How to open a business according to Richard Branson
Over the years, Richard Branson has started and succeeded hundreds of companies around the world. What are the fixed points that, according to him, cannot be missing when you want to develop a business idea?
Opening a business can be difficult and frustrating. Even a tycoon like Richard Branson, who in his life has started hundreds of companies in every country of the world, knows something about it. After 40 years of experience and having been considered one of the most brilliant entrepreneurs in history, Branson does not pretend to know everything about this topic yet, nor does he pretend to indicate a single path to success.
There are, however, some points, some items that, whatever the business idea that you want to develop, and whatever the internal conditions (skills, knowledge, capital ...) or external (market situation, competitors, regulatory ...) , according to Richard Branson cannot be missing .
Being an entrepreneur means being curious and interested in every aspect of life. If you immerse yourself in life, if you throw yourself into it, you will immediately realize what you are missing, or what can be improved. Curiosity, the real one, which is never satisfied, is one of the most important qualities that an entrepreneur can and must possess.
Identify your idea
Most of the best ideas have arisen out of situations of personal dissatisfaction. Why did Branson found Virgin Atlantic? Because there was still nothing like his vision. An entrepreneur must be able to see opportunities where others see obstacles.
He is naturally attracted to challenges, transforms them into opportunities, finds solutions and overcomes the obstacle. Or, better yet, it removes it. The world is chock full of markets, sectors, niches ready for a shock, for an idea that will revolutionize them and reshuffle the cards to give a new push.
Be and stay passionate
The line between success and failure is always very thin when starting a new business. Without passion it will be very easy to find yourself on the wrong side of this border. If you don't really believe in your idea, product, or service, you'll have to resign yourself to failure.
It is the passion that keeps you focused on your goal and how to achieve it. Almost everyone has the opportunity to become an entrepreneur and start a successful business, as long as they are really passionate about their idea.
Think about people first
The success of your business depends on the dynamics of your company, and the dynamics of a company depend on the people. It follows that it is therefore essential to find the right people with whom to start your journey.
Branson founded many of his companies with family and friends, and today works alongside his children and their partners. It is important to start a business with someone you trust completely. If you don't have the confidence, you have nothing.
Listen and learn
The worst fault a leader can have is that of speaking, speaking, speaking, but not knowing how to listen. Branson says that the success of his idea has almost always been thanks to what he has learned from other people. If you want to be a good leader, you have to be a good listener first . You need to be ready to listen, learn, take notes and absorb knowledge. Continuously. Forever. Each person can teach you something.
It is not a question of "University of Life", but the best education, the best training you can have is always at hand, as long as you are ready to welcome it. You have to be ready to roll up your sleeves, get your hands dirty, and learn from experience. Only then can you learn everything you need to know about starting and running a business.
Opening a new business can be very difficult, but if you can keep yourself curious and passionate, if you can find the right idea to spark the spark you were waiting for, if you know how to choose the right people and learn from them, you may not only be in able to start a successful business, but even more than one!
Our best strategy you should know.
What are the costs of starting a business?
After an initial research phase, you need to be ready to incur a cost for the purchase of the business which is defined based on the value of the business turnover. Goodwill is divided into two types of components: the objective one (which includes, for example, patents and machinery) and the subjective one (represented by the entrepreneur's ability to attract new customers and retain the old).
Do you want to take over a business?
You just have to take a look at the commercial activities for sale on our portal. Below you will find some of our proposals for commercial activities in Brianza.
Take over a business
Sometimes, before deciding to open a business from scratch, it could be a valid alternative to detect an existing one. For this, however, it is necessary to search for the one that satisfies your desires and analyze all the documents available to determine whether or not it is the right choice.