Treat failure as a lesson on how not to approach achieving a goal, and then use that learning to improve your chances of success when you try again. Failure is only the end if you decide to stop.
Richard BransonRead
Don't hesitate to seek external help or advice where need be. Sometimes, it takes an external, emotionally unattached individual to detect your business flaws and render unbiased advice.
Interpretation
Seeking help from others can provide unbiased insights into your business challenges.
This quote emphasizes the importance of seeking external assistance or advice when running a business. Richard Branson highlights that an emotionally unattached perspective can often identify flaws that those deeply involved may overlook, leading to more effective solutions and improvements.
In practice
In a business meeting focused on strategic planning, you might quote this to encourage team members to seek external consultants.
Treat failure as a lesson on how not to approach achieving a goal, and then use that learning to improve your chances of success when you try again. Failure is only the end if you decide to stop.
It's a common misconception that money is every entrepreneur's metric for success. It's not, and nor should it be.
Some 80% of your life is spent working. You want to have fun at home; why shouldn't you have fun at work?
Values cannot be speedily forgotten if it is inconvenient or commercially expedient. Values have to have meaning and longevity; otherwise they are valueless. You cannot embrace innovation up to a point or only sometimes. Branding demands commitment; commitment to continual re-invention; striking cords with people to stir their emotions; and commitment to imagination. It is easy to be cynical about such things, much harder to be successful.
Please donβt get hung up on this question of whether you need to have experience in an industry before you launch your startup.
What's the most critical factor in any business decision you'll ever have to make? Basically, it boils down to this question: If this all crashes, will it bring the whole house tumbling down like a pack of cards? One business matra remains embedded in my brain - protect the downside.
When a company or an individual compromises one time, whether it's on price or principle, the next compromise is right around the corner.
Money goes out first to pay expenses and then comes back as profits later - if at all. The high rate of failure of new businesses makes painfully clear that there is nothing inevitable about the money coming back.
Treat your customers like they own you. Because they do.
The market and the consumer and idea trump the system.
What is good for our customers is also in the long run good for us.
Today's consumers are eager to become loyal fans of companies that respect purposeful capitalism. They are not opposed to companies making a profit; indeed, they may even be investors in these companies - but at the core, they want more empathic, enlightened corporations that seek a balance between profit and purpose.
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