The importance of a ‘Coach’ in your life
Sachin Tendulkar is considered as one of the all-time greats and has almost all the batting records under his belt. One may argue that Sachin was god gifted and didn’t require anyone to guide him on his cricketing skills.
However, had it not been for Ramakant Acharekar Sir, we would not have witnessed the exploits of the phenomenon called Sachin on the cricketing field. In fact, Sachin has time and again admitted that he has always tried to remain a student of the game and used to discuss his game with his contemporaries, teammates and of course his mentor and coach Acharekar sir.
A good coach can change a game, a great coach can change a life.
Every year on 5th of September, we celebrate the birth anniversary of Dr. Sarvepalli Radhakrishnan as Teacher’s day. Our parents, teachers and life (read Zindagi) have played a pivotal role in our upbringing. Everybody knows the champion sprinter Usain Bolt but probably doesn’t know much about his coach, Glen Mills the man behind Bolt’s stupendous career. All successful individuals in all spheres of life have been guided by their respective coaches.
Have you heard of John Buchanan? He was the coach of the Australian cricket team between 1999 and 2007. John Buchanan was considered an unlikely candidate for the job of a coach given that he had not played at the test level. However, Mr. Buchanan ended his career as arguably the most successful Australian national cricket coach with 3 consecutive ICC world cup titles, series victories against all the test playing nations and many more accolades. Steve Waugh and Ricky Ponting, by far the two most successful captains made a mark when they were being coached by John Buchanan.
As Morgan Housel rightly points out, “Investing is not the study of finance. It’s the study of how people behave with money.”
Therefore, timely guidance and handholding is more about behaviour and less about complex jargons — technicalities. Everyone is unique and therefore “One Size Fits all” cannot be an answer when it comes to personal finance. Change is the only constant. An investor faces the challenges presented by the latest trends and cannot keep updated with the frequent regulatory changes, changing investment landscapes, taxation rules etc. Financial coach is like the ‘Sarathi’ to make sure that the investor stays on track to meet his financial goals irrespective of changes surrounding him.
A small change in the batting grip led pathbreaking results for young Tendulkar. It was his coach, Acharekar Sir who made Sachin rectify his batting grip. Many a times as an investor you require a soundboard to voice your concerns, get your queries addressed and be reassured on your path to Wealth Creation. There cannot be a Personal finance without a person involved. Financial coach draws a roadmap considering the risk profile, investment goals, existing financial position and more importantly by conducting periodical reviews. Financial coach can help you design and take a firm GRIP (Goals, Risk Profile, Investments and Processes) on your financial life.
In India, cricket is a religion and Tendulkar is the most worshipped cricketer. However, even Lord Indra needs the guidance of Lord Brahma in difficult times. American Tennis coach Nick Bollettieri once famously said, “Most of what I learned was from my students.” The point is since coaches are exposed to so many students, they pick up valuable inputs from students and pass on to the ones who need it the most. Tendulkar and team India’s astounding world cup win after a gap of 28 years wouldn’t have been possible without the guidance of the great Gary Kirsten.
“The day before the final, we knew we had in us what it takes to win.”
— Gary Kirsten
As they say “Market is supreme” and hence no one can beat the market but having a financial coach by your side will definitely help you in befriending Mr. Market and be with you on the road to successful Wealth Creation.
Article by:
Aditya Karnik — Aditya is a management graduate and a CFP who has spent over 12 years in the financial services industry. He has been associated with Sapient as a Wealth Manager for the last 3 years. He is a Federer fan and has a keen interest in Sports and Music.
