Posts Tagged ‘Business’

Why I don’t want to work in a Bank!

November 7, 2013 Leave a comment

I am a writer and I have been writing for quite a long time now. As every other person on earth, I too have a desire to grow big. So, I keep searching for opportunities every where. In this process of finding options, I came across an opportunity to work for one overseas client but it required me to register myself into PAYPAL as that was the medium for payment.

So I went to Paypal website and found a very easy process:

Step 1: register through Email ID

Step 2: Provide bank details and PAN card number

 They would verify the account and DONE!

I was feeling lucky but I missed that word “BANK” while I was dreaming about working for a US based client very soon.
Injured Piggy Bank WIth Crutches

When I checked my status, the Paypal account said that they have transferred 2 small amounts into my account that I need to enter for verification but unfortunately I could not find any such credits. So I dig deeper.

What I found?

The name in my Bank account was different from the name in my Pan Card (after marriage, it got changed) and I was required to change my Bank name to the name that appeared in PAN so that the Paypal verification could be completed.

Now starts the real story:

I called the customer care of the Bank to find out the process details and they told me that I needed to submit my PAN card and Marriage certificate as proofs. Wow! easy again.

However, when they checked my account, it was found that it was linked with my Demat account ( I had linked it for my convenience)

So bank asked me to first de-link my Demat account from Bank Account after which only they could proceed with the name change.

Reason? Well, Its very simple :  Trading accounts are regulated by SEBI while Bank Accounts are regulated by RBI so whenever there is any alteration required than we need to take care of both regulatory bodies, hence the process.

So, my next destination was Demat service providers Office as it could not be done online. So I went to the nearest office where I found some more information to delay my work:

1. The de-linking process itself would take 4 working days (God forbid if weekend comes in between)

2. The de-link forms were exhausted

 so, the manager asked me to call back to check whenever those forms arrive.

I waited for 4 days, yet the forms were not available and then after 2 more working days in addition to the weekend that fell in between, I got a call that the forms were available. The manager asked me if he can come to my place for my convenience and I agreed.

Form filled, and given to him and then was my turn to resolve some more pending issues in my Demat account:

1. The password of the Internet Trading Account slipped away from my mind

2. I was not very comfortable working with buying and selling options

So, he guided me in generating new password and showed me options to buy and sell. There was again a catch here:  

It was 4 p.m so trading time was over so can neither sell nor buy

While we discussed more about the de-linking and re-linking process, I found another very useful and tiring information:

After I change my name, I cannot re-link the account but I have to close and open a new Demat account.


He explained “ Your Bank account name will be changed but the Demat account name will remain same so it could not be linked. If it is not linked to any Bank account then no trading can be done so there is not use of the account. That is why, you need to close the account and then open another if you want to trade. Then link that new account to the bank account again. Alternatively, you can keep the existing account and not de-link but open another bank account in the name you want to have” 

Now my schedule changed again:

 Step 1: I was required to sell off my shares

Step 2: I needed to submit request for closure

That’s it! as I was no more interested in opening another account

However, as I have already mentioned, the trading time was closed so my next step was to wait for next day and then sell my shares, after which I could continue with the closure process.

‘Ah! finally I will be able to do it tomorrow’ I thought. But wait! the guy enlightened me with some more information:

Minimum share cost should be 500 on one company shares in order to sell (and 4 out of 5 of my shares went into losses below 500). So the guy suggested me to first purchase some more shares to balance out the amount and then sell next day using BTST option

He explained “ BTST is Buy Today Sell Tomorrow. In normal process, after purchasing a share, it takes 2 working days before you can sell them but to save traders from risks, this option allows one to purchase on a day and sell next day without waiting for this process

So, the next step was: Use BTST next day so that I can sell shares the day after that and then go to the bank to close Demat account

A little faster option was to try selling low cost shares by paying higher brokerage (He wasn’t very sure if it could be done) and then I would go to the bank for closure.

Next would the application for change of name which would take another few days for processing and finally I would be able to activate my Paypal account.

Good old Days ! I remember the time I used to fight with my Mom when she used to ask me to give exams for Bank jobs and I used to say: “Mom, please, I can’t work in a Bank”

Today, I say it again “I can’t work in a Bank!” If it is so complicated for a customer to get a simple thing done then wonder if I was a Banker (My hair would have changed color by now! ).


Are you an entrepreneur or an employee?

