Eleven Business Tips From Richard Branson
Last weekend, a friend gave me and my family a wonderful ride in his plane. Departing from Edwards AFB, we flew over the Mojave Air and Spaceport, home of the world’s largest private manufacturer of spacecraft, The Spaceship Company (TSC).
TSC is building spacecraft for Richard Branson’s Virgin Galactic space fleet. Despite the fact that the specific date of Virgin Galactic’s maiden voyage remains unscheduled, over 450 citizen astronauts have put down a deposit of at least $20,000 on the $200,000 per-person fare.
In October of 2011, the company announced a $4.5 million deal with NASA to use Virgin Galactic spacecraft to conduct experiments, filling the void left by the retirement of America’s shuttle program.
It is undoubtedly impressive that Richard Branson has motivated a government organization and hundreds of intelligent, affluent people to commit millions of dollars to secure a service that does not yet exist. Even more striking is that this super-salesman is a self-taught, high school dropout.
Richard’s Startup Tips
1. Give Your Customers (And The Media) What They Want
“With the casino and the beds, our passengers will have at least two ways to get lucky on one of our flights.”
Richard often utilizes humor when speaking with the media, as he knows that a humorous sound bite is more likely to be published and more readily remembered. Slightly off-color, unconventional quotes will help ensure that your startup’s voice is heard.
2. Heart Over Head
“I never get the accountants in before I start up a business. It's done on gut feeling...”
Utilize quantitative analysis to guide and inform your decisions but do not allow the numbers to dilute your passion. After listening to a particularly sobering financial analysis, Richard often replied, “Screw it, let's do it.” He used this term so often that it eventually became the title of his 2005 book on business advice.
Richard understands that assumptions and financial forecasts provide a limited view of an initiative’s range of potential results. He also knows that once a proposal is launched, real-world data will allow him and his team to make unanticipated, incremental changes which will positively influence the project’s ultimate outcome. Such insights are impossible to ascertain by standing on the sidelines, analyzing data.
3. Fun Matters, A Lot
“Right now I'm just delighted to be alive and to have had a nice long bath.”
Take time to enjoy your accomplishments and relish the small joys of life. After his third failed attempt to travel around the globe non-stop in a balloon, Richard told the media, “I think the most important thing is that in the last seven days we've just had the greatest adventure of our lifetimes.” This was despite his public humiliation and the fact that he lost a $300,000 bet.
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