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
When I started Virgin from a basement flat in West London, I did not set _x000D_ out to build a business empire. I set out to create something I enjoyed _x000D_ that would pay the bills.
Interpretation
What this quote means
The quote highlights the importance of passion over profit in entrepreneurial endeavors.
Richard Branson reflects on his journey of starting Virgin in a modest setting, emphasizing that his initial motivation was not to build a vast business empire, but to create something enjoyable that would meet his financial needs. This perspective reveals how starting from passion can lead to unforeseen success.
Themes
EntrepreneurshipPassionSuccessBusinessEnjoyment
In practice
Example use cases
This quote could serve as motivation for aspiring entrepreneurs at a business seminar.
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.
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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 don’t 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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