industrialwhoswho

So standing in Frankfurt's train station I finally discovered Richard Branson's autobiography "Losing my virginity".

It's an amazing book with rich detail about Branson's beginnings in the 70s and 80s and the scaling of 'the empire' after that. Branson has shown appetite for many business and business strategies most analysts would reject immediately. Virgin Atlantic had nothing to do with Virgin Music but still Branson was determined to run both businesses at teh same time, not listening to advisers (for good or bad).

As the publisher puts it:

Many of Richard Branson's companies-airlines, retailing, and cola are good examples-were started in the face of entrenched competition. The experts said, "Don't do it." But Branson found golden opportunities in markets in which customers have been ripped off or under-served, where confusion reigns, and the competition is complacent.

Richard Branson basically had one hit with Virgin Music (the record label) and used this cash flow to invest in other business plans. Most of the businesses under the Virgin label actually had a founder or founder team and Branson contributed cash, brand and sometimes publicity. That was worth 40% or more for many entrepreneurs and has paid off most of the time. The story of setting up Virgin Atlantic along all those setbacks is equally telling – Branson managed to brush aside all obstacles with luck, determination and sheer desperation sometimes.

The book is inspiring as it gives real life examples of pro/cons of going public, investing in new businesses (with no clue about markets inner workings) or when to hold on to failing businesses or when to better cut your losses.

As the title puts it – a must read for every entrepreneur.

P.S. The book is of course published by Virgin Books