Richard Branson His Life and Business Lessons by J.D. Rockefeller

Author:J.D. Rockefeller
Language: eng
Format: epub
Tags: business advice, richard branson, advice about career
Publisher: J.D. Rockefeller

Chapter 4: Handling Failure and Criticism

Life as a businessman isn’t just plain sailing, and nobody knows this better than Richard Branson. Luckily, he is the type of person who always shares his tips for handling failure and criticism. For Branson, his approach has always been treating obstacles as opportunities and striving to meet the challenges ahead. Even the failure itself can be an opportunity. If it isn’t a dead end, it is just a hurdle to overcome. Nearly all entrepreneurs endure failures in business somewhere along the way. Branson has failed time and time again, and there’s literally no way to list them all, yet with these failures, comes success, and he now enjoys the success he’s always dreamed of.

How to Handle Failure and Criticism in Richard Branson Way

Entrepreneurs must learn to embrace failures with open arms. But, not all know how to do that. This is why many end up seeing little to no results.

According to Branson, whenever you are facing an obstacle, it is best to deal with this through breaking it down into small components. Then start asking yourself about what you can do can affect each one. Of course, there will be things that you cannot change. When he was young, he was confronted with one of the largest obstacles of his life, and that is that he could not follow lessons very well in school. His teachers thought he was lazy, and it wasn’t until years later that he was diagnosed with dyslexia; a learning disability. But instead of giving up, he stopped wasting his energy and time trying to fit in and began to accomplish things the right way, by solving his problems one at a time, with a head on approach.

Due to his learning disability, reading was a severe challenge, he would talk over the teacher during her lessons with his classmates. This constant need he felt to be disruptive, eventually taught him to approach problems in a more creative manner, yet these obstacles only continued when Branson got into business school. After he and his friends had launched Virgin, it was not so smooth sailing, particularly when they entered into new industries. For him, learning while working has been a defining characteristic for the experience of the entire team. From the Virgin Hotels to Virgin Records; each day has brought a different challenge, which taught them another beneficial lesson.

Perhaps the most difficult obstacles were when Virgin got into the airline industry. When Virgin Atlantic started, the airline only had a single hanger, and was clearly an underdog in their latest venture. Branson and his shareholders faced some issues with logistical problems, banks, and larger competitors who had more money. Anyone else would have felt doomed, yet Richard was persistent.

Branson, together with the people behind his company learned to combat the big budgets of their competitors with hard marketing. They also learned that instead of remaining silent, they needed to stay in the public’s eye, and speak clearly over their critics when the company encountered hardships.

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