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  • Business Development Yuva ki Pathshala: Young MFDs share crucial business lessons learnt

    Yuva ki Pathshala: Young MFDs share crucial business lessons learnt

    Read on to know which business lessons inspire young MFDs to work harder and achieve newer heights.
    Karishma Gagwani Dec 10, 2023

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    Going by the renowned proverbial phrase, ‘Experience is the best teacher’, young MFDs share with us one solid learning that they learnt from their experience. This crucial business lesson not only inspires them to work harder but also keeps them motivated to reach newer heights. 

    Create the pull effect rather than being pushy - A G V Srinath Vijay, Tamil Nadu, 25 years old 

    I am a second-generation distributor working with my father. I have learnt that being pushy one comes across as a salesman instead of a professional. Hence, I consciously work towards creating the pull effect. 

    For this, I write articles for local publications to increase visibility and project my expertise. Next, I grab eyeballs on social media by posting financial memes based on popular movies. The text here is always minimal and leaves readers with a financial lesson. This in a way gives me a platform to convince investors about my ability to simplify financial lessons. 

    Further, I hold educational sessions and share my contact details asking attendees to get in touch with me in case they wish to know more about mutual funds. However, I never urge them to share their contact details nor do I make follow-up calls as this again could position me as being sales-oriented.        

    Gradually, investors started seeing me as a distributor with a professional approach rather than a young lad with a casual attitude. 

    A true entrepreneur plays multi-faceted roles - Tejshiv Sharma, Haryana, 21 years old  

    I embarked on my journey as a mutual fund distributor independently and learnt over time that a true entrepreneur plays a multi-faceted role. Thus, apart from honing my financial skills, I read a lot and watched tutorial videos on marketing, editing, etc. 

    In addition, I don the hat of a marketeer to devise a brand-building strategy. Likewise, I also look at creating YouTube videos as a content creator, editing these as an editor and using SEO words as an SEO specialist. 

    Additionally, I also work as a social media analyst to review the performance of social media posts and think of corrective measures on a need basis. Most importantly, I am also on my toes as a client servicing executive to resolve client queries on a timely basis.

    My journey so far has taught me that knowing all business functions from the basics is key to creating a strong hold on the overall business. And with time, whenever I have a team, I will be able to guide them better as a well-learnt leader. 

    Go digital but give investors the confidence of in-person availability - Yuvraj Trivedi, Uttar Pradesh, 18 years old 

    I recently joined my father’s distribution business and have learnt countless business lessons from my father who is also my mentor. 

    While digitalization eases business transactions, certain investors seek help to understand the digital functionality better. Hence, I meet clients and teach them how to use online applications[A1]  for viewing portfolios, downloading statements, etc. 

    I can very well explain these over a call but since I meet them in person, they sense our keen interest in simplifying transacting for them and it also gave them the confidence of our in-person availability.

    Such in-person and 24/7 availability along with digital comfort makes clients feel cared for and goes a long way in building trust and stronger ties. I thus strive to create the perfect phygital environment. 

     

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    Need a clarification or more information on an issue?
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