Learning from Richard Branson: Dare, Disrupt, and Triumph through Failures

Ever dreamed of living life on your own terms, fearlessly challenging the status quo, and creating your own path to success, just like Sir Richard Branson? Buckle up, Needle Movers, as we navigate through the life of one of the world's most daring and disruptive business tycoons. We're talking about a man who's mastered the art of being an engaged listener, a trait that has helped him build 400 successful companies across various sectors. Get ready to learn from Branson's playbook, as we dissect the principles he laid out in his book 'The Virgin Way'.

Failures? We all have them, but it's how we respond that defines our journey. Branson's life is no stranger to epic failures, and yet, he magnificently turned them into stepping stones towards success. From taking on Coca-Cola and losing, to daringly attempting a balloon circumnavigation of the globe, he's had his fair share of setbacks. But don't be fooled, it's his resilience, his ability to use these failures as learning opportunities, that has kept his entrepreneurial spirit burning bright. 

This podcast isn't just about business strategies and lessons learned, it's also a testament to Branson's unique approach towards work-life balance. The Virgin tycoon knows how to have fun and treat his staff like family, as evidenced by his legendary gatherings on Necker Island. We'll also explore how he's managed to attain tremendous success without losing sight of his values—an inspiring reminder that the journey matters as much as the destination. Join us in this enthralling discussion about one of the world's most successful entrepreneurs, because success isn't a destination—it's a journey.

Transcript

Speaker 1: 0:07

Hello Needle Movers, it's Valerio Tomasso, and if you've ever felt that traditional ways of working just don't vibe with your originations, ie the millennials, then today's episode is tailor made for you. Yeah, that's right.

Speaker 2: 0:18

Mark Jason's here, and together we're diving into the essence of one of the most iconic brands ever. Ever wondered how a tiny record shop I don't even know if people know it used to be a record shop could give birth to an empire spanning airlines to space travel? Stick around, because the Virgin Way by Richard Branson is more than just a book it's a revolution.

Speaker 1: 0:40

For a split second. I thought you were going to say I don't even know if you know where that record is and it depends on the listeners, right?

Speaker 2: 0:49

Stick with millennials. That's so true. God damn it.

Speaker 1: 0:52

Tower records, virgin records, yeah. And before we deep dive, here's the cliff hanger for you. But if I told you, then listening to rock music could teach you the secret of billionaire success. Intrigued, keep those headphones on. Or maybe keep your stereo on. Whatever, you're listening to us. Maybe you're in a car, but keep listening, mark. I've always been intrigued by Richard Branson's journey. As a matter of fact, it's probably one of the very first books that I read, and I remember recommending it to you all the way back then when I used to work at Rolls-Royce. And before we delve into the key takeaways from the Virgin Way, which is the book that we're looking into today, let's set the stage. Who is Richard Branson for our millennial listeners? Just tuning in?

Speaker 2: 1:37

today. So yeah, Richard, the man behind the brand, the founder of Virgin Group, which isn't just any business tycoon Also, I do remember reading the book. It's funny you say you're the one who recommended it to me, because I didn't know that.

Speaker 1: 1:51

It is me.

Speaker 2: 1:52

It is me, it is you. So, yeah, we should do Nike's one as well. But yeah, no. This guy, so from this, is a guy who, from a young age, showcased a spirit of rebellion. He kind of is associated with rebellion, in a way, and disruption and innovation. You can't put his name without thinking of innovation. He spans across 400 companies. The Virgin Group has touched everything from music to airlines, telecommunications and, if you've been paying attention, even space travel.

Speaker 1: 2:23

That's huge right, and it's not just about business. I've heard tales of his daredevil adventures too.

Speaker 2: 2:30

I swear he is kind of crazy, like he embodies the adage live life to the fullest from trying to fly around the world in a hot air balloon to kite surfing across the English Channel. And the thing is I'm so curious how high his insurance must be to do these things, because they don't even let actors or people do it. But him he's like yeah, I'm not only going to try this, I'll be the test subject as well. His life is like a blend of business and adventure. He's also known for attempting to cross the Atlantic Ocean in the fastest ever recorded time. Not just trying to do it, trying to do it the fastest. So whilst facing I think, there were storms and huge waves. It's a mixture of entrepreneurial spirit, but also there's clearly freel seeking. That sets him apart.

