The trio zeroed on for Banking Test Preparation, admitting that it was “an obvious choice as lot of opportunity was coming into this field and no quality coaching was available to candidates.”
And thus Bank Power was born on 1-Apr-2010. Saurabh was entrusted General Awareness and Reasoning aptitude. Nikhil, English and Reasoning Aptitude. Excerpts from an interview with Anil Nagar who currently looks after Quantitative Module and Reasoning aptitude in Bank Power What has been the key to your business’s success?
Innovation, proper use of technology platforms, no compromise on quality and Self-Believe that we can achieve in spite of all odds, team work and finally, the trust amongst us, the three partners.
What are the major challenges in your line of business and how did/do you overcome them?
• Extremely fragmented market. • The fact that the three of us are 1st generation entrepreneurs without any experience in running a business.
Do you have a mentor who guides/advices you on matters of the business?
Well we do not have any mentor who guides us on business matters. We, currently, brainstorm amongst our own selves where we play the devil’s advocate to each other’s point and arrive at solutions.
Have you benefitted from the use of any specific technology for your regular operations?
One of us is techie from IIT BHU which gives us an edge over a number of our competitors as far as technology usage is concerned. Although our business at present is not technology intensive, we use internet extensively to reach our audience and for product usage. For our day-to-day operations, we have built in-house Institute Management Software.
What strategy do you follow for Customer Satisfaction & Expansion?
Education is what we deliver. We are extremely careful about our teaching pedagogy and content as that is the core of any education company. A regular feedback from all stakeholders like Students, faculty, staff keeps a regular check on customer satisfaction.
BankPower has two ways to go ahead:
• One surely is geographically but we also plan accelerate on the product level. Ultimately, we want to have a pan India presence but looking at the short term, we’d like to consolidate our presence in NCR region. In the medium term, we have identified some educations hubs like Patna, Lucknow, Chandigarh, Jaipur, Indore etc where we want to make our presence felt.
• On the product Side, Bank Power has launched a brand SSC Power, which is a focused brand catering to the needs to the recruitment tests of Staff Selection Commission (Central Government jobs).
What, according to you, are the top 3 skills needed to be a successful entrepreneur?
1. Clear vision of the company. 2. Risk Appetite 3. Persistence and patience For more information about us, you can visit our website – www.bankpower.in