Ritesh Agarwal, who has spent almost a decade building Oyo and plans to direct him for the coming years, reflected the challenges of the management of a startup. He stressed that although success could arrive quickly, sustainable endurance depends on fundamental values.
“There will be good days and there will be difficult days. What will allow you to spend difficult days is your value system, “he said.
For Agarwal, three principles define this foundation. The first is transparency – ensure the confidence of all stakeholders. “I have always tried to make sure that at the beginning, per month and when the company has become much larger, quarterly updates, meetings of the board of directors and all possible basic things in order to ‘Ensure high levels of transparency. “
Beyond transparency, he stressed the importance of a real commitment with stakeholders. “It is essential to try to have not only the letter but also the spirit of commercial conversations with your stakeholders. I think it helped me a lot.
Listening to customers and partners is another pillar of its leadership approach. Recalling a difficult phase in 2019 when Oyo faced criticism from hotel owners, Agarwal said he had responded by initiating the monthly town halls. “I have since managed the monthly owner Townhalls to be able to listen to our hotel owners and continue to improve. It is therefore not as every time things are fine, but you have to learn and continue to improve. »»
The last principle, he noted, is meticulous follow-up. “Remember that you are the fiduciary of the ship but not the ship’s owner … Even if you buy a stapler, try to make sure that the data can be followed.”
He also described four basic values of the company: respect, confidence, resilience and prejudices for action. “Respect, no matter who you are. Me and our business you respect. The second is confidence – we are constantly looking to give confidence and trust. Resilience – We never give up. And the last one is a bias for action. »»
Agarwal’s philosophy underlines the idea that startups are not designed for rapid success but for a lasting impact – anchored in values that resist the test of time.
