I read Richard Branson’s new book Business Stripped Bare
over the weekend. My family (all women) went to a women’s retreat so I was all alone this weekend. Except for a friend Ed who came over to watch the last James Bond movie, can’t wait for the new one to come out. So I had a lot of time to read Business Stripped Bare.
First off, excellent book, really excellent. What I love about the book is that the stories are positive and negative and from someone that actually goes business. It’s amazing how many business books are written by authors, professional authors who do not run a business. It’s hard to take any advice from someone that has never run a business. Richard Branson talks about that in the beginning of his book. He sees the business books in the airport newstands and find most of them are rubbish. I’ve noticed that too. So a book from an actually entrepreneur is refreshing. And Richard Branson I believe is the ultimate entrepreneur.
I learned a lot from his stories of his failures. How many times do people write about their failures? Not much if at all. So Richard’s stories about “Northern Rock” bank in the UK and his unsuccessful bid to buy it was enlightening. You can learn so much from failure but people don’t want to admit their have ever failed. I have in the past and it has been so helpful. Strange but so true.
One of the big points that is sticking with me from the book is what Richard thinks should be written into every business plan. It’s so important that it should be required by all businesses. I know when I started reading that I was thinking “Wow, I wonder what is so important?” And then he says celebrating your wins. And proceeds to tell a story about the launch of Virgin Direct a UK insurance company. Richard shows up at the office and see everyone working making sure the launch goes smoothly. He gets up on the nearest desk with champagne and pops it open yelling and celebrating and getting everyone in the party mood. Of course he proceeds to short out four of the computers in the process but he gets the celebration started. The launch parties are so important as it gives the team a chance to stop and see what they have accomplished. They get recognitionfor their good work. They also get to see The Richard Branson. When the big guy is partying with you, you are bound to feel good about the company you work for. Nobody wants a grumpy boss. And Richard Branson is definitely not grumpy.
I got a big kick out of that idea that I will implement on my next launch.
His definition of success I think is wonderful and I’m going to end on that.
I think that the more you’re actively and practically engaged, the more successful you will feel. Actually, that might even be my definition of success. Right now, I find myself doing more and more to safeguard our future on this planet. Does that make me successful? It certainly makes me happy
…
Success for me is whether you have created something that you can be really proud of. Profits are necessary to invest in the next project - and pay the bills, repay investors and reward all the hard work - but that’s all. Nobody should be remembered for how much money they have made in life. Whether you die with a billion dollars in your bank account or $20 under your pillow is actually not that interesting. That’s not what you’re achieved in life. What matters is whether you’re created something special - and whether you’ve made a real difference to other people’s lives.
My friend Craig Perrine had an excellent post yesterday about the economic non end of the world. Nice quote here.
It’s the circle of economic life my friend, not a crisis or the end of the US as we know it (contrary to what all the uber ninnies on the news are telling us).
As you’ll see, the real question is: How do you put yourself in a position of strength to thrive in up and down times?
I have another friend that has made more money in the last two weeks than the last two years. It’s all about changing your tactics depending on opportunity.
Richard Branson in his new book states that entrepreneurs must adapt. Some tactics may not work for ever. Adapt, adapt, adapt. I just got Richard Branson’s new book today. Looking forward to reading it. Plus I got the Virgin Messenger bag I won. Nice.
Read the rest of Craig’s great blog post at The Maverick Marketer Blog.
I love this quote.
There are many ways to run a successful company. What works once may never work again. What everyone tells you never to do may just work, once. There are no rules. You don’t learn to walk by following rules. You learn by doing, and by falling over, and it’s because you fall over that you learn to save yourself from falling over. It’s the greatest thrill in the world and it runs away screaming at the first sight of bullet points….So all I can do for you now is map the territory I’ve seen. The good news is, I’ve covered a lot of territory.
Leading Blog: A Leadership Blog @ LeadershipNow: Richard Branson: There Is No Reverse Gear On This Thing
Here is an article that was adapted from Richard Branson’s new book Business Stripped Bare. I pre-ordered the book yesterday. Here is an excerpt and the link to the full article is at the bottom. Enjoy, he makes some very good points and it is very timely.
I learned never do anything that means you can’t sleep at night.
That incident was, as I’ve said, the biggest mistake in my life. But it’s through mistakes that we learn. One thing is certain in business. You and everyone around you will make mistakes. When you are pushing the boundaries, this is inevitable.
Even when things are running well, there is always the prospect of a new reality around the corner - as bankers around the world have been discovering to their horror. Suddenly, all the good decisions you made last week are doing you untold damage. Where on earth did you go wrong?
My philosophy has always been to face the facts, however unpalatable they might be. Failure usually occurs when leaders avoid the reality of business.
In business, as in life, there will always be external risk factors that are beyond your control. Oil prices triple. Hurricanes level entire cities. Currency fluctuations leave behind trails of bankruptcies. But you can take measures to mitigate and manage business risks.
Then, if disaster strikes, at least your attention won’t be split every which way by other worries.
In defence of capitalism: Richard Branson argues that free markets enrich us all and gives his tips on how YOU can be a success | Mail Online.
Richard Branson now has an official website and blog. Just in time to promote his new book "Business Stripped Bare".
Whether you are starting out in business or running the biggest multinational in the universe, there are some common themes that can be applied. There is a plethora of business books out there on the shelves. I see them in the airports and some look rather tedious and dreary. To be perfectly honest, I seldom read any of them. Life is too short to read tomes written by passive observers. Business is about taking action.
I’ve stripped Virgin’s businesses bare. Rather than banging on about how successful they are, I’ve written about what my companies are actually about. What were our intentions? How well, or how badly, did we realise our early hopes? I’ve gone through my notebooks and diaries, hunting for common themes and ideas, and I’ve divided what I’ve found into seven sections. I’ll be looking at:
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People
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The brand
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Why delivery is vital
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What we learn from our mistakes and setbacks
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Innovation as a driver for business
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The value of entrepreneurship and leadership
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The wider responsibility of business
I just ordered the book. Looking forward to it.
Richard Branson ~ Business Stripped Bare | Richard Branson’s Official Website & Blog.
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