Interested in starting your own entrepreneurial journey in consultancy but unsure what to expect? Then read up on our interview with Varun Alag, Co-Founder of Team RV Financial Consultants, located in Kitchener, ON, CA.
What's your business, and who are your customers?
We help busy Canadians build short and long-term wealth using tax-preferred strategies.
Our customer is everyone who works hard to make money but doesn't know how to put money to work hard for them. So, our clients are Canadian families who would like to get on the path to financial independence.
Tell us about yourself
My wife (Ravneet) and I moved to Canada in 2018 and were surprised by how expensive things were and how people were in a vicious debt cycle. So, to avoid ending up in a bad financial situation, we started budgeting and tracking our own finances. To do that, we started learning more and more about our personal finance in Canada to make sure we are on the right path to retire early and with no stress of money.
And when we met with a financial professional (now our mentor) who helped us set up our investment and insurance plans, we were impressed by the financial education and the solutions we got in a few meetings with him. So we inquired more about the profession, the brokerage, and how we could start the business part-time. We studied and passed our license exams and registered our license with the platform - World Financial Group.
And in 2020, when the pandemic hit and the country went into lockdown, we recognized the importance of this business and how everybody around us could benefit from the financial education we could provide. That was the day we started working on our business to share the knowledge and provide a wealth-creation solution to Canadians.
We live the crusade of providing financial education and solution to others, which keeps us motivated.
What's your biggest accomplishment as a business owner?
Our biggest accomplishments so far are the families (our clients) that we can help with their finances and design their wealth plans. And we would like to increase the number even further.
At the same time, we take pride in training and mentoring licensed associates who, like us, want to work in the financial industry and help clients with their wealth strategies.
What's one of the hardest things that come with being a business owner?
Sadly, when we meet clients in our field of business, not everyone understands or is willing to learn about the importance of saving and investing money. If people are unwilling to take a long-term view, it becomes a hard challenge for us to help them.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Be ready for multiple rejections and failures.
- Be an expert on your product/ service. And don't endorse something which you won't own.
- Always think about the customer's experience.
Is there anything else you'd like to share?
The best part about our business is that we don't have any products. We provide solutions and services from major, trusted insurance and investment companies in Canada. And hence we can craft specific solutions to help achieve our client's financial goals and dreams.
Where can people find you and your business?
Website: https://team-rv-financial-consultants.business.site/
Instagram: https://www.instagram.com/teamrvfinance/
LinkedIn: https://www.linkedin.com/in/varun-alag/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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