October 3, 2013 1 comment


Are you an employee or an entrepreneur? This is a question with not so simple answer as you may be thinking. If you are saying that an entrepreneur is the one who works for himself while employee works for others then that is not sufficient as I am not talking about ones occupation but something more important – The MINDSET.

Now think again and then say, are you an employee or an entrepreneur? Are you working on a job but thinking to start something of your own all the time? You are an employee, if you are just excited about the idea but you are an entrepreneur, if you are also building a pipeline.

Do you like to take orders? An employee says, “No, but then I don’t have a choice” but an entrepreneur will just say “I don’t take orders”.

What motivates you? Your dreams or the money you earn? An employee is a dreamer but only a dreamer and entrepreneur is a dreamer with a plan.

Dive deep inside you and you will know where you fit. You may be in a wrong place if you are working for a company with an entrepreneurial mindset. Moreover, if you are running your family business with an employee mindset, you are again doing a mistake.

Is money on your mind all the time? Well, an entrepreneur doesn’t work for money! I know that your response may be – What?? Then why does he start a business?

Let me explain this through analysis of a situation:

An entrepreneur starts a business; a month goes without any profits. What does he do? He works for another month, still no results, another month and another month, he still keeps working. What if one faces the same situation as an employee? What will the employee do? The answer is simple and everyone knows –Employee will QUIT.

The reality is that an entrepreneur works for dreams, for passion and for FREEDOM. He or she may be willing to give away money but not freedom. If he or she has to choose between a job, that is giving 10 lakhs and a business worth only a lakh, he or she would choose later. If you are an employee, you will think – That sounds foolish. No one does that! But to an entrepreneur this will trigger a memory of such time in his or her life.

Money motivates almost everyone and we can’t deny this fact but when an employee says “I want to earn a million in an year” , the entrepreneur says “ I will earn a million by next year. I have a plan and resources. However, there are more resources that I need that I will generate in another 6 months” As I said earlier “Employee is a dreamer but Entrepreneur is a dreamer with a plan”.

What difference can you see in the two answers?

Employee Entrepreneur
Dreams without any intention of achievement Dreams with a plan for every penny he or she may earn
Knows what he or she wants but has no idea about HOW Has a written plan for HOW
Focused on money Focused on actions
No worries if not achieved Going to strive hard till he or she achieves this dream

An entrepreneur doesn’t take orders like any employee but discusses and accepts any suggestion that is useful. If a client says “your work was pathetic” ,an employee may say “That’s how company works. What can I do? Not my fault”. However, the entrepreneur will take that as a feedback, work to solve the problem and approach the customer again with the improvement.

If a boss asks an employee to do something, the employee will do as he or she is instructed. However, if an entrepreneur is asked to do something, he or she will think, analyze, put up suggestions, discuss and then plan the proceedings.

An entrepreneur is a self motivated person, charged with his passion but employee depends on external factors for inspiration. These factors can be positive like salary, promotion, appreciation, recognition, incentives, brand association, employee benefits or negative like targets, reviews, competition, pressures, and security.

However, we may find some people with a mix of two – they are capable of taking decisions but they don’t mind working on others and they are self-motivated but would like a monthly income. Many characteristics of employees as well as entrepreneurs would be found in them.

These are the people we find on top working as Industry or company leaders. By saying this, I am not selling you entrepreneurship. All I want to say is that one must analyze oneself to find which role do they fit in – entrepreneur or employee and to do this run a self check:



If a product is faulty, I still sell making fake promises If a product is faulty, I improve on it and then sell
Selling is more important After sales is more important
Getting customers is most important Retaining customers is most important


Money, recognition, appreciation, benefits Dreams, passion, vision, mission, ideas
Targets, reviews, stress, competition Sales decline, customer complaint

Relationship with customers

Temporary till you are working with them Stays for life

Target achievement

Your juniors responsibility Your responsibility
If not achieved, it is companies loss If not achieved, my loss


Risk averse Risk taker


Not more than what you need in job No learning is waste
Learn from mistakes Learn from other’s mistakes


Is a hobby Is life
Good to do Can’t live without


Workers Assets
Good to talk to Can learn from them

Leisure time

Search for new ideas Forget about business
Get inspired Chill and enjoy

Before ending this writing process, I would like to mention one more thing. An entrepreneur stuck between employees is highly likely to get irritated while an employee struck between entrepreneurs is highly likely to get bored.

Neither of the options is wrong but needs different skills and point of views. So choose for yourself, one way depending on your MIINDSET!



The Author of this blog is Pooja Dubey Srivastava. To know more about her work, please visit her business website