Richard Branson is a British entrepreneur and the founder of Virgin Group. This group consists of more than 400 companies which include an airline, a mobile phone company, a record label, and many more. Business Secrets of Richard Branson
He started as a music lover as he was running a mail order service for albums at the age of sixteen. In 1972, he set up his first business venture called “Student Magazine”. He later on expanded this business to release other magazines such as “Popshop” and “Empire”. In the 1970s, Branson entered the music industry by starting the recording studio called The Manor Studio. He then formed a band named “The Sex Pistols”, whose career was short-lived but their popularity grew among people.
The business of Virgin Records started in the early 1970s with one record shop. Today it has expanded to include more than 350 companies that are spread globally. Branson uses this company as a base to launch other ventures including Virgin Galactic, which is focused on commercial space travel. The business empire of Richard Branson also includes Virgin Mobile and Virgin Trains among many others.
Branson’s first attempt at starting an airline was not successful but he did not give up easily. He went on creating another airline called “Virgin Atlantic”. This airline is still operating successfully today running flights globally throughout the United Kingdom, Germany, Australia and New Zealand among many countries. It now holds about 25% share of the transatlantic flight market between London Heathrow and New York JFK.
In this article, you will find a detailed analysis of his business secrets in different sections starting with a brief biography followed by the top three lessons from his book. Then we have a section dedicated to some interesting facts including his future plans which you can learn from if you want to emulate Branson’s success. Finally, at the end of the article is a section on where to buy this book so that you can add it to your collection.
At the age of seventeen, Richard Branson started a small record business named “Virgin Records”. His first job was to label records then stack them in shelves after which he would sell them out by going door-to-door. Later on, he opened a chain of record shops all across London.
During this time he started Virgin Records which was the first label owned by musicians themselves. This proved to be a great success as it dominated the market during that period. He, later on, moved into recording studios and ended up creating one studio called “The Manor” followed by many other studios after which he was considered as one of the biggest producers in the United Kingdom. By 1976, Richard Branson had launched four successful businesses.
Branson used his initial success to expand his business ventures around the world.
Some are listed below next to their estimated worth:
Virgin Atlantic - $1billion Virgin Mobile - $2billion Virgin Media - $5billion Virgin Management Group -8billion Virgin Health Care - $6billion The Three Lessons to be learnt from this Book:
Lesson One: Meeting Challenges Head On and Turning Them into Opportunities.
Almost every challenge in the life of Richard Branson turned up an opportunity for him because he was prepared for it. At one time, Branson was planning to buy a record shop but ended up losing money on it due to miscommunication with the staff. This led him to start his own record business which expanded rapidly after that. It has been recorded that he did get bankrupt once but this did not stop him from coming back stronger than ever before making him what he is today. He also had failed businesses including Virgin Cola and Virgin Clothing but these were later rebranded as Virgin Mobile and Virgin Active respectively.
There are several lessons to learn from this, the most important being that if at first, you do not succeed tries again until you get there. No matter what challenge comes before your way, stay calm, think of a solution, and boom! It will turn out better than how it was at first.
Let’s look back on the case of Richard Branson who went bankrupt in his early years then later built one of the biggest companies in the world with billions of dollars’ worth. If he can do it, why can’t we? Many people tend to give up when they meet their first challenges thinking that they won’t make it but this is simply not true. What if Richard Branson thought like that? He would have given up on the first try then his name wouldn’t be that well known today.
Let’s face it; everyone has their fair share of challenges when they are starting out in business or even in life for that matter. The ones who will succeed are the ones who meet them head-on and turn around to opportunities while working hard to achieve what they want in life. That is why I say no matter how impossible your dream may seem, it is still possible if you work hard enough.
There are many lessons that can be learned from this book but the above three should suffice for now. This book is completely worth buying and you will not regret it. It has cost me around thirty dollars (not including shipping) which I believe is a very reasonable price for all of the secrets to success.