5 Tips For Negotiating Your Way Out Of ANYTHING

Negotiation is a necessary skill to have, for even if we are not aware, we are constantly negotiating. When your friend wants to go get a burger but you’re in the mood for pizza, with your relatives, with your partner or your children. It is not only related to the area of business, talking your boss into giving you a promotion or a raise. Negotiation is a skill that we, inadvertently, use every day and for that reason, it’s a skill worth polishing!

  • LISTEN, LISTEN, LISTEN.

Before you do anything else, just listen to what the other entity has to say. In negotiation, he who knows more has  ultimate control over the situation. When you listen to the person that you’re negotiating with, your are showing them that you care and that it is important to you that they get what they want out of the deal as well. 

Knowing what the other person wants gives you a tactical advantage and helps you come up with ways in which you can satisfy them while making sure that you get what you want out of the negotiation. Also, take time to notice how are they speaking; Is their language open and confident or do they sound wary? If the person you’re speaking to is acting wary, you can start by showing that you are trustworthy and ease their concerns before they are even voiced, which again, will put you in a leading position. 

  • KNOW THE DIFFERENCE BETWEEN MINIMUM ACCEPTABLE AND DESIRABLE. 

When entering a negotiation, it is paramount to be clear on what is that you want to achieve. Deciding on the go can leave you feeling dissatisfied or taken advantage of when the excitement over the negotiation fades. 

There are three points that you need to be clear on. These are; What would exceed your expectations, what is your desirable outcome and what is the minimum that you are willing to accept. 

Let’s say that your ideal salary is “x” a year, that would be your desirable outcome and what you are aiming for in your negotiation. Reaching an agreement for “2x” a year would be fantastic! Wouldn’t it? That would be exceeding your expectations. Now, in the worst case scenario, you would do fine with 3/4x a year, what would be your minimum acceptable. 

In a negotiation, you should aim to stay as far as possible from your minimum acceptable for the best results, but always remember that you can’t go below that.

  • START THE NEGOTIATION WITH AN OFFER.

Instead of starting your negotiation with a request, start with an offer instead. If you have been an active listener, you must be aware by now of what is that the other person wants. Your counterpart in a negotiation is probably moving in the same spectrum as you are (minimum acceptable, desirable, exceeding expectations) so now it’s time to walk a mile in their shoes and think about what should be their minimum acceptable. There’s where you want to aim! 

The objective of an initial offer is not to close the deal immediately, but to show your counterpart that you are interested in making them happy, build rapport and create a positive atmosphere before speaking about what you want. Also, their attention will be more focused on what they are to gain from the situation, and they are less likely to think about the cons of agreeing to your request. 

  • MAKE IT ABOUT THEM.

You have clearly voiced your request by now, and you are in need of closing this deal. However, displaying need is the most effective way to end up in a disadvantageous deal! Instead of putting your attention on how much you need to reach an agreement, make your case around the reasons why they need to close the deal. 

Be aware of what you can do for them and paint them a picture of the benefits that agreeing to your deal would have for them. Show them that you are just the right person to give them what they want and add pressure on their side instead of yours. 

For instance, you can say that you can only offer to do this for a limited time because there are other responsibilities coming your way in the foreseeable future. Find a way to create scarcity and add pressure to them by making them realize how much of a win-win situation this is and what a fantastic opportunity they risk losing and you will be three steps closer to doing fantastic business!

  • WALKING AWAY IS AN OPTION.

As counter-intuitive as it may sound, displaying that you are willing to walk away and bearing in mind that a particular negotiation is not the only way in the world to get what you desire creates both an “aura” of confidence around you and a sensation of scarcity for the other part that makes the deal irresistible! 

As much as these tips will help you improve your negotiation skills and help you be way more successful when making deals, not everyone is a match and it’s necessary to remember that it is okay that you are not able to convince everyone! Sometimes, you have pushed too hard and you find yourself in a negotiation that has turned against you, or upon further thought, you feel that you are not satisfied with the arrangement that has been made. If this is the case, you are entitled to walk away and try your luck somewhere else!

Implementing the tips above in your negotiations will have a positive impact and increase your chances of succeeding. Remember to have a clear mind and show confidence and you will have them in the palm of your hand! 

Want to improve your negotiation skills? Join us for a workshop on the “Art of Negotiation” on the 28th/29th of September and learn how to get more from life!

