Success is not just measure in money, but your quality work and your business ethics lead to stand out in your business which replenish a satisfaction and success in your life, Nitish Lalchandani , a Director of M/S Swanky & Associates and by Profession a Chartered Accountant leading a life of true ethical value with great success in his profession.
MUDRA COMPASS (M): Briefly describe your nature of work, experience and presence.
NITISH LALCHANDANI (NL): I am a chartered accountant at Kanpur and Gorakhpur with more than 10 years of experience in the field of book keeping, audit, taxation, valuation, credit evaluation, system development, project development, accounting and financing.
M: What encouraged you to start your business/profession?
NL: I always wanted to utilize my professional skill for myself.
M: Whom do you consider as your inspiration/idol professionally and why?
NL: Basically I believe in myself because whatever I have learned in phased manner through my professional career, I love being a team leader, I personally follow and observe the way M.S. Dhoni, our former Indian Cricket team captain, the way he takes decisions and the way he leads the team inspires me to be a Team Leader.
M: What type of struggles/problems did you face as an entrepreneur? What has been your learning from them and how did you overcome them? Anything from your personal life that may have impacted you professionally?
NL: When you face struggles or challenges then only you can get to know the profession or life in a better way. Certainly there are some challenges I have in my profession.
1. Generating verified leads and further materializing that.
2. Being a good team leader is very difficult when you have to manage people with different IQs, and bring them on the same platform.
3. Many times your competitors do the work on undercutting fees and which ultimately leads to compromise on quality, explaining these things to clients has become a real kind of struggle.
M: What were the essentials needed to start your business or pursue your profession?
NL: From my point of view and experience one certain essentials to start the profession which
I am currently into.
1. Proper knowledge on subjects.
2. Rigorous practical training before entering into the market.
3. Generating sources which can provide verified leads.
4. A proper office for walk-in clients.
M: How did you identify the opportunity in the market?
NL: There was a lack of professionals who can provide proper financial planning to the businesses. All the businesses majorly in the market were working on traditional approaches towards financial planning, and also there was not very vast awareness in the market regarding bookkeeping which I think turned out to be an opportunity for me.
M: What makes you unique as an entrepreneur? Anything from your personality that has helped you professionally?
NL: I believe my brief and practical knowledge on the subject and my soft skill are things which make me unique as an entrepreneur.
M: What has been your learning from entrepreneurship/ your profession?
NL: We should not compromise on our quality for money, once you build an organization which is trusted for quality, money will follow you.
M: Any advice to anyone starting up or budding/aspiring entrepreneurs?
NL: Being in this field whatever I have learned, the gist of that I am sharing here for aspiring entrepreneurs, especially to those who want to dig their feet in to Chartered Accountancy.
1. Always do proper R&D on subjects before entering into the market.
2. Don’t compromise quality of work for money.
3. Treat yourself as your competitor.
4. Always follow code of conduct and business ethics.
M: Any Association with Organization (Any Chamber of Commerce).
NL: Life time Member of
1. Kanpur Chartered Accountants Society
2. Kanpur Income Tax Bar Association
M: Any Message for Society.
NL: During this time of Pandemic on outbreak of CoronaVirus, we have seen multiple personalities of people in society out of the primarily there were these 3 kind of people,
1. Some were working for others without expecting any kind of consideration from anyone
2. Some were just doing nothing from there end but were extending financial support to NGOs and Government; and
3. Some were allegedly involved in black marketing of essentials and lifesaving drugs and equipment.
I would just like to say that never be the 3rd type of personality as mentioned above, It is very much OK if you can’t become the First or Second type of person but NEVER be the third one as what goes around comes back.
M: Any Suggestions for Government.
NL: Looking at the current scenario, I would just want the government to work on Health Infrastructure of the Country and build more and more R&D centers so that we can fight during this kind of pandemic.
We should not compromise on our quality for money, once you build an organization which is trusted for quality, money will follow you.
