Part 5: Process or How the heck do I Invest in Equity Successfully?

5.1 Process-The essential ingredient to achieve great success

What is Process and why is it critically important for investing successfully? Why do people fail to get results from recipes and process? What is required to overcome these challenges? In investing there is a phase-lag between action and results, so how do you know if the Process is right?   
Greatness is all about size -magnitude, enormity, vastness and stuff like that. When something is way bigger than the ordinary, it becomes extraordinary or simply great. So, when someone’s ability to perform, say as an artist, is way larger than most others he or she is a great artist or whatever.
Great artists deliver extraordinary performances every time, it’s how they do their thing, it’s not a flash in the pan. But to reach there, they have done thousands of hours of practice or Riyaz – systematic practice of the art usually under the guidance of a master. 
But we use the word great quite casually, to describe anything that is either unexpected or just above average-Tussi great ho ji. 
This hits me hard every time I interview people for any job.  And every time I want to eat a vadapav, idli-sambhar, biryani or prawn-curry rice or want to drink a good south-indian coffee or a lassi. Why are there no global, forget global, a pan-India, pan-state or even pan-city brands like McDonalds, Starbucks for these products? The answer is that we are unable to recreate the same product, the same taste, the same experience in more than one place. 
Most can’t even create this even in the one place they operate. Why? “The cook is not in today, he has gone to his village”. I don’t get it, but everyone does and sympathize with the restaurant owner’s predicament. 
What I do get is that this restaurant neither trains its staff nor does it have a process to ensure they can deliver things consistently. Actually, if they had a process, they could have probably had trained staff who would deliver me...........Read More

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