Two-minute noodles Maggi is very popular among everyone today. Know the full story of how Maggi came into being and how it is a big brand now

Everyone is familiar with Maggi, a ready in 2 minutes noodles. Maggi is extremely popular among children as well as the elderly. However, very few people are aware of when and where Maggi was first made? Who gave Maggi, the two-minute noodles tag? Why was it not banned even after all the controversies? How does Maggi continue to be the choice of millions of hearts even today? Know the full story behind Maggi here.

Julius Maggi, from Switzerland, named the company Maggi in 1872. Experts point out that it was a period of the industrial revolution in Switzerland. At that time, women had to go home and cook after working long hours in factories. In such a difficult time, the Swiss Public Welfare Society had taken the help of Julius Maggie, and Maggi noodles were born under compulsion. In the meantime, Julius named the product after her surname. His full name was Julius Michael Johannes Maggi. In the year 1897, Maggi noodles were first introduced in Germany.

Initially, Julius made a protein-rich food and readymade soup. His physician friend, Fridoline Schuler, helped him a lot, and Maggi, which was formed in two minutes and was very fond of it. By 1912, Maggi went to the United States and France. But this year, Julius Maggie passed away. Then came 1947, when Nestle bought Maggie and its branding and marketing drove Maggie to every home kitchen.

1. How Maggi got its name

Maggi’s entry into the Indian market has been 37 years. Maggi, who came to the market in 1984, would never have imagined herself would get so much love. Nestle India Limited is the only company that brought it to India. Maggie, which is formed in minutes, is like everyone. In 1947, the brand Maggi was merged with Nestle, a Swiss company, which has been The Most Famous Brand of Maggi Nestle ever since. Nestle India spends nearly Rs 100 crore on advertising, with Maggi’s highest share. Maggi, one of India’s most valued brands, is an associate brand of Nestle, a well-known Swiss company, but most people consider Nestle to be the original brand.

2. Nestle’s association with Maggi

In 1947, Maggi merged with Swiss company Nestle. After that Nestle India Limited brought Maggi to India in 1984. At that time, no one thought that Maggi would become the choice of millions of people. But it happened. The idea and the product that was created in minutes were liked by everyone.

3. Choice of urban Indians

For the first time in the ’80s, Nestle launched noodles under the Maggi brand that had become the best snack option for urban people. In India, the company stepped into the market with noodles. Over time, people’s lifestyle began to change. After 1999, Maggi became the need for every home kitchen because it could be made in 2 minutes.

4. Other Maggi Products

Nestle also launched several other products under the Maggi brand. These include products like soups, roast masala, Maggi kappa mania instant noodles. In India, 90 per cent of Maggi products are specially designed with India’s diverse culture and are not available in the rest of the world. The Maggi brand has grown by nearly 25 per cent of Nestle group’s total profits in India and the annual figure has reached over Rs 1000 crore. Now half a dozen new brands have arrived in this market. Most of these retail chains have their brands.

Originally Published: DNA

The economic disruptions caused by the COVID-19-induced lockdowns led to widespread pay cuts, layoffs, liquidity constraints and non-repayment of debt obligations, adversely impacting the finances of a large section of our population. These disruptions re-affirmed the importance of following financial strategies crucial to maintaining long-term financial fitness. Those who followed these strategies were able to weather the pandemic-induced disruptions better than others who didn’t.

Factor in your loan obligations in your emergency fund

The income disruptions caused by the pandemic adversely impacted the debt servicing capacity of a large section of individual borrowers, leading them to opt for the moratorium on loans and credit cards announced by the RBI. As per the Financial Stability Report released by the RBI in July 2020, about 50 percent of the individual borrowers had availed the loan moratorium as on April 30, 2020.

The only way out to ensure debt servicing capacity during such unforeseen exigencies is to have an adequate emergency fund that also factors in the EMIs and other debt repayment obligations for at least six months. Those who had adequate emergency funds in place at the onset of the pandemic were better equipped to repay their credit card bills and EMIs despite income disruption, as compared to those who did not.

