The stock market industry in India holds immense potential, evident from the significant increase in Demat accounts.
Ravi Singhal, CEO, of GCL Broking
In the dynamic landscape of stock trading, GCL Broking has emerged as a key player, capitalizing on three decades of family expertise in physical commodity trading. Ravi Singhal, CEO, of GCL Broking shares a compelling journey, tracing back to the inception of the NCDX commodity exchange in 2004, when the potential of futures trading became evident. This interview delves into the founder's background, shedding light on the strategic evolution that propelled GCL Broking into diverse market segments. Additionally, we explore the founder's leadership philosophy, the company's adaptation to market changes, and invaluable advice for budding entrepreneurs entering the stock trading arena.
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Can you tell us a little about your background and how you became interested in the stock trading industry?
Our family has been involved in physical commodity trading for almost 30 years. In 2004, with the emergence of the NCDX commodity exchange, we recognized the potential in the futures market. We initially focused on agri-exchange membership, gradually expanding to include other market segments such as MCX, equity, and currency based on client feedback and market trends.
How do you stay motivated and focused as a founder, and what do you do to maintain a healthy work-life balance?
Maintaining focus stems from our mission to be a top ten client in India by 2030 and the expectations of our clients for strong returns. To ensure a healthy work-life balance, I've implemented initiatives within the company, such as creating backup roles for each responsibility, taking team feedback seriously, and organizing regular fun activities to foster a family-like work environment.
What do you see as the future of the stock trading industry, and how is GCL Broking adapting to changes in the market?
The stock market industry in India holds immense potential, evident from the significant increase in Demat accounts. At GCL Broking, our focus is on client loyalty, adopting the latest technology, providing seamless online services, and offering robust research to differentiate ourselves from competitors.
Can you share with us some of the key values and principles that guide your leadership style?
The very first thing is my top priority is my client. I try to be as loyal as I can be to my clients. Whenever they face any issue I have given multiple contact numbers to them. They can directly call my team and ask them about their issue. And still, if they are not satisfied approaching senior management is also very easy. Like we have given the direct landline number of the management. So if they feel an issue they can call the higher management, we have also seen a result of it. Like if you go to the CB complaint portal, you will see how many complaints have been launched against the other brokers. But you will not find GCL's name over there because we haven't had any single client complaint in the last three years. The reason is the first thing, we try to keep them satisfied. If they are not, then we have given access to the management, to them so they can approach us very easily. So this is the very first thing that we are loyal to our client. The second thing is my key principle is I find my team as an asset to my company. As I work on my team, I educate them and promote them so that they can be loyal to me.
How such principles have helped you build and lead your team at GCL Broking?
Being a leader, what I do is I focus on my team only. I feel that my team is my clients only. I have to work with them so that they can work for my clients. So as a leader, most of the time I think about what I can do for the hiring new team and what I can do to serve my existing team. So that is the thing that I mostly spend time on. Okay. The rest of the things are taken by my team only.
What advice do you have for other entrepreneurs who are just starting, and what are some of the most important lessons that you have learned on your own journey as a founder?
There are three main pieces of advice that I can give to the new startup because a lot of new startups are approaching me also for funding and other things. For new entrepreneurs, I advise thorough ground checks for their ideas, seeking venture capitalist funding regardless of the necessity for validation, and a commitment to continuous improvement through customer feedback. Taking every feedback seriously and focusing on continuous improvement is crucial for building a successful business.
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