16 Unconventional Careers That Did Not Exist A Decade Ago

What a wonderful time to be alive. Given the advent of social media and technology, there are far greater employment opportunities today than, say, when our parents joined the workforce. There’s a plethora of unconventional  careers to choose from. Not just doctors and lawyers, the 21st century has been privy to the rise of YouTubers, ethical hackers, writers, stylists and video game designers – all legitimate careers that pay the bills. If you’re still unsure where your passion lies, we encourage you to go through our list of some unconventional jobs that didn’t even exist a decade ago; if any of them appeals to you, deep-dive into literature about it, start looking for ways to explore it on the field, and then evaluate whether it might be your next thing. The path to a fulfilling future begins here. 

Influencer Marketing

An influencer is someone who has expert knowledge and/or social influence in their respective fields, from fashion to music and journalism to comedy. Think of the people you follow on Instagram – Kusha Kapila, Shayan Roy, Mallika Dua, Zaeden…they’re all influencers because they’ve demonstrated a strong commitment to their passion, combined with a superior understanding of how to use social media to engage hundreds of thousands of people. Consequently, influencer marketing is a form of social media marketing involving brand endorsements from such influencers. 

Expected income: It depends on how big and scattered the influencer’s audience is; the sky’s the limit really. 

Youtubers 

With millions of subscribers hooked to their content, broadcast specifically via YouTube, that may range from documentaries, music videos, web series, music covers, cooking, fashion, and more, these personalities influence pop culture in a significant way. One of the best examples is Lilly Singh aka iisuperwomanii, who has been in the business for around a decade. Now, she’s all set to host the next edition of the late-night show, A Little Late with Lilly Singh, becoming the first ever South Asian, queer woman to do so. Talk about smashing the glass ceiling. 

Expected income: On an average, a YouTuber can receive around Rs 1,300 per 1,000 ad views. 

Comedians

Stand-up comedy has arrived in India in a BIG way – it’s a profitable, viable career option that more and more people are pursuing. Supported by tour managers, artist managers and agencies, stand-up comics are becoming celebrities in their own rights. Did you know that Kanan Gill, who was first noticed for Pretentious Movie Reviews, has just been signed on by a massive, US-based talent management agency in an almost-unprecedented move? This just goes to show that Indian stand-up comics are slowly, but surely, finding their place in the spotlight. 

Expected income: The range is between Rs 5,000 – 10,000 per gig for those who are just starting out to veteran comics who earn over Rs 4 lakhs per 30-minute show. 

Network marketing 

Don’t want a 9-5 job sitting at a desk in a corporate office? Network marketing may be for you. This is a business model that depends on person-to-person sales by independent representatives, often working from home – stellar sales skills required! 

Expected income: You can expect to start with a salary of around Rs 20, 000 but work your way up to Rs 1 lakh per month

Artificial Intelligence and Machine Learning 

Artificial Intelligence is the study of how to train computers so that they can accomplish things that the most evolved species of our time, human beings, cannot. An application of AI, Machine Learning provides system with the ability to automatically learn and improve from experience. It’s all very Black Mirror, and it’s happening right now. 

Expected income: The median salary of AI professionals in India is Rs 14.3 lakh across all experience levels.

Experiential Marketing 

Another new-age marketing job, this involves directly engaging with your consumers, inviting and encouraging them to participate in the evolution of a brand or brand experience. The ability to think out-of-the-box, adapt to changing market scenarios and learn from your mistakes (and consumer feedback) are crucial to success as an experiential marketer.

Expected income: One can expect a salary that ranges anywhere between Rs 40,000 and 1,00,000

Mental Health Coach 

Given India’s mental health epidemic, there’s never been a greater need for young, driven and compassionate individuals to join the workforce as mental health care professionals – from therapists to coaches. If you’re not familiar with it, mental health coaching helps clients envision life without depression or any other obstacles on the path to emotional well-being. It is a niche within the coaching field which touches on therapy, but it does not work with or attempt to treat mental illness. 

Expected income: Mental health coaches take home a salary that ranges between Rs 10 lakhs to 15 lakhs.

Ethical Hacking 

Often organisations employ ethical hackers who specialise in penetration testing and other testing methodologies that ensures the security of their information systems. After all, prevention is better than cure. 

Expected income: The average salary of a certified ethical hacker is around Rs 3.5 lakhs and can increase with experience.

