Forms are undoubtedly the most important factor for the conception of procrastination. For great inventors and entrepreneurship to take form, there are a ridiculous number of regulations involving complex or simply annoying paperwork. India has an undying fascination for red-tapism, specifically designed to slow down great ideas to take form. Even if you’re not into business, even everyday basic citizen tasks require a tremendous amount of paperwork to be filled, often with obsolete languages and requires you to run around from one corner of the town to another. Even if you do manage to take a leave from all your tasks and accomplish those, business working hours and painfully long queues means the task to get anything from a driving license to registering for a new sim card will be excruciating. Luckily, there’s finally a startup that claims to be a one stop for almost all your registration requirements.
We had an exclusive chat with the CEO of registrationwala, Gaurav Bansal on his entrepreneurial journey. Here are some excerpts:
Please share your educational background and working experience. Was entrepreneurship something you always wanted to do?
I am a qualified CA with a mind of an engineer. I don’t have a MBA, or a fancy degree from an IIT. I just had an above average tolerance for risk and an idea with the confidence to convert it into reality. I’m a Bansal, a Baniya who belongs to a business family, entrepreneurship is in my blood. I was born with it.
What was your first job, and how well did it pay?
Only job that I ever did was the articleship in a CA firm and was getting paid Rs.1000 per month there. I was never working for money, I was always curious to learn more. After my articleship I planned to practice as a CA and started my own firm and hired some CAs and CSs to work with me.
How was the idea of your start-up conceptualized? What is the need you are addressing in the market?
The idea is just to make a dent in the universe by doing something that matters.
There are approx. 1.5 lakhs CA, CS and other legal professionals getting their business through traditional methods like personal meeting, referrals, etc. On the other hand, all growing businesses, start-ups, entrepreneurs could not afford top Indian firms and Big 4 firms due to their high fees, and limited area of presence. So there is a big gap between the legal professionals, entrepreneurs and start- ups
We are creating a tech-driven platform where all legal professionals can find their prospective clients throughout the globe from Registrationwala. On the other hand, entrepreneurs, start-ups and other persons can get their best business services using one platform.
Is there a story behind the name of your start-up?
Registration is a basic requirement to be done at any step of life. It can be birth registration, business registration, death registration. We are creating a portal targeting all types of registration. We want to create a Google for registration which can be used by any e-commerce or business for their growth. Hence word ‘Registrationwala’
What is your business model?
Our business model is different to other service sector companies in e- commerce sector, traditional Chartered Accountant firms and ‘Big 4’. Registrationwala is a web portal where client can choose services offered by us, submit information and documents make payment and get the work done.
Similarly we can provide any kind of registration, it can be event registration, job registration, property registration, motor vehicle registration, registration for exclusive mobile lunch and so-on. We are creating a super eco-system for registration.
We’ve served more than 9000 clients so far having a good retention ratio includes big name like Snapdeal, 91Mobiles, Zee Learn, Safari, Sol Mobiles, Kenny Rogers Roasters and many more. We are currently offering 43 business support services in 122 Cities across India. I founded Registrationwala in December, 2013 as a Private Limited Company, later Mr. Mayank Goel joined as the Co-founder and has a 25% share in the equity.
What is your team size and office culture like?
We currently have a team of 47 professionals and it’s increasing every day. Most of the people think that money is the prime motivator for their employees, but in our company we try to involve them in the on-going development and progress of the company. Plus, they often have insightful ideas that can make a significant difference in the company. And when they are involved, they buy-in faster and resist less. This means we can implement the change(s) more quickly and easily.
Who has been your mentor in your entrepreneurial journey?
I had no mentor, no role model, and no special teacher to help me sort out my options. My situations were my mentors, I had my laptop and a phone and that was enough for me to find solutions to all the problems that came my way. I just believed in making something real. Anything else was just a distraction to me.
What has been your biggest challenge since its conception?
It’s no child play to start a business, you’re always working and every morning starts with new challenges and as Registrationwala started expanding biggest challenges were maintaining the hierarchy, business management, injecting of capital in the right way to reduce the cash burn, coping with the risk factors. What kept me and team going was the positive attitude towards work, we act instead of talk. If we make a mistake, we try to fix it quickly. We always try to keep a flexible approach towards our work style.
What do predict for the future of your business?
Currently we are having a growth rate of 500% and we are expecting to start some exclusive services in financial domains which no other brand is providing. We are about to start free online ITR filing and free trademark search. We are also collaborating with some big brands to launch our services on their portals as well. In coming years we will expand our business operations throughout the globe starting from Singapore, Malaysia, UK, USA and on that will increase valuation and single brand name for all types of registration throughout the globe by “Registrationwala”.
What changes have you experienced in your own self since the day you started the business till now?
We all have ideas and we can come up with as many we want, but what matters is the execution of that idea from point A to somewhere near point B. If I want to do something, I have to do it now. I can’t delay it for later, as now is the time when I’m inspired and this inspiration is the only driving force I need to get two weeks of work done in one day. That’s what has made Registrationwala to come in the top four online platforms for legal services in India.