“Nothing is impossible in life. If you have the courage, the sky’s the limit. Just trust yourself always. Follow your passion. “__ Nitika Khanna
Nitika Khanna, the founder of Attorney Alliance Law and Advocate at Delhi High Court, has recently shared her inspiring entrepreneurial journey in an interview with Business Upside. She draws her inspiration from a rich familial legacy of legal expertise, particularly from her father, Adv S.K Khanna, a taxation lawyer. Her journey into corporate and commercial law was sparked by childhood exposure to stories of entrepreneurial triumphs achieved through legal acumen. This early fascination led her to explore the dynamic realm of corporate law, where she saw an opportunity to continuously learn, adapt, and actively shape the legal landscape in support of businesses.
Here is the excerpt from the interview:
Business Upside [BU]: What inspired you to enter Corporate and Commercial Law?
Nitika Khanna [NK]: My father (Adv S.K Khanna) has been my inspiration since childhood. He is a taxation lawyer. Growing up, I was exposed to the stories of entrepreneurs and business leaders who used their law knowledge to create successful ventures. This inspired me to explore the field of corporate and commercial law and understand how legal expertise can be leveraged to drive business growth and protect the interests of companies.
Moreover, I was drawn to the fast-paced nature of corporate and commercial law. The field constantly evolves, with new regulations, market trends, and innovative business models constantly emerging. I saw this as an opportunity to learn and adapt continuously and to be at the forefront of shaping the legal landscape for businesses.
Additionally, I was motivated by the potential to make a meaningful impact on the success of businesses. Corporate and commercial law is a field where I can work closely with clients, understand their unique challenges, and provide them with strategic advice to achieve their goals. Being able to contribute to the growth and stability of businesses is incredibly fulfilling for me.
Lastly, I was attracted to the intellectual challenge that corporate and commercial law presents. The complexity of transactions and the need to analyse and negotiate intricate agreements require high analytical and problem-solving skills. This aspect of the field excites me and motivates me to develop my legal acumen continuously.
In summary, my inspiration to enter corporate and commercial law stems from my fascination with the business world, the opportunity to make a meaningful impact, the constantly evolving nature of the field, and the intellectual challenge it presents.
[BU]: Describe a turning point in your career as the Attorney Alliance Law founder that helped define your entrepreneurial journey.
[NK]: One turning point in my career as a founder that helped define my entrepreneurial journey was when I realised the importance of building a strong team and delegating tasks effectively. As a founder, I initially believed I had to do everything myself to ensure its success. For me, client satisfaction is the most important cardinal thing. However, this mindset limited my ability to scale and grow my firm
One day, I was overwhelmed with the sheer volume of tasks and responsibilities. I was burning out, and my productivity was suffering. At this point, I recognised the need to surround myself with talented individuals who could complement my skills and expertise. I started to delegate tasks to my team members, empowering them to take ownership and contribute their unique talents to the business. I started delegating the work, which was one of the best decisions.
This turning point lightened my workload and allowed me to focus on strategic decision-making and high-level initiatives. By trusting my team and giving them the autonomy to excel in their respective roles, I witnessed a significant increase in productivity, creativity, and overall business performance.
Moreover, this turning point taught me the importance of collaboration and fostering a positive work culture. By bringing together diverse individuals with different perspectives and skill sets, we could collectively tackle challenges, generate innovative ideas, and achieve remarkable results.
Since that turning point, I have continued to prioritise team building, recognising that success is not solely dependent on my efforts but on the collective efforts of a talented and motivated team. This realisation has not only defined my entrepreneurial journey but has also been instrumental in the growth and success of my firm.
[BU]: How has this expertise benefitted your entrepreneurial endeavours?
[NK]: I have learned that being an entrepreneur, you must promote teamwork. It allows for the pooling of diverse skills, expertise, and perspectives. When you surround yourself with a team of talented individuals, each person brings their unique strengths and knowledge to the table. This creates a dynamic and well-rounded team that can tackle various challenges and opportunities.
[BU]: As a Legal Advisor and Lawyer, how do you recommend budding entrepreneurs navigate legal challenges?
[NK]: Well, Compliance is key to avoiding legal pitfalls. Entrepreneurs should prioritise compliance with laws and regulations, establish internal policies and procedures, and provide ongoing employee training. By instilling a culture of compliance, entrepreneurs can reduce the likelihood of legal disputes and penalties. Entrepreneurs can engage the services of a qualified legal professional who specialises in business law. This expert knowledge can provide invaluable guidance on legal requirements, contractual obligations, and any potential risks or liabilities associated with their business operations.
[BU]: What advice can you give on effective communication for entrepreneurs pitching their ideas or businesses?
[NK]: Well, it is important to know your audience when it comes to effective communication for entrepreneurs. Understand who you’re pitching to and tailor your message accordingly. Research their needs and pain points to ensure your pitch resonates with them. Also, one very important thing I have learned is to be open to feedback. Listen actively and be open to feedback from your audience. Address any concerns or questions they may have, and use their input to refine your pitch and make it even stronger.