The emergency fund includes unavoidable expenses such as insurance premiums, home rent, monthly contributions towards crucial financial goals and utility bills of at least six months.

As financial exigencies come unannounced, park your emergency fund in instruments that allow instant withdrawals. Thus, park your emergency fund in high-yielding savings accounts offered by some private sector and small finance banks. Those comfortable with internet or mobile banking can also park their emergency funds in high yielding fixed deposits offered by these banks.

Continue your equity SIPs to make the most from market crashes

The global economic uncertainties and the imposition of national lockdown led the equity markets to go through steep correction during March and April this year. This caused returns from even SIPs of equity funds made in the past 3-4 years to turn deep red. Many investors decided to stop their equity SIPs, fearing further losses. However, continuing the SIPs during such market turbulence is crucial, as quality shares would be available at attractive valuations. Continued SIP contributions during bearish markets also benefit their subscribers through rupee cost averaging by purchasing more units at lower NAVs. This helps in further decreasing their average investment cost without resorting to any market timing.

As equity markets started to recover steadily from the lows from April and reached new highs in November, those who continued with their SIPs throughout the year bought units at lower NAVs, averaging their investment cost. They would thereby register higher returns than those who stopped their SIPs.

Top-up your equity MFs with lump-sum investments during bearish markets

Steep market corrections such as the one witnessed this year provide an excellent chance for wealth creation, as equities are available at attractive valuations during such market phases. Those with investible surpluses should exploit such opportunities by investing lump-sums to top-up their existing investments in a staggered manner as per their asset allocation strategy. Doing so not only allows you to reinstate your original asset mix but also helps in building a larger investment corpus, as and when the market rebounds. However, many investors failed to exploit this opportunity, fearing losses from a further market correction. Those who had the courage and wisdom to exploit the bearish market phase during March-April this year would be sitting with much higher returns as the equity market makes new highs.

However, avoid using your emergency funds or money set aside for short-term financial goals while topping up your equity investments during future market corrections. A financial emergency or the maturity of a short-term financial goal occurring during an extended bearish market might compel you to redeem your investments at a loss or seek loans at high-interest rates.

Always ensure adequate insurance cover

The COVID-19 pandemic also highlighted the importance of maintaining adequate health cover for self and the family. The increased cost of hospitalisation due to the pandemic showed how a single case of hospitalization can wipe off the life-long savings of many. Working individuals covered under their employer-provided group health policies should also buy separate health policies, as such group health covers are mostly inadequate to meet the rising healthcare cost. Moreover, such policies also lapse as soon as you change your job.

You should also purchase adequate term insurance, covering 10-15 times of your annual income. An adequate term policy will provide a replacement income to your dependents in the event of your unfortunate death. Those with existing term policies should increase the sum assured by purchasing fresh term policies as and when they experience a significant increase in their annual income.

Originally Published By: MoneyControl

The age-old debate of nature vs nurture has resurfaced following the publication of research that claims you are not born with an entrepreneurial gene that the secret lies in being immersed in an entrepreneurial culture from a young age. So does that mean the likes of Richard Branson, Steve Jobs and Bill Gates don’t have that entrepreneurial spirit locked into their DNA?

The study, by Vistaprint and OnePoll, looked at 500 small-business leaders (those with fewer than 50 employees) aged 18+. It discovered that there are three decisive factors in becoming an entrepreneur, all of which are intuitive:

• Your education
• Your early career
• Your life experiences

The study also recognises a requirement to have three personality traits:

Independent

Trustworthy

Hard-working

Money isn’t a motivator

Interestingly, despite what many people believe, becoming rich is a relatively poor motivator for being an entrepreneur — fewer than 25 per cent of the entrepreneurs who were researched mentioned money as a motivating factor. A far more important factor was the “desire to be their boss,” which was cited by 56 per cent of respondents.

Autonomy (46 per cent), freedom (45 per cent), and being in total control of your work (41 per cent) also featured highly on the survey.