Speaker 1: 3:15

So I've read two or three of his books. One of them is called the Virgin Way, the other one is called Lucy, my virginity, I think. And then there is like another book as well, and I can't remember which one of the two or three is that I've read, but it starts off with his farewell letter that he is writing in the middle of one of his adventures, thinking that he's about to lose his life because of how badly his adventure is going. So he's really out there in terms of passion for what he does, but also living life to the fullest. As such exploits, they really resonate with our generation's desire for meaning, passion and adventure in what we do, and Branson surely exemplifies the blend of work and play that we all seek. So now, coming to the Virgin Way, what drove him to pen down his philosophy?

Speaker 2: 4:04

So, besides just being an adrenaline junkie, clearly if you're like, oh man, I might die, you know what I should do next Go to the moon. Beyond that, he's also a storyteller. That's why, of the books he's written, you've read free, like he's done a bunch. But specifically through the Virgin Way, he shares not just his business principles but also some life lessons, challenges and failures and ethos that shaped Virgin's culture. Overall, it's a window into his world, offering readers a blueprint on how to innovate, disrupt and succeed, as he put it, I guess the Virgin Way.

Speaker 1: 4:46

Alright, mike, let's talk about the first principle in the Virgin Way. Which is listening Now? On the surface it sounds pretty brusse, but in the Branson context, what does it all mean?

Speaker 2: 4:58

So listening, as Branson puts, it isn't just about hearing words, it's an art. Of course he'd say it's an art, it's about deeply understanding what's being communicated. It goes beyond. So, in the Virgin Way, he stresses the importance of being an engaged listener, especially for key leaders. So, in fact, he believes that leaders who don't listen will soon find themselves surrounded by people who have nothing to say, which, in some companies and cultures, is the hierarchical structure that is just implemented. And yeah, it doesn't bode, I guess. Continuous improvement, growth, or you know more than just what's the word? Followers, mindless followers.

Speaker 1: 5:37

And I don't know if you've come across this before maybe we've mentioned it before but people don't leave bad jobs, they leave bad managers. Thanks, and that always resonates with me. But what's interesting also is that he believes obviously the listening is a key skill, and the part that is really interesting is the fact that he actually had learning challenges growing up. He didn't do well as a school adult because it turns out that he was dyslexic, I believe, if I remember correctly, but there wasn't a word for dyslexia way back then, so people just thought that he was lazy. And it's interesting that he got around this challenge that he had around dyslexia, and he made listening one of his key skills. That actually brought him up in terms of the way that he engaged with others. So that's really profound. And didn't he have a particular experience at the music store that showcased all of this?

Speaker 2: 6:27

Yeah, absolutely so. Picture this If you go back to London in the 1970s, oxford Street is alive with a hum of activity In a modest music store amidst racks of vinyl records, which Val already pointed out. If you don't know what they are, imagine, oh God. I was about to say CDs, but I don't know if it will help.

Speaker 1: 6:45

It's just it's a big disc that used to be put on a. It's a big circle.

Speaker 2: 6:52

They've come back around, so maybe. But yeah, young Richard Branson is often found mingling with customers Instead of a distant owner. He's right there on the ground, ears open. He doesn't just sell records, he listens to what customers have to say about them. One thing as well is I fully I don't know if this shows on Rage, it doesn't matter I remember going into a store called Tower Records in Camden Town or something somewhere like that, and then it got taken over by Virgin and you're excited because it was like this big store.

Speaker 2: 7:19

But one aspect of this listening piece that kind of resonates is the fact that, if you think of what they're saying he did, he was on the ground, ear to the floor, listening to the customers directly. The more recent story of this, which I'm sure we've all heard, or at least we've heard a lot, is Airbnb. They weren't just there doing their rentals, they were going and finding out directly from their customers what is it they want, what is the benefits. And now they've exploded to a preferred option over hotels, at points really which wasn't even an option at all. How sharing, if you put it like that, doesn't sell, but the way they managed to take that and drive it full difference in the thing.

