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Rajesh Agrawal takes Bdaily behind the business

Rajesh Agrawal is the founder and CEO of RationalFX, a foreign exchange and international payments company. He recently spoke at the World Entrepreneurship Forum in Singapore.

1. What key challenges has your company recently faced?

Until now, I haven’t lost my sleep over anything that has happened in business. It’s a journey and I enjoy every moment of it. However, like any business, there are challenges. Our online money transfer product, xendpay.com is in 7 languages and we are adding more languages to it. We developed it all in house and it was fairly challenging – not so much from the technical perspective, but more from consumer experience point of view. We want users from different countries/languages to have an experience which is in line with their expectations.

2. What is your biggest achievement over the past 12 months?

We take a lot of pride in our customer service and not too long ago, one of our clients wanted a foreign currency draft to purchase a property in Italy. By the time we got the draft in our hands to courier it to our customer, it was the completion day for his property purchase. Of course, we did not want out customer to lose his property so we immediately booked our Customer Services Manager on the next flight to Rome and he personally hand-delivered the draft. It was a proud moment for us all.

3. What is your biggest focus for the coming year?

We have worked very hard for over 18 months now to launch Xendpay.com in last year. This year the focus in to enhance the functionality, add more languages/countries and launch a mobile app for it. We want to make Xendpay accessible to our customers regardless of what device or operating platform they are using.

4. If you had to choose one top piece of advice for someone just starting out in business, or is currently operating within your industry sector, what would it be?

You have to believe in yourself and what you would be working on. If you are not convinced in yourself, how can you convince others to put in their 100%? Understand your markets, the competition and be innovative. Think big and have a vision! Man could see the moon and found a way to reach it. So if you can see it, you can achieve it.

5. Can you share with us your view of the current landscape of business, in this region or generally and where your organisation sits within it?

These are difficult times for all us, but this has also created opportunities. We are doing well because we save people money – so we are more in demand in these times than we were in the boom times! Economy cannot always keep on booming, it’s cyclical – so you have to adopt your business accordingly. The businesses that help you save money or help you derive better value for your money are still doing well.

This was posted in Bdaily's Members' News section by Tom Keighley .