In Conversation with Jyothi Dakkumalla

“Entrepreneurship is like a challenging trek. The final part is the hardest but also the most rewarding. You need perseverance to stay till the end,” says Jyothi Dakkumalla, an entrepreneur and the Co-founder & CEO of Wyse Technologies.

The Professional Journey

At just 21, fresh out of college with an electrical engineering degree, Jyothi started her career at a multinational software company. While working there, she began ‘Project CREA’, to help college students find jobs and internships. This began as a weekend hobby but sparked her love for entrepreneurship.

However, Jyothi realized she needed more knowledge in business to chase her dream of building a company. So, she felt the need for a larger platform to gain wider exposure. She prepared and landed herself into IIM Lucknow, one of the most prestigious B-schools in India IIM Lucknow. She graduated in 2016. 

She left her high-paying job after a brief stint and embarked on her first venture, Fabric Monde. It was a B2B platform connecting textile manufacturers to large brands in the fashion industry. She ran the company profitably for 3 years, but the pandemic posed unexpected challenges. Eventually, Jyothi and her team decided to exit from the venture after scaling it to a stellar $5Mn in revenues. Jyothi’s journey continued as she worked in leadership roles with a couple of high-growth startups which are valued over $1Bn. 

Her passion for startups led her to explore US markets. After working with a technology startup in the USA to help them expand to India, Bangladesh, and Sri Lanka, she grew deeply passionate about how technology can help create a large-scale impact in transforming the business. Taking inspiration from that, she started her second company in the USA called WYSE which helps companies with digital transformation. 

What is WYSE?

WYSE is a technology-forward outsourcing company that helps businesses in the USA with their organizational outsourcing needs. Companies can outsource projects in verticals such as finance, marketing, operations, software development, support, etc, and Wyse helps them get the projects executed from India. It uses the latest innovations and technologies to get the projects executed in a faster and more efficient way. Wyse also takes a consultative approach to helping companies identify their needs for achieving their organizational goals on growth or operational efficiencies. They work on developing Artificial intelligence strategies for companies and help them execute them. 

Jyothi, the serial entrepreneur

Jyothi’s love for problem-solving drives her entrepreneurial spirit.

“ The best thing about entrepreneurship is the impact one can create on the lives of people,” she says. 

Jyothi belongs to a conservative South Indian family, and her decision to be an entrepreneur initially brought a lot of resistance.

“Over 10 years, pursuing my passion for working on startups led to some small milestones along the way and that helped me win my family’s heart. Today, they are my biggest support system,” she admits.

Jyothi emphasizes that she refrains from taking rejections as personal setbacks; instead, she views each rejection as an opportunity to enhance her business.

“Look beyond gender, color, and ethnicity. Focus on your business, for that is what truly matters,” she adds to her fellow women entrepreneurs.

Her advice to entrepreneurs is:

• Identify the problem strategically
• Be persistent in solving it, and stick to it till the execution
• Build a supportive team
• Take the support of Incubation programs to build connections, find customers, and get funding and mentorship

“Despite facing more challenges than you might anticipate, persistence and moving forward in your journey will eventually lead to rewarding outcomes,” is her advice to entrepreneurs.

Pitching Advice for entrepreneurs

• Prioritize comprehensive market research and analysis to showcase your in-depth knowledge of the target market.
• Convince investors of your competence in delivering on your promises.
• Build trust and integrity in your pitch

Jyothi and her team

Jyothi firmly believes that a strong team is the foundation of an entrepreneur’s motivation and drive to succeed. She says she learned it the hard way from the learnings she had by building various types of teams in different types of organizations and understanding their impact on overall business growth and the startup journey an entrepreneur takes. Her advice to fellow entrepreneurs is that the best way to build teams is by supporting their growth and providing mentorship.

Jyothi, the person

Jyothi is a passionate, curious, and imaginative person. She is inspired by the actions of people in any field working towards progress. She loves trekking, and Glacier National Park is her recent favorite holiday destination. 

Her favorite quote is: “The people who are crazy enough to think they can change the world are the ones who do.” — Steve Jobs