this, right? Now this is the biggest guide for investors like us, right? All of you in this room, I can challenge you will have no jobs in the next five to seven years. All of you are going to be out of jobs. Now if you see who's gaining jobs, animal trainer, right? Is this the fastest growing job category is animal trainers? Your pet trainer, your dog trainer is the fastest growing job category in this country. Now just look at the jobs which are growing, right? Home health and personal care aids, right? Now, and just see the declining jobs, right? The traditional jobs are nowhere to be seen. So this is the impact of the digital economy. When you are part of the digital economy, you have so much time on you, right? You can afford a pet. You have the time to look after your pet, right? You want to spend money on your pet, right? Who would train your pet? And that's why there's so much of investment going behind pet startups. So when you are becoming an investor, right? You think far, far ahead. And these are the cues which you get, right? Where the future is moving, right? It's extremely important, right? So I think this slide, if you can assimilate, right? We'll tell you that what you should look for in the future. Thank you, thank you very much. Thank you.