Advertisement

More Than 70% Of Our Biz Comes From Repeat Customers: Ritesh Aggarwal, OYO

He credits technology and people as the two key pillars for any company to scale up for the better

Giving away his winning strategy at the BW Unicorn Summit & Awards 2022, Ritesh Aggarwal, Founder & Group CEO, Oyo, takes the audience through the early hiccups to creating some impactful pick-ups over time. He agrees how there was an unanticipated stop in the travel business in the last two years, but the company sharpened its net, only to offer an improved product, to create a positive impact in the coming times. 

He also shares how criticism has always been valuable to the company's growth, which eventually leads to greater learning. "We don't mind the criticism that comes with a signal. While noise will always be there, you will be unbothered after some time. Keeping your friends close and your critiques closer is my learning from over the years," he asserts. 

On being asked about companies planning to scale up, he emphasises that it is important for these companies to first look for the need to scale. "There may be some companies that wish to scale while some who wouldn't. It should be an upfront decision about which path they wish to choose. And each person has his own choice to follow here."

For Oyo, its people really hoped to create a large-scale impact. Hence, scaling was a natural step for them. Aggarwal, on his advice to companies scaling up, comments, "Do not get disheartened when you scale up, be perseverant. Next, try to have a playbook ready, that helps you repeat your past approaches without making many changes. Last but not the least, good talent can do so much more than technology. Be close to them."



Tags assigned to this article:

Around The World

Advertisement