How a Simple Idea Can Turn into a Modern Marvel of Entrepreneurship?
India, besides being called as “the Land of Maharajas” or “the Land of Spices,” has won a new pseudonym for herself, “the Land of Startups.” Every year, tons of startups enter into the market with some of the most revolutionary ideas that can change the way we live, eat, work or perceive.
From using toxic carbon dioxide to creating writing ink to making low-cost DIY angioplasty machines, Indians have come up with some of the greatest ideas in the history of mankind that endure the capacity to reshape our world.
One such prodigious idea was formulated by a man coming from a humble Navy background, with almost no experience of business and without a hardcore education in the field of entrepreneurship. Meet Mr. Virendra Singh Ranawat, the man behind the idea of MySIPonline – a pioneering company in the field of mutual fund investments that draws its energy from the prowess of the internet.
This is the story of how a simple idea, initially thought just to make things simpler and more accessible, turned into a multi-million dollar venture, in the words of the titan himself.
The Story of MySIPonline
While fishing for some ground-breaking inventions in the past year that happened in India, we came across the story of MySIPOnline which by far stands as the most influential discovery of the modern-day world. To have a far better idea about this company and how it functions, we got in the loop with the COO and co-founder Mr. Virendra Singh Ranawat, who was kind enough to spare some time and meet us in a coffee shop to share his wisdom.
- You are amongst the very few young achievers in India. How does that feel?
Ha-ha. Thank you, but I don’t really feel I have achieved a lot, or for that matter anything yet. There’s a lot more I want to explore, experiment, and play with before I could actually feel I am successful.
- How did it appear to you to start MySIPonline? Was it a pre-planned move, or something that came to you randomly?
Well, a kind of both, I suppose. Though I never had an idea to build an online investment company, I was always fascinated to start something new, something of value. The idea of MySIPonline, though a surprise to most people, came to me when I was reciting the story of the ‘The Thirsty Crow’ to my kid. I was really intrigued by the idea that how a small creature used his limited intelligence and understanding of his surrounding to quench his thirst. I faced a similar situation when I was trying to find a solution for my savings, but refrained from investing in mutual funds due to the tedious process and tons of other formalities involved.
- How does MySIPonline make investing easier?
We provide with an online facility to the users where they can enjoy a variety of different amenities. They get timely updates on what’s going on in the market. We have activated push notifications that when subscribed, notifies you of the latest updates on our website regarding mutual funds and other related aspects. Then, we have our own in-house suggestions and recommendations page where you can find the top recommendations and invest in the best mutual funds in India. In other words, we act as the pebbles in the pot to bring the water to the surface; we fill in the gap between the investment products and you by letting you pick them up online.
- What are your thoughts about the Indian mindset? Will MySIPonline be able to attract more investments?
Absolutely! Though Indians are known to be very economical and clever about their expenditure, they are known to leverage on the opportunities as they come. MySIPonline endeavours to make people aware of the rewarding opportunities present in the realm of mutual fund investing, and thus plant faith in their hearts to take a step ahead. For this, we have started giving regular articles on the hot topics about the market. Plus, we also have our own YouTube channel Mutual Fund Talk Show, where our experts present memoirs on the top funds and who should invest in them, in a simple and understandable manner. We think this will definitely lure more people into taking mutual fund investing in the coming years.
- What will be your advice to the investors for 2019?
I think 2019 would be a great year to grind profit from the money market. Though the market has raised some suspicions due to a dull performance in the past year, however, in my opinion, it will get back on track in a few months down the line. So, I suggest people should definitely reach out to their investment advisors and make plans for their future endeavours. Or, they can even take the help of our ‘Support Desk’ facility where our experts handle all kinds of queries, professionally.
- So, what’s next? Where do you want MySIPonline to be in the next five years?
I don’t believe in making “five-year plans.” I think if I could just keep on doing better, I won’t have to think anything extra to make MySIPonline grander. We are here to serve the people and not ourselves. And that, I believe, is the mantra for success.
With a huge grin on his face and oozing energy from his eyes, Mr. Virendra concluded that MySIPonline is indeed a very bright platform for making concrete future plans. Counting on the words of one of the few young Indian achievers, we hope that the mutual fund investment does bring prosperity and glory to all the investors in 2019.