Ques 1. Could you please give a brief introduction of yours?
Answer: I'm Parth, a resident of Delhi. I'm currently pursuing B.Sc Computer Science at SSCBS. Alongside my academic pursuits, I hold the position of Director of Finance of IFSA network SSCBS, Indian HQ of IFSA Network (the world's largest student run finance organisation). Previously, I've interned with Devyani International Connect Ventures. I've also been a part of multiple projects at Vodafone, Idea, Acko Insurance, and Vedantu. I have also participated in various case competitions where I've achieved notable accolades, including being the top-ranked participant at IIM Ahmedabad's flagship competition. Apart from that, I represented the sole undergraduate team to secure national podium positions at esteemed institutions like IIM Bangalore and IIM Indore. Internationally, I was honoured to be the sole undergraduate team qualifying for Cornell University's top five, earning an all-expenses-paid trip to NYC. In addition to my professional pursuits, I enjoy activities like gymming and socialising. Regarding your question, indeed, I've participated in a multitude of case competitions, as well as trading and commerce-related events.
Ques 2. Could you please give an overview of the most challenging case you've worked for?
Answer: The most challenging case was the one I encountered at a competition in IIM Ahmedabad, wherein over 4500 teams from universities across India participated. The competitive environment at IIM Ahmedabad was intense from the very beginning. The task allocated to us was to revamp Costa Coffee's entire presence in India, a significant challenge that required innovative solutions.
Navigating through the plethora of options and potential strategies, such as emulating Starbucks' approach in Chennai or establishing a corporate office like Costa Coffee's competitors, was quite overwhelming. Aligning our ideas with Costa Coffee’s goals was a significant hurdle by simultaneously ensuring financial feasibility. It became evident to us that many participants focused solely on proposing solutions without considering the practicalities and financial implications from the company's perspective.
During the competition, the last three days were pretty exhausting. We worked tirelessly offline, working for 48 to 50-hour shifts, while we sacrificed our sleep schedules in the process. Our priority was to emerge with the feasibility of our ideas, dedicating 80 to 90% of our efforts to this aspect and the remaining 10% to refining our solutions.
Overall, this experience highlighted the importance of balancing creativity with practicality.
Ques 3. Could you please elaborate on any specific strategies you employ in order to come up with refined solutions?
Answer: in order to address Costa Coffee's financials, I took a strategic approach focusing on innovative initiatives like "Costa x Bumble" weekend getaways for couples at Costa Coffee centres. Instead of traditional financial statement analysis, I used a market sizing methodology, while utilising the Tamsam framework - Total Addressable Market, Service Obtainable Market, and Service Addressable Market. This approach involved estimating offline Bumble dates and Costa Coffee's penetration in tier one cities, as I initiated a pilot campaign in these areas.
By analysing the number of potential Bumble dates going offline and Costa Coffee's weekend foot traffic, I assessed market penetration and competitive dynamics against brands like Starbucks. Through guesstimates, I projected additional revenue from our campaigns and broke down costs into fixed and variable components. Our presentation was originally planned as an 8 slider, expanded to 42 slides, with detailed guesstimates and Excel sheets spanning 30 to 40 pages.
This thorough analysis ensured an in depth understanding of the financial implications of our initiatives, with potrayed feasibility and strategic foresight in our approach.
Ques 4. How do you handle pressure and deadlines in intense competitions, staying composed amidst tight timelines?
Answer: My passion drives me forward despite the demanding nature of these competitions. Although my background is in BSc Computer Science, my fascination with this subject led me to immerse myself in this field. Participating in competitions is indeed hectic, with the pressure to deliver results within a tight timeframe.
For one, balancing competition commitments with academic responsibilities can be challenging, especially considering the attendance requirements at Delhi University. To manage, I often do multitasking during classes, utilising every spare moment to work on competition related tasks. To me all-nighters are sometimes unavoidable, but I prioritise maintaining good health and seeking mentorship from supportive seniors.
My seniors played a crucial role in providing right guidance and feedback, even during late-night review sessions. Collaboration within the team is vital for success, especially in competitions like IIM Ahmedabad. I consider myself a team player, but I also take on leadership roles in certain aspects.
While leading a team, I follow a specific criteria which was shared by a senior mentor. Which includes having a financial expert for handling Excel, a proficient PowerPoint creator, a critical thinker to address potential challenges, and a research expert who is skilled in sourcing right amount of credible information from reputable sources like the Big Four reports or Goldman Sachs insights.
For me, finding the right team dynamic requires experimentation and collaboration. I've explored various team compositions throughout my journey. As I embark on my final case competition at Harvard, I understand the importance of finding the perfect team match to maximise our potential.
Ques 5. How do you effectively manage teams and allocate responsibilities and roles within the team?
Answer: When it comes to either managing case competitions or overseeing responsibilities in my society's positions of responsibility (PORs), my approach to leadership involves breaking down tasks into manageable components.
So for instance, while addressing a client's problem, like Costa Coffee's declining profitability, I adopt a structured approach. Firstly, I delve into industry analysis, examining the landscape to understand the broader context. Secondly, I explore my competitor strategies to identify potential insights for the same. Then, I focus on internal analysis, assessing our strengths and weaknesses. Post this, I delve into financial analysis by evaluating the market size and potential solutions.
Also, to ensure efficient management, I divide tasks into teams, each responsible for specific sections of the project. Within each team, I designate a leader who supervises the progress and ensures it's alignment with our overall aims and objectives. This approach facilitates effective collaboration and ensures that each aspect of the project is thoroughly addressed.
Ques 6. How would you define your achievements?
