OYO CEO Ritesh Agarwal has once again taken to social media to share insights and advice gleaned from his entrepreneurial journey, encouraging young founders not to shy away from making mistakes. In a recent post, Agarwal emphasized the importance of learning from errors, stating, “Make mistakes often but don’t repeat the same mistakes often.”
He highlighted his excitement to mentor and support emerging entrepreneurs, drawing from his own experience of launching a startup with limited resources.
Adding a personal touch to his message, Agarwal shared a snippet from his appearance on the reality show Shark Tank India 3, where he engaged with two young entrepreneurs. Expressing his willingness to collaborate with them, he remarked that they reminded him of himself at their age.
The post, which garnered attention on social media platforms, resonated with many users, amassing over 8,400 views within two days. Followers praised Agarwal’s advice, with one user remarking, “Someone who isn’t making mistakes isn’t trying anything new.” Others echoed the sentiment, emphasizing the importance of embracing mistakes as part of the learning process.
Another user appreciated the Oyo founder’s willingness to mentor the young entrepreneurs. He stated, “Absolutely! Learning from mistakes is crucial for growth. Your willingness to mentor and give back to the startup community is commendable. Your experience and guidance will undoubtedly shape the future of many aspiring founders. Keep inspiring!”
OYO is also optimistic about a sustained increase in Profit After Tax (PAT) after achieving a twofold sequential growth to ₹30 crore in Q3 FY24, PTI reported, citing founder and CEO Ritesh Agarwal’s words to employees at the company town hall last month.
Addressing the employees, Agarwal said the hospitality and travel-tech firm has doubled its profits. In Q2 FY24, OYO’s operator Oravel Stays saw experienced its first profitable quarter with a PAT of ₹16 crore, he said.
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Published: 20 Mar 2024, 12:19 PM IST