Graphic Designing 

Graphic designing is the craft of creating striking, stimulating visual content to communicate messages. Applying visual hierarchy and page layout techniques, graphic designers use typography and pictures to meet their client’s specific needs and focus on the logic of displaying elements in interactive designs to optimise the user experience. Today, graphic designers are creating album art, websites and even branded clothing for brands that seek maximum visual impact. 

Expected income:The average pay for a graphic designer is around Rs 2 lakh per year, but this can vary drastically from person to person. 

Creative Writing

Creative writers, with a flair for words and an obsession with good grammar, use their imagination, creativity, and observation skills to tell a story or weave a compelling narrative. 

Expected income: Although the median salary for content writers in India is around Rs 2.5 lakhs per annum, actual pay varies according to different factors such as job location, company, experience, and niche.

App Developers  

App developers use programming to create softwares according to their client’s brief, that could be to built a networking app, a learning app, a music app and so on. 

Expected income: An entry-level android developer earns approximately Rs 3 lakh per year, whereas an app developer with significant experience could take home an average salary of Rs 5 lakh per month.

Fashion Stylist & Personal Shopper

Fashion stylists are the people working tirelessly behind-the-scenes to make cover stars, Bollywood celebrities and TV personalities look good. Personal shoppers of the rich and famous, on the other hand, assess a client’s style so they can personally curate each item in their wardrobe. 

Expected income: A fashion stylist earns an average salary of Rs 4,40,000 per annum.

Video Game Designer

Don’t just play video games, make them! Video game designers characters and the flow of the game, to make them as appealing to customers as possible. The job requires boundless creativity as well as sophisticated knowledge of software coding. 

Expected income: In India, joining salaries are around Rs  4 lakhs per annum for programmers and designers and Rs 3 lakhs for graphic artists and game developers.

Professional Gamer

A pro gamer is a full-time competitive player who is paid to play video games – yep, you heard that right! You can finally tell your mom that Halo is serious business. Most pro gamers are normally paid by their teams or sponsors to play and compete in gaming tournaments around the world.

Expected income: Still in a nascent stage in India, professional gaming can fetch you around Rs 50,000-1,00,000 if you are backed by good sponsors. Apart from the prize money, that is. 

Food Stylist 

Food stylists are responsible making, well, food look really, really appetising on camera, typically for posters, ad shoots, videos and even Instagram. Most food stylists work on a freelance basis, making it another great job for those who can’t stomach the thought of conventional desk jobs. 

Expected income: Typically food stylists can earn between Rs 30,000 to Rs 35,000 per month, but this varies based on the stylist’s experience level and nature of project(s). 

VFX Artists

A trickle-down trend that’s slowly making its way to India after firmly establishing itself as a technically-advanced job overseas, VFX is now being used in more and more Bollywood and Tollywood films. Think Ra.One,  Baahubali or even something like Shandaar. And the people behind all the magic? VFX artists that create these animations and special effects for movies, television shows, or video games.

Expected income: The salary of VFX artists starts at around Rs 3 lakhs per annum and can go up to Rs 10 lakhs per annum. 

 

Everything you need to know about a career in Sports Management

A career in sport is no longer limited to playing; the industry is interdisciplinary and has segments like sport media, team administration, sports medicine, and sports management—perfect for those who have an administrative bent of mind and good managerial skills.

This is the business and applications side, or the driving force, of the sports industry. Sports managers call the shots and work tirelessly with colleges, universities, clubs, recreational departments and sports marketing firms, behind-the-scenes, to handle retailing, branding, merchandising, financing and marketing. They can be sports administrators, event managers, facility managers, sports economists or information experts.

 

Starting out

It’s not necessary to be an athlete or sportsperson to build a successful career in sports management. If you are passionate about sports and have a large knowledge base, that’s a good starting point.

This role requires a combination of multiple skills like planning, directing, controlling, organizing, budgeting, leading and evaluating a sports event.

If you’re thinking about pursuing a career in this field, opting for commerce stream in high school is advised; subjects like Business Studies, Economics and Accounts help build a strong foundation for further study.

Speaking of which, here are the colleges in India that offer courses in Sports Management:

  • National Academy of Sports Management, Mumbai – BBA in Sports Management
  • George College, Kolkata, West Bengal – BA in Sports Management
  • Maulana Abdul Kalam Azad University of Technology, West Bengal – BA in Sports Management
  • International Institute of Sports Management (IISM), Mumbai – BA in Sports Management

 

These courses cover subjects like sports management theory, sports marketing, fundraising, promotions, public relations, ethics in sports management, legal aspects of the sport, facility planning and management and risk management.

The Scope of Sports Management

It’s a good time to be thinking about a career in this field; globally, the sports sector is estimated to be worth $460-620 billion.With the advent of sports leagues, like the Indian Premier League, Hockey Premier League, Pro Kabaddi, Indian Super League, the sports industry in India is flourishing. And the market is only set to grow from here on—courtesy a growing economy and a huge passion for sport.Consequently, the need for trained, skilled and passionate sports managers is also only going to increase.

Also read: Interesting Career Opportunities in Photography

Valuable lessons India can learn from Finland’s education system

In a bid to make school syllabus more relevant for younger generations, the Department of Education has rejigged India’s education system by revising many key policies over the last decade. For instance, in 2016, the Ministry of Human Resource Development rectified a mandatory provision of the Right to Education Act from automatic promotion of all students till grade 8, to performance-based promotion. This means that it is mandatory for all students between class 5 and 8 to pass their exams in order to be promoted to the next grade.

In addition, the Delhi government introduced a new‘happiness curriculum’in almost 1,000 state-run schools. Introduced in 2018, this curriculum which includes meditation, value education and mental exercise is to be taught to all children between nursery and class 8. In the same year, it also allocated 26% of its annual budget to education—much higher than cities like Mumbai, Chennai and Bengaluru.

While these changes are significant, there’s still a long way to go before we can boast of a truly holistic and experience-first education system. Not unlike Finland’s.

What makes Finland so special?

The country’s progressive education system first made waves in 2001, when Finnish students ranked amongst the top five spots in the Program for International Student Assessment—a very prestigious international assessment of students. In this assessment, it was found that Finnish students had vastly superior reading, math and science literacy. As Finnish students started scoring better and better every year, educators, leaders and policy-makers began to study the country and its remarkably effective education system.

It was found that the transformation of the Finns’ education system began around 40 years ago as the key propellant of the country’s economic recovery plan. By the end of the ’60s, a new legislation and curriculum were created by merging academic grammar schools and work-oriented civic schools into a 9-year comprehensive school. These 9 years include 6 years of basic education and 3 years of lower secondary education. Other significant tenets of their system include:

  • Formal education begins at the age of 7; before that, children are encouraged to learn through play and movement.
  • The curriculum includes unusual subjects like ‘joy’ and ‘play’. Every Finnish school has a specially appointed welfare team to ensure every child’s happiness.
  • Education in Finland is considered a fundamental right; to ensure equal opportunities for all, no tuition fees are charged in Finnish schools. There are only a handful of private schools but even they are financed publicly, and cannot charge a tuition fee.
  • Fifteen minutes’ break time is scheduled into every class; students spend this break playing, while teachers can take a quick breather, or address specific concerns or special projects.
  • Finland doesn’t have a standardized assessment system, which allows teachers the freedom to structure their lessons their way, and evaluate the progress of their students using individual metrics.

 

As the famous saying goes, change is the only constant and it’s high time that we make an alteration in our education system to benefit coming generations for a more efficient and aware career path. Want to change your learning habits? Visit www.projectmynt.com today!

 

Also read: How experiential learning is the way forward in India?

 

Six things every teenager can do to build a successful career

The earlier you start, the better

School’s out and everyone’s asking you what’s next, but it’s completely okay to not know just yet. Allow yourself the opportunity to find what you truly love—the journey is half the fun! In the age of social media and the Internet, you can deep dive into all the available information to see what works for you. From knowledge of up-and-coming careers to success stories that inspire, it’s all just a click away. However, it’s important to ensure this access doesn’t breed insecurities about your own future. Instead, sift through all the material in an organised manner, and start planning your journey methodically.

