@-RiteshAgarwal
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- Опубліковано 22 чер 2024
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VIDEO INTRODUCTION:
In this episode of the Indian Business Podcast, we get insights from Ritesh Agarwal, the founder and CEO of Oyo Rooms. He tells us about his journey from being a young, inexperienced entrepreneur to leading a big success in the hotel industry. Ritesh talks about overcoming big challenges, like losing 70% of the company's revenue overnight. He also talks about how it's important to think differently and how he got help from the Thiel Fellowship. This video shares lessons he learned, why it's good to be different, and the value of education beyond formal settings, offering invaluable insights for aspiring entrepreneurs and business leaders.
Timestamps
00:00 Trailer, introduction
3:49 How did Ritesh Agarwal's early experiences in selling SIM cards influence his entrepreneurial journey?
12:38 When you were a small business owner what did you know that you wished Airtel knew?
18:34 Exercise, How would you gain customer Insights for Dal makhani?
25:19 In-store Placement of Items? Where you should focus on Placing your item
27:10 What are the most important Insights you got from hotel owners?
34:16 Do things that don’t scale? What are the key differences between founder-driven companies and professionally driven companies?
40:05 How do you manage to keep communication, clarity, and value intact while growing your organisation?
46:40 Do you have a set of Values that you made sure every single employee in the company knows?
51:24 What happened in 2019 covid -19 and how did you overcome the challenges?
58:05 Why did Oyo move away from the minimum guarantee model?
1:00:45 How did Ritesh Agarwal come to Mumbai?
1:02:42 How was OYO Born?
1:02:05 How did the Thiel Fellowship help Ritesh Agarwal in his business journey?
1:17:30 What questions were asked in the Thiel Fellowship application? What is the method of filtration?
1:21:44 What is the Thiel Fellowship program Like?
1:27:05 How did your approach to Oravel change?
1:20:07 What is Marriott's business model?
1:32:40 When did you first Raise money and how much did you Raise?
1:36:00 What are the slabs in Hotel Industry and where was OYO?
1:37:40 First validate and then Scale.
1:43:05 Why is OYO so successful than others?
1:45:30 How did you learn that Tier 2 and Tier 3 can be a great market? How did Oyo's global expansion strategy evolve?
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continue this series its really very informative
watching this as a 17 year old from kota in allen preparing for jee
Hey think school I wanted to ask if you are willing to go to other space than education if you saw a huge opportunity
I will once you reply to my email... I sent you a clear directive email with unregulated market and you haven't responded... i know success storied are all we want to talk about... but you are deviating from your own theme why I was your avid listener.....
Zeuzzyzezzzuzuxx,u,rucu,,,u,ztz,,ru,,c😂 @@ARNAV.TRIPATHI
Ritesh is the most humble shark on Shark Tank India....🖤✨
Thank you Ganesh for bringing him.✨
He's a no 1 Fraud
Cheated us hoteliers Crores of Rs
Karma will sooner nor later catch up with the master cheat
He's a no 1 Fraud
Cheated us hoteliers Crores of Rs
Karma will sooner nor later catch up with the master cheat
Dear Ganesh
This discussion is worth more than a semester of a business degree. Shall implement key learnings in my organization as well.
You are not just an entrepreneur, you are becoming quite a social entrepreneur by bringing such content to the masses !
"Ritesh Agarwal's journey from a young entrepreneur to building OYO into a global brand is truly inspiring! His resilience and vision are a beacon for aspiring entrepreneurs everywhere. Keep shining, Ritesh! 🌟"
The most grounded entrepreneur. No IIT No IIM, still very deep knowledge and deep understanding of the Indian market. Thanks for this wonderful podcast ❤.
This content is GOLD, good enough to be taught as a Business elective!
Thanks Think School for this insightful interaction with Ritesh Agarwal.
We stop trying OYO before a year, bcoz I don't know the situation in the North. But if I book OYO in Chennai or any other cities in Tamilnadu. At Check in Time hotels Simply Reject our Booking, or ask more money. So we know 90-95% OYO Booking is not working as per OYO app mentioned Amount.
