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
Our model is to develop each business separately with its own shareholder and management - this way we can concentrate on the job in hand, rather than be part of some enormous and faceless conglomerate.
Interpretation
What this quote means
This quote emphasizes the importance of individualized business management and avoiding the pitfalls of large conglomerates.
Richard Branson advocates for the approach of treating each business as an independent entity, which allows for focused attention and a tailored strategy. By avoiding the complexities and impersonal nature of large corporate structures, he believes that businesses can thrive and innovate more effectively, fostering a culture of accountability and responsibility among shareholders and management.
Themes
BusinessManagementConglomerateInnovationShareholder
In practice
Example use cases
In a business conference about entrepreneurship, this quote can inspire attendees to focus on their unique ventures.
More from Richard Branson
All quotes βIt's a common misconception that money is every entrepreneur's metric for success. It's not, and nor should it be.
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Some 80% of your life is spent working. You want to have fun at home; why shouldn't you have fun at work?
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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.
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Please donβt get hung up on this question of whether you need to have experience in an industry before you launch your startup.
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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.
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