Answer: Since day one, my goal has been to establish credibility within my professional network, and case competitions have played a significant role in achieving this. For example, during my internship at Devyani International, I directly approached the CEO after winning a competition. Our discussion about Costa Coffee led to the opportunity for my team and me to work on projects with the company without really requiring being a part of extensive screening processes. This transition into a paid internship with a company generating significant revenue introduced me to the networking opportunities that case competitions offer.
For me, success in case competitions extends beyond winning awards. It's about leveraging these platforms to build valuable connections and secure internships or projects. In my experience, judges in these competitions often hold influential positions in various organisations. By presenting our ideas and emerging victorious, we've been able to establish meaningful connections that have led to internship opportunities.
While I believe that prize money is certainly a bonus, we generally receive it several months after the competition. I feel that the real value lies in the connections I get to make and the opportunities that arise from them. Ultimately, my success in case competitions can be measured by the professional relationships and opportunities that I've gained rather than solely by prizes that I've won.
Ques 7. Well, as the Finance Director of IFSA, what duties and responsibilities do you have?
Answer: My role as the Finance Director of IFSA consists of various responsibilities. Firstly, I oversee the IPSA Investment Fund, a student-pooled investment fund where we manage the society's funds accrued through life projects and other activities. This task involves daily trading and monthly investments to optimise our returns.
Additionally, I'm involved in heading collaborations like the recent partnership that we had with IIT Kharagpur to establish an investment forum, which we plan to expand nationally. Furthermore, I manage IFSA Insights, a platform with a good amount of following where we disseminate credible reports and articles, keeping our audience informed about upcoming financial news and trends.
Moreover, I'm responsible for leading finance-related projects, including equity research initiatives that come our way through company partnerships. My role revolves around ensuring the efficient management and growth of IFSA's financial resources while also facilitating educational and networking opportunities within the finance domain.
Ques 8. What have you learned the most throughout your journey as the Finance Director?
Answer: Throughout my tenure as the Finance Director, the most significant lesson I've learned is the weight of responsibility that comes with managing other people's money. It's a profound realisation that the financial decisions I make directly impact the trust and expectations of the 30 or 40 individuals relying on me. This realisation has emphasised the importance of competence and diligence in my role.
Moreover, delegating tasks has been another crucial aspect of my learning journey. By entrusting my juniors with responsibilities such as creating equity reports, I not only foster their growth but also enhance efficiency within the team. Additionally, initiating a finance boot camp to educate juniors from scratch to a proficient level in financial markets underscores my commitment to preparing them for the future.
Ultimately, this experience has instilled in me a profound sense of accountability and the determination to excel in managing financial resources entrusted to me.
Ques 8. You're also the founder of GoldFib Capital. What inspired you to launch this initiative, considering it's quite unique and different?
Answer: GoldFib Capital is indeed a financial markets research house where we develop strategies and conduct backtesting and analysis. While I'm currently unable to manage institutional funds due to legal constraints, my ultimate goal is to offer investment management services in the future.
The inspiration behind GoldFib Capital stems from my personal experience in the financial markets, starting from my time in class twelve. Like many others, I was initially optimistic and passionate about trading. However, I learned some harsh lessons after losing 80% of my capital, which led me to realise the importance of credible financial education
I observed a lack of accessible and affordable formal education in financial markets, with most resources either lacking credibility or being prohibitively expensive, such as the CFA program. This gap motivated me to establish GoldFib Capital with the aim of providing credible financial education and insights at a low cost or even pro bono basis.
While GoldFib Capital is still in its early stages, my vision is to contribute towards improving financial literacy by disseminating reliable information and empowering individuals to make informed financial decisions.
Ques 9. How do you manage your academics along with your passion related pursuits?
Answer: To be candid, I've experienced my fair share of burnouts and days where I struggle to find motivation. There have been moments of letdowns and anxiety that have tested my resolve. However, the sense of responsibility I feel towards the various projects I'm involved in and the people relying on me keeps me driven.
Integrating a consistent gym routine into my schedule has been instrumental in instilling discipline and starting each day on a positive note. Additionally, I'm fortunate that most of the activities I pursue align with my passions and aspirations, which serves as an intrinsic motivator.
Unlike individuals stuck in academic courses they don't resonate with, I've been fortunate to have found a college and extracurricular opportunities that provide the exposure and fulfilment I seek. Despite experiencing burnouts, I'm grateful for the opportunities and driven by the inner desire to pursue meaningful endeavours, even during challenging phases.
Ques 10. What message or advice would you like to give to your juniors or other students who aspire to be high achievers in this field?
Answer: My advice to juniors or any students aspiring to excel in their field is to prioritise reaching out and learning from others, regardless of their college or course. Don't hesitate to cold email or message seniors to glean insights and opportunities from their experiences. Utilise platforms like LinkedIn to network and optimise your professional presence. Remember to take breaks and prioritise your mental well-being to avoid burnout. Maintaining a social life and incorporating regular workouts can greatly contribute to your overall well-being and success. Working on your mental space will undoubtedly yield remarkable results in your journey.
HIGHLIGHTS-
●Global Top 24 in McGill International portfolio challenge
●Global Top 5 in Cornell Emi Case competition
●National Rank 2 in Finopoly - Atharva Ranbhoomi
●National top 8 in Aagaz - B-plan competition
●National winner - Armageddon
●Global Top 8 in global microfinance case competition
●National Winner - Creative Commerce case competition
●National Winner - Bulls and Bears - Finwizz
●National Rank 4 in Investment Odyssey Competition
●National Winner - Deem Dilemma
●National First runner up - Margin Call
●National winner - dare to venture
●2nd runner up - equity bazaar competition
●Finalist - Commercio crypto trading competition
●Finalist - Book Review Competition
●Global Top 25 - Portfolio management case competition - MIPC
