Do not be embarrassed by your failures, learn from them and start again.
You hear so many stories about individuals searching endlessly for magical shortcuts to fast-track their entrepreneurial success and on their way to earning a six-figure salary. However, the fastest way from Point A to B is a straight line. All these individuals need to do is to dedicate their time to do a LOT OF WORK.
You have to start somewhere. Ideas and opportunities don’t just materialise out of thin air. For Richard Branson – he didn’t wait to start his company when he was ‘ready’. Instead, he was never prepared for the things that he did but took the initiative to make it happen.
Richard Branson was like everyone – by failing. But he always got back up. Here are some examples of when and life lessons to take from it:
1. When his first company wasn’t that successful.
Branson was a dropout at school, at the age of 16 no less. Despite the young age, it didn’t stop him from starting his own magazine company: Student. He was then exposed to the business world as his company provided a perfect launching pad for him to make a name for himself.
However, Student magazine didn’t generate enough revenue and the cash-flow could potentially create a problem for Branson. However, within a year of launching the magazine – he opened Virgin Records, a successful music company. Actually, successful remains to be an understatement for the new company – it grew into a billion-dollar recording empire!
2. When Virgin Cola drastically plummeted.
Branson went further to expand his brand, but this time – in the hospitality sector. Out of his miscalculations, Virgin Cola was the most popular ‘flop’. It was originally meant to compete with two of the world’s successful brands (Coca-Cola and Pepsi), however it wasn’t even in the running. So, if you aren’t unique, you essentially won’t get noticed.
The company only captured 0.5% of the US market share, stopping to produce the drink after 8 years of its initial release. This particular venture shut down quite quickly as the brand didn’t have a distinctive identity that set itself from the rest. But, through this – everyone was able to witness Branson’s unwavering commitment to his brand, unstoppable spirit and incomparable willpower.
2. When Virgin Atlantic Airlines almost crashed before it started.
Virgin Atlantic Airlines is an extremely well-known airlines that has successfully taken an extensive number of passengers safely to their destinations. However, that may have not been the case.
He rented a plane to launch his company, but unfortunately – a flock of birds flew into the engine and causing extensive damage. Instead of losing hope, Branson worked hard to get the repairs done quickly through pulling money out of his other ventures and the flight was a success.
Now, the question is:
What is holding us back from achieving our dreams? Perhaps not as much as we think!