Rachana Ranade - The Primary Objective of My YouTube Channel Is to Elevate Financial Literacy in India (Financial Influencer with 4 million+ Subscribers)

I focused on teaching finance-related subjects, and the impact I had on my students only strengthened my resolve to continue. In 2019, I took the step of uploading my very first stock market video on YouTube, which within weeks, went viral, and since then, my journey has been nothing short of remarkable.

1. Tell us more about yourself and your journey.

A CA by profession, I had loved teaching since the early days of my career. Initially, I focused on teaching finance-related subjects, and the impact I had on my students only strengthened my resolve to continue. In 2019, I took the step of uploading my very first stock market video on YouTube, which within weeks, went viral, and since then, my journey has been nothing short of remarkable. Creating content on this platform has been instrumental in keeping the spirit of teaching alive within me. The primary objective of my YouTube channel is to elevate financial literacy in India by presenting finance concepts in an easily understandable manner for individuals. 

2. How did you come up with this idea and go about executing it?

When I used to take classroom lectures, a student recommended that I consider adding my lectures on YouTube to benefit a wider audience. Intrigued by the suggestion, I decided to upload my first-ever video on the Basics of the Stock Market, which took off well. Encouraged by the positive response and feedback I received from viewers, I continued creating more videos on finance-related topics. My objective through this channel is to simplify complex terminologies related to the stock market, mutual funds, fundamental and technical analysis, and personal finance to make them easily accessible to individuals.

3. What has been the biggest challenge that you faced and how did you overcome that?

One big challenge I have been facing is the reduced attention span of people with the emergence of the trend of short videos. Being habitual to giving 1-hour lectures - and now converting that knowledge to bite-sized info videos in less than a minute, is a challenge for me. I don’t think I have mastered the art yet, but I am trying to get better at it with each video.

4. What do you think are the most important qualities of a successful entrepreneur?

I believe successful entrepreneurs are often driven by a deep-seated passion for their ideas and a desire to bring something truly innovative or valuable to the world. What truly distinguishes successful entrepreneurs is their willingness to persevere in the face of the numerous challenges and setbacks that inevitably arise along the way. Successful entrepreneurs are able to stay focused on their goals and remain steadfast in the face of adversity. 

5. What are some of the most important factors for running a successful business?

I believe understanding the target market and customers is an important factor in running a successful business. Understanding the consumer is important as it helps companies meet the specific needs and preferences of their customers, which leads to customer loyalty and retention. 

Another important factor is innovation and creativity.  It is essential for businesses to stay up to date with the latest trends in their industry and use this information to create innovative solutions.

6. What are your tips for first-time and aspiring entrepreneurs?

Setting SMART goals can be a great way for aspiring entrepreneurs to establish clear and achievable targets for their businesses. SMART goals mean your goals should be Specific, Measurable, Achievable, Relevant, and Time-bound. Stay focused on your long-term goals and stay motivated even when things get tough. Remember that every setback is an opportunity to learn and grow.

Also, surround yourself with like-minded entrepreneurs, mentors, and advisors who can offer advice and support as you grow your business.

7. How can one overcome the hurdle of lack of funds when starting up?

I feel it is a good option to do a job for 1-2 years before starting up. Living frugally and saving most of your money will help you with the necessary funds while you build on your ideas.

Interviewed By - Anshika Garg