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Thursday, January 21, 2010

My interview:-

Am posting my interview here.Heres the real link

Motiwal Oswal Securities Ltd, founded in 1987 as a small sub- broking unit, has now established itself as a well diversified financial services firm offering a range of financial products and services such as wealth management, broking & distribution, commodity broking, portfolio management services, investment banking services, among others. Its client base includes retail customers, mutual funds, foreign institutional investors, financial institutions and corporate clients.

The young and enterprising Mukherjee is now entrusted with the responsibility of taking this business to newer heights. caught up with him to know more about his plans and vision. Excerpts:

1)When and why did you decide to take up the franchisee for Motilal Oswal? Please describe your franchisee business venture?

ans)The ardent desire to plug the gap between making money and not making money in the stock market led me to take up the Motilal Oswal franchisee. I felt that investors and traders do not make enough money as they should, owing to lack of research and quality information. Therefore, after years of utilizing my skills to make money on my own portfolio through my analytical skills and understanding of the stock market nuances, I thought of putting my knowledge to the test. It was in 2008 that I decided to put my knowledge into action and create a success story out of it.We have the franchisee of a reputed brokerage house. Our mandate is to promote their services by getting clients and helping them to invest based on their risk appetite thereby optimizing their wealth.

2)Foraying into a venture at such a young age must have been a tough decision for you. How did your family and friends react to it? Did you face stiff resistance from them? How did you overcome it?

ans)Well! Honestly speaking majority ridiculed me as they thought that at the age of eighteen-nineteen, another one is going to get bankrupt. When my friends were busy flirting and building castles in the air, I was working like fourteen-fifteen hours a day to get the set-up done. I always wanted to do something on my own and had the zeal to be a name to reckon with. Being from a Bengali family where share market is a taboo, I had to face a lot of skepticism and negative attitude from everyone. However, my determination and confidence in my abilities gave me the courage to overcome these barriers. Now those people who discouraged me initially seek my advice on their portfolio which is a testimony to the fact that my conviction is on the way to being rewarded. They have now started to take interest in the stock market, what can be better than this?

3)What convinced you the most about taking up the current franchisee? Did you opt for financing?

ans)After a lot of research on the various brokerage houses, I zeroed in on Motilal Oswal Securities as the medium to fulfil my ambition because it offered security, safety and growth of clients' finances. Moreover, the background of the guys at the helm (they were also sub- brokers themselves when they branched out) made me feel that they would be more concerned about investor’s wealth creation in comparison to the other players in the market. Initially, I had to put in a lot of efforts to organize the set-up because online trading, as a concept, was still in the nascent stages. I had to grapple with a lot of setbacks but I persisted with the brand and had faith in them as well as my abilities which is now being gradually rewarded. I have made a lot of money from the stock markets over the years, so I decided to invest a small portion of it to the broking venture and have had never really faced any problem there.

4)Please describe the education and training provided by the franchisor? Was the training helpful in getting the business off the ground?

ans)Having been in the online broking circle for about five odd years before taking up this venture, education was not a priority for me. The model also requires the franchisee to be well conversant to be able to take independent charge. However, they do provide occasional trainings for modification in the system which is quite helpful. This reduces the rejection rate which effectively expedites the revenue generation process with minimum turnaround time and thus ensures client satisfaction.

5)Is the franchisor responsive to your needs?

ans)The franchisor is responsive in the sense that any dispute that arises is resolved within twenty four hours and the best thing is that mail is actively attended to.

6)As a franchisee, what is your typical day like?

ans)A typical day starts at 8:30 in the morning when business news channels give the market outlook for the day and specific stocks to pick if any. Then we update the clients and get their views before placing the trades and thereafter the trading process continues till 3:30 in the afternoon. After the market closes, we give the trade confirmation and check the position of the clients and update our records for the next day.

7)Did you go through any problems that you didn't anticipate?

ans)There were problems on the way but it was converted to our advantage and used as a vehicle to forge forward and develop ourselves.

8)Does the advertising fees gets reflected in the marketing support (for example, local advertising or in-store signage) that you receive?

ans)Motilal Oswal does not participate in advertising on our behalf except for providing us with the banner and glow sign to highlight the brand. We advertise locally, ask for references and recommendations. Few franchise businesses are completely dependent on corporate advertising.

9)What is your sales pattern like? Are they seasonal? If so, what do you do to make ends meet in the off-season?

ans)Our sales strategy is developing in a matured way. We have started to lay stress on quality rather than quantity. In the first lot of 100 clients that we secured, there are many inactive clients but in the next lot of 100 clients, most of them are active. I do run some communities with ten thousands of members in different social platforms. I have got a free stock blog too ( where 2400 odd registered readers are there and that’s increasing at a rapid pace, 1000 visits a day. The response has been overwhelming and they are coming in numbers to get associated with me. I am on the verge of creating my next innovation, a trading group, where an online account holder of my venture directly gets the membership pass for lifetime. Typically for a broker a horrendous bear market is an off season but so far in every single month since my start be it a bull or a bear market, our revenues have jumped.

10)Did your sales and profits meet your expectations?

ans)The revenue model as mentioned so far, has always been on an upswing. We are thinking of expanding into standalone branches in far flung areas which we were constrained to do earlier.

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