Here are six things to remember that will help you along the path to a successful and fulfilling career:

  1. Use time to your advantage: Don’t let a ticking clock stress you out. If you’re thinking about your career and are evaluating different avenues, you already have a head start. Instead, capitalize on this advantage by focusing your energies on growing your mind.
  2. Make the most of what you have: Use the tools at your disposal, like books, videos or podcasts, to expand your knowledge base. Rather than worrying about what you don’t have, turn your attention to what you do.
  3. Prioritize: The goal, as tempting as it may be, should not be to make money or become famous. Those are by-products of being good at something, and working hard at it—day in and day out. Find what you love, follow your passion, and strive for excellency; the rest will follow.
  4. Don’t stop exploring: The more you learn, the more you’re going to understand yourself as an individual, and the easier it will be to zero in on your calling.
  5. If you know, you know: Once you have a sense of where your interest lies, get moving! Identify the resources that you can tap into to start specializing. Remember, being 60% certain is good enough; there’s nothing like 100% clarity and trying to achieve that is a waste of time.
  6. Hands-on experience is invaluable: By taking up internships and trainee assignments, you will get a clearer sense of what a career in your field looks like. Instead of procrastinating and getting caught up in the theory of things, jump in the deep end and start working. You’ll be amazed at how much you can learn, just by showing up to work.

 

Also read: Is Alternative Education your ‘Next Thing’?

5 ways to Change your Passion into a Successful Career

“Discover your Passion.” “Follow your Heart.” “Make your Passion your Paycheck”

We all must have heard these bits of advice every now and then from super-successful people in various talks and speeches. And although it sounds very easy, it isn’t. Finding your passion seems like a mystery and we all search for the key to solve this mystery. It is said that your passion can take you places. We at Mynt believe that it takes to place where you should really be. As India’s First Experiential Learning Platform, we believe that you can do everything as long as you have the passion, determination, motivation, support, guidance and right direction.

The problem with finding a passion especially at a younger age, when you have limitless choices for what to do, which vocations to choose that could become your passion etc. can sometimes put you in a fix! You may ask yourself the right questions. You may think about what you love more. But still won’t be sure what your true passion is. Well, the solution is here  – we help you in deciphering the right road map for your career.

Now that you have successfully graduated from your school or college, it’s a high time to move on and to make wise choices with regard to what you really want for your lives. In order to fast-track your careers, you need to be ‘First time Right’ as you make decisions and choose your options. To help you make the right decision and find your ‘Next Thing’, we bring you first-hand experience of the ‘next-generation’ careers that will take over the world tomorrow. Our aim is to empower students with experiential learning and all the essential knowledge they require before selecting one of these ‘next-generation’ careers. Take a look at a few of them:  

Entrepreneurship

“It’s not about ideas. It’s about making ideas happen” and only those who dare to follow their passion make them happen. There are thousands of people who dream about starting their business but there are only a few who actually become entrepreneurs. So, if you desire to be your own boss and have better control, have the enthusiasm to take risks in the changing global environment, aim to develop and implement a plan right from the ground level, then this course is definitely for you!

Our entrepreneurship capsule is designed with the aim to provide you an insight into the ecosystem of start-ups, to develop the entrepreneurial spirit of solving real-world problems and make better-informed key decisions. Come and explore more!

 

Photography

Well, maybe you’re just inquisitive about photography or perhaps you do it as a hobby but aren’t sure whether you should really dive into it. Photography may be a passion for many but there are only a few who actually make it their career. Just like many other students, you must be in a dilemma whether to make photography as your ‘next thing’ or not? But, we assure you that after joining our capsule course you will keep your doubts aside and will get convinced that photography is an amazing skill to develop.

So, if you are passionate about freezing moments that will be cherished for generations or want to make your photographs popular on Instagram, then this course is for you!

Photography

Filmmaking

Lights, Camera, Action!

If you’re an artistic soul who dreams of making their own silver-screen sensation, then probably you don’t need many reasons as to why you should turn your passion into a career. The global film industry has enlarged with the increasing popularity of Netflix, Amazon Prime, etc. This has led to an increase in the demand of aspiring directors, cinematographers, and other filmmaking professionals. At Mynt, we introduce you to the vast world of filmmaking and cinema, enabling you to think like a filmmaker and make better-informed key decisions regarding further exploration in the field. So, join us to let your ideas come to life.

Filmmaking

Electronic Music Production

Are you passionate about music and want to make people groove on your tracks but not sure whether music production is your calling in life? Don’t worry, take our Electronic Music Production Capsule and gain a clear idea about your future as a musician.

Set yourself apart from the crowd, by discovering and bringing out your creativity and artistic vision and understand the art of music production from India’s favourite music ensembles.

