Perhaps identifying promising opportunities comes easy to Vibrant. He is an Investment Banker by qualification after all. Bit by the entrepreneurial bug, he quit his well-cushioned job in New York, came back to India and spent 2 years running karROX Technologies, all the while scouting for the one ‘business idea’ that he could get started with on his own.
Themis now consists of over 25 professionals spread amongst the Accounting, HR and Company Secretarial teams. In a candid, straight-from-the-heart conversation, Nibhrant talks about his entrepreneurial journey so far.
• What made you start your venture?
Themis was originally started as a financial concierge service that worked on handling everything ranging from auto insurance to doing taxes for individuals. As is the case with most startups, Themis eventually evolved into something it hadn’t set out to be. It’s grown to become a one-stop-shop of Accounting, HR and Company Secretarial services for start-ups & SME’s, allowing promoters and entrepreneurs to focus on their core business.
• What has been the key to your business’s success?
The fundamental aim of our business is to allow promoters to focus on doing what they’re good at doing. We allow entrepreneurs to focus on growing their core business while we make sure the rest of the essential but time-consuming work gets done. I believe this is an essential need most promoters feel and this need has worked strongly in our favour.
• What are the major challenges in your line of business and how did/do you overcome them?
One of the biggest problems we face is when people feel Themis being a start-up itself might not be able to deliver what we promise. To overcome this we help them understand how far we’ve come as a company in such a short span of time.
It’s true, we are young, but we’ve managed to partner with over 70 clients in less than a year in sectors ranging from e-commerce, education, food processing, healthcare, real estate, and retail spaces. And work with portfolio companies of Norwest Venture Partners, Mumbai Angels, Blume Ventures, Warburg Pincus etc. So even though we’re young, we have the required experience and we know what we’re doing.
• Do you have a mentor who guides/ advice you on matters of the business?
We are currently in the process of putting together an advisory board of senior business leaders to guide us through our expansion mode.
• Have you benefitted from the use of any specific technology for your regular operations?
Technology has definitely benefited Themis and makes our operations easier. We use the cloud to share data with our clients on a daily basis. We use several accounting software such as Tally, QuickBooks, Xero, etc to manage the day-to-day accounts of our clients.
• What strategy do you follow for Customer Satisfaction & Expansion?
To keep clients satisfied, we just need to make sure we deliver quality and timely work. We act as friends rather than accountants and keep them regularly updated on their firm’s financials. As of now we haven’t employed any hardcore sales tactics to expand our client base.
Our current clients normally spread the word about Themis to family and friends they feel might benefit from our service. This has been fairly successful so far considering the rate at which we’ve grown over the last year. We also attend conferences and events and try and spread the word about Themis to as many people as possible.
• What, according to you, are the top 3 skills needed to be a successful entrepreneur?
o Ability to sell your product o Ability to motivate your employees o The last one isn’t a skill but is still an absolute essential. Absolute belief that your product is needed and will help people. To know more about Themis Consulting, Log on to www.themisconsult.com