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You’ve prepared yourself and considered all possible outcomes, and therefore will be better prepared for whatever may happen.This is especially important because your original idea may not actually be what catapults your business into the stratosphere. What was once a simple search engine has seized every opportunity—and even a few it shouldn’t have—and is now responsible for our go-to products for everything from web browsing to email and collaboration, and from art education to driving directions.
We employ a gatekeeper - a corporate development assistant - whose job it is to record, log and classify all ideas as they arrive. So that our own vested interests don't blind us to new opportunities, none of the committee runs a Virgin business on a day-to-day basis. They will rigorously push and pull your business plan about to see if there is a profitable business underneath.
We look at spending plans, income forecasts, the marketing budget, and when the company is likely to break even.
The first law of entrepreneurial business: there is no reverse gear.
No one in business can unmake anything, any more than a band can unmake a song.
Google has changed how we interact with each other on a daily basis and has even introduced new cultural norms, all from realizing its potential and applying its founding principles to other areas that needed improvement.
Richard Branson Business Plan
Being able to recognize the opportunity in front of you and react accordingly will make or break you and your business.
I had never been interested in being "in business". The greatest and most unusual achievement of the Virgin Group is that it remembers what it's for. Although the combined Virgin Group is the largest group of private companies in Europe, each individual company is generally relatively small in its sector.
You can paint anything - anything - and there, right there, is your first problem. Would I have been happy without my successes in business? But again, it depends on what you mean by business. Almost certainly not: we've built it to contain any amount of damage, by organising it into around 300 limited companies.
The good news is that if you can find your idea, your philosophy, and your passion, and combine that with a killer business sense, and just happen to be at the right place at the right time, you’ll be able to create your own success.
And that’s really what being an entrepreneur is all about.