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Success without purpose has no meaning at all, believes Prem Khatri, Founder & CEO, Cafemutual.
He was speaking at the Cafemutual Ideas Fest CIF 24 on the importance of purpose in distribution business and how it can help an MFD become successful.
Prem shared the anecdote of terminally ill patients who were asked about their biggest regrets in life. Interestingly, most of the regrets had nothing to do with money but were linked to having a purpose in life. The number 1 regret was: I wish I had the courage to live a life true to myself, not the life others expected me to lead.
Other regrets included ‘I wish I had the courage to express my feelings’, ‘I wish I had stayed in touch with my friends’, ‘I wish I had let myself be happier’.
So, very few people at the end of their lives, care about money, fame or power as much as they think that they will.
Prem explains how MFDs also fall prey to a similar mindset where they make crossing the figure of Rs.100 crore in AUM as their benchmark for success but do not make the prosperity of their clients a purpose of their lives.
He shared his belief that looking at the mutual fund business in this meaningful way can help MFDs serve their clients better and give them a better chance to actually cross their dream milestones.
