Richard Branson | The success story of the hard working business magnate
Richard Branson is an English business magnate, investor, and author. His life has been filled with several ups and downs. Despite that struggles and failures he came across he never chose to give up. He has embraced both his triumphs and his setbacks. He has used all failures as his stepping stones to success. Richard was very persistent and his consistent goals aided him throughout his success. He personifies hard work and confidence.
Richard Branson’s early failures :
Richard Branson was born in Surrey, England in 1950 to Edward James Branson and Eve Branson. He faced a lot of problems and failures right from his childhood. In school he wasn’t a very studious child. Learning was difficult beqcuse of his dyslexia. He struggled hard to keep up with his peers. Despite losing confidence at times, he never chose to step back. At 16, he decided to drop out for good. Follwoing this he wanted to chase his passion. He went ahead to establish Student, a youth-culture magazine for students. Student’s first issue came out in 1966 and sold $8,000 in advertising and 50,000 copies released for free.
This first step was a tremendous success. He interviewed prominent people and published the articles on his forum. He also started to sell records through the magazine at a discounted rate. This also worked out perfectly and this led to Richard’s next step. He opened a record shop in, but was labeling records sold as export stock. Since he didn’t know much about this he ended up paying hefty fine and unpaid taxes. There was a reversal of progress and his mother had to re-mortgage the house to help his son pay the settlement cost with the government. While Richard was disappointed, he made sure to change the table over again. This failure was a stepping stones towards his remarkable success story.
After the mishap, however with time the Virgin Records store was a success. This was a major breakthrough for Richard and he went ahead to create his own record label. He created Virgin Atlantic and the Virgin Megastores. Following this to sustain in the market, he has to sell the record label or have to suffer a major financial failure and loss in the airline industry. This was another major blow in his career. He sold the label to EMI for £500 million and was completely distraught after this. But, eventually, with his persistent efforts, Richard Branson changed the things over. The airline succeeded and the Virgin brand today is synonymous with value and customer service. Now his global brand, Virgin Group, is ruling the market in a variety of fields such as music, telecom, hospitality and travel.
Life lessons from Richard Branson’s life :
A major lesson from Richard Branson’s life is to never give up. Failures and struggles are a part of life. What matters in life is to make a difference but overcoming all these. Always keep yourself motivated. Do not be embarrassed by your failures–learn from them and start again. When your are hard working and passionate about something your are sure to reach it. Past errors are only additional motivation to go forward and accomplish new goals. Always remember that continual work, learning from errors, self-discovery, and persistence lead to great achievements. Success it not too when when your persistent and confident.
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How did Richard Branson change the world?
Starting in the 90s, and going on till today, the serial entrepreneur has broken into many other industries, including the railway industry, clean energy, space flight, telecommunications, healthcare, and even comics.
How much money does Richard Branson have?
450 crores USD (2021)
How much of Virgin does Branson own?
Branson’s stakes at the time included 100 percent of Virgin Enterprises, 59 percent of Virgin Galactic, and 51 percent of Virgin Trains and Virgin Atlantic, but only 10 percent of Virgin Books and Virgin Australia and 0 percent of Virgin America and Virgin Media.