When we think about Richard Branson, the first thing that will go through our mind will be Virgin Group. The Virgin Group was founded by Sir Richard Branson in 1970 & currently there are more than 400 companies under the Virgin Group umbrella. Having poor academic performance due to dyslexia, his school principle told him that he would either go to jail or he will be a millionaire. Today, his estimated Net Worth is around $5.1 Billion.
Based on what we can observe, Branson’s life is all about making money & having fun. Lets not forget that its all about taking some risk as well.
How Did Richard Branson Take Risks To Grow His Business & Challenge Himself In Life?
1. Take Calculated Risk
It is not about taking risk without planning but its all about taking calculated risk. From a Record Company to an Airline Company, Branson have negotiated with Boeing that he could return the flight after 1 year if things did not work out.
2. Don’t Be Afraid To Fail
To go head to head with Coca Cola, Branson have launched his own version called Virgin Cola. During the launch of Virgin Cola, Branson drove a tank through the streets of New York before smashing though a wall of Coca Cola. Despite a high profile launching of Virgin Cola, the brand ultimately fail to capture the consumer’s heart & that business gave him a great learning experience.
3. Think Out Of The Box
This is one of the main reason why Virgin Group business are doing well. Most of their marketing campaign & business strategy are usually disruptive & creative. One of it as mentioned above is smashing through a wall of Coca Cola during the launching of Virgin Cola. With some room of improvement to make in the airline industry, Branson took the matter in his own hand & launched Virgin Airline to serve the consumer with better flying experience.
4. Focus On The Future
Venturing into the future with companies such as Virgin Galactic & Virgin Hyperloop One, Branson is definitely seeking to disrupt the current industry by introducing space travelling & high-speed rail.
5. Seeking New Adventure
Aside from having a huge business empire, he is known to be an adventurer with series of World Record attempts such as crossing the Atlantic Ocean with boat, crossing the Pacific from Japan to Canada with hot air balloon & many others. He is also an avid & experience kitesurfer.
Richard Branson Famous Quotes :
1. “We like to work fast, to try ideas, see if they stick, and if they don’t, quickly move on to the next,”
2. “Do not be embarrassed by your failures, learn from them and start again.”
3. “You don’t learn to walk by following rules. You learn by doing, and by falling over.”
4. “A business has to be involving, it has to be fun, and it has to exercise your creative instincts.”
5. “I never get the accountants in before I start up a business. It’s done on gut feeling, especially if I can see that they are taking the mickey out of the consumer.”
6. “Business opportunities are like buses, there’s always another one coming.”
Richard Branson Books :
1. Losing My Virginity : How I Survived, Have Fun and Made A Fortune Doing Business My Way (1998)
2. Screw It, Let’s Do It (2006)
3. Business Stripped Bare (2008)
4. Reach For The Skies : Ballooning, Birdmen and Blasting Into Space (2010)
5. Screw Business As Usual (2011)
6. Like A Virgin : Secrets They Won’t Teach You At Business School (2013)
7. The Virgin Way : How To Listen, Learn, Laugh and Lead (2014)
8. Finding My Virginity (2017)
Despite having Dyslexia and having poor academic result, Richard Branson did not give up & ultimately his business grew from a magazine business to a business empire. With the risk that he took for his business, he have won some & lost some as well. One thing for sure, he is not showing any sign of slowing down at 68 years old.
YES YOU SHOULD AND NOW.……. Its your time to shine Grasshoppa.