Jaydip Mehta, Owner, MJ Financial Consultants Pvt Ltd

22nd Oct 2009
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When Jaydeep Mehta launched Moneyjugglers.com (MJ) in Kolkata in 2008 along with partners Nishit Vora and Pradip Sheth, his sole objective was to do something unique and create value out of it. At the time, the trio had already been successful in running businesses in their core area of competency. As the name suggests, MJ is all about money. It’s a finance portal of the firm MJ Financial Consultants Pvt Ltd that offers an exhaustive data, updating members and visitors about capital markets, commodity markets, business news and events, financial reports, economic data, financial calculators, innovations and whole range of similar of other significant subjects.   


“Almost everyone seeks advice when it comes to handling money matters. Many avail the services of experts to guide them on various finance-related issues.

It was when I realised the market did not have enough experts to cater to the growing demand of the masses that I decided to launch the portal as a platform to connect the knowledgeable and the knowledge seekers,” said Mehta while talking about how he came about the idea to start the venture.  


The promoters of Mehta’s MJ are also engaged in loan syndication, star trading export house (Jute Goods), property development (in Bangalore) imports of furniture goods and distributorship of Johnson & Johnson products. 


So far MJ has been launched in Kolkata, but Mehta has plans to make its presence felt in all the major cities and town. Besides, the scope of the organisation is massive considering that all financial service providers expecting good returns and all users seeking financial advice will benefit by registering for the portal.  


The enterprise operates on a simple model. It’s not like looking for a needle in a hay stack. Since the portal offers only financial services, as many as a hundred, it directly connects users to some of the best in the field. “In a way our venture provides internet exposure to financial service providers who do not have a website of their own, but are on a hunt for good business. The experts listed are screened before their profile is uploaded on MJ. This is so that users can get access to genuine service providers not just a list from a search engine,” explained Mehta. 


Mehta’s plans to scale-up the business are grand. He is all geared up to promote the company through networking sites, word of mouth propaganda and advertising on net and print media. “We also intend to tie-up with consultants in various cities to promote the site in that city; the revenue, which will start flowing in once the site receives hits, will of course be shared with the consultants,” he added.


The young biz baron always wanted to be an entrepreneur; he was trained to be one. “I work for my other companies, but simultaneously focus on nourishing this venture. The feeling of creating something concrete and valuable out of an idea is more intoxicating than anything else,” he said. 


Mehta is glad that the company was financed by promoters, who are all successful businessmen, he, however, admitted that he should have been more prepared before starting a company. The one big mistake he made as an amateur entrepreneur was to have paid little interest in building a team of skilled professionals. But it’s from his mistakes that Mehta learned how not to err. The sheer passion to take the idea forward and turn it into a successful enterprise drives him to stay buckled on to his rollercoaster ride of entrepreneurship. His vision for the year 2010 is to break even and become ‘The Global Hub’ of all possible financial services.          .  


Tips to share with aspiring entrepreneurs — There is no sure short formula for success. What works for some may not work for you. Be flexible and accept changes that come along the way. You will be showered with criticism, but you must learn to take them in your stride.

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