Adhil Shetty, Founder & CEO of BankBazaar, took a leap of faith in 2008 and there’s been no looking back ever since. Here are a few takeaways from the man himself.
Why I started BankBazaar?
What is it that could make an individual leave behind the security of a corporate life and take a leap of faith to venture out on his own? What is it that made me leave it all behind and start BankBazaar?
The answer to this, like most things, is both intricately complex and simple at the same time. Being at the helm of your own company is a journey that certainly is filled with highs but at the same time, like all new ventures, can be filled with uncertainty. The challenge lies in being able to keep the uncertainty to a minimum and to maximise the highs. At the heart of every entrepreneur though, lies the true reason for venturing into what must surely seem a risky undertaking to the average onlooker. This reason is much less complicated than one would imagine. It is to simply have the freedom to innovate, put ideas into motion and find solutions to problems. It took me one week to decide to take the plunge and start BankBazaar.com. Before I knew it, I was back in India, with a laptop, and a vision for an internet company that would democratise finance. I haven’t looked back since.
What gets me to work every morning?
The opportunity to direct your energy and passion into doing something that has never been done before, and not in just any way, but in a way that requires intelligent thinking and execution is exhilarating and unlike anything else. Waking up to this everyday never gets old. It isn’t just the act of doing things. Rather, it’s doing things well, constantly raising the bar and pushing to become better. At BankBazaar, we move towards our goals quickly with great focus on our core competencies – whether it’s developing our technology, integrating our platforms, structuring our products, or maintaining relationships with our investors. Nothing beats the high associated with the challenge of getting things off the ground and maintaining an upward growth trajectory for the company.
How do I meet challenges?
As a company, we constantly face challenges and are being pushed to take decisions as a team. What we do is look at the options and pick the ones that will be the best for the company in the long run. The people I work with are so good, we’ve always been able to push through. Challenges at BankBazaar are more tactical.
What’s the secret to being a successful entrepreneur?
Most successful entrepreneurs would tell you the same thing: entrepreneurship all comes down to working hard to achieve something and being disciplined and focused in all you do. At BankBazaar, this is a part of our culture and is what runs through the veins of anyone who joins us.
And what about the people I work with?
One thing that has always been clear to me is that you do not want people to work for you but with you. Whether it’s building great content, brand or logistics, we make sure that we’ve got the best people in the right roles, working cohesively to deliver a compelling product. At BankBazaar, employees are our key asset. Acquiring, motivating and retaining such a fantastic team is something I never neglect.
What makes us tick?
If I were to tell you the secret of what makes me, this company and its people tick, I would say it’s the relationships that we’ve built. At the heart of any successful undertaking is a network of good relationships – relationships with your employees, your management team, your investors and your partners; nothing is more important than maintaining synchrony among and between these different groups.
Are there days of doubt?
At BankBazaar, there has never been any question of doubt. Things are going well, fortunately, and are only going to get bigger and better. There’s no doubt that we’re going to work hard as a team to get there. Moreover, we have every intention of working closely with our banking partners and financial institutions to make sure we’re doing the right thing.
Would I have done anything differently?
People are sometimes filled with regret about things that should have been done a certain way or decisions that could have been made in a different manner. But, looking back, I wouldn’t do anything differently. Every mistake was a huge learning opportunity that stopped me from making bigger mistakes in time.
At BankBazaar, our goal is to help people make big decisions and to stand in as a trusted financial advisor. We intend to be everyone’s personal finance companion by delivering financial products on the phone and making banking processes as smooth and seamless as possible with paperless transactions. We’re working hard together to achieve this and are excited about the future.
My advice to my team
Work hard, stay focused, work together to build a great company!