Speaker 1: 8:00

And just on that point, what Airbnb did, as well as what Branson did way back then, wasn't just about getting the feedback on the music or, in the Airbnb case, listening to what the customers wanted, was it?

Speaker 2: 8:14

No, no, no, it was deeper. By listening, branson was able to tap into the emerging trends, discovering what music genres were about to take off, which is kind of key for your own record store or any type of music service. So this active engagement allowed Verge Records to stay ahead of the curve, identifying and promoting artists that would soon become like mega stars. His practice of listening on the shop floor was a precursor to the business acumen that would define the Virgin brand and, funnily enough, we can fast forward from the 1970s to like 2023, and you think of what does Spotify and Apple Music and SoundCloud and Bandcamp and all these things do? They've taken what he was doing like manually and tried to embody it into their algorithms, their software, to try and promote what is new and upcoming, but he was doing it before these even existed, to try and build up that same well, following that same understanding and appreciation of his service.

Speaker 1: 9:10

Yeah, I like big data because they basically take simple concepts and they kind of like expand them to such a huge level using data points from Facebook, instagram, etc. And they really tried to get results because of that, which is brilliant. But it just kind of shows that, you know, a simple art of listening shaped an entire empire, and it's a statement to how fundamental principles can lead to groundbreaking results From active listening. Branson's the Virgin Way segues into another pivotal principle learning from failures. Now, that's a theme that resonates with many of us, including us, mark. Yeah, yeah of course.

Speaker 2: 9:52

So Branson's perspective on failure is enlightening. Instead of viewing setbacks as disasters, like most people do, he kind of considers them essential stepping stones to success, which a select few people do, I'd say. He emphasizes that the fear of failure can often hold people back, stifling innovation and risk taking and aren't I too familiar with that when it's like you need to be somewhat comfortable and thus you hold yourself back really.

Speaker 1: 10:20

If your second name could be failure, it would be well fitting.

Speaker 2: 10:24

Just fine, let's talk about my thing.

Speaker 1: 10:28

But, jokes aside, he is well known for failures in many different aspects and he has to make extraordinary failures that really people still remember today in some way. So I guess, segueing from that, do you remember, like, what are some of the best videos that he had in his 90s?

Speaker 2: 10:50

I know there was the attempt to like circumnavigate the globe in a. I think I mentioned it right in a balloon during the 1990s, so he had this extreme let's say sky, high ambition.

Speaker 2: 11:03

The challenge was insane. It was like trying to do some David Blaine thing. So there was technical malfunctions to unpredictable weather patterns. Him and his team faced a series of setbacks the whole way. At one point they were floating over Algeria with fueled windling. I'm not sure if they even clear the expanse of the Pacific. So I know that's just one of them and this is prior, I'm guessing, to him writing that letter, or maybe during it. Maybe that boy is like maybe I should figure out my life.

Speaker 1: 11:33

So I don't know if you remember this one. He tried to take on Coca-Cola. I remember this and there was this huge advertisement that he did where he had a truck driving into a wall of Coca-Cola cans and he basically then had like a virgin cola come out. And I remember virgin cola right. I remember this virgin cola being sold in supermarkets I think it was in Italy back then, but that's how young I was and he flopped, he just flopped.

Speaker 2: 12:04

I wonder if he was going to go on for KFC if he'd won that one. It's like all of them could get it. He's the type he would do as well.

Speaker 1: 12:10

What would he call that Virgin fried?

Speaker 2: 12:12

chicken. Of course, everything's virgin. Okay, here's my theory. Right? He was a virgin for a lot of his life, and thus he really identified with it. He's like the Batman of our generation, except with bats.

Speaker 1: 12:25

he chose virginity and thus it makes the most sense to me. I mean, if I'm not wrong, the meaning behind the name is something around the lines of it was basically like a group of people, or it was. They aspire to be new at what they were doing. So because of that, they were virgins to it, and I think that's the meaning behind it. But I like how he's a transpired it or everything else, yeah.

