Of Purpose, Values and Learnings

Some stories don't begin with a big idea, they begin with a quiet refusal to settle. That’s exactly what happened to Dhruvam Thaker, founder of The SMART Taxi. After years of switching jobs, fighting back failures, and watching honesty take a backseat in the corporate world, he decided it was time to do things differently. This is the story of an entrepreneur who built a business with quality, human touch and integrity, as a strong foundation base and success followed

When corporate world cannot accommodate you, adjust the world by remaining true to yourself and your values, is what Dhruvam Thaker firmly believes in. From taking up jobs at a café, petrol pump and call centre to working as a sales assistant, Dhruvam has never refused any opportunity—learnt something valuable from every job he pursued. “The reason I have never put myself in any mould is because I adapt to circumstances. I never consider myself as a creator or a doer, I always consider myself as a medium. If someone offers me a task, I do it in the best way I can,” he says. These experiences he says, has shaped his thinking. They have taught him discipline, people management skills, and most importantly the value of hard work. Even when he moved to better jobs in companies like ABB and Indus Towers, he always kept these lessons close to his heart.

Lessons from experience

Life for Dhruvam, has always been a rollercoaster, yet he persisted and worked regardless of challenges and setbacks. Recalling his journey, he said, “Despite facing multiple failures in high school education, I managed to pursue a diploma and even secured a silver medal. Later, during campus placement, I failed in five interviews, but after several attempts, I finally got selected in an MNC.” Dhruvam added, "I was never afraid of failures, instead I learned how to navigate through it."

Dhruvam thrived during his tenure at the MNC, working in the field of supply chain and operations, and earning a decent salary. But, he felt something was still missing—not getting job satisfaction and not doing something meaningful. Worse, he was asked to follow practices where he often had to keep his integrity aside.

“A company I worked with asked me to report false data to represent glorified results, which was unacceptable to me. I searched for alternate opportunities where I could work without compromising my integrity, but I learnt that this is a common practice followed almost everywhere, but at different levels,” he recalls. That’s when he decided, if he could not change this corporate culture, he will establish his own company, which will align with his own work ethics and values—a business where he could stay honest and still succeed. And, this was how the seed of The SMART Taxi as a business idea was planted.

"We are not into price game; we create value while offering our services to customers. We have maintained transparency, which has earned both revenue and blessings "

— Dhruvam Thaker

Pushing all odds

Coming from a non-business family, it was challenging for Dhruvam to establish a business. He faced family pressure, lack of funds and resources and circumstances, that could have easily discouraged him. “With a load of responsibilities—I was married, my son was just a year old, my father was retired, my two siblings are hearing and speaking impaired—I was pressurised to return to my job,” he shares. But, there was an internal driving force, which he said was pushing him to pursue entrepreneurship. After a deep introspection, he left his job in June 2016 without informing anyone.

From 2012 to 2016, Dhruvam kept figuring out whether to continue with his job or start a business. “I was in dilemma and was going through a phase of transformation—questioning myself whether my business will work or not, the revenue would ever come in and so on,” he recalls. However, amid this uncertainty, he also figured out the business idea he would pursue— the business of urban mobility.

When the idea took shape

While often travelling in cabs, Dhruvam identified the problems faced by the passengers in rear seats and by drivers while picking up clients. So, he came up with a solution, starting a planned, practical, and customer-focused car rental services, which he named “The SMART Taxi”. SMART, in corporate terms stands for Specific, Measurable, Achievable, Relevant and Time-bound—qualities he integrated into his cab services. Every car, whether a basic sedan or a luxury car, is well-maintained and clean. He also keeps water bottle and snacks in the cab to greet the customers, and even the option of customising their ride. Unlike other taxi services that charge more at night or during high demand, The SMART Taxi keeps prices fixed and that sets them apart.

In 2016, Dhruvam established his own company The SMART Taxi. However, getting started was not easy. “I approached eight banks for loan, but none sanctioned it,” recalls Dhruvam. He borrowed money from private financing (NBFCs) as a personal loan at high interest, borrowed from family and friends, and withdrew his savings, to buy his first commercial car. “The business which was supposed to begin with four cars and drivers, eventually started with one car and a firm belief in oneself,” he said.

