Yakubu Audu is the founder of DashRide. He speaks to TOLULOPE FASUAN about his business and other issues
What services does your business offer?
It is an e-hailing app that provides services where customers can order rides at their convenience, and also order food from any restaurant of their choice. We deliver packages to any destination as well.
What schools did you attend?
I studied Chemical Engineering at Kaduna Polytechnic. I also obtained another degree in Tourism from the Yakin Dogu University in Northern Cyprus.
What previous businesses have you run before?
After my first degree, I started an engineering servicing company called Kubson Engineering Consulting and Services, which offered general engineering services. I also ran a restaurant business outside Nigeria called L’africana Cuisine and Bar. The restaurant generated good profit and was strictly cash-based. As such, it doubled as an exchange platform for fellow Nigerians abroad who faced difficulty converting the Naira for their basic needs.
What inspired you to start Dash Ride?
It all started when I traveled out of the country. I marvelled at how seamlessly taxi services were run. Unlike here in Nigeria, those services were run by locals, so I said to myself, “Nigeria needs something this from a fellow Nigerian”.
I wanted to create an app that would cater to a sophisticated audience looking for a premium experience when booking rides. It is all about offering a classy and convenient option for people on the move.
What are the major obstacles you face?
One of the major obstacles has to do with reaching people through media and advertising platforms. These platforms are the gold mines to reach one’s target audience, but most times, the costs are outrageous, and it forces one to go back to the drawing table. Tackling it is by looking for the best way to reach the public without compromising our core values and quality.
How do you plan to beat your major competitors?
We have developed a robust partnership package for both drivers and riders through good customer loyalty programmes. We have a secure platform where security is our priority for the lives of innocent drivers and passengers. We also plan to reward the best drivers every quarter of the year with gifts. We will also have workshops for drivers who stay on the app for a specific duration.
First aid stations will also be made available at key locations. We want both drivers and passengers to feel our presence.
What would you do differently from other players that are already operating in the industry?
We would partner with local businesses for in-app promotion, offering discounts at restaurants, cafes and shops.
We would also provide drivers with good incentives.
We also aim to have charity rides, which would allow passengers to round up their fare to the closest amount, donating the difference to local charities. We would provide clear and upfront pricing with no hidden fees, and build trust with passengers. We are locally based and we understand the needs of both customers and drivers.
In recent times, there have been incidents of kidnapping and assaults of passengers who hired e-hailing rides. How do you intend to prevent incidents like this on your platform?
The app is built with the availability of one-time passwords that the rider would share with the driver to be sure of the driver’s identity.
There will also be real-time updates on the location, estimated arrival time, and traffic conditions. Riders can share location, car details, and driver information for security reasons.
We will work hand in hand with security personnel for immediate assistance when we have security challenges.
What is your biggest fear as an entrepreneur?
My biggest fear revolves around the potential for failure and its associated consequences. These fears manifest in various forms such as loss of personal savings, business insolvency, which is the fear of the business running out of funds and being unable to sustain operations; product rejection and competition; and fear of being outperformed by competitors who might have more resources or better market positioning.
How do you handle failure?
Handling failure effectively is critical for personal and professional growth, especially as an entrepreneur. My strategies to navigate and learn from failures include acknowledging and accepting it, learning and adapting, staying positive and resilient, reassessing and planning, taking action, seeking support, and cultivating a growing mindset.
How do you deal with major competitors?
In whatever one does, there will always be major challenges or competition. They are inevitable.
In the competitive landscape, it is essential to understand one’s major competitors by identifying their strengths and weaknesses. It is imperative to conduct a SWOT analysis, to know their strengths, weaknesses, opportunities and threats, which would help one to assess one’s position in the market, compared to competitors. By analysing their strategies, pricing, and customer base, we can adapt and differentiate from other e-hailing apps effectively. Additionally, I believe that focusing on our unique value proposition targeted at a sophisticated audience will help us stand out in the market.
In what ways do you envisage that the business would positively impact society?
The company will have a significant impact in Nigeria by providing a premium transportation service tailored to the sophisticated audience. By offering a classy and convenient option, we aim to attract customers looking for a high-quality ride experience. This will, in turn, lead to increased employment opportunities for drivers, improved transportation options for residents, and contribute positively to the economy.
What advice do you have for other young entrepreneurs?
My advice is that they should stay curious, embrace challenges as opportunities to learn and grow, surround themselves with a supportive network of mentors and peers, and never be afraid to take calculated risks. Remember, success often comes from perseverance and a willingness to adapt to change. Keep pushing forward with your ideas and dreams.
How often do you travel and what countries have you been to?
I usually travel yearly, but since I came back to Nigeria to start this business, I have not travelled out of the country. However, I often travel to different states to understand how each state operates, and to see the opportunities within.
But over the years, I have been to a number of countries, and I understand some foreign languages, such as Turkish and Russian.
What is your biggest motivation?
My biggest motivation is to see Nigeria grow, and to see my company contributing to the growth of the country. I am driven to create something better and achieve success.
Where do you see yourself in the next 10 years?
In the next 10 years, I will have established a successful chain of businesses valued in billions of naira, generating job opportunities in Nigeria and internationally.
How did you get funding to start your business?
I started funding the business from my savings, as well as getting loans from family members. However, one can never have enough funds to start a business. The idea, vision, and goals are the grease that keeps the fire burning.
Are you open to partnerships in the long run?
I am always looking forward to forming partnerships and collaborating with organisations, developers, and individuals to enhance the capability and growth of the company. My primary goal is to provide value to both users and drivers. Partnerships can help me achieve that goal more effectively.
In the long run, I aim to establish strong partnerships that can lead to breakthroughs in various fields, such as education and healthcare. By working together with other brands, we can create innovative solutions that benefit society.
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