Harshad Mehta was a popular stockbroker, who tried manipulating the stock market in 1992 by drawing funds from banks deceitfully without relevant bank receipts and later using this liquidity to buy huge amounts of shares at a premium across many industrial dimensions.
Directed by Hansal Mehta, ‘Scam 1992’ is a show based on the financial scams in India by Harshad Mehta. It covers all the financial and economical features of the scam and also gives us some mainstream business lessons.
The Scam 1992 web series is an excellent piece of content for those who have an interest in business, startups, money, and investing. Here are 5 things you may learn from scam 1992:
1) Research- As shown in Scam 1992 Harshad Mehta not only had good analytical and communication skills but also he always had deep research of various aspects which always helped him doing business. Researching about your field, about people, about the competition you will be facing in advance will always benefit you in getting a better hold of the business.
2) Know your competition- Always scrutinize your competition. Analyze their work and working style and learn from it. Your competitors can be your teachers also. To get predominance in the market, you need to know what your competitors up to.
3) Develop your brand- Known as the big bull, Harshad through his brand Grow more consultancy acquired and maintained the trust of his clients and banks. Put lots of effort into strengthening and upgrading your brand as it will help you to build that trust with your clients and business stakeholders.
4) Networking- ‘Your network is your net worth’ This statement is truly backed up by Scam 1992. Harshad Mehta’s rise and downfall were only possible because of his networks. Try to connect with people, expand your network and learn from the failure of those who have already walked the path you want to walk.
5) Illegalities won’t sustain– Going against the system, controlling and influencing the facts and building a business on a false and flawed foundation will never sustain. You can’t hide or run away for long, the truth will always come out.
Apart from these the other lessons we learn from Scam 1992 and Harshad Mehta’s lief is that your dream determines the direction of your life. Take risks because no risk is the biggest risk. People will only recognize you as a legend if you embrace and value what you do irrespective of position.
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Also Read: How To Know Whether You Are A Start-up Guy Or Not?
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