Speaker 2: 12:53

Well, he was just a virgin and he found the bigger meaning behind it. That's what I'm sticking with. That's not in the book. Please don't quote me on this.

Speaker 1: 13:00

This is my fear and my conspiracy, but all his failures, like the Coca-Cola track. Taking on such a huge company is circumnavigating the globe in a hot-air balloon. It all sounds very harrowing, yet he persisted and I think that's what really sticks out.

Speaker 2: 13:21

Yeah for sure. Even though the mission did not ultimately lead to success in terms of like global circumnavigation, it was still a victory in resilience and drawing lessons from adversities. Of course, great things for a book, you'd say. So he used this experience, and many others like it, to reinforce his message Failures aren't the end. They're rich learning opportunities, and they're also a good way to change your mindset, to use them like he does, as like footstools to lift himself up.

Speaker 1: 13:53

Yeah, and I think the key message here is that there's probably plenty of other people that said it. But it's not about the stumble but how we rise after the fall. And Branson's journey truly embodies the spirit. And it's really easy to just look at Branson and be like, oh you know, the guy did well with one business which was like it's not even the record business, by the way that did well. That wasn't even his first venture. His first venture was when he decided to quit school and start a magazine and he started hiring people from his school to deliver this magazine all around I think it was like around London or wherever it was. And then from that success it then moved on to the Virgin Records and everything else that he did. But it's really easy to just look at some of the biggest successes and just look at the failures and be like, oh yeah, yeah, he failed, but he had plenty of money to get back on. But that's not the point. He still failed. He was still putting the skin in the game.

Speaker 2: 14:46

And I think as well, it's very easy for, like, take one of his failures and that someone else's whole life, you know, just taken as my life's a failure, if they look at it with a different lens. Right, his failures are massive successes to us in some aspects, but it's just about the perspective of he takes them in like a better words on the chin, like okay, that happened, so I wanted to circumvent the globe. I didn't do that, but I got so many lessons from the adversities and my whole value system, my whole system, is focused on the fact that that is the way I can continue learning, basically, which just puts the value in learning.

Speaker 1: 15:27

Yeah, so sorry what. One of the key differences is that, unlike most people, instead of doing something or launching a venture or doing something crazy let's call it because there is potential money or there is a potential gain in it, he does it more out of curiosity, it seems, and it's the problem is that curiosity that allows him to be more flexible but also to realize that, okay, I hate the wall and I either got an option to quit or an option to carry on, and he's able to almost have that perspective that that gives him the run, the fee, the run, the vision where he can say, okay, actually, you know what, like in the Virgin Collar example, I'm just going to cut my losses and realize that this was a bad idea and just move on with the, with the next thing. But it's, I think, this, that curiosity element that allows him to to be flexible and allows him to be successful in some ways and also capable of cutting his losses short in the places where they don't work. Really.

Speaker 2: 16:26

And I think just one thing to add on to that is that in a number, if not all, of the big success since we see would be at people or companies, they are made in failures that we probably either downplay or ignore or aren't aware of. That get them to that point where they just look like a massive success in this, like no, and I guess for a case for case basis. If you scale it right down to get the jobs that people currently have now, they probably got a number of rejections which fall to a distant memory once you're already in the role that you're in or the one that you're happy with or whichever. But there's, like so many steps that are overshadowed by your successes, but it's, they're all very relevant to how you become like to the point you are now.

Speaker 1: 17:14

I'll never forget when we were sitting in I think it was final year of uni we were sitting in the library and I think it was like one of those small conference room we're doing a bit of revision I had spent a good part of like the previous four or five days putting together like a super long application letter for this company called Arab and suddenly, like I received the email saying we thank you for your time in applying for Arab but unfortunately, you know, been successful. Across my laptop, I'm looking like I was like Mark. Fuck this, I'm going back to Rolls Royce.

