Inspiring story of Abhishek G. a chartered accountant, who made a career transition at 30.

 

Abhishek had joined ICICI Bank as a Credit Manager.

 

He was amused by the massive delay in the loan approval process resulting from insufficient documents submitted by loan applicants and also the lack of awareness and transparency about the whole process.

 

He observed that loan approval would sometimes take as long as six months!

 

While Abhishek was never keen on starting a business, the cumbersome loan approval procedure made him reconsider. He sensed that there was a business opportunity in it somewhere.

 

While still working at the bank, Abhishek decided to probe into the loan space. He volunteered on visits to loan applicants so that he could get a first-hand understanding of the challenges that people would face, and how the salesperson convinced the applicants to furnish the required documents.

 

Meanwhile, he shared his career change plans with his wife, who, an MBA in finance, encouraged him to pursue his calling.  

 

Abhishek strongly believed that educating loan applicants could optimize the process. He quit his job and started his practice as a loan consultant.

 

Abhishek says, "Word of mouth marketing is not enough.

 

One needs to be aggressive in creating online brand awareness, and also invest in building and growing one's network. I am in touch with all my practising CA friends, who have now started to pass on their clients' loan-related queries to me. I am also building a website for brand awareness and receiving queries."

 

Key takeaways for career change enthusiasts:

 

1. Start working on your alternative career option now while still working at your job. If possible, ask for a change in your current job profile to help you align your future goal.

 

2. Use your time judiciously; meet people, try to sell them your idea, and get real-time feedback. It will provide clarity and help you assess if your business idea holds water.

 

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