Initially, due to lack of funds Dhruvam could not afford to hire a driver. So, he converted his personal driving license to commercial license and drove the taxi himself, while simultaneously running his company. “For three and a half years I ran my company solely—was the driver, marketer, customer care, accountant, sales representative, and even made advertisement banners,” he said. “There were days, when I could not afford fuel for cars. I have even slept in my car for many nights. I had to skip meals—at times had only tea and biscuits for dinner. Bills were outstanding, EMIs bounced, but I never thought of giving up.”

"Take safer steps, if you want your needs to get fulfilled. Take bolder steps, if you want your dreams to get fulfilled "

The first 1000 days

The first 1000 days of business were tough for Dhruvam, so much so that he was on the verge of shutting down the business. However, his belief in offering only the best to customers and his passion for integrating human touch in service at a large scale, kept him going. Even when the company was running at a loss, he never compromised on ethics, and that helped him grow. “Transparency provides us the opportunity to improve. I work on the suggestions of my clients, which further helped me expand the business. We deliver qualitative, committed and personalised services at a cost effective price to all our customers,” he explains.

Business, as Dhruvam puts it, always runs on profitability and sustainability, and not on discount. “We are not into price game; we create value while offering our services to customers. We have maintained transparency, which has given visibility in our work and has even earned both revenue and blessings. Doing business ethically while helping customers save their money, has been our core strength and the biggest source of inspiration too,” he adds.

Expanding team

After four years of hardwork, the business took off and Dhruvam was finally able to hire a team for his company. “We are a core team of seven people, all working with the same honesty and belief. Today, we are operational in 42 cities,” he mentioned.

With over 1000 taxis, The SMART Taxi provides quality, commitment and top-notch services to customers. “In 2016, the first year brought heavy losses—financial crises and bounced EMIs. The second year, was slightly better, but financial crisis continued. By mid2018, we reached at 0-0. In 2019, we saw 76% annual growth. Even during the pandemic in 2020, we achieved 30% growth. From 2021 onwards, we have seen a continual and incremental growth beyond 60% year on year, and continued even today. Seeing this growth becoming a reality as a bootstrapped venture and without keeping any of our core value aside, is a miracle,” he says proudly. “Take safer steps, if you want your needs to get fulfilled. Take bolder steps, if you want your dreams to get fulfilled,” adds Dhruvam.

FIVE Ds OF SUCCESS FROM DHRUVAM

• Dhairya (Patience)
• Dhagas (Hardwork)
• Dhyeya (Aim)
• Dhyan (Focus)
• Dharma (Ethics)

Of these five Ds, Dharma is the most crucial. We only charge the amount which is ethically right. These are the five basic principles one should follow in business to win any competition coming your way. I don’t dwell on the past or worry about the future—I live in the present. I tackle the challenges of today and learn from them.

Turning pain into progress

From earning Rs 80 per day to lakhs per day, Dhruvam’s ethics-driven vision of business, is growing bigger every day. Today, the company has a turnover in nine figures and operates in different verticals: cab bookings, flight ticket bookings, train bookings, hotel bookings and holiday packages.

Introducing travel packages is their most recent expansion. Based on careful analysis of popular destinations, Dhruvam and his team launched several domestic and one international travel package. “We decided to work on this idea even after the profit margin was slim. I opted domestic travel first to learn about this industry. Kerala was the first destination we marked as it’s a year-round favourite place to visit for people. We created an itinerary, bundled all our services, and presented it to customers, which they found very cost effective.” With these packages, they now offer an end-to-end hasslefree experience, from pickup to dropping back home safely—all in one package.

Today, the company has completed nine years of bootstrapped success, letting its service speak for itself. “We do not use flashy banners for marketing—our customers promote us through word-of-mouth. Their trust has helped us grow faster without any ad campaign or partnering with big companies,” Dhruvam says.

In tough times, Dhruvam says he always relies on three inspirations of his life - his father, his wife, and industrialist Late Ratan Tata. “My wife has been my backbone. In difficult times, she stood strong for the family and supported me, selling her jewellery when needed. She managed everything, from home to doing a job, while I was focusing on building the business,” he concludes.