Entrepreneur of the month – Richard Branson on Learning From Failure

Sir Richard Branson is a billionaire businessman that needs no introduction. You might have flown on one of his airplanes, boarded one of his trains, used his payment services or better yet, listened to evergreen songs from artists signed onto his music label, he is the man behind all of that. Sir Richard is the owner of the Virgin Group with over 100 companies worldwide, employing approximately 60,000 people in over 50 countries as stated on his company’s website. He went into business at the age of sixteen starting out with the publication of a student magazine before starting Virgin, first as a mail order record retailer in 1970 and then a chain of record stores, now known as Virgin Records. He went from there to build other successful businesses across major industries such as telecommunications, hotel, transportation etc.

Sir Richard Branson is a tireless adventurer. After many record breaking adventures, his next big plans is to offer suborbital flights into space to paying customers in the next few years as stated by space.com. This move he hopes will become one of the most important new industrial sectors of the 21st century as explained on the Virgin Blog. As a mentor to many across the globe, Sir Richard Branson shares one of his success secrets – learning from failure.

According to the billionaire businessman and philanthropist, many small business people fail but the most important thing is not to take failure too seriously and to simply learn from it. He said it was what the government designed limited companies for, which is to try and if it fails, it shouldn’t affect you personally as everyone is aware of the risk involved. He urged entrepreneurs never to be embarrassed by failure as long as they try everything they can to avoid it. Watch the 2 mins video clip below and feel free to like share or drop your comment in the section below. Happy new month!

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