Celebrating Entrepreneurship: Tibetan Enterpreneurs are creating great enterprises
28 year old. Investor turned entrepreneur. First Tibetan e-broking house among Tibetans. Winner of Business Plan Competition (TechnoServe organized USAID funded). Passionate and ambitious towards business. This is Tenzin Kunchok, founder of Lhasa Capital (a partner of Angel Broking.
"1 week training at SP Jain Institute, Mumbai as part of the ETB program has been very helpful to give me a broader picture. Now I aim to serve all the Tibetan community in India in next 3-5 years through Lhasa Capital."
Tenzin Kunchok, a Tibetan refugee based in Gangtok who is a veteran investor himself, identified a great business opportunity which none in Tibetan community has tried yet. He believed that Tibetans need to be more financially aware and diversify their savings out of traditional fixed and savings deposits into avenues which can yield higher returns. With this vision he started e-broking business and took franchise of Angel Broking in Gangtok. He could set up the business despite holding a regular job with help of Rakesh – an experienced trader.
Today company provides equity and commodity trading platforms, derivative products, and currency trading services. In a short span of 1 year, the team has grown from single customer to 100+ customers. Pure passion and consistent hard work has led Kunchok to this milestone. Now Kunchok is his own BOSS and confident enough to leave his regular job for the love of business. He has plans to create fantastic job opportunity for Tibetans and serve Tibetan community. After ETB training the firm has been able to open two new offices one each in Cooch Behar (West Bengal) and Delhi (Majnu ka Tila).
In Kunchok's words "Delhi office launch event in Majnu Ka Tila on 24th February 2013 was a big success. With this launch, Lhasa Capital became the first brokerage house in the Tibetan commercial hub – Majnu ka Tila, Delhi. Dorji Dewatsang (Director, Mandala Construction), was the Chief Guest for the event. Dorji La expressed his happiness at the launch and welcomed more Tibetan youth to try their hands at entrepreneurship. Sonam La, TCC Chairman also came to support the event. The launch event was attended by more than 15 guests who are renowned entrepreneurs in MT. For Delhi office we have partnered with Thupten Jampa, owner of Earthlink Tours and Travels, and expecting 20-30 new accounts in next 2-3 months"
As per Tenzin Kunchok, "In next 5 years Lhasa Capital will expand aggressively in North East as well as various Tibetan settlement areas across India. Lhasa Capital will continue put more effort to educate Tibetan investors to participate in India's growth story."
Hiring and retaining right talent has been a major challenge which the company has faced. With the new recruitment strategy, now the firm attracts applicants from top notch colleges. The company has also partnered with TechnoServe's career centers for filling vacancies.
In the last two months company was able to generate healthy 5-6% returns per month for many customers. Company is generating good cash flow and willing to grow aggressive towards expansion. The company's focus to personalized service to customers has led the firm to become preferred broking house in Gangtok. Company has aggressive marketing plans (website launch and customer training workshops) and hiring plans for rapid business expansion. Powered with strong commitment and an aggressive approach, Lhasa Capital team is looking to develop long term relationship in Tibetan community. We wish them all the best!