It same situation in North. It’s scamming people
@@imabhishekanand Then how they earn revenue. Bcoz some good start-ups are in cash negative. Then how this 85-95% failed booking Startup can even generate money.
Same case OLA facing but suddenly they change their path. But I think OYO doen't mind about anything. Even after 2,3 long years.
@@Karthik57523 yeh majburiyaaa filhal h 🎶-- avg lonely Indian 😂😂
Some people don’t have options and they compromise with a higher price at arrival. It’s solely running because of couple friendly marketing
@@imabhishekanand Yes if that higher price is reasonable then it's okay. But if we have huge luggage. if we are with ladies. So that we have only narrow options . Then hotels can ask for a higher amount due to our situation.
The way oyo operates and does not take any ownership of its customers problems, I hope it goes bankrupt. I have had several instances where they took the money and dennied service on odd hours and the customer care did nothing. They show hotels as listed when the hotel owners deny service saying they had de-registered and no one hears . This company has failed miserably in service and should not be allowed to function based on history of mismanagement. I have such strong feelings because of personal experience and not just 1-2 cases but many many cases personally
Video quality is becoming better Day by day with all the explanation and all, but a suggestion is that divide the video by topics
Two takes from this comment
1. Video is already divided in to topics, if you see the youtube seek bar.
2. An entrepreneur wouldn't want to cut this interview by any parts. It was as good as watching a good movie.(Depends on every 1's interest).
That line "dukaan badha k aajao" was really really correct as i also come from a family of small business owner.
Absolutely, I instantly passed that learning to my company executives.
Lots of trivial epiphanies yet in a profound way.
Absolutely stacks of take away from this.
Everytime and everything in this channel has been worth time invested so far.
Prince In Exile 😎💯 Thank You Ganesh Bro There Is A Lot I've Learnt From You ... Thank You Very Much For This Podcast ... I'm Waiting For This Podcast From 2 Months ❤️
Bro... you're literally doing great day by day...with amazing contents...keep it up✨✊
People like Ritesh & Ganesh Inspires the Young India.
I bet in the Next 10-15 Years, I will build something similar to Thiel Fellowship for India.
Both have a unique rhythm and tune when they talk. The way each of these men separates their sentences is so calm, quiet and metred. Wish people in Indian parliament learnt talk like these two men.
IBP is another underrated podcast series after Nikhil Kamath's podcast. Better than any business lecture and class.
this is masterclassnon how to be humble while talking.
Love this man for his kind and humble behaviour. Thanks Ganesh for bringing him in❤
Ritesh is a very intelligent and humble guy.
Your questions are insane!
Also the detail with which ritesh answered the play book, or the processes gives great insight on how to see things!
Thanks for doing this!
Need a Part 2 very soon!
Do it on zoom, thats fine, content matters even if the bacground is just fine!
As always Ritesh is fundamental strong with his every word. Thank you for the conversation.
Yes, he gave very good answer about, CLV/LTV (lifetime value), and in-store placement. In-store placement is a very important factor in gaining customers attention and raise their interest to given a try or buy the product
Thanks thinkschool for the quality ❤
Great job Think School and team. Lovely and an insightful conversation
Keep growing
Absolutely love this podcast.... What a knowledge and experience shared by Ritesh and the questions asked by Ganesh was pin point.. loved it
Learned a lot from this intellectual conversation!
Need some way to address the hotels listed actually exist and if they exist hotel don't deny oyo booking.
This is the best podcast for me ❣️❣️💯
This setup is very good and pleasing to the eye. Great content.
Bhai sahab...mazaa hi aa gya!!! ❤❤❤
Just ended listening up the whole podcast and taking notes. Amazing insights. Thank you Ganesh . Much appreciated 👍🏻.
Enjoyed the conversation ❤
Two my favorite people♥🙏
Happy to watch Ritesh having a long talk.
