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In our previous article in this series, we discussed a 10 step process for you to consider if you are serious about building a winning advisory team that can give wings to your growth aspirations (Click Here). Taking this forward, we bring you a real life example of an entrepreneur who has built a high quality team which has spurred her business to achieve rapid growth and be counted among the largest IFA firms in India today.
In the recently held Think BIG Advisor Awards event, Sapna Narang was the winner of the Think BIG Advisor Award for successful team building (Click Here for Think BIG Advisor Awards).
Here's the citation for her award :
"One of the biggest challenges for an IFA in scaling up is to build, motivate and retain a high quality team that can help him realize his growth aspirations. Advisors who are successful in this effort, see growth galloping far above their peers. Our winner this year for successful team building is a firm that not only achieved this feat of building a high quality team, but is perhaps unique in the entire industry as the only team that is a 100% all women team. With the help of 2 partners and 8 well trained, motivated and skilled support staff, the managing partner of this firm is blazing a high growth path in Delhi and Gurgaon. The amazing aspect of this team is how they perfectly complement each other and balance work and home responsibilities to ensure they give their fullest to their families as well as their clients.
For building a formidable, high quality, all women team that is setting an example on driving business growth while maintaining a perfect balance between work and home, the Think BIG award for successful team building goes to Sapna Narang, Capital League, Gurgaon."
Sapna Narang (4th from left) receiving her Think BIG award from Himanshu Vyapak, Reliance MF and Vijay Venkatram, Wealth Forum
We asked Sapna to take us through what it took for her to build this fantastic team that has propelled Capital League to the top of the IFA league tables. Here's what she has to say.
Sapna's story on team building - in her own words
Our team is our biggest asset!!
Our 'Culture', 'Values', 'Commitment','Talent', 'Knowledge', 'Experience', 'Motivation', Mutual Respect' and 'Teamwork' have all made Capital League what it is today.
I started Capital League in 2003 with a dream to provide top end wealth management services to a discerning set of select clientele. I soon realisedthe need for a team. For someone who shared my dream....... my vision.........
In 2004, my Partner Vinita Idnani joined and in 2007 our third Partner, Rajul Kothari joined us. Each of us has our unique strengths and contributes to Capital League in our own special way. We have worked together for several years in HSBC and thus have an understanding of each other's strengths and weaknesses. We share similar value systems and have been unanimous in the 'core values' that form the foundation of Capital League. Our relationship is based on mutual respect, sharing, caring and complete transparency.
In 2003, I hired the first team member, a young woman professional. She took care of the office operations while I was out for meetings. I could not have managed without her. From that day on, we have hired number of young professionals. Vinita, my partner has the unique strength of 'managing' people and thus has evolved as the 'HR Head' of Capital League. She is a guide, mentor and philosopher to the young team members. When needed, she is also a strict disciplinarian, ensuring the team meets the high standards of Capital league.
The first step towards building a successful team is appropriate hiring. Hiring is a sensitive and painstaking issue. Behind each successful hire is the drudgery of dozens of shortlisted CVs,days of follow ups with consultants,cancelled appointments, disappointing, interviews...till finally we find our probable gem! We look for young professionals with a positive 'Do It' attitude and hunger for growth. We look for youngsters who fit in with the Capital League culture. Each new member goes through an orientation and is then put under the wing of a senior team member.Vinita has developed a knack for picking the 'right-fits'. But on the rare occasions when we felt we have made the wrong choice - we have been swift and brutal in letting-go. The impact of a poor hire in a small team is dramatic - it spoils group dynamics. Brings down the morale & efficiency of the team.
We are a close-knit team of 12. We have our lunch together in the conference room, talk about the latest movies, movie stars, fashion.......family issues..........celebrate birthdays, achievements.........have gol-guppa chat parties............and also keep ourselves abreast of the economy, markets and products. Each week we have an update on the domestic, global economy, political affairs, and new developments in our industry etc. Each month we have an external trainer visit our office. Most of the trainings are related to the markets, economy, products etc. But we have also had 1-2 trainings on soft skills. Rajul, my partner has evolved as the head of Research & Analysis. She keeps the entire team abreast of the developments. We regularly have fund managers visit our office and ensure that most of the team members join in.
Our team is young and hungry for growth. Many have gone on to achieve CFP or other financial certifications. They are continually pushing for more work & responsibility. Over the years we have delegated and empowered them to be able to take independent decisions. This has evolved through development of systems &processes, which ensure that each member knows what needs to be done and how it needs to be done. We have never been let down in the trust we have placed in them.
Our team is unique in that it is an all-women's team. We accept that women have to face extra challenges in their professional careers. We have strived to create a supportive ecosystem, where young professional women have the flexibility of facing up to their personal issues while striving to achieve their full professional potential.
Over the years, the Capital League team has gone for off-sites, organized highly appreciated client events, participated in the Delhi Airtel runs, walked together for 'Stepatholon' and along side won many accolades. Our office is overflowing with trophies and certificates. Each a testament to our winning -team!
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