Always remember effective communication combines being clear, concise, engaging, and genuine. Following these tips can increase your chances of successfully pitching your ideas or business to potential investors or partners.
[BU]: Could you highlight a specific success story you are most proud of in your career?
[NK]: One particular successful story that I am most proud of in my career as a lawyer involved my first pro bono case representing an underprivileged individual who had been wrongfully accused of a serious crime. It was my first case. This individual did not have the financial means to hire a lawyer, so I took on the case to protect their rights.
Through meticulous research, investigation, and collaboration with experts, I uncovered crucial evidence that the prosecution had overlooked. This evidence proved the client’s innocence and pointed towards an alternate suspect. With this newfound information, I built a strong defence strategy and presented it persuasively in court.
During the trial, I skillfully cross-examined the prosecution’s witnesses, exposing inconsistencies and raising doubt about their reliability. In addition, I presented the newly discovered evidence that supported my client’s innocence.
Despite facing a tough legal battle, I pursued justice for my client relentlessly. Ultimately, the jury recognized the strength of our defence and unanimously acquitted my client of all charges.
This victory brought immense relief to my client and their family and highlighted the importance of providing legal representation to those who cannot afford it. It reinforced my belief in the power of the law to protect the innocent and ensure a fair and just society.
This story remains a source of great pride for me as a lawyer because it embodies the core values of our profession: fighting for justice, defending the rights of the underprivileged, and making a meaningful impact on people’s lives.
[BU]: What strategies do you follow to stay balanced and productive while playing multiple professional roles?
[NK]: I strictly believe that balancing multiple professional roles requires careful planning, effective time management, and a focus on maintaining personal well-being. I always prioritise my tasks and responsibilities based on their urgency and importance. I recognise the importance of delegation and ensure that I delegate tasks to the team members whenever possible. I maintain open and transparent communication with all the team members so that we can provide better results to our clients. I believe in the importance of continuous learning and professional development.
Also, I have learned one very important thing from my father, Adv. S.K Khanna is that no matter what, always maintain a work-life balance. So, make sure that you are prioritising your physical and mental health. I have learned spirituality from my mother. Mrs. Anita Khanna, which gives me inner strength.
[BU]: Can you share an instance when you encountered a major challenge and how you overcame it?
[NK]: Every case is a new case with new challenges. As a lawyer, I encountered a major challenge while working on a high-stakes corporate merger. The deal involved multiple parties, complex negotiations, and strict deadlines. However, a significant legal issue surfaced just days before the scheduled closing that threatened to derail the entire transaction.
To overcome this challenge, I immediately assembled a team of experts within my firm to analyse the issue and devise a solution. We conducted extensive research, consulted relevant case law, and conducted rigorous discussions to explore all possible angles.
Recognising the situation’s urgency, I reached out to the opposing counsel to discuss the problem openly and transparently. By maintaining a professional and cooperative approach, we could identify common ground and work towards a mutually beneficial resolution.
Simultaneously, I communicated regularly with my clients, informing them about the situation and involving them in decision-making. Their input and trust were crucial in navigating through the challenge.
To expedite the process, I worked tirelessly, sometimes late into the night, to draft necessary legal documents and negotiate with the opposing party. I also leveraged my network to seek advice from seasoned professionals who had previously encountered similar challenges.
Through meticulous attention to detail and a relentless pursuit of a solution, we reached a compromise that satisfied all parties involved. This required creative problem-solving, effective communication, and a willingness to think outside the box.
This experience taught me invaluable lessons about perseverance, adaptability, and the importance of teamwork in overcoming major challenges as a lawyer. It also reinforced the significance of maintaining trust and open communication lines with clients and opposing counsels, even in the face of adversity.
[BU]: What tips do you have to build meaningful connections and partnerships within your industry?
[NK]: Just understand that networking is the key. Actively engage in networking events, industry conferences, and professional associations. You can also collaborate and share knowledge with your colleagues. After meeting someone, try to follow up and stay in touch.
Always remember that building a meaningful connection takes time and effort.
[BU]: What key legal steps should young entrepreneurs pay more attention to when starting a business?
[NK]: Young Lawyers should pay attention to their work ethics, integrity, and professionalism. Treat every client, colleague, and opposing counsel with respect and fairness. Word-of-mouth can significantly and positive referrals can significantly impact the profession.
Also, nothing is impossible in life. If you have the courage, the sky’s the limit. Just trust yourself always. Follow your passion.
Further Details
Website URL– https://www.attorneyalliance.in/
Company LinkedIn URL– https://www.linkedin.com/company/attorney-alliance-law/
LinkedIn- https://www.linkedin.com/in/nitika-khanna-84392011b/
Also Read: Entrepreneurial Journey of Abhilasha Manchanda, the Founder at the Virtual Bliss