Speaker 2: 17:49

And you did. You said screw it, don't talk. You should have said that to Rolls Royce on your first day. Why am I here, you asked. Well, you have a full back option. Oh my gosh, that's part of his lessons, right? Have a safety net, basically have a safety net.

Speaker 1: 18:07

But to some extent, you know, my safety net was a huge company. That would have been the first choice for a lot of other people but I was holding myself to like an entirely different standard that went to different things and for me that became the full back option. But yeah, I forgot why I said that story, but at the time there was some relevance.

Speaker 2: 18:25

There is relevance there, man. That was a failure that led to you now right, True, true, true.

Speaker 1: 18:32

Yes, that was what it meant with that story. If you say so. Now, after understanding the importance of listening and embracing failure, branson brings us to another corner store in the Virgin Way, having fun and taking care of your team, mark. This feels so crucial in today's age, especially for our millennial listeners, especially considering what I said earlier, that people don't leave bad jobs by the leave bad managers 100%.

Speaker 2: 19:07

You actually beat me too. I was going to say exactly that. The fact that you'd already mentioned you leave bad managers If you're not having fun, if you're not enjoying it. I know that there are some people who are pushed by oh, I just need to make money from my family and get my day job and that's all fine, until someone starts fucking with you and then you're like I need to get out of this. This is so frustrating.

Speaker 2: 19:25

And Branson believes that enjoyment isn't just an added bonus at work. Basically, it's a fundamental right, which is wild to hear. Like that doesn't? I worked in a place called enjoy work and still I'm like that's kind of crazy that they really want you to enjoy it. Like enjoy your time. The Virgin brand spirit has always been about fun and positivity. Branson stresses that employees who enjoy their work are more productive, creative and committed, which, if you think about it, makes total sense, which is why you're like why are some people actively dicks? What do you want from me? Like you're prioritizing just. Maybe that's how they enjoy their work, or they want misery, loves company or something like that. But the difference is stark and it's just like what's the point in some sense.

Speaker 1: 20:11

Yeah, they are like professional dicks, as you mentioned.

Speaker 1: 20:14

I've had quite a few along my journey, but this kind of like stands out for two reasons.

Speaker 1: 20:22

I'm going to take one and then you know, like, if anything that you remember comes up for you, then you can also add the then, at the very, at the very start of Sir Richard Branson's let's call it like career in a way, but it's not really a career entrepreneurship.

Speaker 1: 20:37

One of the things that he did is that he bought a fairly large house and in buying this fairly large house, it wasn't just a fairly large house for his family and himself to enjoy, but he actually used it as a platform for him to have discussions, invite, you know, different bands to his house, have, like some of those crossing deals, have late night discussions and conversations. But he almost managed you to marry the two elements of of work, as well as his passion and his family, all together in one place, because you know, he didn't have to have the commute time to get to, to and from places and he could spend more time, maybe have the bath time with his kids, etc. Etc. But I found that a very interesting how he managed you to meet the various conflicting elements of the obvious life all into one to try and and limit some of the downsides.

Speaker 2: 21:30

It makes me think of the practices that were like spearheaded by people who were considered eccentric and different, like Richard Branson, which became like almost commonplace or became like the pathway or target way for budding entrepreneurs who want is something different. You know, there's I think we've even done this, address it in the plus 1% where, when you try not to conform, you end up falling into it's the hipster effect, into a line with a different Like. You all blend into the same. But this is someone who, like, paved his own path. By doing that, in a way, he he showcased hey, you don't have to be, as let's say, strict, formal. You can have passions that are your work and you can enjoy it.

Speaker 2: 22:09

Whereas I think, if we think back to how Corporate looked because that is, if you think virgins too big not to be corporate, it's, it's goddamn corporate. But, um, you think cubicles, you think black and white, you think suits, you think you know what I mean there's a certain mentality that you can associate with it and you might not do that as much now, but it's due to people like this break in the path and saying hey, you can still be successful, you can still get the most out of people, you can still be productive, you can still be a billion dollar company and People who are allowed to enjoy it and find themselves and still have a voice and a personality within it.

