At BrilliantRead Media, we always strive to bring to our community some of the finest stories from the entrepreneurship world. As part of this endeavour, we invited Nirmal K. Rewaria for an exclusive interview with us. He is a Business Leader, Wealth Management Consultant, Advisor, Mentor, Change Maker and CEO at Inheritance Tech Startup. Let’s learn more about his inspiring journey, his background and his advice for our growing community!
Excerpts from our exclusive interview with Nirmal K. Rewaria:
We are aware of your contribution to the ecosystem, talk us through your background and your journey as an entrepreneur, please;
I am a veteran business builder in the Financial Services industry and my keen business acumen has helped build four successful businesses in a 24-year career. I believe in taking up challenging work and love it when it is good for society at large.
I strongly believe that ‘My Wealth Protector’ emerged after decades of serving Indian families while advising them for investments. ‘My Wealth Protector’ works for a social cause wherein case the primary wage earner passes away, it ensures the dependents get their rightful access to the assets with minimum fuss and are able to rebuild their fractured lives fast.
How did you discover your passion?
Before venturing in this, my last assignment was with the Edelweiss Financial Services group where I worked as SVP and Director for around 9 years. While serving millions of investors in my career I found that the Earning member of the family keeps on running for the family’s better present and future and to safeguard that s/he builds lots of investments and buys insurance policies.
Whatever he/she does, family is the focal point but the irony is that at home no one is aware of what has been built for them.”
Forget about the family, even the Earning member himself/herself forgets about investments made a few years back.
In case the Earning member is no more than family, they face a lot of problems in getting ownership claims of investments of the Deceased Earning member.
This is the basic reason in India Rs 82,000 cr of investments are lying in suspense accounts. This is a big problem and that motivated me to do something for society as I don’t want the Dependents of the Deceased earning members to face problems and live a bitter life.”
How do you manage to keep going despite the challenges? What drives you?
When you start a venture, it’s very painful for you as being in the corporate world you enjoy all the benefits and being at the senior level, you are like a king. But the moment you start your venture, you get both emotional as well as cultural shock.
More than that people or organizations stop dealing with you as with you now there is no tag. But what drives me is the hidden social cause in our service that when the Earning member is no more we stand with the Dependents and help them in getting claims of investments and insurance policies.”
With this, the left behind Dependents are in Peace of Mind that some professionals are helping them. During the life of the earning member, our service again offers Peace of mind to him/her that these professionals shall help my family and the purpose of investments shall not be defeated.
Who do you believe has been the biggest source of motivation in your daily life?
The biggest source of Motivation is the hunger to help the Society as everyone is behind the earning member to sell some products but we only focus on how to safeguard the Wealth of the Earning member so that his/her family does not face any problems when the earning member is no more. The hidden Social cause in our service motivates me on a daily basis.
What are some of the strategies that you believe have helped you grow as a person?
1) B2B2C Sales strategy
2) Being honest and transparent when you meet with your target audience
3) Keeping Lower expenses
4) At last having patience
You are always positive and motivated, what keeps you going?
(a) First of all, I know that new ideas take time to get its own place in society
(b) You should keep on moving and put honest efforts, results are just the outcome
(c) Success does not come in one day, it’s a combination of a lot of aspects of your workings
(d) Time or situations shall never be the same, if today we are going through a difficult phase does not mean that always we shall be in the same phase.
(e) No one knows when the Time gets change
In your opinion, what are the keys to success?
My favourites are:
– Being positive and happy always whatever the situation
– Even after 24 years of experience running as a management trainee and working hard to make this venture more successful
– Empowering the team members
– Open to learning new things like a kid
– Positive Attitude
– A combined risk attitude where sometimes become conservative and sometimes very aggressive
What advice would you give students and young professionals who want to have a successful career?
Whenever you start any business or start a career initially there will be a lot of challenges that will come even though your idea is great or how much you have done the study but we need to focus constantly to achieve the goal and try to make it successful business or a career.
Further, I want to close on the note that one day will come you will make history or you will be broken down and last but not least a lot of support you will also be needed from your family & friends during tough times of starting of this exciting journey as an entrepreneur or a career.
BrilliantRead is committed to bringing stories from the startup ecosystem, stories that reshape our perspective, add value to our community and be a constant source of motivation not just for our community but also for the whole ecosystem of entrepreneurs and aspiring individuals.
Note: If you have a similar story to share with our audience and would like to be featured on our online magazine, then please write to us at [email protected], we will review your story and extend an invitation to feature if it is worth publishing.
