ENTREPRENEURSHIP

Richard Branson as an Entrepreneur

[Name of the Course]Richard Branson as an Entrepreneur

Brief Profile of the Entrepreneur

“Sir” Richard Branson is the most renowned entrepreneur of the United Kingdom, and he is the sole person behind the great success of “Virgin” as a brand in every business industry. Branson always believe in practical, and he is an excellent transformer of any idea into practical. He loves to take risks and challenges, thus; people call him an “Adventurer”. This trait of his personality reflects in his transatlantic speed boating and Hot air ballooning activity, with which he set up the world records of cross the Atlantic and Pacific Oceans in the least time. In his professional career, he established some gigantic organizations, which are working as among the greatest business units of the world

Sir Richard Branson got born in 1950 his family backdrop is quite wealthy, and his father was a barrister. He took his basic education from a leading private school of United Kingdom, at Stowe. Though he was never a brilliant student and had suffered during his foundation studies. But still his incompetence in education had never concerned his self confidence. His family supported him and raised him like an exotic breed. He got relatively good guides and mentors that led him on his very own way to success.

I read in an article that there is luck, and there is a Richard Branson's luck. One can never compare both in any case. Richard Branson launched his first business at the age of 16, when he left his foundation school. His first business got related to a student magazine publication, known as Connaught Publications. This business got situated in his own house, at Bayswater in which he publishes articles and interviews of different renowned personalities, including celebrities, sports stars and politicians etc. Initially it was a difficult task for a young boy to convince known personalities for interviews, but his confidence and courage brought success on his door steps. Furthermore, he also contracted a designer to work for him without any charges, and he also convinced “Peter Blake”, a well-known Cover page designer of mid 20th century, to design a cover page for his magazine. His magazine launch had made quite handful of money, through advertising and promotional places allocated in his magazine

Unfortunately, his magazine was unable to generated revenue in the long run. In 1970, Richard Branson started another venture, named as Virgin Records. He started selling records at a cheaper price to create market penetration, and his U.S.P. was to take order through e-mails and delivers it. This venture also got surrounded by some legal issues of audit and taxation, which once again forced him to quit this business. Though he failed twice but did not lose his enthusiasm to entrepreneurship. Thus, he decided to shift his focus towards retail sector. He convinced a shoe store owner, at Oxford Street - London, to rent him a section of the store, for free, and he would bring more customers on his ...