Parikshit Singh: Expenses Like Cost of Living and Employee Benefit in Jaipur Are Lower Than Other Cities

Parikshit Singh of Hal Clyde Denison Limited.

Tell us about yourself?

I attended Sri Aurobindo College at Delhi University for my Bachelor’s degree in commerce and spent my semesters working on a personal project:

Hal Clyde Denison which was a private investment vehicle at the time. Those were weird days; I knew that I wanted to be in business but wasn’t sure which one.

I was exploring to narrow down to – what exactly seemed interesting and what sector had the capacity to be the future.

After working with big names like FIS, MRF and BCG; I came back to Jaipur, where I now live and work on Hal Clyde Denison, the same project that I started in my college days – only now, we do Investor Relations Management for Public companies.

What lessons has being an entrepreneur taught you? 

Don’t trust your gut.

Human intuition seems to offer a reliable alternative to painstaking fact gathering and analysis but data-driven activities are the right way – many businesses have been destroyed by managers following their instincts while taking commercial decisions which is simply wrong.

Also pay your vendors on time.

If you could go back in time to when you first started your business, what piece of advice would you give yourself?

I realized now that if you’re doing good and decent work, there is no shortage of opportunities. The time when I first started my business was very uncomfortable for me, I didn’t know what I was doing and often got my hands stuck at different things all at once.

I avoided taking breaks until the work in hand was complete – and that way of working was illogical. To do one thing with complete focus and attention will yield better results than multitasking different things simultaneously.

I still look back each year and realize how foolish I was; I think this a never-ending cycle.

A lot of entrepreneurs find it difficult to balance their work and personal lives. How have you found that?

I haven’t. I’m still juggling both of them – but yes, definitely on the agenda. The personal expectations of my role have not allowed me to have my ideal work-life balance.

However, I have ensured that our team members do not face a similar problem which is why we have an unlimited leaves policy at Hal Clyde Denison Limited.

Give us a bit of an insight into the influences behind the company?

Being the founder of the Company, I am responsible for its survival and growth.

I lead the IR activities that we do at Hal Clyde Denison Limited. With me, there’s Ms. Aayushi Kajla who handles communications and negotiates on behalf of the Company with suppliers and clients. She’s been very helpful and is also a member of the Board of Directors of the Company.

Mr. Sanjay Mathur, Ex-MD of Foseco India is our mentor, he advises us on governance factors and makes sure everything is running up to the mark.

What do you think is your magic sauce? What sets you apart from the competitors?

We are a supercharged IR consultancy; the quality of our work in assignments is top notch. We bring to the table a different level professionalism that clients appreciate.

There’s no magic sauce, our work ethic and overall proactiveness is the key element in our success.

How have you found sales so far? Do you have any lessons you could pass on to other founders in the same market as you just starting out?

Finding leads through direct communications work only when you follow up on your messages/ emails – which is a continuous and never-ending process.

For other founders, I’d recommend them to follow a BML Approach – Build, Measure, Learn. This is like a Hit and Try Method but you learn along with it while collecting data.

What is the biggest challenge you have faced so far in your business, and how did you overcome it?

After Converting our venture from a Limited Liability Partnership to a Public Limited Company, new challenges immersed all around us.

From compliance stand point, we had to file numerous disclosures which earlier weren’t required. I then incorporated a procedure where before beginning work each month, we’d examine and tick over a compliance checklist.

Once we got to the point of following the rules instead of complaining about them, I knew we’ve integrated the regulation part into your business process. We are now maintaining the integrity of our business with compliance.

What do you consider are the main strengths of operating your business in India and the specific state you are in over other states in India?

Expenses like cost of living and employee benefit in Jaipur are lower than other cities.

And this adds to our advantage since we’re keeping our costs to a minimum which adds to the bottom-line of our business. Another thing is – that people from Jaipur generally, are proactive which is the one quality that we look for in our team.

What (if any) are some weaknesses of operating your business within India and your state?

Most Investor Relations professionals are often based in Tier-I cities and hiring them in a city like Jaipur often becomes a task. And to overcome that, we have opted for remote working for our employees.

If you could operate your business in another state in India rather than the State you are in, which state would it be and why?

Delhi; it’s been like a second home for me.

I know the place and have a few connections in the area as well. But ideally, I’d want to my Company to stay in Jaipur, Rajasthan since we’re mentored and supported by the Department of IT & Communications, Govt. of Rajasthan.

India has an incredibly diverse population. How has the affected your consumer base and business?

N.A. We are a B2B Company.

Infrastructure is really important to businesses. How have you seen India’s infrastructure improve recently? Do you see new opportunities opening up?

Yes, all Governments – Central and State have been promoting businesses by providing relevant infrastructure especially for the companies operating in IT and Manufacturing sectors.

I see this as an absolute fact that new businesses and startups have become operational as a result of the improved infrastructure and policies in India.

What do you want to accomplish in the next 5 years with your business?

In the next five years, I hope to see Hal Clyde Denison Limited become a professionally managed company offering its premium IR Services to a commendable client base.

And finally, if people want to get involved and learn more about your business, how should they do that?

If you’re doing your work properly, the tariffs won’t be an inconvenience to you. A proper business has to focus on its actual core operations instead of getting weighed down by things that are not in their control.

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