Interview With Vichitra Malhotra | Founder and Consulting Actuary At Veritas Actuaries and Consultants

Vichitra Malhotra | Founder and Consulting Actuary At Veritas Actuaries and Consultants

It is always our endeavour to share with our community some of the compelling stories on entrepreneurship. One such story is of Vichitra Malhotra who is a passionate womenpreneur.  She is a Founder and Consulting Actuary at Veritas Actuaries and Consultants. We invited her for an interview to know more about her journey so far. Let’s read more!

Excerpts from our exclusive interview with her:

Tell us a little bit about yourself and your startup please;

I am a qualified actuary and run my own consulting firm – Veritas Actuaries and Consultants. My firm specialises in designing, implementation and valuation of all forms of share-based payments such as Employee Stock Option Plans (ESOPs), Restricted Stock Units (RSUs), Phantom Stocks etc. We also undertake actuarial valuation of different employee benefits such as gratuity, leave encashment, pensions.

Given our main work involves designing and implementing share-based payment plans, we end up working a lot with start-ups. Typically, start-ups want to put in place ESOPs as part of their compensation strategy at an early stage, as they may not always be able to pay the employees market levels. In addition, the employees take a risk in joining a start-up versus an established Company. ESOPs are, therefore, a way of rewarding the employees by giving them a share in the growth of the Company.

We have put together a framework wherein we look to match the growth stage of the Company with the type of share-based payment plan they offer, whilst balancing the different stakeholder interests.

I find working with other start-up founders very exciting, as there is so much to learn from all of them. My work also involves dealing with investors and board members to agree the terms of design and scheme rules. It is, therefore, a good balance between learning from the experienced investors/board members and designing a compensation tool which can help the Company achieve its objectives.  

Apart from work, I enjoy reading, travelling and exercising.

Why did you choose entrepreneurship over a job?

Well, I worked for 8 years in three different companies before I could take the plunge to leave the security that a job offered and start out on my own. I think there were multiple reasons for choosing to be on my own but the biggest of all I feel was the connection I felt with my childhood dream of being an ‘entrepreneur’, of starting something from scratch and taking it all the way.

Taking this decision was not easy and more than anyone else, I had to convince myself that this was ‘my path’ and that I could do it! I knew if I didn’t take this decision now, then I would never be able to take it.

What gets you out of bed in the morning i.e. what’s your source of motivation?

I have always been a morning person, so getting out of bed in the morning has never been a challenge. For me, my mornings are sacred. I love the quietness that early mornings bring – it gives me time to be with myself, to reflect, plan my day and get going. I also really enjoy hitting the gym and working out every morning. It makes me feel more ‘awake’ and in control of things. So, I sort of look forward to my morning routine.

Tell our audience more about your failures? How should one bounce back?

I am not really sure what categorises as a failure. Not getting the contract that you worked so hard to get, screwing up your first real client pitch, not meeting your planned targets for the month or even the quarter or questioning yourself on what you were thinking when you took this decision?

If yes, well all of that (and more) has happened and I am sure more of it is yet to come.

But I don’t really count anything as a failure. Sure, I will sulk and get low when any of these things happen. But that does not mean you have failed. The key is how fast you can bounce back, with increased motivation and enhanced effort, to work towards what you want.

When we choose to chase our dreams, we all know it will not be easy and there will be obstacles. We tell ourselves that we will not lose sight of why we started this in the first place and keep going. But more often than not, we lose our will to continue when things don’t go our way. So, my advice to anyone wanting to chase their dreams is to always remember why you started out on this path.

What comes first for you – money or emotions?

I think its money with the right emotions. I don’t think the choices are mutually exclusive. I believe business needs to be done ethically, with a positive mindset and having fun all the way. So yes, emotions matter. But I also believe in being objective in taking any business decision, balancing the pros and cons, and not be swayed by emotions. A business has to make commercial sense. You may not be chasing money as a goal, but it is definitely a factor in every business decision. It has to be! So, I think it’s about striking a balance.

Vichitra Malhotra | Founder and Consulting Actuary At Veritas Actuaries and Consultants

How do you handle the pressure and manage stress?

On a daily basis, exercising and music really help. When I have a lot on mind, running helps me calm down.

I also love travelling, particularly travelling alone, and that is one thing I have started doing a lot lately, mixing work with travel. It helps me feel a lot more centred, realise my blessings and enjoy what I do. 

What advice would you give to someone starting out, particularly to aspiring women entrepreneurs?

My advice to anyone debating whether to take the plunge or not is to go for it. Taking such a decision is always a fight between the mind and the heart. We all know what we really want to do but it’s our fears that stop us from choosing our heart. Only when we can find the courage to look past our fears, we can really be the best version of ourselves.

For those who have already taken the plunge and starting out, I would say – hang in there! It will not be easy and you will not see yourself getting closer to your goals on a daily basis, but when you look back you will realise how far you have come. And in hindsight, it will all make sense.

 

Follow Vichitra at:

LinkedIn – https://www.linkedin.com/in/vichitra-malhotra-520982173

Website – http://veritas-india.com/

You may also like ~ Interview With Iti Rawat | Emerging Women Entrepreneur
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Note: If you have a similar story to share with our audience and would like to be featured on our online magazine, then please write to us at [email protected], we will review your story and extend an invitation to feature if it is worth publishing.

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