Speaker 1: 22:47

Hmm, and if I'm wrong, right, there is Another legendary tale about Branson, something about party in an island.

Speaker 2: 22:56

Oh, I think that's um Neckler Island, necker Island, I think it is. In the 1980s he bought this. I think it was a beautiful piece of paradise in British Virgin Islands. I'm remembering now so well. Many would have you seen it merely, as you know, a luxury retreat, his he envisioned it differently, so his whole mindset was it's a place of rejuvenation and connection. He'd host gatherings inviting both employees and fort leaders, fostering a whole environment of just relaxation and creative brainstorming, which now you think about, that's literally what retreats became. That's the mighty nades before it. But it was that first getaway of actually this. But he bought the whole island. People Just usually rent the space me like, hey, let's go here. You bought an entire island based on that principle.

Speaker 1: 23:43

So the first thing that comes to mind is do you think the British Virgin Islands were called that before or after he bought them?

Speaker 2: 23:49

after he took their Virginia.

Speaker 1: 23:52

Hanging fruit and and, and I think the second, I guess, observation is that what's great is that he wasn't just a place for lavish parties and exotic getaway, was it now?

Speaker 2: 24:01

I feel like those were included, but far from it. Wasn't just that. These gatherings on Necker Island were a testament to his belief in taking care of his team. So in this let's call it serene environment, away from all the hustle of city life, ideas flowed and the collaborations were born and bonds were strengthened. Oh my god, this is directly reminding me of a book that I think you suggested to me, where they went on a retreat. I'm gonna have to figure it out or we'll do an episode on it and you'll find out in later episodes which book I'm talking about. It's a very interesting book. They go away on a retreat and exactly like this, there's like bonds that were strengthened, and it showcased Branson's commitment to work life harmony and the importance he placed on team well-being, which is super key.

Speaker 1: 24:47

I saw us to say that like, oh I, you remind me of this book. I was like are you talking about Lord of the Flies, jesus Christ?

Speaker 2: 24:53

That's, that's, that's just your diary. Why'd you eat that guy and think he was a pig man?

Speaker 1: 25:00

Oh, just remember, like reading it from school I had like this flashback.

Speaker 2: 25:06

Your life is a hard. Hard life lived is what I'll say.

Speaker 1: 25:10

Anyway, as it says, it's an island of innovation, relaxation and connection, and what a powerful symbol of Branson's ethos, in a way. Truly, the Virgin Way is not just a leadership guide, it's also a lifestyle manual, something that you can take as an inspiration point, especially if you are looking to embark into the entrepreneurial journey. It's not all about serious, it's not all about being this corporate image. It's actually about personality and it's about adding the flair that you bring to life into your entrepreneurial journey.

Speaker 2: 25:43

Yeah, and, jokes aside, it's a very, very interesting book. We only mentioned books here that we would recommend reading. If we don't recommend it, we'd literally say it. But honestly, it's a nice way to take a step back and think, actually, how did this person, who has become just a normal statement piece in everyone's lives, like how do you not know a virgin?

Speaker 2: 26:04

Like even yeah, it's on a scale beyond thinking, and how he got there and the principles he's used to get there, which I'd say can somewhat deviate from where you think would be the strict route, that just shows you how unparalleled or how there are so many avenues to reach your version of fulfillment, your version of passion and your version of like success. And with his, he's clearly a risk taker, he's clearly someone who likes adrenaline, but he doesn't prioritize that over people and he still focuses on listening. He still focuses on making sure his team are having fun and enjoying. And, yeah, I feel like it should be a reminder to everyone that you don't, you shouldn't, have to compromise your good values and habits to try and succeed. If you find yourself doing that, maybe you can second guess and consider, hey, maybe this ain't where I need to go. There are routes and companies that exist that help you like find a better solution that still lets you remain who you are at your core, which should hopefully be someone good.

Speaker 1: 27:06

True, and as Branson himself says, opportunities are like buses there's always another one coming. So, for all our listeners out there, keep pushing, keep learning and embrace the journey of your own overnight success. And until next time, adios.