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
The idea that business is strictly a numbers affair has always struck me as preposterous. For one thing, I've never been particularly good at numbers, but I think I've done a reasonable job with feelings. And I'm convinced that it is feelings - and feelings alone - that account for the success of the Virgin brand in all of its myriad forms.
Interpretation
Business success is driven by emotions and feelings rather than just numerical data.
In this quote, Richard Branson emphasizes the importance of emotional intelligence in business, arguing that success is not solely based on numerical performance but also on the feelings and connections that drive a brand. He suggests that understanding and valuing emotions can lead to better outcomes, highlighting that the Virgin brand flourished not just through numbers but through the feelings it evoked in people.
In practice
In a business seminar to highlight the importance of emotional connections in branding.
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 don’t 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.
Learn to sell. In business you’re always selling: to your prospects, investors and employees. To be the best salesperson put yourself in the shoes of the person to whom you’re selling. Don’t sell your product. Solve their problems.
Every single person in every single company is either in sales or affects sales. Every single person in every single company is either in service or affects service.
I see business as an ecosystem.
Conscious means "having an awareness of one's inner and outer worlds; mentally perceptive, awake, mindful." So "conscious business" might mean, engaging in an occupation, work, or trade in a mindful, awake fashion. This implies, of course, that many people do not do so. In my experience, that is often the case. So I would definitely be in favor of conscious business; or conscious anything, for that matter.
**New business concepts are always, always the product of lucky foresight.** That's right - the essential insight doesn't come out of any dirigiste planning process; it comes form some cocktail of happenstance, desire, curiosity, ambition and need. But at the end of the day, there has to be a degree of foresight -- a sense of where new riches lie. So radical innovation is always one part fortuity and one part clearheaded vision. [first-line bold by author] [2002] p.23
A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.
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