"Focus on Creating Value Rather than Profitability; To Do Well in the Long-Run!"- Bhavin Turakhia
Currently, the complete focus is on our existing business i.e. Flock, Zeta, Radix, and Ringo. We have stated earlier as well that we have committed USD 110 million in the existing businesses for the current and the next financial year.
BWDisrupt interacted with Bhavin Turkhia,CEO and Founder, Directi; on the recent developments when Bhavin and his brother Divyank made their debut this year into the Forbes annual list of ‘India’s 100 Richest People’. Excerpts from the interview:
How do you manage multiple ventures and what challenges have you faced in your journey to become Super Rich? I am deeply involved in the management of my business ventures. All my different business ventures run at a different pace, so I prioritise my time accordingly. Although, it is the people at Directi that make the main difference. They are amongst the best in the industry, and I enjoy working closely with them to strategize and strengthen our business models.
I started out back in 1998 and have seen the dotcom bust of 2000 and the 2008 meltdown. Having seen such global downturns and still being able to build successful businesses over the years, the challenges never really bogged me down. Your fast tracked success has brought a lot of amazement since your ventures grew organically without any investment. Please share your success mantra. I have always believed in creating value. If you are able to provide value to the consumer, success will follow. Currently, a lot of focus is on valuation rather than profitability and for a business to succeed in the long run, it has to be the other way round.
Do you have anything in mind on the lines of acquisition/mergers or sale offs post Media.net? As of now, there are no plans for any acquisitions or mergers. The current focus is on building the existing businesses.
What advice you want to share with the emerging entrepreneurs to become billionaire at a very young age? There are a few things that any entrepreneur needs to do or should follow: ● Know the business in and out before starting up ● Build value and not valuation ● First, spend money on people, and then spend money on marketing
What are the future plans of Directi in 2017? Currently, the complete focus is on our existing business i.e. Flock, Zeta, Radix, and Ringo. We have stated earlier as well that we have committed USD 110 million in the existing businesses for the current and the next financial year.