I’m sitting here waiting for my flight to the US to depart and I’m flying with Richard Branson’s Virgin Atlantic. I’m thinking back a few decades to when it was I heard the name Virgin or Richard Branson for the first time.
I remember listening to him when he was asked why he started Virgin Atlantic and his answer was something like this: ‘I looked at this business and decided I could do it better and cheaper.’
While it was not just that simple, for instance he only serviced the most in demand routes like London to New York (another good business move), for me it shows the most basic, most powerful of all business models and his entrepreneurial spirit and motivation – ‘I can do that better and make money doing it!‘
He does not do what I have done all my business life, push the envelope with new technology. Far from it, he looks at mature business sectors and looks at how to improve the service/product, finds a niche (London-New York) and gets a foothold, makes it cash-flow positive and then builds on that success. AND he makes it look easy.
Only easy it is not, there have been numerous failures. Each failure helps him to be even better next time around.
Virgin, as a business group, is truly upper class when it comes to overall business model success. Look at it – Make it better – Maybe fail, then learn from it – Move on – Do it again.
Which business sector could you improve to become an Upper Class Virgin?