Internet of Things

Technology is here to stay! We all utilize it in our day to day life whether it is banking, shopping, or offices – have you ever calculate how many times a day do you use google? The Internet has today become an essential part of our life and from smart home devices to self-driven cars, IoT has created a giant network connecting all devices together. So, if you are a cybernaut who is in love with technology and want to discover its possibilities and abilities, then this course is for you! Explore the opportunities and gain insights into the vast world of “Internet of Things” from industry experts and make that right decision in your life.

If you’re having a tough time deciding what to choose as a career option, how to pursue your passion or how to change a passion into a successful career, then we are here to help you!

Come and be a part of India’s first experiential learning platform and give your future the right direction. Identify your calling and make it your career by getting the right supervision from experts.

If you have missed our last session, here’s another chance for you! Enroll for our June’19 session and explore some unconventional career paths with our immersive capsules. For more info, visit our website: www.projectmynt.com

All you need to know about Project Mynt

Education is the essence of every individual. Every person in this world deserves to be educated, though its meaning or perspective might differ.

Understanding the education and skill gap

The current education system in India suffers from some serious gaps. Many people prefer good marks or grades over being knowledgeable. Some more issues that are impacting students these days are –

>> Lack of encouragement to think out of the box
>> Outdated curriculum
>> Absence of experiential learning

The Indian education system focuses so much on rote-learning and the rat race philosophy that we fail to give our kids an avenue to explore, learn and express who they are and what they want to do.

Also Read: Confused about your career? 5 steps to help you make the right choice.

Are we preparing students for employment?

Now that’s one essential question we should be asking ourselves as educators. The substandard quality of education has its fall out wherein those graduating struggle to find work. The results of assessment across the country on skills sets like communication, numerical and logical ability and domain knowledge indicate a very inadequate state of affairs. Owing to the deficient quality of education at home, Indian students now spend no less than $7000 million to go abroad and study in foreign universities. They eventually stay back in that country and ultimately become NRIs.

This gap in the education space resulted in the existence of Project Mynt  My Next Thing which is founded by 3 bright and creative minds: Ankur Kampani, Srijan Mahajan and Aayush Narang. The three founders have closely experienced the struggles associated with breaking stereotypes and thinking out of the box. The existence of Project Mynt is to serve as a bridge to help the student identify if their “Next Thing” is a hobby or a career.

How does Mynt solve this gap?

Project Mynt aims towards evolving the current education ecosystem by making practical knowledge and interest levels as major contributors to one’s career choice. It strives to provide the greatest “value-add” to students with real-world knowledge and experience to help them make better career choices.

Mynt intents to give a real-life experience to students on what a career actually entails. And that’s what makes it special and essential. It provides an insight into careers that are going to take over the world in future and for which there is currently limited infrastructure or space in our education program.

Courses that are designed to help you succeed

The list of courses that we provide are all unconventional streams which are great career aspects but due to lack of proper knowledge, students tend to brush them aside. The curriculums for these courses have been designed by the industry experts and will also be facilitated by the experts who have themselves taken the similar path.

Such courses are important to ensure that students deep dive into the curriculum, have the practical essence, and get to motivate and inspire themselves to seek their career paths more confidently as well as consciously.

In a nutshell, Project Mynt is all about providing a conducive environment that supports our constant pursuit of knowledge and development. It is a movement for the betterment and awareness of students. Know more about this wonderful initiative here!

How experiential learning is the way forward in India

As a school kid, most of us used to wait for lab sessions to attend practicals – Chemistry, Biology, Computer, etc. Didn’t we? But why were practicals so much fun? Was it the LIVE experience that made them interesting or the unique methodology that helped us remember all the points for longer?

Here’s a fun fact. Hermann Ebbinghaus formulated the ‘Forgetting Curve’ more than a hundred years ago which explains the decline of memory retention and how information is lost over a period of time when there is no attempt to retain it. Experiencing things in the real-world can help us retain a lot more, a lot faster. Lectures help, but one needs practical knowledge to understand, grow, and excel. Thus, it’s time you make the most of experiential learning.

Also read: All you need to know about Project MyNT

IT’S ALL ABOUT GETTING REALITY CHECKS!

Experiential learning is the process of learning through experience and is more specifically defined as learning through reflection on doing.

Education theorist David A. Kolb’s experiential learning style theory is typically represented by a four-stage learning cycle in which the learner ‘touches all the bases’:

1. Concrete Experience
2. Reflective Observation of the new experience
3. Abstract Conceptualization
4. Active Experimentation

EXPERIENTIAL LEARNING IS THE FUTURE OF LEARNING.

