COLUMNS • MY BUSINESS
Dave dials-up standards Rachana Dave, boss of 0800RACHNA, tells TMM about thriving as a migrant woman in a male-dominated profession, hosting a radio show, and meeting Jacinda. BY DANIEL DUNKLEY
Tell us about your background: What prompted you to go into the mortgage advice business? I came to New Zealand as a migrant 16 years ago. Entering a profession that was maledominated, the demand of working after hours and at weekends was the most challenging for a family-oriented woman. From working in a supermarket as my first job, to becoming the first Indian woman to receive Best Mortgage Adviser at the Indian Business Awards, and 028
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receiving an award from Prime Minister Jacinda Ardern in 2018, it has been a challenging but rewarding journey. Working for ASB Bank for over eight years helped me to understand lending, product knowledge, credit criteria, that helped me as a mortgage adviser. I started as a mortgage adviser in July 2014 as a one-woman army, and now we are a team of 10 people.
How did you go about learning the business? And how did you find the process? I had a very simple, basic, and yet very effective business plan in place. I come from a family of business owners, so I had basic understanding. I had a thumb rule that in my first five years of business, I had to grow by 24% year by year. I’ve achieved that goal to-date. I strongly believe in writing my goals down. I keep a very close eye to make sure I am on track with my business plan.
Tell us about your business and why you are passionate about being an adviser. My vision is to build a top financial advising enterprise providing quality services and make a difference in the community. I educate clients on how to create a property portfolio and secure a better financial future. I help my clients confidently start their journey from
being a first home buyer to becoming the owner of multiple properties in 15 years. My business is mainly focused on residential home lending and construction loans. We ensure we protect the clients by looking after their personal insurance needs as well. The smile and satisfaction on my clients’ faces when buying their first home keeps me going and reminds me why I am in the business.
How do you approach business differently to other advisers? I have always focused on how I want to make a difference in the community. I [also] focus on giving honest advice and want to make sure I have a 15-year journey with my clients, and not a oneoff transaction. I focus on creating $3.5 million of net worth for my clients in this 15-year timeframe. My focus is to understand the client’s requirements and to provide a solution. Therefore revenue only becomes the byproduct in the business.
Is there a particular area that you specialise in? I specialise in first home buyers, construction and developer loans.
Tell us about your radio show. I have been doing a talk show to give insights on residential lending and market updates. I conduct seminars every
