Richard Branson lives on his own remote Caribbean island, isolated from mainstream city life.
Yet, he remains one of the world’s most admired entrepreneurs.
When asked to share his success secrets during an interview, he revealed key tips on how to be successful, which he’s used over the years to create and run 400 Virgin brand companies.
1. Be bold to a point.
In his younger days, Branson took many risks without giving much thought to the consequences.
Risk-taking has certainly paid off fabulously for him. However, looking back he realizes that there were times when risking it all meant being on the verge of losing everything he’d worked hard to achieve.
A much wiser Branson still believes strongly in taking risks, but he advises aspiring success seekers to take calculated risks. Never risk money you can’t afford to lose, food and clothing, a place to live, or your life for a shot at the unknown.
2. Become an expert of your passion.
Whatever it is you’re passionate about, learn everything you can about it to the point of becoming an expert.
Branson loves learning new things, and dives into new projects with gusto.
You are more likely to put a lot of time and effort into a project you truly enjoy, than something that quickly bores you.
3. Turn frustration into opportunity.
The issue that is nagging you to no end may prove to be the very thing that drives your success.
Many successful people have created thriving businesses after experiencing utter frustration over not having something turn out as expected.
Branson was frustrated when American Airlines bumped him off a flight to the British Virgin Islands. He was told to wait for a flight out the next day. Undaunted, Branson rented a private plane, jokingly promoted a cheap flight to the other bumped passengers, and was amazed when his plane completely filled up.
His frustration over the lousy treatment he received from a major airline led to the very first Virgin Airlines flight that same day. The rest is history.
4. Find ways to be innovative.
Look for things others miss and turn them into innovations that people love.
An example is Virgin’s popular flight safety videos, which are as entertaining as music videos put out by current artists. He tossed aside those stiff, boring pre-flight lectures in favor of Virgin’s innovative approach, which uses snappy music, actors and lively dancing.
Virgin’s safety videos are so entertaining that people enjoy watching them online.
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