By @. Divyank Turakhia’s story is fairly well documented now, but it is impressive to realise that he is still only 34. We caught up with him at unBound London, and had an interesting and insightful chat with him after he finished his onstage conversation with another one of our past interviewees Monty Munford.
Divyank is familiar with Ireland, having been here for a series of years to attend F.ounders events in the years when it took place along side the now departed Web Summit. Whatever the pros and cons of the Web Summit’s relocation to Lisbon it is clear he enjoyed his time in Ireland. To hear Divyank reminisce fondly about the time when he was in a small room in Dublin with Jack (Dorsey) and many others who have gone on to run globally significant companies, is a reminder of when small was beautiful and the value that the Web Summit did bring to Ireland, back in the day …
Talking with Divyank now, it is clear you are in the presence of someone who is super focused on what is, and is not, relevant of their time and attention.
— unbound Global (@unboundglobal) December 7, 2016
Divyank was in London to speak at the unBound event, whose theme was ‘connecting brands with innovation’. When asked what his significant influences were, he was emphatic that education had been the prime enabler for him, in helping to give him the tools to build his subsequent businesses. The first of these he developed at the age of 14. “By the age of 23 I realised my companies were worth €100 million. Now I am 34, and I have created companies worth a billion and more. I want to use my time and talent to ensure that I make another billion or more and then use this to achieve the maximum benefit in helping others when the time is right. For now however I believe you must focus on one thing at a time.” This was part of his explanation of when, and how he plans to use his resources to help achieve wider global good. “I believe that my talent is in ensuring that the platform is efficient, once this is achieved then all the other money that is spent on aid will be more effectively used”.
We asked him who is sources of inspiration were. “There are many great people, who have done great things. It is important however to look at all of these people and what they have done, and take the elements that will work best for you. Everyone is unique, as is every business challenge, so it is important to filter this advice. When you are starting out, lots of people will give you advice, but it is not all relevant to your business. Being able to filter this advice is really important. Then it is important not to wait, don’t wait till the time is ‘right’, it is better to begin, get started and then focus on executing better. If you can do this you will succeed”.
In keeping with the panel we moderated earlier in the day we also asked Divyank when it is time to kill a project. “Firstly if it is making money, profitably, and if the ROI is higher than the other projects then I will keep it going. Then however if it is not scaleable, and something else is, then it is time to look at the other options. It is always a case of looking at what is capable of making the most money (actual profit, not just revenue) and then making that decision”.
It is clear from talking with Divyank that he is super focused on staying on top of what is best for the business, and being aware of new and changing opportunities. When asked about the Indian Prime Minister’s decision to take the smaller rupee notes out of circulation he was circumspect. “Decisions like these always create opportunities, it is simply an opportunity for those who can see a way to make the most of it”. In asking him how he dealt with so much information coming in, he outlined that he has a number of personal assistants who keep him in touch with everything. “But nobody decides my schedule except me. Right now, I will decide on whether I go to the US or Asia based on some information I am waiting to hear about. Once I know, and I decide where the greatest opportunity it, then I will make my decision about where I go next. It is important to be responsive when necessary. If someone contacts you with an important opportunity and you don’t respond quickly then it can be a wasted opportunity. “
It will be interesting to watch what he does next, and hopefully then applies the value of the wealth created to be as successful in the later part of his career as he has been to date.