Think school is one of the best UA-cam channels of India. His podcasts are really good,I have missed some cause I'm preparing for JEE 😅😅
same
Please bring TVF team in ur podcast
Its them who taught us the meaning of startup in very entertaining form
Might be the inspiration for many startup's coming today
Daam this postcast was so good, there is so much to learn.
I don’t know know how many have seen it great podcast ❤
quality content, great time spend
I have become a fan of you Ritesh... You are such an incredible person. Thank you Ganesh for having him... Great job 😊
think school is amazing bhaiya , its been 2 years since i subscribed u and its been amazing but the business podcasts they are otherwordly so to say in quality ,depth , value for time and so on .
That's why i have a request can u somehow bring subhash choudhary in the next business podcast pls (founder of dukaan). seriously u are gonna love their case
Fantastic Video, Your clear explanations, and engaging ,storytelling make complex topic so easy to undersatnd
Probably one of the best podcast
I would genuinely like to know how as a founder he handles the "name" OYO has in the eyes of public ? Maybe if u spoke to him about this offscreen i would like an insight 😅
This person knows the depth of retail kirana store ,, for the first time I saw someone literally appreciating the nuances of small business. Kirana owners literally close their shop just for two days whole year .. on Diwali and Holi
grt insights!!!!
This is genuinely 🎉 a great piece of content Ganesh.
Really interesting
Another Masterpiece by Think School team. Brought the best out of Ritesh. The home ambience setup did its magic. Ritesh could have gone superficial but he choose not to and deep-dived. Amazing hosting by Ganesh.
Need to include hotel owners' prospective as well. Ask them if they really want to work with aggregrators or not.
@Ganesh: keep doing the great work by bringing this awesome entrepreneurs and share their journey. Please keep focusing on quality instead of insta reels which makes money by views but there is no motivation and you get nothing out of it.
Ritesh is the most down to earth entrepreneur. He found the right path to put his passion on. Some rebels put their energies at wrong path and its hard to be rebel too😅
This one podcast had so much business nuances and experiences than most in a day of MBA class session! Additionally since it’s viewed with curiosity and going to be etched forever in the mind unlike a classroom session! Great podcast!
One of the best podcast so far. Ritesh explained everything in detail even without asking. All the best to his future endeavours.
Ritesh is true truly pioneer such guys are the real inspiration of future India.
When someone asks me what's the recent good movie I watched?, I probably won't mention this video (since everyone's tastes differ), but this video will definitely be in the back of my mind. Thank you Ganesh. Luv Ganesh let ppl to speak unlike others bombarding with questions. The wealth of knowledge Ritesh posses is clearly evident in this interview and its truly impressive.
Most probably I am going to implement some of the ideas I recieved here in the podcast in my business. Huge insights on growing business. I am eager to find out what kind of results will it bring in a food business if few things discussed here was implemented.
Love your videos, bro... Keep rocking... Also please make a video on election results after a week from June 4 so that you get enough time to research and we can know what are the tasks that the government who is going to come into power should do in the next 5 years. Please
What a interview man! Loved the insights and the whole episode infact didn't know where the time flew. This one was a interesting podcast #KeepGrindin✊🏼
Loved it. 👌
A huge thanks for all the amazing Contents you create! Your Videos never fail
to inspire and entertain me. keep up the awesome work.
I am wondering about the thing that partnering with small business owners is always better than competing with them so like is it possible to have another Zepto or blinkit which does not have any dark store but directly partner with small stores ( like jio mart but they are their own stores )?
Guys what do you think ?
One of the best interview to watch . I didnt miss a single min.
Thank you Muaadh Rilwan from linkedin
Great podcast thank you Ganesh and team
Superb. Ritesh very modest
Great podcast on Ritesh Agarwal! Ganesh, could you please share the PDF of your notes from this episode that you write on you pad? We'd love to review them and delve deeper into the insights you provided.
Interesting ❤
Dear ganesh,
I always enjoy tge episodes you do. Lot to learn from each one of them. But this i found very relatable.
