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FinCradle A Substitute for Finance Courses
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Fincrandle

• Today, we have with us Mr. Naman Jain, who is
  helping to nurture talent with experience. He
  co-founded FinCradle along with Mr. Savit
  Singhal, in 2019. Within less than a year of its
  inception, FinCradle has acquired a faculty with
  more than a decades worth of experience in
  companies like KPMG, BCG, and McKinsey.
• How they managed it, what issues and challenges
  they faced and where are they headed are a few of
  the queries that we had and Naman Jain being a
  calm person he is, was more than happy to share.
  Answering about the challenges Naman faced as an
  entrepreneur, he candidly replied, Being an
  entrepreneur is not easy. He further added, By
  being an entrepreneur, I am a YouTuber, social
  media marketer, a digital marketer along with a
  teacher and a mentor. I am doing all of those
  things which normally a person with a skill or
  two would select as a career. Naman iterated the
  fact that an entrepreneur needs to take care of
  more than a single domain of the business. S/he
  is supposed to know about everything that is
  concerned with his/her business.

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To know more, read the full interview below.

• Anu Jain
• Who all were there in the founding team?
• Naman Jain
• One of my friends, Savit Singhal, is there. We
  both started FinCradle. It was our joint effort
  to bring this company into reality, and were
  doing quite good with our numbers and our
  valuation as well.
• Anu Jain
• What was your idea or motivation behind starting
  FinCradle?
• Naman Jain
• We pursued a lot of finance courses along with
  our graduation. In every course, we struggled
  with guidance. We struggled with finding a good
  teacher, finding good study material, and all of
  those things. So, we figured out that there is a
  need to create a platform on which all the
  training requirements can be met at a single
  place. That is how we came up with an idea to
  begin something on our own, to create a platform
  in which we guide students from the very basic
  level about how they can establish a strong
  career in the field of finance and how well
  assist them with all the global finance courses,
  all the skill development courses and even help
  them with placements.

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Continue.

• Anu Jain
• What is your target market? How do you segment
  your target market, and how do you approach them?
• Naman Jain
• Our target market is all of those who want to
  pursue a career in finance. Many students are
  there who know that they want to pursue this
  particular course. So, we are there to provide
  all the necessary resources. Some of them are
  confused about whether they want to pursue it or
  not. So, we provide them with short courses so
  that they can analyse the industry in a months
  or two months period. They can have an
  internship of one month so that they can get
  practical hands-on experience of the industry of
  how things happen in the industry. They can then
  analyse whether this field is correct for them or
  not. Our basic target audience is those students
  who are not prepared for any particular segment
  of the industry or want to enter the finance
  field.
• Anu Jain
• What is the go-to-market strategy of FinCradle?
  And is there any difference in your approach and
  the approach of other companies providing similar
  courses?
• Naman Jain
• Yes, definitely! FRM, CFA type courses are very
  famous in the industry. People know when they
  want to do such courses. Theyre very expensive.
  So, what other companies are doing is they are
  generally promoting themselves via digital
  marketing. Theyre putting a lot of money into
  it. They have established their brands. But being
  a new company, we cannot spend a lot of money on
  that. So, our strategy is quite different. We
  want to catch up with students on a very basic
  level to guide them, mentor them, and bring them
  up to the higher-level courses.

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• Anu Jain
• Do you make sales only online, or are there any
  offline channels as well, which you follow?
• Naman Jain
• No. Since the time we started, the pandemic had
  happened. So, everything has been online up till
  now.
• Anu Jain
• What are your revenue streams, and what portion
  of it do you spend on sales and marketing?
• Naman Jain
• On average, around 20 to 25 of revenues are
  spent on sales and marketing.
• Anu Jain
• The most crucial thing in a business is the sales
  part. Are there any challenges that you faced in
  making sales?

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• Naman Jain
• Definitely, were facing challenges. Since both
  Savit and I are from finance backgrounds, we know
  little about what marketing is or how sales are
  made. So, we are in the process learning these
  things. Being an entrepreneur is not easy. By
  being an entrepreneur, Im a YouTuber, a social
  media marketer, a digital marketer, a teacher,
  and a mentor. Im doing all of those skills which
  a person selects as a career. Like if you want to
  do YouTube, you are trained for that. If you want
  to do digital marketing, you pursue a course,
  which is only for the digital marketing part. But
  we are doing each and everything. And we are
  developing ourselves daily to grasp those skills
  so that we can put them in our company.
• Anu Jain
• Are there any other companies that you consider
  to be FinCradles major competitors?

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• Naman Jain
• There are many competitors for us, such as
  Wallstreet school, Aswini Bajaj, and Sanjay Saraf
  Education Institution. Apart from these many
  established brands are also our competitors.
• Anu Jain
• Do you feel that there are any other substitutes
  as well for your courses? Like students can go to
  other substitutes instead of taking the courses
  which FinCradle provides?
• Naman Jain
• What we are providing are the substitutes,
  actually. These are the substitutes to core MBA
  programs, like when you are pursuing an MBA
  (Finance), you need to put a lot of investment. A
  lot has changed post the pandemic, a majority of
  the MBA graduates are not able to find a job, or
  they are not getting a job, which is up to their
  expectations. If they did it from, say, some
  IIMs, they would want a job, which should pay
  them at least Rs. 25-30 lacs, but they are not
  able to get that. So, all of these things are
  coming up. That is how the charter courses are
  getting more popular.

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Insellers View on FinCradle

• FinCradles primary target customers are students
  pursuing MBA, BBA, B.Com., or other similar
  courses. The charter courses provided by
  FinCradle might also interest students pursuing
  LLB, B. Tech., or other non-commerce courses.
• FinCradle can use traditional online marketing
  channels to create a brand presence on various
  social media platforms such as Facebook,
  LinkedIn, Instagram, etc. It can post regular
  updates on its pages and add a link to its
  website for the interested ones. The presence of
  FinCradle on social media would enhance its
  website traffic. It would also improve the
  overall sales for FinCradle.
• FinCradle may also do student outreach programs
  in its target colleges. It can develop college
  brand ambassadors to increase awareness about its
  charter courses among its target customers. Free
  courses may also be offered to its brand
  ambassadors if they bring a certain number of
  students on board. It would encourage them to
  bring in more sales for FinCradle while also
  getting them free courses.