Business schools are wonderful places and yet, in hindsight, I am thankful I never went to one-assuming that is that any of them would have had me!
The simple fact is that formal education and I were never really meant for each other. I suffered from an acute combination of dyslexia and what I suppose would nowadays be diagnosed as attention deficit disorder. When I went to Stowe School in the sixties however, I was simply regarded as an inattentive and troublesome student. As a result I think everyone from the headmaster down was probably rather relieved when I decided to drop out and pursue my dream (at that time) of publishing my own magazine.
Had I pursued my education long enough to learn all the conventional dos and don’ts of starting a business I often wonder how different my life and career might have been.
Although the word was allegedly first coined in the nineteenth century, I certainly had no idea when I started my magazine and subsequent mail-order record businesses that I was also displaying some quite marked symptoms of something called ‘entrepreneurship’.
While the word would have meant nothing to me then, it has since become pretty much the core of everything I have done for the last forty-plus years. The Virgin group of companies has grown in some weird and wonderful ways that even I don’t always quite understand. Sometimes I wonder if the fact I was never indoctrinated into the ‘correct’ way of doing something is why, come what may, I seldom have trouble sleeping at night.
I talk a lot in the articles I hope you are about to read about the important role I believe entrepreneurs have to play in this world. The creative juices that lead to entrepreneurs starting and reviving businesses not only create employment but also help tackle some of the many challenges facing our communities, society and the planet.
Entrepreneurs are innately curious people. This must be why I receive loads of mail from people all around the world asking all manner of questions on doing business ‘Like a Virgin’. The following pages are a blend of responses to questions I have received, as well as an assortment of my written ramblings that have appeared in various publications around the world.
The people who contact me tend to be looking for advice on everything from starting a new business to closing an old one, from hiring people to firing them and – the fun part – everything else in between. Given my well-known focus on business always being enjoyable and fun, the boundary between my work and my personal life does sometimes tend to blur a little: so too do the questions I receive!
As I have never worked for anyone, this book is written through the eyes of a founder. However, the advice is pertinent for anyone faced with the challenges of working in a business or company.
Just recently in London a British interviewer asked me a great many short questions about both my work and my personal life; so by way of introduction to what’s to follow, these were some of the more interesting exchanges:
Q: What’s the first thing you think of when you wake up?
A: Like most people, I think about the time! Often followed by ‘What country am I in?’
Q: Which single word gets you out of bed in the morning?
A: It’s three actually, ‘Richard. Stop that!’ in my wife’s Glaswegian accent.
Q: Which is your favourite band?
A: Okay, I’m biased but it has to be the Sex Pistols and Mike Oldfield, who were both the genesis of Virgin Records – oh yes and Genesis, too.
Q: Which was the first record you bought?
A: I’m embarrassed to say, I think it was Cliff Richard’s ‘Summer Holiday’.
Q: Best country you have visited?
A: Tough call, but probably Australia. I just love the Aussies’ zest for life – a wonderful, vibrant country.
Q: Favourite country?
A: Much as I adore living in the British Virgin Islands it has to be the UK. It’s been very kind to me over the years.
Q: Three most adventurous things you have done so far?
A: Trans-Atlantic speedboating, hot-air ballooning and kite surfing. Space adventure is still to come although, ironically, it may be the least dangerous thing on this list.
Q: If you could meet a legend, dead or alive, who would it be?
A: I assume you’d bring them back to life for the meeting? If so either Christopher Columbus who, among a lot of other places, first sighted the British Virgin Islands, or Sir Francis Drake. I’d love to have been an explorer of that calibre.
Q: Who is your mentor?
A: My mum and dad. They’ve both been a tremendously positive influence on my life.
Q: What is the greatest piece of wisdom you’ve ever heard?
A: To look for only the best in people. And if I can have a second one, ‘Only a fool never changes his mind.’
Q: Favourite song?
A: Frank Sinatra’s ‘My Way’. Probably not the coolest answer you’d expect, eh? Especially from someone who once owned the biggest independent record label in the world.
Q: Has anyone ever mistaken you for somebody else?
A: Quite often. Once, a little girl came up to me and said, ‘You look just like that Richard Branson bloke.’ And I nodded and said thank you. She then said, ‘You should go and sign up for one of those lookalike agencies. You might not make as much money as him, but you would still make a fortune!’ I also get Brad Pitt all the time…just kidding!
Q: If you were given $60 to start a business, how would you do it?