Love ❤️
An excellent podcast featuring Ganesh and the founder of OYO, Ritesh. It’s an incredible episode with great insights from Ritesh. I always look forward to the next podcast Ganesh.
I love you guys so much ❤
Insightful..
We need a part two!
Great interview
BRO I still feel so bad that I couldn't meet u at baner when you came for seminar :(
Ganesh i just love love love your channel ❤ i mean you solve my half of problems through this podcast ...such a amazing man you are
jugadu banda, he doesn't care much about the customer experience, his prime focus is getting things done, and scale 'em, customer satisfaction is last priority for him. Either way in a country like India(where quality is not a priority, cuz of huge popn & low per capita inc), it works for ritesh. Kudos to him for building a unicorn!
An amazing Podcast!! just wanted to confirm if the audio is low for me or everyone?
nice and humble guy !!
I think translate some hindhi words to English makes this interview feel very better and this the best interview I have watched this year,....❤️🔥
Kudos to Ganesh and Ritesh for making this video absolutely worth my time.
Hey Ganesh, this was a very insightful and in many ways inspiring. Thank you for inviting him and having this conversation.
Please do call him back and finish all the questions you had to ask.
You are doing a great job and I appreciate it a lot.
Ritesh has been excellent storyteller so far and Ganesh hats off to you for a nutshell explanation & interpretation of Air Bnb founders about scaling and a small thought hoteling industry and all their apps are part of service building rather than product building and glad that they hold a share of OYO and I wish/hope to see OYO ingest Airbnb service quality @40:00
I have worked in Oyo for 3 years and seen both the pre COVID and post COVID era, a lot of things told on this podcast are not the reality experienced by an employee.
Ritesh comes with his unique vision for sure, but is also blind on a million things as well.
My fav shark on my fav UA-cam channel, thank you!
Sir thank you so much for getting back to your roots, forgetting political topics for once and bringing back what we really wanted, these business case studies and podcasts that made Think School a channel for me to subscribe to. I missed these contents. Thanks again for getting back to what we loved.
Business and politics are closely bound and nobody can cut the ties
To understand business and growth we have to understand right-wing and left-wing politics and their principles coz you cant do business in a country without political parties and governments
remembering valentine celebration
better than a movie on Netflix or prime. - made lot of notes - lets see if i can do justice to it.
This podcast took me back to my old days.
During my childhood I used to sit at my dad's shop during summer break and also everyday after my school.
I used to look at my dad and copy his way of talking to customers. I used to feel happy every time I managed to sell items and when I used to see the cash box filled with money. I was a little girl and customers used to praise me saying you have a true businessman's spirit.
Later due to internal family reasons and financial losses the shop got shut and I went out of my town for higher studies, I started working and completely lost touch with business.
The thrill you get when you make money during your childhood is something different. You are innocent yet determined to sell your products with the intent of making money.
This till date best of all.
Ritesh spew all knowledge he had in this podcast, that Ganesh din't even finish asking the questions he had. Good job.
Talking about the fun grocery shop part, I also look into whats there in the fridge of that shopkeeper😊
really surprised the oyo is still in existence, miniscule number of their branded hotels are seen and even they refuse to take bookings except for some who take bookings on hourly basis for shady customers
Please bring Nikhil Kamath and Deepinder Goyal in upcoming videos.
Sir please provided the subtitles in your video 🙏🙏🙏
@thinkschool you don’t know what you are doing I guess.
You are making our country that we something can’t imagine.
I can just see the future India, your video is something that we always excited to have.
Leveraging these emotional connections can enhance customer loyalty and overall business success. 👍
What i understand : We need that type of fellowships by private billionaires or VC or PE firms in India ASAP
Next speaker
Deepinder Goyal
Please ask him how many cars does he own .
I want an interview with Subramaniyan Swamy. Please 🙏🏻
It would be amazing to see Ganesh interviewing Prashant kishor, 2 geniuses in one frame, Try reaching him Ganesh his insight and level of knowledge in his answers will be too much interesting