Next Lecture by Ritesh Agarwal, Founder of OYO Rooms, on Growth and Scaling
— HowToStartAStartup (@HTSAS_IIMA) November 24, 2016
4:30 pm, IMDC, @IIMAhmedabad. Follow for live tweets!@CIIEIndia pic.twitter.com/AKorFqxLS7
Gear up folks! The session is about to start. @CIIE #HTSAS.
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
If you have any questions, kindly use the hashtag #HTSAS and @HTSAS_IIMA to post them. We will tweet back with Ritesh's reply.
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: As a young kid when people asked me what i wanted to become, I knew that I wanted to build a company of my own @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: I will be really good at it that I will make it to IIM A. Of course, I didn't make it @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: We believe that we are not one more startup. The word is used as a very commoditised manner. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Engineers are the best, they are the smartest. Engineering has a solution for any problem @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: We don't see engineering as a classroom learning but from a perspective of providing solutions for a problem @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: We see ourselves as innovators and not as derivates. We want to make great living spaces for anyone at any price @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: 15 years from now if Oyo exists will be known for the work we do but not for the discounts @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: "We want to create great living spaces for people across locations at accessible prices." @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: "Fifteen years from now OYO will be known for the experience that we deliver, not just the accessibility." @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: We are the 14th largest hotel chain in the world. We want to take to all the way to No 1 @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Best countries, Best product and Best ideas were built at bad times and it is a great place to be. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: First story of our company - Get your shit in order @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: There are close to 40L room exists in the unbrand category. The owners would want to sell it after a few years. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: For close 3 months I did everything at hotel. If you are building a product, you have to be the 1st subject expert @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Great consumer experts did things first hand @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Second learning: Always work hard to ensure the target market mix is spot on @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Second Story: It is about saying from 3 properties to 40 properties in Gurgaon So Choose is your beloved very well @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: By beloved I mean your partner @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: I started writing on LinkedIn. I looked like a kid. And people didn't join us. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Do not choose the partner for the degree, institute but for the attitude. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: For an e-commerce company you have huge burden on logistics, but for Oyo there was nothing. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Our fundamental unit economics were strong from the very first day. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Our Hiring philosophy: First 50 people were hired by first 5 to 6 people's recommendations @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: We had a very clear view that we would use jugaad to innovate but build good processes to scale @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Playbookisation: It means taking small innovations and making it idiot proof. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: In our country, demand is never a problem but supply is always as problem @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Acquisition vs Retention: Unhappy % of customer if it reached a particular point we decided that we would stop expansion @CIIEIndia
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: We said that we would stop growth and make sure our processes are in place @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Always have a balance with consolidation and non-consolidation @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: Three-point matrix we use and always talk about: Occupancy, Unit Economics and Customer Experience @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: In the coming years you will see Oyo transcend in standardisation. @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
Ritesh: We are 0.1% of what will become. Thank you so much for having me here @CIIEIndia #HTSAS
— HowToStartAStartup (@HTSAS_IIMA) November 25, 2016
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