Doing business is not just about everyone. It is very important to have a business mind to do business. Only a business done with hard work, true dedication and complete dedication becomes successful.
And to get success in business, a common man needs marketing experience, he should have the ability to solve all kinds of problems, and to accomplish all these things, half of a person's life passes, then he becomes a successful person. Becomes a businessman.
But proving this thinking to be false, Ritesh Agarwal, the founder and CEO of OYO Rooms of India, has achieved great success in business at the age of 21 years.
Biography of Ritesh Agarwal:
Ritesh Agarwal was born in Bissam Cuttack, Odisha, on November 16, 1993. He belonged to a middle-class Marwari family. There is a mother, father and three brothers in his family. His father works closely with the Infrastructure Corporation and his mother is a housewife.
Ritesh completed his studies from Sacred Heart School which is located in Rayagada Odisha. After completing his intermediate studies, Ritesh enrolled in the Indian School of Business and Finance in Delhi to complete his further studies.
Although he did not complete his further studies to start his business.
And left the college in half. Ritesh was very much inspired by Bill Gates, Steve Jobs and Mark Zuckerburg from a young age.
In today's time, Ritesh is an Indian entrepreneur who started his business career at the age of 17, which very few people can do at a young age.
How OYO Started?
Ritesh was very fond of traveling to new places. He got a lot of opportunities to travel and he has traveled to many places in the world.
And Ritesh had to face many issues related to arranging accommodation while traveling.
Like sometimes they used to live in a useless place even by paying a lot of money and sometimes they used to get a very good place for less money.
Many such experiences inspired Ritesh and he decided that he would start his own online rooms booking community so that customers get a place to live with good convenience.
Oravel is such a start-up platform that makes a list of hotels present in every place and booking them in the budget of the people and gives them half the price.
But after a few days, Ritesh realized that he only gives rooms to the people for half the price, but ignoring the convenience of those customers, he is unable to fulfill them.
In 2011, he began Oravel by arranging for Rs60,000 at 1 hotel in Gurgaon. His company needed financial support then he came to know about the under 20 Thiel Fellowship which was started in 2013 for two years which was started by Paypal founder Peter Thiel.
Through this fellowship, 20 entrepreneurs under the age of 20 are selected and given an amount of $100,000. Ritesh was quite pleased to know and he applied for this fellowship.
And Ritesh was the first person from India to be included in the list of Thiel Fellowship. With the help of this amount, Ritesh reached his OYO Rooms to a very high position.
After that, many venture companies gave money to Ritesh and helped him for his financial condition. First Venture Nursery helped by funding, then Lightspeed Ventures, Sequoia and many more ventures helped. In July 2015, SoftBank gave $100 million to OYO Rooms.
1. Hire people not for today but for 2-3 years from now, and let them grow with the company.
