Sunday, December 1, 2013
Richard Branson's Discussion of Optimum Persistence
Richard Branson has valuable advice for an entrepreneur about when to persist with his start-up and when to move on. It is always a tough call, but Branson asks the struggling entrepreneur several good questions to consider.
Branson says: "If you’re feeling disheartened because larger competitors have saturated the market with their products, well, that’s exactly what they were hoping for. Remember that once upon a time, there were lots of airline executives and industry experts who thought they understood the market and that a new entrant like Virgin Atlantic, which was run by a company with a background in music, wouldn’t be able to keep up. Yet it was our fresh perspective and unique take on travel that brought about our success, and Virgin now has three thriving airlines, while many of our former competitors have gone out of business."