As a well known quotation goes,
“The empowered woman is powerful beyond measure and beautiful beyond description.”
Gone are the days when a woman’s place was in the kitchen. Women now have ventured into every field that men have proved themselves in. Women have shown how they too can be equally successful as an astronaut, a CEO, an entrepreneur, a Chartered Accountant, a lawyer. There is no limit to the success a woman can achieve, once she sets her mind to do it.
We have one such woman here, Ms. Tripti Shinghal Somani who is a versatile person and has proved her mettle in many ways. She is a Chartered Accountant, a Post Graduate in Business Law and an entrepreneur all rolled into one. She is the very embodiment of women empowerment in our country.
Ms. Tripti Shinghal Somani is the founder of K.G.S. Advisors who offer their valuable professional services to SME, Start Ups and the like. Having identified the challenges that these small and medium enterprise businesses face, K.G.S. Advisors provide business support services through a ‘single point outlet.’ Be it manpower, finance or soft skills, K.G.S. Advisors is there lending a helping hand to the entrepreneurs to make their venture a success.
With a strong network of qualified individuals working for them, K.G.S. Advisors is ready with a wide range of services for their clients, be it Accounting, Taxation, Legal advice, HRM, Market Research or even assisting in raising funds through equity and debt. With such a service provider who is ready to assist in all areas, does an entrepreneur need to look further? She shows special interest in assisting women entrepreneurs out there. Right now, she is based at New Delhi.
Meet Ms. Tripti Shinghal Somani, the founder of K.G.S. Advisors, the woman behind the success of this venture!
1. What is the Name of Your Venture?
2. Who is your target Audience?
SME/ Startup Sector / PE/ VC/ Angel Funds
3. Where is your venture based (city, state, country) at & What are your target areas?
3/14 Asaf Ali Road, New Delhi 110002, India
4. What problems does your venture solve? What are your products or services?
SMEs face the challenge of assessing the risk relating to potential loss of profit on account of machinery breakdown, transit losses, workmen compensation, accidental losses and other similar areas. SMEs need business support services as they expect delivery of professional services at multi-locational areas through ‘Single point Outlet’. SME need adequate manpower and lack finance and hence need soft skills to provide to the diverse needs of business clients.
5. Share the idea or story behind the venture. How did it come to an existence?
Understanding the need of SME’s it was important to provide them with all the services under one umbrella which needed to be cost effective as well. That’s how we came up with this unique service offering under which an SME can get tailored service package as per its need with KGS Advisors.
6. How did you identify your co-founder? Tell us something about your co-founder/s
I don’t have a co-founder
7. How did you hire your first team members?
Through a strong network built over the years.
8. What expansion plans are you looking at in the next 2 years, next 5 years?
Growing into new segments of women entrepreneurship may turn out to be a viable option through some new processes and events so that they turn out and show their passionate works in the domestic market for their personal as well as social benefits for the society.
Diversifying into providing and supporting these entrepreneurs through financial support so that they can flourish more evidently, thus providing them with motivation as well.
In the next five years I see myself developing & sustaining the established and growing efforts that my team & I have put together to reach the current stage. I believe there should be no reasons for any bottlenecks to stop us from growing and reaching greater heights along with supporting our society with numerous social initiatives.
I feel for entrepreneurs to showcase their talent; it can be interesting to go back in the economy of barter system. In five years, I would like to build the concept of cashless economy.
9. Where do you want to see yourself in the next 10 years?
In the next 10 years, I envision to create a network of worthy service providers who ensure quality service with strong working ethics. This shall ensure growth of service providers and benefit of service seekers with special personalized services at reasonable cost. This network shall aim for win for all the parties involved.
10. Have you raised any funding? Or have any plans for the funding?
Bootstrapped & no plans for fund raising
11. What were the problems you faced during the starting days and how did you resolve them?
In a service industry it is very difficult to find and sustain right people, dependency on human resource is also a challenge. With time and experience I got hold of how to appoint right people in the team and how to minimize the dependency on any one individual.
12. What have been your biggest challenges and learning so far?
Building relationships and maintaining a strong network comes to us very naturally with our senior advisors in the team, but making business of our network is a challenge.
13. Are you married, single or are you in a relationship?
14. What are your hobbies? What do you do in your non-work time?
Play with my daughter
15. What’s your favorite food & holiday destination?
Thai Food, Penang in Malaysia
16. Whom do you consider your idol or biggest motivator?
Sadhguru Saddhi is someone I listen to when I need to stay positive. My father-in-law, Mr. Vinod Somani has been my biggest motivator, he always pushes me ahead to take a step ahead in my work and reach greater heights.
17. What do you feel is the major difference between entrepreneurs and those who work for someone else?
An entrepreneur is ready to put their all in and take risks for the growth of business, they learn by creating and experiencing the falls instead of learning by following.
18. If you had the chance to start your career over again, what would you do differently?
Explore untouched remote areas instead of working for saturated markets.
19. How has being an entrepreneur affected your family & Social life?
Drastic impacts with no time, everything needs to be more systemized to ensure a balance in personal and work life. Quality time plays a crucial role.
20. Anything, you would like to say to our readers or upcoming entrepreneurs?
Where there is a will, there is a way; prepared will ensures success
21. Tell us something about your education & family background.
Professionally Qualified Chartered Accountant and Master of Business law from National Law School and further pass out from Shri Ram College of Commerce from Delhi University.
Family Background – Part of the KGS Family which is a 50years old Chartered Accountant Firm having 5 decade experience. The firm has pan India presence.
22. What is your USP which makes it unique & different from other start-ups in similar domains?
The range of services are tailor-made with ensured quality for the unique requirements within the wide array of Accounting, Auditing, Taxation, Legal, Business advisory, Market research, Human resource management and B2B Handling services etc also assisting Companies in raising funds (equity as well as debt).
23. What do you think is the biggest threat to the success of small businesses & Start-ups today?
Competing with each other instead of competing with itself
24. Do you consider yourself successful and by what means do you measure success?
Satisfaction is the most important parameter.
25. Please share
Complete name – Ms. Tripti Shinghal Somani
Address – 3/14, 4th Floor Asaf Ali Road,Delhi -110002
Phone number – 9818887628
Email id – [email protected]gsadvisors.com
Website of Your Business – www.kgsadvisors.com
Contact Person – Mr. Narender Jamwal (9810418405)/
Ms. Ankita Somani (9999864326)