The history of money is fascinating. The more you dwell on it, the more you realize how the entire financial system works because of the implicit trust human beings place in the productivity of other human beings to make their lives better, easier and more convenient. For a majority of human beings’ existence, we have survived and thrived in small groups and settlements, where the barter system reigned supreme.
The invention of writing gave an impetus to record transactions. Something along the lines of ‘John owes me seven bales of grass to be paid during his harvest in three months’ time, in exchange for the two sacks of grain I’m providing him now’, has been verified by archaeologists studying the Mesopotamian, Egyptian and Babylonian civilizations, among a host of others.
Taxation is said to have evolved in tandem with the written records of financial transactions. As humans began to organise themselves from small settlements to kingdoms, city-states and nations, bound by common beliefs in Gods and religion, serving under a self-appointed king or queen ably supported by the military, citizens were asked to support their respective regimes by paying a portion of their wealth for the upkeep of their community.
As we rouse our eyes towards the modern nation-state, a majority of businesses and individuals tend to look upon the myriad set of laws and regulations put in place by the finance ministry and the income tax department, in a sense of fulfilling an obligation, rather than viewing them as enablers, or a practical means to further their business interests. After all, it does pay to ensure you have a good team of professional lawyers and chartered accountants by your business’ side.
Give a brief info about your start-up?
We are Vriddhi Advisors, a professional firm dealing in tax and regulatory issues for our clients in India and the Middle East
What made you start your start-up and what problem does it solve?
I felt that there was a need to provide more practical and business-oriented solutions to people. Presently, we feel that the other consulting firms focus too much on the technical and tend to oversee the practicalities involved.
Tell us about yourself, your previous jobs/ventures? What were you doing before this start-up?
This is my first start-up. I have been in various job profiles since 2011. This gave me an opportunity to work in Delhi, Mumbai and the Middle East.
Where is your start-up based out of? Why do you think that is the best place for you?
We are currently based in Delhi. The Delhi-NCR region is vast market and mix of all kinds of businesses – corporates, family-owned enterprises, SMEs etc. Also, almost all the government bodies and courts are based in this region which makes it the first choice for anyone dealing in tax and regulatory issues.
As a start-up founder, what are you paranoid about? What keeps you awake at night?
It depends on what’s on your mind. It could be an ongoing tax case or client whose expectations we were not able to meet.
Who are your competitions and how are you better than them?
There are number of professional firms in the space. We believe that we provide more practical solutions rather than overburdening the client with technicalities.
How hard is it to have a work-life balance as a start-up founder and how do you manage it?
I believe its important to have a proper work life balance to ensure that as an entrepreneur one does not burn out. I try to keep at least 3-4 hours for myself and family.
Have you raised funding? If yes, then we would like to know the details. If no then please tell us if you are looking to raise.
We are currently not raising any funds
What’s the biggest misconception people have about you? Why do they have that? What’s the reality?
I think a lot of people think I am an introvert because I usually take some time to open up to others.
What gets you excited about this company?
The space we are in is a very competitive ground. The challenge for establishing the brand in this space is what give me an adrenaline rush.
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Tell us how a day in your life looks like? Your schedule for a day right from the time you get up till you hit the bed at night.
I start my day early. Mornings are spent planning and introspecting before starting work. The first half is usually dedicated to meetings and court hearings. Post lunch, I spend time in the office on various assignments. I usually wind up by late evening. I like to go for swim or a jog before going to bed.
Tell us about your team and how did you meet each other?
We are a team of lawyers and chartered accountants. Each of us specialise in our respective subject domains. We met during our job tenures in one capacity or another.