Ludhiana is an industrial town with lots of family owned manufacturing business houses and Dalbeer was lucky to be the first chartered accountant in his family of entrepreneurs. Being a studious fellow and avid book reader, Dalbeer wanted to start his private practice but his friends told him about challenges to establish a practice. Job was an easy option for him being a merit holder and he got himself placed in Audit division of a large accounting firm.
He was groomed in a good family but English was his weak area, so he missed his first promotion and many times used to get negative remarks from his peers in office for his drafting errors. It made him a person with low esteem and poor quality work were assigned to him. Besides being thorough on technical aspect of accounting and auditing, he was unhappy with the quality of work he was doing with no value addition. He did not get time to enhance his skills and after 5 years of service, he decided one day to leave the job and start his practice in Ludhiana.
This is story of many CAs who realized that practice is better than a low paid job and jumped into private practice. However without preparation, the chances of achieving success are 50:50, and networking, building relationship with peers and Industry, sparing time for attending professional workshops and seminars is very important. Dalbeer did realize importance of all this and his way of practice was very much influenced with corporate employee like thinking. After another 5 years , he found himself attracted towards trading business and after his visit to China he started importing knitting machines and selling them. He successfully set up an after sale service center and now running business worth crores. Due to his contacts and deep understanding of business, he is helping buyers with easy credit and started giving consulting in business set-up.
There are many self employed chartered accountants doing unconventional things, raising start ups and adopted public speaking roles as trainer and coach. To cut the story short, it is not important what you are doing currently, what is important is that are you enjoying what you are doing. If not, always look for your passion to make it your profession and success will be guaranteed to you.
Today CA fraternity is sitting on the cusp of big transformation which will start with disruption first. Many activities and services which are drawing premium today may not even exist in near future. Government is going fast towards de-humanization of Government to citizen services including Tax, licenses and approvals. Thus knowledge of technology, on-line opportunities and new age tools is very important to stay relevant, stay focus and grab new opportunities faster than others.
I , CA Sanjay Kumar Agrawal, has decided to assist young chartered accountants to get my mentorship absolutely pro-Bono to figure out what is best for them and how our ICAI can help them achieve their dreams and goals with 3 things
- Power of Networking
- Power of Capacity building
- Power of Self Study and Up Skilling
Visit Link www.casanjay.me to track our previous articles and MCQ series to know how you can build a successful career as Chartered Accountant and contribute in the growth of Nation as true professional.
Author – CA Sanjay Kumar Agrawal