SPARK OF THE CORPORATE
An Indian entrepreneur, a billionaire, Bhavin, the CEO and co-founder of Directi is also the CEO and founder of Flock, Radix, Ringo and CodeChef, and co-founder of Zeta and Media.net. A successful entrepreneur who has travelled a long way in the field of entrepreneurship is Bhavin Turakhia. He is the main person behind the exponential growth of Directi, right from its establishment. Bearing sheer passion and courage, Bhavin has walked the road that was less travelled and was successful in creating a company whose services are spread across the world, turning out to be one of the leading service providers. Being a tech entrepreneur and by carrying more than 17 years of technology experience, Bhavin has a better understanding of the internet industry and with a strong technical background, is passion towards the business, and thus have a very definite and clear vision for the future.
Early Career ...
After schooling, Bhavin joined D G Ruparel college for studying science and he has been graduated his bachelor’s degree in commerce from Sydenham College of Commerce and Economics. In his too early years when Bhavin was in his school that he could identify his passion towards computers and started exploring BASIC and other languages. In his school days only, Bhavin has coded a stock market simulation game, which enabled to keep track of the stock prices. At his early age of 18, Bhavin started his career with capital of 25,000 rupees and founded Directi, his first tech venture along with his brother Divyank Turakhia. Presently Bhavin operates Flock, Ringo, Radix and Zeta.
Bhavin started Directi along with his brother in the year 1998, which has an employee base of about 1500 with 9 million customers and offices at Mumbai, Delhi, Bangalore, New York, Los Angeles, Ras Al Khaimah, and Zurich. The company now generates revenue of more than $250 million dollars per year and the group enterprise value is about $1.4 billion. 11 different business units boast under the umbrella of Directi.
His entrepreneur journey ...
Bhavin is such kind of a rare person, having his own style of leading by involving himself in each and every department including marketing, business and production. Bhavin keenly observes all the features and rectifies what exactly need to be built. Bhavin has set up all his Directi businesses with bootstrapped thus avoiding external investments and debts. This turns the business to be more profitable generating healthy cash flows and huge profits. By this strategy, all the businesses of Bhavin have been immensely successful, thus Bhavin has made something uncommon occurrence in the startup business environment.
According to Bhavin, the only way to beat the competition is by running harder. The working style of Bhavin has enabled to lead the success path in his life. Bhavin usually works for 90 hours per week, 14 to 15 hours per day in week days and in weekends, he work for 10-12 hours. This replicates the commitment of Bhavin.
It can be said that vision that has driven the venture is the main reason behind the incredible success of Bhavin. Directi is into development of innovative web products serving millions of customers. Bhavin has developed Directi into one of the fastest growing companies providing software services. havin has started two innovative business units of Directi – ResellerClub and LogicBoxes, which has developed as the leaders in their respective industries.
Challenges faced ...
At the initial stages of business, Bhavin has to face many challenges with respect to collection of overdue payments from the clients. This Bhavin could successfully manage by spending almost half of his time for following up, no matter any number of times, with waiting for long hours.
Being a constant leader, Bhavin always believes that each and every day spent in Directi, he has something to learn, which assist him in his personal growth. Bhavin carries with him more than a decade of experience, which he opines is more valuable than any classroom learning.
In the first year of its setup and in the first quarter itself, Bhavin was able to make enough of turnaround, which was used for them to pay back their loans and sustain for the rest of the quarters. The growth trend recorded 20 – 30 times growth in the initial years. There was no looking back in the history of Directi, lead by Bhavin.
The huge success of Directi has transformed Bhavin as a visionary and inspirational leader to most of the budding entrepreneurs. In spite of tremendous growth, success and recognition, Bhavin always believe in encouraging a quick and agile startup culture at Directi, thus enabling a proper balance between authority, responsibility and flexibility.
The strong business skills accompanied with a complete knowledge about the technology and industry along with better understanding of the trends in the market has helped Bhavin in making Directi to lead the market by its services. Bhavin feels and his experience say that for any business to succeed, companies should look out for the best talent pool and equip them with the all the relevant technology updates.
The main fundamental idea of Bhavin is that it is the moral obligation to create a direct impact on the potential. Hence the actions which he does in his life are on the basis of the desire to create a huge impact for the life. And his suggestion for an entrepreneur to succeed at t very faster rate is to focus on the concept of creating value. Bhavin shares the fundamentals on how to spend the money. According to him, money should be first spent on the Ps of marketing in the order of People, Product and Promotion.
When asked for the reason behind the speed of his business spreading across different countries, Bhavin says that his style and way of choosing an area is mostly driven by the important thing – innovation. Bhavin picks the areas which have not seen innovation for a long period of time. Those spaces are identified and chosen where a gap exists, according to Bhavin.
The future plan of Bhavin is to transform Directi as the largest product development company in the field of internet. In order to enhance the endeavor in capturing the global wide markets, Bhavin is working on developing and establishing strategic alliances with many international companies.
In the words of Bhavin, the principles that stands instrumental in building a successful business –
• Identify the right person with the best and suitable talent always lead to achieving perfection.
• The most instrumental success is to hire only those who can meet the potential.
• All the employees must be clear about the vision of the company, only then they will be willing to share the responsibilities of the leader.
• Always be flexible enough to accept any deviations from the main course of activity, if any.
• Maintaining a track of the business score board enables to measure the business metrics and have a close look at the variable insights.
• Employees along with the leaders should be aware of the consequences that arise by the actions that are being taken.
In his formative years, Bhavin has read about nearly 100 biographies of successful businessmen and entrepreneurs, and this emerged his passion towards entrepreneurship. Bhavin is also speaker who speaks very frequently in various seminars, conferences and business events with respect to technology. Bhavin has contributed a number of noteworthy papers on the subjects related to e-commerce and technology.
Awards and accolades...
|In the year 2016, Forbes ranked Bhavin as the 95th richest person in India.|
|Entrepreneur Magazine has awarded Bhavin as Serial Entrepreneur of the Year and Entrepreneur of the Year in the field of Innovation and Technology, in 2016.|
|In 2016, The Economic Times has awarded The ETPanache Trendsetter Award.|
|World Economic Forum has honored Bhavin as the Young Global Leader for the year 2011.|
|Bharti Foundation along with the Entrepreneurship Development Institute of India has awarded Bhavin with Bharti Entrepreneur of the year for 2005.|
|Bhavin has been identified and served as the Chairperson for Internet Corporation for Assigned Names and Numbers.|
|Under the leadership of Bhavin, the Directi Group was ranked 10th by the Deloitte Technology Fast 50 India program.|
|Directi was recognized as the first and the only Indian company which gets an ICANN accreditation.|
Two cents for future entrepreneurs...
|Budding entrepreneurs should concentrate more on toning of the product rather than changing the market.|
|A successful professional turns out to be an entrepreneurial, only when he keenly observes and completely understands a particular market, differentiating him from the breed of routine entrepreneurship.|
|Risk taking should be considered as taking the risks in the current choices and giving up the security in the choices that are abandoned.|
Hope readers caught up the spark...