Building a business is hard in and of itself, but managing to maintain that business and withstanding the struggles of the entrepreneur industry is a whole other challenge. So small and aspiring business owners are constantly on the hunt for new and innovative ways to improve their entrepreneurship skills as well as the right icons to inspire them to do their best every day.
Over the years, businessman Richard Branson has kept his momentum in running his successful brand and business. This is the very reason why young entrepreneurs see him as one of the best and ideal role models in the industry. The British business magnate established and founded the Virgin Group, a worldwide group of various and popular companies, in the 1970s. Since then, his success in the field just kept on going and he has also managed to write bestselling business-related books like “Like a Virgin: Secrets They Won’t Teach You at Business School” and his 2012 page turner, “The Virgin Way: Everything I Know About Leadership.”
Given the helpful and highly-informative nature of his written works, you can already tell that Branson has always been generous with his tips and knowledge concerning the trade management. And in a recent sit-down interview, the tycoon shared some more insightful ideas that could help startups and small businessmen.
In the interview, Richard Branson said, “Most young people with good ideas will find that 99 percent of people will give them every reason why their idea’s been done before or why it’s not a good idea or why they’re going to fall flat on their face… In the end, you have to say, ‘Screw it! And just start doing it.”
Branson is a high school dropout, which is usually not a very good sign. But at the young age of 15, he was able to start his first enterprise, a publication for young activists called Student. Then just four years later, in 1970, he started selling records via mail. Just a year after that, he started his first record store. The next year, he opened his recording studio. The year after that, he had his own record label. In a matter of just three years, Branson built an empire, being a successful businessman at the age of 23.
As of 2020, decades after his first attempts at success, the Virgin Group remains a highly-regarded global brand of at least 350 organizations, now handling the entertainment, travel, as well as mobile industries.
But regardless of how it looks, Branson’s business plans have not always been successful. Virgin Group has managed to become household names because of Virgin Airlines and Virgin Mobile’s success, but do you remember Virgin Cola? Being a big name in the industry meant that your failures will be big and public too. So, Richard Branson preaches the real secret to prosperity, determination despite the inevitable failure.
Branson said that as long as you’ve got the right amount of determination, the probability of your success could come from what you’ve learned from all the times that failed to succeed.
Enjoy this video with Sir Richard Branson, where he goes into further detail about strategies to achieving success in the wonderful world of entrepreneurship: