Jitendra Gianchandani, Chairman and Managing Partner of Jitendra Chartered Accountants, a division of Jitendra Consulting Group, is living proof that failures are not setbacks, but stepping stones to success.
The early parts of Gianchandani’s life were not as favorable and could have easily doomed a person of less fortitude into oblivion. But not this man on a mission from Kutch, Gujarat in India. He dropped out of school after he scored poorly in the science stream during 10th grade and failed to obtain admission to the diploma in civil engineering that he and his family were hoping for. That didn’t stop him though, determined as he was to make a good accountant of himself. He eventually went for a commerce stream which he successfully completed and led him to being a chartered accountant in 1996. He immediately set out for Dubai to search for greener pastures.
He found a job but was terminated owing to some disagreements with the management. He wasn’t a “yes” man and was vocal about the challenges he was facing as an accountant working on one of the company’s “foreign” accounts based in Europe. He was let go, allegedly because of poor performance, but his replacement confirmed his opinion, so it turns out he was right after all. But being employed didn’t seem to suit this man who was not only a hard worker, but a smart one as well. He resigned in December 2001 to set up his own practice, Jitendra Chartered Accountants, which began as a small operation at a 200 square feet office in Dubai.
“Dubai was undergoing massive transformation during this period and was witnessing dramatic growth. If my company focused solely on local clients, we would not have survived. So I decided we would cater to foreign expatriates who were at that time beginning to look for setting up business in the upcoming free zones and buy properties in Dubai as it had just introduced the concept of freehold properties,” Gianchandani recalled.
He also commissioned an IT expert who helped him establish a strong presence online that enabled him to reach out to a broader audience. Six years later, his tiny office grew 20 times bigger to accommodate his growing empire in Dubai and other emirates.
Today, Gianchandani’s accounting business has grown into an empire providing a wide range of services, such as business advisory, accounts outsourcing, liquidations, corporate finance, tax and AML compliance services, trademark, patent and product registrations.
“The UAE introduced many changes and we as a company adopted well by putting together important services that entrepreneurs and business owners need under one roof. That’s our USP and that is our support and commitment with the client, from incorporation of a company to bookkeeping and auditing and getting bank finance and complying with VAT and other AML regulations and registering product and trademark until the liquidation of the company. We walk hand-in-hand with the client, that’s how we stand out,” he added and said plans are in place to broaden their services in the UAE, and then expand as well to Oman and Saudi Arabia.
“Nothing happens overnight. I have had many U-turns in my life that I was able to turn-around to get to where I am. My wife and my both children are my pillars of strength; and I am empowered and whatever I have achieved is because of their presence in my life and continuous support of my team. They all inspire me to work hard every day,” said Gianchandani, who is now, aside from being an accomplished accountant and entrepreneur, a published author of two English books as well — ‘The 3-U Turns of My Life’ and ‘The Three Wise Monkeys’.
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