by Andre Sanchez

“Good ideas come from people everywhere, not from the boardroom”, so says Richard Branson who carries his notebook around with him at all times to note down any ideas that he has or that others give him.  And, if there is one thing that Richard Branson is never short of, it is ideas.

Richard was born in 1950, and his first venture was at the age of sixteen when he set up a national magazine, ‘Student’, while at Stowe school.  A year later he established a Student Advisory Centre, the purpose of which was to help young students. It was his Virgin group, however, that brought him into prominence, and it first operated as a record mail order company from which he made enough to set up hid first retail record shop after renting an empty store in London’s Oxford Street.

The site of the store could not have been better, situated as it was in one of the premier shopping streets in Europe, and his signing of Mike Oldfield to record his first album, ‘Tubular ‘Bells, was a stroke of business genius from which he never looked back.  It has been said that it was ‘Tubular Bells’ that made Virgin records and made Richard Branson.  It sold five million copies under the Virgin Label.

His next tactical master stroke was the signing of the controversial Sex Pistols in 1977.  Up to then the Sex Pistols, one of the most outrageous punk bands, had been turned down by every major recording company in the UK.  It became one of the best known punk bands world wide, and made Virgin a fortune in its short existence.  These early successes marked Virgin records as the label to be on, and it signed many successful acts such as the Rolling Stones, Genesis, Belinda Carlisle, Peter Gabriel and Bryan Ferry. 

This success continued into the 1980s, by which time Richard Branson’s empire included hotels and films, in 1984 he decided to become involved in the airline industry.  Virgin Atlantic was a very risky venture, since there was strong competition in the UK for both standard and budget air travel.  At the start of the 1990s he began to feel the pressure, since Virgin Atlantic was still owned partially by the banks. The rising cost of fuel and a drop in the volume of transatlantic traffic due to the fear of terrorism forced him to sell Virgin records to keep the airline going.  It was purchased by Thorn-EMI for one billion dollars that allowed Branson to purchase his airline outright from his creditors.

He then decided to use the famous Virgin name as a licensing tool, and gained interests in other companies licensed to use it.  His Virgin Galactic, set up to provide affordable trips into space, is indicative of his type of business mentality, and his brand now covers mobile phones, bridal wear, cosmetics, vacations, balloon flights and soft drinks:  you name it, Branson’s Virgin is involved in it.  He has taken a brand name and applied it in ways that the experts said was impossible.  He calls it “Branded Venture Capital” and totally ignores accepted conventional wisdom. 

The energy with which Richard Branson approached building up his business empire reflects an adrenalin packed vitality that is reflected in his personal pursuits in hot air ballooning and powerboats.  However, the taking part was not enough; he had to break records and break records he did.  In 1986, his Virgin Atlantic Challenger II broke the record for the fastest ever crossing of the Atlantic by sea and the Virgin Atlantic Flyer became the first ever hot air balloon to cross the Atlantic, and in 1998 he flew from Morocco to Hawaii.

His unique approach to marketing was demonstrated in 1994, when he launched his Virgin Cola product by driving a tank up to the Coke sign in Times Square and fired a round signifying his challenge to Coca Cola.  In spite of this, however, only 10% of his business is in the USA and one wonders what he could achieve if he devoted his energies to marketing in this country.

Richard Branson is a unique individual whose energy belies his small physical stature. It is this energy that has enabled him to build the Virgin empire in spite of opposition to his unusual ideas.  British Airways tried hard to put his airline out of business, but failed.  No one believed that one brand could cover such a variety of different products and succeed.  He proved them all wrong.

Star Trek fan Branson lives in Oxfordshire and London with his second wife Joan and their two children, probably thinking on what he can do next.

Richard Branson: Game for Everything was originally published at http://www.businessmannow.com