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The phenomenal success of Sir Richard Branson can only be described as meteoric. From humble beginnings as a high school drop out, the young Branson followed his passion. His love of music led him into mail order music. He sold vinyl albums through written classified advertising.
The success of this simple business model as an entrepreneur, he inevitably realized that owning his own production label was where the money was and Virgin records was born. He produced many artists including the classic haunting smash hit by Mike Oldfield called Tubular Bells. Of course beyond this he went on to buy his own damn airline!
Branson as an entrepreneur is a fascinating case study. This article is more about his framework and business moves than about the man himself. Branson has the uncanny nack of empathizing with a target audience. If you were to ask Branson himself I am sure he would have to admit there is where he expels most of his entrepreneurial concentration. His ability to put himself in the shoes of an entire demographic and “see” what they would want most is the secret weapon in this juggernauts arsenal.
My own observation is that Branson learned this skill very early. His first business success was direct marketing. (his record business) Direct marketing is a very scientific business model in that you create advertising and closely monitor your audiences reaction then adjust your advertising and hone it to higher and higher levels of response.
This approach of Bransons held him in good stead through-out his entire business career. He learned that valuable lesson of business empathy very early in his entrepreneurial career and has applied it to everything he has done since. There is a lot fledgling entrepreneurs can learn from studying Branson, but the one big lesson to be taken from his career is business empathy and understanding the lowest common denominator needs of an entire market demographic.
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Source by Terry Hart
