We had the good fortune of connecting with Suresh Dakshina and we’ve shared our conversation below.
Hi Suresh, can you walk us through the thought-process of starting your business?
I usually ask myself a few questions before I start a new venture. 1. What is the biggest problem we are trying to solve? 2. Can our solution serve thousands of businesses? 3. Can we create a Unique Selling Proposition (USP) solution? 4. Is our solution scalable? 5. Can our solution create a win-win situation for our customers and us? 6. Will I hire our service if I were a customer? 7. Will I feel happy working on our project during the next 7 to 10 years? If my answer is yes to all the above questions, then we embark on our new adventure. Before founding Chargeback Gurus, my co-founder and I ran eCommerce businesses. We also provided customer service support for several eCommerce merchants. Their most important need was dealing with chargebacks and fraud, but there was a gap in the market. Not many companies specialized in chargeback prevention and fraud minimization. We had already spent over 1,000 hours to resolve chargebacks for ourselves and our merchants. The demand for solving chargebacks was higher than customer service support. Our clients encouraged us to focus on just the chargeback solution instead.
Alright, so for those in our community who might not be familiar with your business, can you tell us more?
We help businesses fight chargebacks and fraud by utilizing our proprietary tools, industry experience, and certified analysts who work round the clock to protect these merchants. We empower merchants with the right tools and knowledge to safeguard their hard-earned profits. We have been fighting online crime for more than 7 years and have successfully recovered $1.5 Billion, and have proactively prevented 50% of consumer disputes. When a merchant says we helped them prevent bankruptcy by recovering their lost revenue it makes us proud and validates the fight we are against fraudsters. Me and my partner (Srii Srinivasan) have been serial entrepreneurs for over 16+ years and have had several successful ventures. Values, commitment, planning and having the right team members got us here. It was not an easy path for us. We made several mistakes throughout our entrepreneur journey but carried those lessons as a steppingstone and made a strong determination not to make those mistakes again but use them as a stepping stone for our success: • Never take things in business • Be wise about choosing your partners • Do not make decisions when you are upset • Best businesses are the ones who can withstand the sunny days, rainy days, and the storm • People see things the way they are and not the way the things are so it’s always a perspective often portrayed as facts • Never let anyone bring down your entrepreneurial spirit. When you hold strongly to your values and stay committed to your business with meticulous planning you will succeed no matter how hard the road is. Chargeback Gurus had some of its hardest days, but we never gave up on our values and commitment, and it helped us grow at 220% even during COVID pandemic.
Any places to eat or things to do that you can share with our readers? If they have a friend visiting town, what are some spots they could take them to?
My best friends prefer mostly to spend quality time with me discussing the exciting things happening in our lives, challenges we face, advice we need on certain aspects and a sounding board to listen and validate. Those are the best times we always cherish and are fond of. If I have one week with my close friend, here are some of the fun things I would do… 1. Rent a lake house, spend time in the water, pick interesting topics to talk about, exploring neighborhoods and do fun activities available around the area 2. Explore local specialty restaurants 3. Listen to favorite songs 4. Go to a movie 5. Explore local parks/trails for lazy evening walks or morning jogs (I love being in nature) 6. Share thoughts about books we both liked and read recently 7. Facetime with our friends 8. Revisit good old times by reminiscing over drinks 9. Meet locals whom we have never seen or talked to before (People mostly have great stories to share. My friends and I have always had memorable conversations with strangers.) 10. Go for rides at nights when the city quiets down
The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
I’m from Chennai, a metropolitan city in India. My dad, an entrepreneur for 40 years, still runs his successful business. His employees believe in him so deeply that they’ve worked with him for 40 years—this is one of my most powerful inspirations. I have seen how a group of people trust each other, work with each other, and produce a valuable product that can be utilized by the community and create sustainable revenue for employees and management. My father taught me that a leader must be resilient and patient to thrive as an entrepreneur. I now realize how true his statement is. Even after a long day, I’m available for our clients and employees when they need me. I’m optimistic and upbeat in my communication because my cheerfulness influences our team significantly. Such a positive vibe is crucial to overcome challenges.