What does this mean for you?

So, are all entrepreneurs the same? The reality is that they are not – aspects such as your Country of birth, culture and socioeconomic status all have a huge bearing on your access to entrepreneurship.

However, there are many similar traits for entrepreneurs: 45 per cent like to learn, 45 per cent believe they are curious, 44 per cent are reliable, 42 per cent are determined and 40 per cent are passionate.

It also appears there are some age differences. One in particular might surprise you. You might expect that younger entrepreneurs are more likely to take a risk, whereas a Boomer or Gen-Xer would be much less likely. According to the research, that isn’t the case. Forty-one percent of people 55-plus claim that they can and will take a risk, versus 25 percent of those under 34.

Pure luck?

Is there an element of pure luck when entrepreneurs become successful? Not according to the surveyed respondents, who believe that less than 25 percent of success is attributable to chance. As one of the researchers writes, “Entrepreneurs are well aware that luck, in the true sense of the word, is not enough to succeed in the long run. On the other hand, it may be possible to “provoke one’s luck” by developing one’s network, staying abreast of one’s environment and opportunities, and giving oneself the means to seize them.”

According to serial entrepreneur Gary Vaynerchuk, this is all nonsense. In his opinion: “The fact is this: entrepreneurs are born, not made. Of course, anyone can maximize any skill-set, but it doesn’t necessarily make them successful at it. I could maximize my singing with vocal lessons, but I’ll still always just be a mediocre singer. To win at the very top of the chain, to make it big in the business world and any arena, you have to be born with talent.”

So what do you think? What makes some people employees and other entrepreneurs? I’m not convinced that the success of entrepreneurs is entirely down to what you learn. There must be an innate element that plays a significant role and it’s a blend of nature and nurture that creates an entrepreneur. Like the old expression goes “genes load the gun but the environment pulls the trigger”.

A business thrives when the environment around us thrives, I firmly believe in this statement. If I were an entrepreneur, I would be highly concerned about the impact my business has on the Earth, and therefore ensure that my carbon footprints are always low.

Currently, climate changes have been rampant, and it could only get worse therefore as a responsible citizen I want my customers, suppliers and especially my organization to practice green habits. In the following points, I shall list these ways and steps I as an individual would take.

1. Invest in Renewable Energy Sources.
2. Instead of using traditional electricity, I would invest in solar panels and use solar energy to power my machines and equipment.
3. Reduce, Reuse and Recycle. Buying refurbished phones or IT equipment and recycled paper is a great way to reduce your carbon emissions.
4. Reducing my emissions from air travel and road travel. Choosing popular software programmes such as Zoom or Skype instead of travelling often, or using vehicles that are more fuel-efficient or alternatively fuelled vehicles such as alternative fuel or electric vehicles.
5. Increasing the efficiency of my office lighting. Changing lighting across a building to more energy-efficient options such as LED can make a big difference and is a quick win with long-lasting effects.
6. Where possible ensure that natural light is used when adequate, many offices are artificially lit unnecessarily.
7. Reduce energy usage in your data centre and comms room.
8. Minimise single-use plastic.
9. Minimise emissions from food and food waste.
10. Print as minimally as possible.
11. Get green web hosting. You can do your part to reduce your carbon footprint by choosing green web hosting. By choosing green web hosting, you can ensure that the energy that powers your website comes from a renewable energy source.

If you are looking for traditional, actionable and effective financial wisdom; then this book is perfect for you.

The author shares invaluable lessons from the point of view of a very rich man named Arkad. Babylon was the wealthiest city in the ancient world and Arkad was the richest man living in that city.

Arkad shares his secrets of becoming the richest man and how others can achieve the same prosperity. He shares financial advice in an easy to understand and implementable manner. His major lessons like – ‘Seven Cures for a Lean Purse’ & ‘The Five Laws of Gold’ are worth to take notes from and apply immediately.

This book serves as a guide to financial education for many generations to come.

Rating

4.2/5