OYO founder Ritesh Agarwal shares lessons on startup success: 'What helps you overcome tough times is your...'

Ritesh Agarwal, the founder of OYO, has spent nearly a decade building the company and plans to lead it for years to come. Reflecting on the challenges of running a startup, he emphasised that success can come quickly, but long-term survival depends on core values.

“There will be good days and tough days. What helps you overcome tough times is your value system,” he said.

What keeps a startup afloat through the highs and lows? It’s not just a great product or funding—it’s the values that drive every decision. In this episode, I’m sharing the key principles that help founders build companies that last. In this episode, we’re breaking down the power…

— Ritesh Agarwal (@riteshagar) February 7, 2025

Agarwal highlighted three key principles that have guided him. The first is transparency—ensuring trust across all stakeholders. He explained how he maintained transparency from OYO’s early days by giving regular updates to employees and board members.

The second principle is genuine engagement with stakeholders. He stressed the importance of honest and meaningful conversations, which have helped him build strong relationships.

The third is listening to customers and partners. He recalled a challenging phase in 2019 when OYO faced criticism from hotel owners. To address their concerns, he started monthly town halls to hear their feedback and improve the business.

Another crucial aspect of his leadership is meticulous tracking. He believes that leaders should act as trustees, ensuring that even small expenses, like buying a stapler, are carefully monitored.

Agarwal also outlined four core company values: respect, trust, resilience, and bias for action. He emphasized that OYO respects everyone, seeks and gives trust, never gives up, and takes quick action.

His philosophy highlights that startups should not only aim for rapid success but also focus on building a lasting impact through strong values.