subject: Business Lessons Learned From Richard Branson [print this page] Richard Branson might appear to be the epitome of the business worlds wild child, an entrepreneur gone wild if you will, but theres more to this man than might appear at first glance. For those who have not followed his career, Bransons success may appear to have come easy, however; there have been plenty of bumps in the road for this entrepreneur, adventurer, Renaissance man, family man the descriptors could go on and on. During the course of this storied career, Sir Richard Branson has taught the business world some interesting and often quite valuable lessons.
Risk vs. Reward
Richard Branson is a great example of a person who is not afraid to take a risk. From record label to airline, mobile phones to soda, Bransons variety of business ventures personify a risk taker, and someone who is willing to try his hand at different things in pursuit of success. This fact is illustrated even more so by some of Bransons attempts at promoting the Virgin name. Some would call his efforts publicity stunts, others would call them foolish endeavors. Almost all would call his adventures risky, adventures that included transatlantic boat crossings, and voyages in hot air balloons voyages, which helped to promote Branson himself and the Virgin name.
Dont Back Down
When the much larger British Airways took a stab at their competitor, Virgin Atlantic Airlines, using a variety of what might be considered underhanded tactics in what became known as the Dirty Tricks campaign, Richard Branson didnt sit idly by. He fought back with, and won a settlement against British Airways. His actions illustrated that he would not let himself or his business be intimidated by a larger competitor.
Make Difficult Decisions
When it comes to business, difficult decisions must often be made, and it was no different when Richard Branson found himself feeling the pinch for cash in the early 90s. Branson sold off his beloved Virgin Records to raise cash for and focus upon Virgin Atlantic Airlines. This goes to show that a strong businessperson cant always sit back and let someone else make the tough calls. In business, tough decisions must be made all the time, but once those decisions are made, looking back can slow distract from present endeavors. Bransons example has shown the benefits of thrusting all energy to the forefront of the current project and focusing on the work at hand.
A Life/Business Split
Theres more to life than business, however; Richard Branson manages to pair the two intimately and successfully. Sure, it might be easy to live the good life when youre the head of a billion dollar empire, however; through his immensely successful career, Sir Richard teaches us that passion, life, adventure, family, and business can be combined in pursuit of ones dreams. One doesnt necessarily have to sacrifice happiness to achieve his goals and vice versa.
by: Elisa Vuelo
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