“Success and failure. We think of them as opposites, but they’re really not.
Richard Branson’s Three Keys to Entrepreneurial Success
- Provide Untapped Value to the Customer: “The most critical thing with any new venture is we must deliver a tremendous value to the consumer so that it enhances all the ventures we’ve done before it,” says Branson. Today, the Virgin brand encompasses everything from soft drinks to airlines. Branson’s approach has been to provide something unique in each venture;
something the competition lacks. Find the value, find the customers.
- Exploit a Passion: “I start businesses when I have a passion for something. That’s also why I went into the airline business, even though everybody I talked to told me that there was no money to be made there. I felt that I could make a
difference. That’s the best reason to go into business because you feel strongly that you can change things,” says Branson. It’s the entrepreneurial passion and attitude that makes the difference in achieving lasting success.
- Trust Your Instincts: “A business has to be involving, it has to be fun, and it has to exercise your creative instincts.” Case in point, the “rebel-billionaire” relied on
gut instincts to take advantage of opportunities when they presented themselves. Branson wasn’t born wealthy, and began his empire by selling yet-to-be touched (i.e. “Virgin”) records out of the trunk of his car when it was unheard of to do so. Slowly but surely, he built the expanded his business until it became the multi-billion dollar empire we know today. Mix a great idea with passion.
Rich Dad’s 8 Core Values for Success
Robert Kiyosaki, author of the best-selling Rich Dad, Poor
Dad series, shares tips for getting ahead in business.
- Find equal opportunities. Don’t be a victim of the survival-of-the-fittest technique. Make yourself marketable.
- Get a life-changing business education. Feed your mental, emotional, physical and spiritual needs. No, this doesn’t necessarily mean sitting in a college classroom. Get an education from life.
- Latch onto friends who will pull you up, not push you down. Protect yourself from negative influences.
- Find value in your network. The more people you can meet in business, the better.
- Develop your most important business skill. Communicate, communicate and communicate.
- Be a leader. Influence others by being a great teacher.
- Don’t work just for money. Work to build wealth, not money. Invest.
Live your dreams. First of all, make sure you have dreams. Then make them a reality. You can be a successful businessperson and still make your dreams come true.
When Success Brings Its Own Set of Problems
Don’t become discouraged when you start succeeding. Most of us accept the fact that failure brings problems. But sometimes we are surprised that success does too. As a result, it is easy for us to become ungrateful or cynical.