He was academically poor, but was able to connect with others around him.

Eventually, he
dropped out of school, realizing it was not where he wanted to be.
he started his record business from the crypt of a church and advertised the famous records
in ‘The Student’, a magazine. The magazine became an instant success and he soon began
trading records under the name, ‘Virgin’.
Branson set up a small recording studio in Oxfordshire, England in 1972. The first artist on
the Virgin Records label was Mike Oldfield, who recorded the song, ‘Tubular Bells’.
he signed other musical groups with Virgin Records such as the Rolling Stones, the Sex
Pistols and the Culture Club.
Virgin Records became known for signing even controversial bands such as ‘Sex Pistols’
which were refused by other record companies.
he found his innate ability to connect with people
In 1992 Branson had to sell his Virgin label which was bought by EMI for £500 million.
Branson was very unhappy about the sale because it had been the first company of the
Virgin Empire.
Before the launch of Virgin Mobiles, Branson decided to expand into the railway industry
which is considered to be a risky venture by many. Virgin Trains also got the franchises for
Cross-Country sections of the British Rail as well as the Intercity West Coast.
irgin Group also acquired the Euro Belgian Airlines which was called Virgin Express. It
also started a national airline in Nigeria by the name of Virgin Nigeria. Virgin America,
another airline began in August 2007. A less successful brand of Virgin Group was Virgin
Vodka and Virgin Cola. Virgin Group now comprises of 400 companies in more than 30
countries. Richard Branson is also known for his world record breaking attempts out of
which he succeeded in crossing the Atlantic in his Virgin Atlantic Challenger II in 1986
and the Atlantic and Pacific crossing in a hot-air balloon in 1987 and 1991 respectively. He
was knighted in 1999 for his immense contribution to the world of business.
which initially defied the wishes of his father. Ted Branson told his son to be a lawyer.

"Later, I felt awful because I had said to him just what my father had said to me. So, the
next weekend, I walked him up and down the lawn once again and told him to forget
everything I'd said," Branson's father reportedly said, according to a 2011 obituary in
the Daily Telegraph,
The Virgin Group has gone on to grow successful businesses in sectors including mobile
telephony, travel and transportation, financial services, leisure and entertainment and health
and wellness. Some of Virgin's companies include Virgin Pulse, Virgin Sport, Virgin
Galactic and most recently, Virgin Hyperloop One, billed as the world's most revolutionary
train service. Virgin has created more than 400 branded companies worldwide and employs
more than 60,000 people, operating in over 50 countries.
Surprisingly, Branson recently revealed that Virgin does not put the customer first. In fact,
Virgin employees are the company's top priority. That may sound counter to decades-old
business wisdom, but it has worked so well for Virgin that Branson says he's surprised
more companies haven't adopted an employee-centric management strategy.
"It should go without saying, if the person who works at your company is 100 percent
proud of the brand and you give them the tools to do a good job and they are treated well,
they're going to be happy," Branson tells Inc. president and editor-in-chief Eric
Schurenberg in an interview.
"Effectively, in the end shareholders do well, the customers do better, and your staff
remains happy,"

Dan Schawbel: You have been starting, managing and advising companies since you were
a teenager. What keeps you motivated to continue this entrepreneurial journey?

Richard Branson: I love learning and everyday I'm learning something new. I've got
myself into a position where I think I can achieve a lot. I can pick up the phone to perhaps
anyone in the world and they'll take the call. I didn't have that luxury when I was struggling
as a teenager many years ago. That means I can cut through and get things done. I've
become a bit of a serial philanthropist like I've been a serial entrepreneur, trying to take on
some of the bigger problems of the world and see whether I can help resolve them. I get
enormous satisfaction from it and I think the people I work with get enormous satisfaction
from it.

Schawbel: How do you decide what companies to start, to invest in or to license the Virgin
brand name to?

