Tata Mutual Fund along with Cafemutual launched a contest ‘My Self-Belief, My Journey’ to highlight the inspiring stories of MFDs who have overcome real life challenges. The winners of the contest were recently announced and we will be sharing each of these heart-warming stories.
Today let us look at inspiring journey of Deepak Khandelwal from Jaipur.
Many people find it difficult to leave a well-paying job to become an entrepreneur. Further, uncertainties in business discourage many from taking the leap. However, Deepak was clear and knew what he wanted to achieve in life.
Deepak worked with an AMC and thoroughly enjoyed being a part of the mutual fund industry. He was well settled in his job and had a good pay. However, one thing that bothered him was his dream of becoming an entrepreneur. Initially, he found it difficult to convince his family to quit his job for entrepreneurship.
At the young age of 25, Deepak followed his inner voice. His self-belief also overpowered the fact that he had no business background. Since he had a deep understanding of the MF business, he left his job to start his own MF distribution firm.
In April 2015, Deepak embarked upon a new journey as an MFD and functioned from a rented office. A few friends and family members started investing with him in the initial days. However, despite having referrals, he could not convert them due to operational challenges. He used to spend most of his time in filling up application form, collecting cheques from existing clients and submitting them to respective RTAs or AMCs.
Later, Deepak hired two people for operational activities. This gave him adequate time to focus on client acquisition. His savings and upfront commission helped him pay rent and other recurring expenses.
Deepak started focussing on organising IAPs to acquire new clients. Even today, he conducts at least one session a month. In fact, he attributes his business growth to IAPs and referrals.
Apart from MF distribution, Deepak extends his helping hand to clients in whatever way possible. In fact, he has helped many of clients’ children get admission at renowned schools or classes. He is accessible for his clients 24*7. This helped him create build a strong relationship with clients and become more referrable.
There has been no looking back for Deepak since then. In a span of six years, he achieved some key business milestones. He transitioned from being a one-man army to a leader guiding a team of eight members. He touched newer heights as he shifted from rented to owning two offices.
Deepak runs his business in the name of RG Associates and meets the financial needs of 1300 clients. Deepak currently manages AUM of Rs. 60 crore in mutual funds.
This is Deepak’s story which is an inspiration for those hoping to venture into the entrepreneurial world.
Stay tuned for the remaining 9 stories …
