12/07/2024
What it takes to be an entrepreneur...
Are entrepreneurs born or made? I was asked this recently by a friend’s kid and it got me thinking.
I think everyone is born an entrepreneur, but only some people do something about it. What is the difference between someone who has a great idea and an entrepreneur? The entrepreneur has given it a go!
Ever since I was a young boy, I’ve always had ideas and thrown myself into them. It didn’t matter if they didn’t work, I tried to improve it, took some advice or tried something else. Failure is part of the journey.
When I was at school, I had an idea to make money from Christmas trees. My plan was to plant 400 of them in the field behind my house and wait for them to grow large enough to sell. I did some of the maths and thought I might be able to make £795 of profit if I could sell them for £2 a tree.
I planted them and dreamed about what I could do next if I made that money. Unfortunately, I came back from boarding school in the summer holidays and I was dismayed to find that there were only a few tiny plants growing – the rest had been eaten by rabbits.
Did I let this stop me? Absolutely not. I realised that I couldn’t make a Christmas tree farm work because I wasn’t there to tend to it – and, if I was honest with myself, the only positive that I would get from it was making money. It made me start thinking - what could I do where I could stay actively involved in it everyday and make a difference to people’s lives?
I realised the student community didn’t have a voice. We cared deeply about the issues of our time (from the Vietnam War to the war on drugs, we were always out protesting), but no one was producing material for us. And so the idea of Student Magazine was born. Thankfully, this went a lot better, and from that sprang Virgin Records. More than 50 years on, the Virgin Group has more than 40 companies and 60,000+ employees around the world. But if it wasn't for those first few failures, the future successes would never have happened.
You can listen to more stories from my life in my updated audiobook memoirs, Losing and Finding My Virginity: https://linktr.ee/bransonaudiobook