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The Four Business Tools That I Absolutely Cannot Live Without by Dr. Sanjay K. Patel, MD

  • Posted by: Sanjay Patel
  • 06th Jun 2016

The tools that we use to do business today are far more complex than they were a few short years ago. Before the internet, computers, smartphones, apps and all the other modern gadgets, people met in person, spoke over the phone and sent correspondence through the mail. While those things still happen, we’re more dependent on technology now than we ever have been. Like most of you, I spend a great deal of time checking my emails, responding to texts and sitting in front of my computer. Of all the tools that I use on a daily basis, though, my favorites are spreadsheets.

Computers and the Internet

Years ago, we didn’t have the internet or the fast computers we have today. For the younger generation, it’s probably impossible to imagine how we got anything done at all. Admittedly, everything took a little longer, but we still managed. Computers certainly do make it faster and easier to write up business plans and create agreements. It’s an efficient way to communicate with staff and interact with investors. We can meet with colleagues and investors in a virtual boardroom, reducing the need to travel huge distances. In all reality, it would be impossible to accomplish everything in the same amount of time without computers and the internet.

Smartphones

I can remember a time when telephones were only in the office and at home. If you needed to make a call while you were out, you would have to drive around to find a pay phone, pop some change in and call. The funny thing is, those phones were only able to make and receive telephone calls. There was no texting, no video chat, no playing games or surfing the internet, we just had conversations. I admit, I’m continually checking my smartphone, keeping up with emails, answering texts and keeping up with current events. Like most everyone else, I don’t quite know how I would be able to stay on top of everything without my trusty smartphone by my side. It’s not just a tool, it’s an essential tool.

Spreadsheets

This is going to sound a little strange, but one of my all-time favorite business tools is the lowly spreadsheet. It’s not a glamorous technology with all kinds of bells and whistles, but it is, by far one of the most valuable tools in my arsenal. The managing directors here at Chalak Mitra Group of Companies will attest to the fact that I use them for everything. What I love about spreadsheets is that I enter data, and with a few instructions, it will neatly organize everything into categories that can be evaluated on their own, and in relation to one another. For me, anyway, it’s the easiest way to condense great volumes of information into bite size pieces that I can digest and share with others.

Social Skills

Despite our obvious need for computers, and smartphones, it is also vitally important that we communicate with one another face-to-face. No amount of emailing, or texting can replace that kind of human connection. I strive to be a kind, considerate person, that is genuinely concerned with the well-being of others. It’s vitally important to listen to others, to understand what it is that they need and want out of our interaction. In the case of an investor, I have to learn what their investment goal is, and how they wish to achieve it. My advice to anyone reading this is; polish your social skills, learn to be a good listener, speak with conviction and always stay true to your word.

The tools that I find most valuable in my work as one of the Managing Directors of Chalak Mitra Group of Companies aren’t exotic, just about everyone uses them. The truth is, you can find a great deal of success, if you properly use the tools that you have at your disposal. Spend meaningful time on your computer, doing research or learning about your industry. Use your smartphone to stay connected to colleagues and partners, but make it a point to connect in person as often as possible. Most of all, never stop working on improving yourself and your own skills.

Dr. Sanjay K. Patel, MD