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
Every successful businessman will have experienced set-backs and failures - they're lying if they say they haven't. Virgin has had some tremendously successful businesses and some that have not quite worked out. Virgin Cola springs to mind - the product wasn't distinct enough from Coca-Cola.
Interpretation
What this quote means
Success is often accompanied by failures and setbacks, which are integral parts of the journey.
This quote by Richard Branson highlights that every successful entrepreneur has faced challenges and failures in their business ventures. The acknowledgment of setbacks is crucial, as it demonstrates that success is not a straight path, but rather a journey filled with learning experiences. Branson uses the example of Virgin Cola to illustrate that despite some successful endeavors, not every idea will succeed, emphasizing the importance of resilience in business.
Themes
SuccessFailureSetbacksBusinessResilience
In practice
Example use cases
In a motivational talk about entrepreneurship, one might say, 'Remember what Richard Branson said: every successful businessman has faced failures.'
More from Richard Branson
All quotes →It's a common misconception that money is every entrepreneur's metric for success. It's not, and nor should it be.
Richard BransonRead
Some 80% of your life is spent working. You want to have fun at home; why shouldn't you have fun at work?
Richard BransonRead
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.
Richard BransonRead
Please don’t get hung up on this question of whether you need to have experience in an industry before you launch your startup.
Richard BransonRead
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.
Richard BransonRead
Similar quotes
Before dreaming about the future or marking plans, you need to articulate what you already have going for you - as entrepreneurs do.
Reid HoffmanRead
I almost hate to say how proud I am of my career and, most of all, helping folks get the returns they deserve.
John C. BogleRead
I'm at the point where you look back on your life and reflect. I've always been an unbelievable critic of me. If we lost a game, I blamed myself every night. I'm very proud of some of the things I did as an athlete, as an executive.
Jerry WestRead
Someone is out there looking to put you out of business. Someone is out there who thinks they have a better idea than you have. A better solution than you have. A better or more efficient product than you have.
Mark CubanRead
Look at guys like Larry Bird and George Brett and John McEnroe; that's what they did in their careers. They all wanted to be the guy under the microscope late in the game or late in the match. So you just take on that know-how that that's part of your responsibility, and you learn that's what makes it exciting. That's what makes it fun!
Wayne GretzkyRead
Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don't quit.
Conrad HiltonRead