Richard Branson – It never works out like you think it will

it never works out like you think it
well if you look at any famous
entrepreneur you look at how they got
started and where they came from to what
they end up building their plan always
changes over time and that’s okay one of
my favorite stories is of Richard
Branson the founder of Virgin
multi-billionaire his first company was
a magazine a newspaper called student he
was trying to make a go of it and it
wasn’t working and and even though he
brought on great writers and had amazing
content it just wasn’t ever turning a
profit and so he wondered maybe I can
achieve my same goal to inspire people
and help them you know change the world
through music and he started virgin
which was a record label at the time and
he started it because the name virgin
came because nobody in his company had
ever started the business before there
are all virgins in business and that’s
where the name kick came from and he
started advertising his record company
in his newspaper and the record company
started taking off it started becoming
highly profitable and that’s what helped
eventually make him a billionaire well
the newspaper ended up shutting down and
so your plan will always change over
time and that’s okay this is a mistake
it almost sunk my first business when I
had my software company I was 19 years
old now it was convinced that there was
this company that was gonna buy us I
said it makes total sense this is what
Nina she’s going this company’s a
number-one player in the industry
they’re gonna want to buy us there’s so
many synergies between what we can do
together and I spent an entire summer
working on proposal planning it out you
know getting all the details perfect
just right and it turns out when we
actually spoke to them they didn’t care
they didn’t care so much and I spent all
that time planning and it didn’t work
out we then quickly realized that one of
their competitors a number four player
in the industry was interested but we
weren’t ready to go out and close that
deal because we spend so much time
working on this first company
we still ended up making it far it was
between us and our biggest competitor
which was a international company that
was publicly listed and we lost to them
and that deal was 40 million dollars
I lost a 40 million dollar deal you know
when I was 19 20 21 years old in that
area forty million dollar deal I lost
because I was too busy planning down the
wrong path
and planning definitely has a purpose
okay you’re not just running off in some
crazy direction and taking action but
you can’t just plan it you can’t just be
out there writing things down you’ve got
to actually go and talk to people and
put your plan in motion and realize that
your plan is gonna change your plan will
change just like Richard Branson’s
planned change just like my plan change
just like every famous entrepreneur you
could think of their plan changed and
that’s okay so don’t be so worried about
making the perfect plan before you get
started because that perfect plan
doesn’t exist it’s gonna change as soon
as you start running but don’t let that
be or hold you back from starting
because you could be sitting at your job
writing the perfect business plan only
to see somebody else make millions up
for your idea because you didn’t have
the courage to take action on it believe
for those of you watching like the video
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action on your plan leave it in the
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so much I’ll see you soon