Virendra Ranawat hails from an entrepreneur background with multiple ventures. Virendra is a B.techgrad further holding an MBA in Marketing & International Business & MDP from XLRI, Jamshedpur. He has a business experience of working with companies like Metso& Tata for more than eight years. His core expertise lies in project management, business development, and finance.His latest venture, MySipOnline, is an online mutual fund distribution house that technologically is leveraging the mutual fund investment services.
Please provide a brief overview of your product/ service.
Mysiponline is an AMFI registered online mutual fund distribution house. We have a wide range of investment plans & solutions for corporates and individual investors as per their requirement & risk profile. We provide online mutual fund investment solutions with the facility of customized portfolio especially designed for goal-oriented customers. Our SIP schemes require a negligible amount of paperwork and are tech friendly.
What inspired you to build the above product/ service?
We went through a chain of problems and our research highlighted the ongoing issues customers were facing in the offline model. For instant mutual fund advisors or agents usually trick people into buying those schemes, which provide greater incentives, rather than being appropriate for the client. This motivated us to launch a platform with 100% transparency, which enables you to pick a scheme that coincides with your financial goals.
What is your life mantra?
It’s quite simple, which is being the goal, oriented. I love to resolve any issue that comes my way it keeps me motivated and teaches me how to go ahead in life!
What was the most challenging part of your journey till now?
Challenges are part of every journey, and since challenges make you strong, and we try and welcome as many as possible. Since its just been seven months of our launch with a very small team making a presence in the market has been a major challenge however we are doing well on our part & results are taking shape gradually.
How did you overcome those challenges?
Educating the potential crowd with that required knowledge digitally is how we are making our presence count.
Share some details about the investments that you have been able to fetch for the business till now.
We are currently in talking terms with a couple of the investors however not very certain on when we are closing our seed round of funding. There will be updates once any thing is final.
How do you protect yourself from the problem of Brain Drain?
Since it is a very small team with our start, we ensure members keep a thought of clear understanding amongst themselves. Idea sharing is very important to grow and we make sure to maintain this culture.
According to you, what are the three qualities an individual must have to achieve success?
Three qualities a person should process to achieve success should be
1) Work smart and not hard
2) Maintain a high tolerance level
3) Be Creative as much as possible
Which online tools/ services/ apps do you use the most and would like to recommend as well?
Apps we usually spend some time on are – Google Analytics since you get a better idea of your website current traction and the end to end possible details. More than emails we try scheduling meetings on Google Calendar, which is a very optimized way of organizing weekly meetings.
Share any one habit which you think makes you more productive.
My day starts with a list of tasks that I need to work upon, and I make sure I don’t overlap them for the upcoming day.
Share any one habit which you wish to change in yourself.
I think I need to slow down a little since I’m very aggressive I always try everyone around me should also possess the same pace for work.
Answer in less than 50 words
- One mistake you believe every individual must avoid
Don’t be judgmental
- One most important lesson that you have learnt till now
Be goal oriented it makes every stage of your business easy.
What are your plans for next 3 years?
We are not making any long term plans as of now, its just start of the business ,what is critical is to work on our short terms goals and this involves aggressive PR activities and educating users deeply about our portal.
If you get a chance to start your career again what would you do differently this time?
You should always do the best possible in everything that you take forward because if this thought pops your mind to do everything all over again, it will never lead to success and the reason I never look towards a second chance.
What are your top three getaway destinations?
London, Ibiza, and Vegas
Share a quote that inspires you the most.
“The greatest pleasure in life is doing what people say you cannot do.”