10 Entrepreneurial Lessons from Richard Branson’s Autobiography, Losing My Virginity
Success can take off without warning
Happy Sunday.
Its been a relaxing weekend and its a good time to plan against the week.
And if you like to read, you wouldn’t go wrong with an “Autobiography.”
One of the best books i read last year was “Losing my Virginity” by Richard Branson.
In his autobiography, Richard Branson details how he overcame a number of challenges in his early life to become the successful entrepreneur he is today.
Here are are a few lessons I learned from reading this timeless piece:
FAILURE IS NOT FATAL
Branson's story is an inspirational tale of never giving up, even when the odds are against you.
The first project he gave his heart to "Student" at 16 right from high school died a quiet death with no one to purchase it but yet that didn't stop him.
His other business failures include Virgin Cola, Virgin Cosmetics, and Virgin Brides, in addition to having to sell Virgin Records.
At a point he noted in the book - "Every successful businessman has failed at some ventures, and most entrepreneurs who run their own companies have been declared bankrupt at least once."
You can always find a way to succeed no matter how many times you fail.
SUCCESS CAN TAKE OFF WITHOUT WARNING
There is no one-size-fits-all approach to success. It's possible that what works for you won't work for someone else.
The same way failure can teach you lessons; if you hang around and keep making progress - success can take you off by surprise.
The record industry which he switched to later on the business started making hits with artists like Mike Oldfield with the album "Tubular bells."
He saw big time success he couldn't have predicted.
TAKE RISKS
Throughout the book, Branson shares stories of how he took risks and didn't let fear hold him back, which led to some of his biggest successes.
Branson was not afraid to take risks. He believed that if you don't take risks, you will never achieve anything great. This mindset led him to accomplish some amazing things."
The most interesting question he asked himself when going into Airline was "what's the biggest risk?"
The most Virgin would lose would be £2 million.
It was a risk Virgin could afford and to their surprise was not a regret.
‘Nothing ventured; nothing gained’.
FOCUS ON WHAT GIVES YOU INTERNAL JOY
Branson filled his life with things he was passionate about, whether it was music, business, or philanthropy. This led to him being incredibly successful in all areas of his life.
All the Balloon travels, his business choices in terms of partners and risk taking was all based on what give him the most joy.
“My interest in life comes from setting myself huge, apparently unachievable, challenges and trying to rise above them. But another part of me is driven to try new adventures, and I still find that I want to push myself to my limits.”
To be successful, be passionate about your work. The goal is to build a business with something you’re passionate about.
Hard work isn’t hard if you are passionate about it. On the flip side of that, even easy work is hard when you hate what you are doing.
Full lessons here:
https://stevewinroad.com/richard-branson-losing-my-virginity-autobiography/
P.S: We’re two days into a February.
How’s the New Year going for you?