Ritesh Agarwal — Founder & CEO of OYO Rooms: A true Youth Inspiration
The entrepreneurial success story of OYO is indeed quite inspirational. The 27-year-old Ritesh Agarwal is the founder and CEO of one of India’s most extensive budget hotel chains — OYO.
Ritesh’s entrepreneurial journey began in 2013, with the goal of designing a unique solution for the budget-driven traveller across India. Tried his hands in Entrepreneurship with his startup Oravel Stays, which was a solution that could help people locate and book budget stays. Overthrown a huge baggage of failures and finally after learning from his mistakes and experiences founded his current company, OYO Rooms.
Now, OYO Rooms is one of the largest and fastest-growing hospitality chains of leased and franchised hotels, homes and living spaces in India.
His life journey from scratch to the largest hotel chain in India has been a true inspiration and a constant source of motivation. There are a lot of lessons I have learnt from him, mentioning a few here:
1. The sharp eye to determine a distinct pain area — Even at a small age, he had a wish to travel into different cities of India and identify the pain areas. He didn’t stop at that point but derived a solution to that pain.
2. The value of knowledge in your focus area — He gained full fledge knowledge in his area of major concern (hotels), well before starting the business.
3. The power of gaining the required expertise and experience — He has the ability of identifying and gaining expertise and experience in his key area.
4. The willingness to stake everything on hand to get what you want — Even in his teens, he had the conscience of sacrificing comforts of going college and completing his studies. And started everything from scratch.
5. The ability to take a step back and restart even when you are faced with failure — Learning from the failures is a great accomplishment in itself. After failing multiple times in his startup- Oravel Stays, he had the courage to restart the business from the very beginning.
6. The determination to face any consequences in your journey toward your goal — When you start your journey to achieve something, your focus should always be towards your goal. A major lesson learnt from Mr Agarwal.
He is a great source of motivation to the youth across the country and worldwide. I admired him a lot.