Experiential learning allows students to:
> Develop critical-thinking, problem-solving, and decision-making skills
> Build an emotional connection with the subject
> Leverage real examples for inspiration
> Enhance their experiences to be shared with others

Indian education system needs to evolve and become more experiential where students get an opportunity to go out and explore the real world to gain first-hand knowledge. This will further inspire them to pursue what appeals to them the most. An expert or mentor can guide students to bridge the gap between theoretical and practical learning. This will also help in brushing up their skills with a better understanding of how to act in a particular environment.

Parents must realise that kids need to cope up with today’s fast moving world by making them familiar with the modern ways of learning. Thanks to digital tools and technologies, students can now close the job skill gap in a true sense. Smart classes with projectors, personalized and project-based training, industry visits, etc are some of the methods parents should look forward to for their kids’ personal development.

GET INSPIRED AND GET GOING BECAUSE NOW IS THE TIME!

The skills we need to work today are changing at such a great pace that no system can keep up with them without constant evolution. With competition growing incessantly in the global economy, we must look forward to shifting the discourse from learning new skills to enabling the processes that create these skills.

We, at Project MyNT – My Next Thing, are working towards redefining the methods of learning by providing practical knowledge to students who enrol in our courses. A strong curriculum including sessions by experts and internships will help students figure out the right career opportunities amidst all the confusion and uncertainty.

MyNT aims to give students an insight into careers that are going to take over the world tomorrow and for which there is currently no infrastructure or space in our education program. Enrol here.

5 habits that will assure your child’s financial success in future

Are you a parent who’s concerned about your child’s future? Constantly find yourself thinking about if they’ll have a successful career later in life?

Well, guess what – it doesn’t really matter what they choose as long as their understanding of the real world is early and they progress to make more controlled decisions every day.

As an adult, we understand that authority is everything. Be it an investment or a drive on a sunny day over the highway,  as long as we’re in control – we’re happy. I don’t know how many of you look at it like this, but Happiness is the key asset that we chase throughout our lives. It’s bigger than a fancy house or the sports car around the next block.

Also read: Confused about your career? 5 steps to help you make the right choice!

But in order to do this for our children, how can we talk to our them about value investing? Talking to your child today about money investing may not interest them. And if you’re planning to put a few hundred dollars into a trading account just to teach them – that’s worse. If they lose the money, they’ll unconsciously switch off this mode of investment, on the other hand, if they end up making some profits – they’ll try to make bigger bets – which will more certainly convert into a bigger problem. So how are we supposed to bring them up to speed with the financial competition of the real world?

Here’s how,

Use real-life examples to teach them time value of money.

Sow a seed with your child and let that blossom into a plant and then a tree full of fruits. Show them how a few months of care has helped in them relishing the fruit today. To understand that the journey contributes to creating the result is very important.

Tell them about companies wherever possible.

The best time is when your child pushes you to buy her/him something. Talk about the utility of the product, and also about its origin. So the next time that chocolate bar or soda you buy they get to understand about companies like Hershey’s and Coca-Cola, where they come from and where they are today.

Start investing for them. Teach them at the right time.

While I mentioned that a real money game at a very early age can result in demotivation or real betting traits, you can instead create a budget with life goals of your child – gauge when is the time to tell them about it and make them learn how you perform actions. Start as early as you can.

Say you’re envisaging higher education for your child 20 years down the line –  what do you do? Align your financial goals and start saving today! As and when your child is 15, it’s time to reveal what you’re saving for them. At that age, children take interest and are highly motivated to become a part of the working group of the world.

Once they understand planning, give them a budget to save and invest.

Once they’ve understood how you plan for your own life goals to achieve them, they can do the same. They can actually orchestrate their life according to their financial goals, the way they want to.

If you invest INR 1000 every month, you can accumulate INR 1,00,00,000 when you’re 40. This definitely interests your 16-17 year old. (25 years of 25% returns in a growth MF)

Let them make mistakes. But make sure you give them the lessons around it.

Making mistakes, taking chances and failing are paramount for anybody’s learning experience. Once you feel that your child is ready to face the world, always encourage them to take chances, even if at the cost of making mistakes. Don’t protect your child, rather making them immune to such failures and help them focus on the learnings they get instead of the outcome.

By taking these simple steps, you can almost ascertain that your child will achieve in life what you may/may not have. Start today, give it your time and persistence. 

All the best!