Richard Branson – Think Big Formula
Sir Richard Charles Nicholas Branson was born on the 18th of July, 1950. He is a successful businessman, writer, investor and philanthropist and founder of Virgin Group which controls more than 400 companies worldwide.
Branson was born in Blackheath, London from Edward and Eve Branson. His father was a barrister and his mother a flight attendant. Branson is dyslexic and due to that had poor grades in high school. He was written off by his principal who told him, he will one day end up in prison.
“The brave may not live forever, but the cautious do not live at all.” – Richard Branson
Fortunately, his parents especially his mother, was a wonderful business role model for him. He watched his mother grow a successful venture of building and selling wooden tissue boxes and waste paper bins. At age 16, he had his first venture, a magazine called the “Student”.
In 1966, at the age of 16, Branson dropped out of high school to begin his first project, a youth magazine called “Student”. In 1969, he opened a record shop in London, which wasn’t as successful as his magazine. Despite that, it provided him with the capital needed to grow more businesses.
In 1972, just a few years after, Branson opened his own recording studio called “Virgin Records” and many artists used the studio to record songs.
Branson’s business grew and expanded, adding the Voyage Group (a travel company) in 1980, Virgin Atlantic (airline) in 1984 and a series of virgin megastores.
In 1992, his company; the Virgin Group Limited fell into bad debt and struggled to survive. Unable to come out of the horrible financial situation, the Virgin Group was sold to EMI Group for an estimated amount of 1 billion dollars. This, as expected, caused Branson so much pain.
Being a die-hard fighter, a few years later he started his journey all over again and he founded V3 records. In 1993 Branson started a radio show, soon he added Virgin Airline and Virgin Galatic to his Virgin empire.
Asides from being business minded, Branson is also very adventurous.
Branson is a humanitarian and a philanthropist, hence his formation of Virgin Unite. The Virgin Unite is like an umbrella of the Virgin foundation, an independent charitable organization of the Virgin Group created by Branson and other virgin employees in September 2004.
“There is no greater thing you can do with your life and your work than follow your passions – in a way that serves the world and you.” – Richard Branson
Virgin Unite pulls volunteering efforts from across Virgin group and its subsidiaries to grow smaller charitable organizations.
Organizations tend to the social needs of people all over the world. Free welfare, medical care etc are given to the beneficiaries.
His stories are not all successful, Branson failed many times: Virgin Cola, Virgin bride, Virgin cars, Virgin clothing, Virgin publishing were all failed ventures which did not deter him from trying and coming up with more ideas.
The lessons from Branson will be taken from his book “How I lost my virginity”.
- Challenge your yourself; staying in your comfort zone will not bring out all your potentials. You have to task yourself in order to be better. Get something challenging, that will stretch you. It helps build endurance and resilience level. In his book, Branson highlighted some instances were his mother challenged him many times on different tasks. Remember, no pain, no gain!
- Think big; think outside the box, why limit yourself to a particular pattern? “Think Big ” formula, helps you break the limits.
- Eggs in multiple baskets; this is an expression that simply means, that you should diversify. Have two or multiple strings of income, life is unpredictable and anything could go wrong. You need what you can fall on as a backup plan for any crisis. The opposite of this expression is “put all your eggs in one basket”, what happens when the basket falls – all your eggs get broken.
- Start first, get ready later; the mind is tricky, stop overthinking things. What are those excuses you’ve created in your mind, that has prevented you from taking that big step? Clear those excuses out of your head and make a move today!
- Abundant mindset; Branson wanted the Virgin Empire to be much more than a money making machine, so he gave back to society.
In conclusion, there is no doubt that Richard Nicholas Branson has been able to amass such wealth and fame because of the tips listed above.
He has companies in more than 50 countries, including the UK, US, Canada, Australia, Asia, Europe.
You too can be as influential as Branson, if not more!
Image By: aitoff
Excellent Books To Look At:
- Losing My Virginity: How I’ve Survived, Had Fun, and Made a Fortune Doing Business My Way
- Screw It, Let’s Do It: Lessons In Life (Quick Reads)
- Like a Virgin: Secrets They Won’t Teach You at Business School