DREAM BIG. YOU'LL SURELY ACHIEVE!
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1 Found OYO company before he turned 20.
He started his business career at 17, backpacking around the country, living in budget accommodations. This sparked the idea of OYO, a global-first business developed in India. Driven by a fevered energy only start-ups can have, Ritesh scaled OYO from 5 cities in December 2014 to 200 cities in 2015. haha! other than studying for my undergrad program i didnt think of anything else because thats too much for me wonder how he thought of such an amazing idea. jokes on me! 😆
2 College Dropout
Ritesh, as a child was under-confident about his studies and doubted his capabilities to prosper as a student in college. So he always had something else planned to thrive in life. He knew his family would hate him for his bad results in college, so he decided to do what excites him. Imagining if i drop out from my college which is unexpected from my end, what would happen at my place😲
3 Failed 6 times in business
Ritesh acquired the Zo Rooms once, one of their main competitors in India, which is again a budget room network with over 45000 rooms. Now, believe it or not, it took him 6 BIG falls before he could reach to OYO!
Damn! i would have given up on the first time itself and gone back home with a melancholic face. 🙌🏽 Kudos to you!
4 Initially got mistaken with real estate business
Ritesh used to convince the VCs to fund his venture. He tried finding a solution to the hotel booking process and then he realized something like OYO had not been built before. Everyone interpreted his venture as a real estate business on the initial level.
':i dont know be wasnt angry and pissed at that time when his business was mistaken with a real estate bizz because i would have. he's got a lot of patience. But surely now he must be laughung at this.
5 Reached at a height of international market
OYO doesn’t have any international competitor who could take its position. Thus, when we talk about startup turning down, OYO is far away, because of the favorable economic condition in the international market.
Can't believe a six time failure is at the top in international level. 🤩🙌🏽
6 Success wasn’t easy for OYO
The forward march of OYO into success was not easy as it sounds. Managing the component of predictability was a mammoth task for them. This challenge still continues. After they had standardized 45,000 rooms spread across 160 cities, managing the same set of facilities again and again, dealing with the issues that crop up, maintaining the 4* ratings on TripAdvisor and satisfying the customers on maximum deals were a tough job which they could manage efficiently with a lot of efforts.
so hardworking, still would have given up cant even imagine to work this hard with such an idea which at that time was impossible for anyone to do.
7 How ‘OYO’ 🤷🏻♀️
The Indian owner of China's largest chain of hotels, OYO, is not known as Ritesh Agarwal, but as Li Tai Xi in the country.
As in India, OYO's problems in China go beyond coronavirus, It has been subject to rising complaints from hoteliers about delayed payments, but not being able to speak the local language is not one of them.
OYO i didnt know it was for "on your own" 🙌🏽✨👏🏽