How I Did It

Manek N. Daruvala, (T.I.M.E)

By Sunaina Sehgal

Imaging by Binesh Sreedharan

Manek N. Daruvala never saw himself as a businessman. When he took up tutoring as a part-time job though, he was forced to think otherwise. Not only did he instinctively take to teaching, he quickly realised that the coaching business was a lucrative idea. Today, Triumphant Institute of Management (T.I.M.E), his Hyderabad-based coaching institute has grown into a Rs 188 crore company. Still, Daruvala makes sure he has time for his real business— teaching students.

I don't come from a family of entrepreneurs though my dad did manage a medical store. But, I didn't spend time in the shop learning the ropes, as they say.

As a boy, I never imagined I'd run a company one day. I studied in a small school in Devlali near Nasik. I was a good student. My future was well mapped out. After school, I pursued my BSc in chemistry from Bombay University. I topped there. I also got admission into IIM, Ahmedabad. I knew I'd finish my studies and start working.

I wasn't passionate about business management. I did an MBA because by then there was quite a buzz around it. Everyone was talking about it. So, I decided to join the bandwagon. Even during the course, I never even once thought of running a business.

Right after IIM, I worked for Godrej and then Boyce. I was part of the firm's marketing and sales division for five years. It was in my job that I first started thinking about doing something of my own.

Godrej was paying me Rs 8,000. It was a decent salary but I was struggling. I had to repay my student loan and support my parents financially. I ended up having to look for part-time jobs. I saw teaching as a viable option. Soon, I was tutoring college students. Over time I realised that the effort and energy spent on my regular job could be synergised into something more meaningful like a coaching centre.

It might not have been apparent to even me at first. But, I am ambitious. Extra money has always been welcome. The yeh dil maange more feeling was always there. Since I was dabbling with education already, I figured it'd be the right sector for me to begin in.

I didn't have a plan to start with nor did I extensively research the market. I did some basic study on the courses and curriculum I should make available. There were no concrete, fancy business plans.

I roped in a former colleague of mine from Godrej, P. Viswanath, and together we decided to start Triumphant Institute of Management Education (T.I.M.E.) in 1992 in Hyderabad.

With a plan in place, I quit Godrej. But I didn't stop working altogether. I joined VJ Info Systems, Hyderabad as its head of education and training division. I thought it was important to understand the education sector. This was in 1991. During the interview, I was frank with them. I told my bosses at VJ that I'd like to start my own outfit sometime and couldn't commit to a long tenure with them. They welcomed my honesty and let me come on board.

We realised that a steady input of resource was a must for a start-up. So while Viswanath quit Godrej, I continued to work for another year. Together we pooled in Rs 16,000, borrowed Rs 8,000 and rented out a 150 sq ft office. We pegged our firm as a training institution for the all-India Common Admission Test (CAT), conducted by the IIMs.

Since we both had jobs, we would take classes in the morning before work— 6.30am to 8.30am—and in the evenings after work—6pm to 8pm. It wasn't easy to get that first student. There were several similar local outfits mushrooming everywhere. Although there were some big brands nationally like Brilliant Tutorials in Bengaluru and IMS in Mumbai through the 1980s, Hyderabad didn't have a brand in coaching.

I still vividly remember our first student inquiry. He was happy with the course, structure, the teaching method. But he wanted to know how many students we had signed up already. I didn't have a figure, so I spoke the truth—zero. He looked a little worried but he still enrolled.

Throughout my life, I maintained we'll speak the truth. Sooner or later, people get to know when you bluff. To succeed, one should under-commit and over-deliver. That has worked well for us. When we started, we promised to devote six hours to the classes but ended up giving eight. It built great wordof- mouth for us.

However, not everything went smoothly. The first year we had 62 students. The next CAT season we had 180. The numbers looked bleak but by the end of our third year, we suddenly grew to 500 students.

Soon Viswanath and I were heading the company full-time as well as teaching. We didn't have any employees and used to sort out the study material ourselves. It didn't matter that we were overworked. I loved teaching young people. I strongly recommend it to everybody. It also helped that we were young ourselves. I was 29 and most of our students were in their early 20s. We had a great rapport. I was more like a confidant, less like a teacher.

Over the years I've become a bit obsessive about teaching. I can't completely give it up though I've reconciled myself to the fact that I can't be as involved as before. I still teach at the Hyderabad and Delhi centres. Why shouldn't I? It's now a part of me.

As T.I.M.E. grew, we began focusing on quality faculty. We hired an IIM graduate. Unfortunately, our students didn't enjoy his method and we had to let him go. This was one lesson learnt the hard way. The students almost ousted him. We realised that no matter how educated our faculty is teaching remains an art. It needed to be learnt. This is when we decided to train our faculty.

We consciously aim at building and developing every resource we hire. Each faculty member is especially trained in all the subjects they are expected to teach. It's a continuous process. We also give a post-orientation demo where a faculty member has to take inhouse classes on a topic of their choice. Our training has helped us stay ahead of the rest. Today we have 205 centres in 108 towns.

To be honest, numbers, however attractive, are never indicators of quality. Once we had to close down a centre in Indore. It was a heart-wrenching experience. But it had to be done. It wasn't that our business model wasn't working and we wouldn't make money. We just weren't getting the right quality of students and faculty.

As they say, what does not kill you makes you stronger. I'm a person who likes to challenge himself. I believe that if one office is shut, I'll start five more that are better than before. I never give up.

Today, we have a pan-India presence. Over 50 IIT and IIM graduates in our core team. We've grown significantly in revenue. We've introduced new programmes like the "foundation programme" which tutors young students from Classes VII to X on basic mathematics, physics and chemistry. We've also forayed into the preparatory school space with T.I.M.E. Kids. We have 50 such centres.

Yet, I don't feel that I've "made it". I wish I never do. I want to enjoy my journey.

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