Branson: We very rarely license the Virgin name per se, we normally start as either
owning the company or a big share holder in the company. Then, maybe later on in the life
of the company, once it's matured, we might sell it and then use the money to start new
companies. The kinds of companies we go into are often areas where we're frustrated and
feel it could be done better. For instance, we've just announced Virgin Hyperloop and I run
the biggest train company in the U.K. The fastest our trains can go is about 135 miles an
hour. I love the idea of being able to run a network in a tunnel at 600 or 700 miles an hour
and so we had to leap in there.

On Starting a Business

Challenge The Status Quo

Challenge the accepted wisdom and encourage your staff to do the same. Look at
things from the point of view of the customer. Here are two examples where Virgin
took a totally unique perspective on things:
Virgin Money is a bank in Britain where the branches look more like living rooms
than banks. There are tables for Wi-Fi, newspapers, and comfortable seating. This
eliminates lines and teller windows.

Virgin America Terminal 2 was a terminal with a yoga room, a wide variety of food
choices, etc.

It’s important to create something different, something that will stand out.

Create Value In The World

Branson says that he starts a business only if it will improve people’s lives. He was
unhappy with the customer service he was getting from British Airways, so he started
a new airline, Virgin Atlantic, which is focused around the customer.

Building something you’re passionate about is important as well. If Branson hadn’t

been passionate about building an airline, he wouldn’t have put so much time into
getting the staff, buying the aircraft, and

Dream Big

Branson’s first book, Losing my Virginity, was almost titled Talking Ahead of
Yourself. Branson goes on to say:
“Because I sometimes think in life you’ve got to dream big by setting yourself
seemingly impossible challenges. You then have to catch up with them.
Investors Bring More Than Just Money

When examining investors, Branson suggests that you ask yourself, “Will this person
or group give us the space and time we need to build a great business?” A “dictatorial
financial partner” can ruin the spirit and enthusiasm of entrepreneurs, so ensure that
your investor is someone who will let you run your company without getting in the
way or questioning every decision you make. Remember that it’s not all about the
money and that the person you are bringing on is also important. They carry more than
just a checkbook.

The most important partnership you have is the one with your staff. Branson says that
if you get that right, your chances of success are much higher.

“Your company should act as a springboard for ambitious employees, not a set of
shackles.”
“There’s no doubt it can be easier to achieve lofty ambitions if you already have financial
backing,” he writes, “but in many cases you don’t need lots of money to start a business.”

He uses himself as an example. Branson, dyslexic, dropped out of school as a teenager. He

has said he was considered, “the dumbest person at school.”

Richard Branson started at age 16 with his magazine, called Student, which interviewed
celebrities and sold almost $8,000 worth of advertising for the first issue. The teenager
dropped out of school to promote his magazine. In 1969, he started a mail-order record
business that used the magazine office as an operating base. Branson and his team of 20
employees called the new business Virgin.

In 1970, Branson launched Virgin Mail Order Records. After a rocky start, he grew to own
14 record stores by 1972. He used the profits from his record store chain to found music
label Virgin Records in 1972, and he earned his first million dollars in 1973, when Virgin
recording artist Mike Oldfield sold over 5 million copies of his record, "Tubular Bells."

Sir Richard Branson and his Virgin Group are getting into the cruise business.

The iconic entrepreneur announced last Thursday that Virgin Voyages was officially open
for business, with tickets for its maiden voyage in April 2020 available for purchase.

Virgin Voyages, a joint venture with Bain Capital, will not only be Branson's first foray
into the cruise business, but it will also be his first experience with cruises in general.
Which means, expect Virgin to break with the status quo.

"I never want to go into a business unless we are going to radically alter it and radically
create something that everybody who works for Virgin and everybody who come into
contact with Virgin is going to feel really proud of," Branson said in an interview with
Business Insider.

For passengers, the Virgin Voyages experience is designed to differ greatly from that of
traditional cruise lines with free WiFi for all and no buffets on board.

In addition, passengers won't be charged gratuities. Instead, the ship's crew will be paid a
salary and won't have to depend on tips for income, McAlpin told Business Insider.