A: If I were well known, I’d sign the dollars and sell each of them for $20. I would then sign the $20 and sell them for $50 and so on. As they say, nothing makes money like money!
Q: Is there anything you’d like to change about yourself?
A: It’d have to be my age. I’d like to start going backwards instead of forwards.
Q: What do you love and hate?
A: I love the closeness of our family. And I hate not being able to spend a lot more time with them. Actually, I also hate the word ‘hate’. There’s way too much of it in this world.
Q: What makes you cry?
A: I cry at happy and sad things. My kids always bring a box of Kleenex to the movies! I’ve also seen a lot of sights in places like Africa that would bring tears to anyone’s eyes.
Q: What makes you laugh?
A: I’m lucky. I laugh all the time. I love life, I love people, love a good joke. I really subscribe to the theory that laughter is good for the soul.
Q: What’s contributed most to your success?
A: All the people who’ve worked their tails off at Virgin over the years and have made it what it is today. There’s been some luck mixed in, for sure, but I believe luck doesn’t just happen – you have to work at it.
Q: The key to success in three words, please?
A: People. People. People.
Q: Anything you still want?
A: I’d like some grandchildren, as would my wife. Fingers crossed!
Q: What motivates you to carry on?
A: Everything! I love what I do, I love people, love making a difference. I don’t think I’ll stop until I drop. Why would I? I’m having too much fun.
Q: What drives you crazy?
A: Negativity. People who only look for the worst in others and ‘glass half-empty’ types. I can’t stand gossips!
Q: Are you stressed?
A: Not really. I try hard to overcome challenges and, if I fail, I pick myself up quickly.
Q: What keeps you awake at night?
A: It used to be partying but that’s a rarity these days. Now, very little keeps me awake at night. I usually sleep like a baby.
Q: What is your biggest fear?
A: Like a lot of people, I fear illness in our family or friends. Things I cannot control.
Q: Are you ticklish?
A: I’m the most ticklish person I know. Although just why it is that you can’t tickle yourself remains one of life’s greatest unsolved mysteries.
A: Achieving things that one can be proud of, especially when people said it couldn’t be done.
Q: Which one of the seven dwarves would you be?
A: Is there one called Horny? No? Okay then I suppose I’d opt for Happy!
Q: Has there been an event that changed your life?
A: Surviving the hot-air balloon and speedboat crashes, which meant I was around to meet Nelson Mandela. He’s an utterly incredible man; I’m truly privileged to know him.
Q: Ever thought about running for political office?
A: No. I don’t think you can mix business and politics. I’d have to give up Virgin and I enjoy it too much. I can campaign for (and against) a lot of political issues without actually becoming a politician.
Q: What is the most embarrassing thing you’ve ever done?
A: Well, the one I’m prepared to talk about was probably one time when Ruby Wax and I were in Mallorca. A young couple came up to us and asked something about taking a photo. So Ruby and I put our arms round each other, smiled, and the couple looked confused and said, ‘No, we want you to take a picture of us.’
Q: Who would play you in a movie of your life?
A: I used to answer that question with ‘me’ but was never sure I’d be handsome enough for the role. Just kidding! Probably Robert Pattinson from Twilight. He’s British and he’s young!
Q: If you were not you, who would you want to be and why?
A: I’d love to start again, and be my (still to get here) grandchild when he or she is born.
Q: Anybody of whom you are still in awe?
A: That has to be the Archbishop Tutu.
Q: What is your favourite sport?
A: I love skiing, and I play a lot of tennis, but right now I’d have to say kite surfing. It’s unusual, I know, but we’ve got the best conditions for it on Necker.
Q: Did running the London Marathon hurt you as much as it did me?
A: I don’t know how much it hurt you, but yes! The last few miles were pretty tough going, but the crowd was amazing and their enthusiasm carried everybody along. I highly recommend it.
Q: Three words to describe the Virgin brand?
A: Innovative, fun and quality-service-at-a-great-price. I cheated a bit on that last word!
Q: Anything left for you to achieve?
A: One of the most exciting things we’re involved in is the Elders. Trying to ensure that world conflicts are resolved more effectively or even become a thing of the past. I believe we are going to see the Elders achieve some fantastic things.
Q: Is there anything you’d have done differently?
A: With the gift of hindsight of course there are a lot of things I should have done differently, but in its absence the answer is no. I’ve had an absolute blast and hope to keep doing so for a long time to come.