“I find a larger meaning and fulfillment in life when I am the reason for someone’s happiness,” says Kriti Makhija, Chief Financial & Compliance Officer, BCW India, advisor NASSCOM Community, Rotarian, and a partner & mentor at STEP.
An exceptional and empathetic leader, Kriti has been a part of BCW for the last 22 years. She is one of the 11 CFOs featured in Nidhi Aggarwal’s book ‘Women CFO stories‘.
An exceptional professional Journey
Before joining Genesis, Kriti worked in Max Ateev and PWC.
“When I started as a CFO of Genesis, I did not know anything about being a leader,” she says.
Makhija attributes her success to her mentor, Prema Sagar, Principal &Founder of Genesis, Ashwani Singla, CEO of Genesis at the time she joined, and her team.
“I prepared well, learned, worked hard, and remained aligned to my core values” she adds.
When Kriti joined, Genesis was a private limited company. It went under due diligence, acquisition, and integration within the next 7-8 years. All that required her role to evolve.
“There is a great opportunity for learning, personal development, and improvement when roles get redefined,” she says.
Subsequently, Makhija mentored also added more responsibilities within WPP and became the CFO for PSB, (Now called PPR)AKQA and now Six Degrees BCW, mentored and incubated new business units that are now thriving growth engines for Genesis Foundation, volunteered at Genesis Foundation, and got involved in acquisitions, IT, HR, and compliance.
“It has been a roller-coaster ride, and I have loved every bit of it,” she says.
She feels that Genesis has an empathetic organizational culture for employees, as they are respected, empowered, rewarded, and most importantly, continuously learn. It has a 60-70% women workforce.
“I am blessed to be a part of this work family that embraces diversity and has a growth mindset,” she says.
In her role as a CFO, Kriti has always ensured that ethics, governance, and integrity are infused into the constantly evolving financial system, keeping in mind the financial well-being of the organization and the stakeholders.
“With an ingrained growth mindset, I do not let complacency set in and embrace new technologies, systems, and global innovations,” she adds.
The NASSCOM experience
The National Association of Software and Services Companies (NASSCOM) is a not-for-profit Indian consortium created to promote the development of IT and business process outsourcing (BPO) industries.
“NASSCOM community is an open knowledge-sharing platform for the Indian technology industry where we discuss the latest technologies, the impact of policies and changing markets, monitor trends, interview industry leaders, put the spotlight on brilliant startups and ideas, and enable collaborations between members,” she explains.
NASSCOM is at the helm of the latest global tech Innovations. Kriti believes that technology is a game changer in the present times as it enables businesses to have cutting-edge technology to ensure frugality, sensibility, speed, and security.
Kriti enjoys her advisory role, interacting with people from various fields, participating in panel discussions, reading the latest on the community, and sharing her thoughts.
With a membership of 16000+ users growing by the minute, Community by NASSCOM Insights is one of the leading online tech communities in India today and is a melting pot of ideas, innovation, and learning from conversations and reports around wide topics that influence the way we think and operate. It brings Ideas, Insights, and Conversation.
Another advantage is that NASSCOM has huge partnerships with think tanks and large organizations.
“It has been a great opportunity to learn and contribute,” she adds.
Experience as Rotarian
Makhija recently received the “Rotarian of the year” and the “Best Honorary Secretary” award.
“Rotary is the culmination of my journey of giving. It has been a very satisfying and rewarding experience,” she says.
In her tenure as a secretary, she has impacted countless lives- 638 projects, scholarships and mentorship for 300+ girls, palliative care and rehabilitation of those impacted by leprosy, gift of life surgeries for 35 children from underprivileged backgrounds, 60000 trees planted, and 45000 covid vaccinations.
“The awards and laurels are important, but the impact of the work matters the most,” she adds.
Prerequisites of a Strategic business plan
Kriti believes a strategic business plan is essential for the establishment and growth of businesses. It helps structure the short-term and long-term vision of an organization. The key points an entrepreneur needs to analyze before framing the plan are:
- The problem you wish to solve- Your raison d’etre
- What is your reality- The present situation of your business
- Where you want to be The vision or goal
- How will you get there-Steps to reach the goal?
To frame the plan, an entrepreneur needs to
- Understand the space.
- Collate all possible information.
- Work on strategy formation.
- Support it with an operational and business plan.
It also involves identifying the customers, marketing strategy, customer acquisition, and tech strategy.
The advantage of a good plan is that it helps entrepreneurs get a holistic view of their Why, What, and how – the problem they wish to solve, vision, mission, the problem that needs to be solved, the solution created, and the services rendered by the organization.
“It is important to ensure that the plan is mildly optimistic but realistic,” she adds.
Tips for Entrepreneurs
Kriti shared her insights on different aspects of leading an organization.
Financial planning
- Build your savings.
- Be frugal.
- Do not be over-leveraged in personal finance.
- Prepare a budget forecast- Monitor progress. Reevaluate budget periodically
- Understand your cost.
- Understand loans, taxation, and cash flows.
- Have an efficient financial consultant.
“For founders, ensuring the financial well-being of their organization is important, as poor financial performance makes the customers, lenders, and investors lose faith in them,” she adds.
Building a great team
- Reward the individual and celebrate the team.
- Hire for attitude, not degrees.
- Lead by example.
- Believe in yourself and your team.
- Seamless Integration and collaboration is the key- Hierarchy should only be for approvals.
- Be open, be accessible.
- Do not prescribe. Share your thought and let them evolve.
- Keep challenging them with new roles.
“To be a leader, one cannot put themselves ahead of the team. Accountability, responsibility, and flexibility are the mantras to building a great team,” she adds.
Social media etiquettes
- Know your audience and purpose.
- Create posts that add value.
- Be responsive to people who reach out.
- Be interested, not interesting.
- Keep the personal stuff separate.
“One small slip on social media can hit your brand, so entrepreneurs need to act diligently,” she adds.
Advice to women entrepreneurs
- Focus on your capabilities.
- Be fearless and patient.
- Learn from your mistakes.
- Keep working towards survival.
- Identify a gap or problem, and weave technology into the solution.
- Have a focused marketing strategy, business plan, and financial plan.
- Have a mentor and ask for help when needed.
- Road-test your idea.
- Build a strong network.
- Build a team that shares your vision. Be the face of your organization.
“Women need to shift their mindset. Think capability, think the solution, think strength, not gender. Treat challenges as opportunities and take the leap,” she adds.
The STEP experience
Makhija is a partner and mentor at STEP. She believes that it is doing a great job at enabling and inspiring people.
“I was so excited to be a part of STEP that it is the first role I applied for,” she says.
She feels that the concept of women supporting women and becoming a more prominent tribe is a significant step towards gender equality and women empowerment. She applauded the STEP team for its efficiency and professionalism.
Recently, Kriti was a panelist at WINGS Challenge.
“It was an engrossing event with insightful and inspiring conversations. I loved being a part of it,” she says.
Kriti feels women’s entrepreneurship in India needs to develop and admires STEP for its efforts in this direction.
“I am delighted to be associated with STEP and wish to do more,” she adds.
Kriti, the person
Kriti is a warm and empathetic person with a radiant smile that instantly draws people toward her.
She attributes her success to the support of her late father, her various mentors through her journey, and her outstanding team.
Sitting on the beach sipping tea and reading is her idea of relaxation.
“If you are offered a seat on a spaceship, do not ask which seat- Get on it,” taking from Sheryl Sandberg, she reflects.