Treat failure as a lesson on how not to approach achieving a goal, and then use that learning to improve your chances of success when you try again. Failure is only the end if you decide to stop.
Richard BransonRead
Please don’t get hung up on this question of whether you need to have experience in an industry before you launch your startup.
Interpretation
What this quote means
Experience is not a prerequisite for launching a startup; take the leap and learn as you go.
Richard Branson emphasizes that potential entrepreneurs should not be deterred by a lack of experience in their chosen industry when considering launching a startup. He suggests that passion, creativity, and a willingness to learn are often more important than prior experience, encouraging individuals to take risks and pursue their entrepreneurial dreams.
Themes
StartupEntrepreneurshipExperienceMotivationRisk
In practice
Example use cases
In a business seminar to inspire young entrepreneurs.
More from Richard Branson
All quotes →It's a common misconception that money is every entrepreneur's metric for success. It's not, and nor should it be.
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Some 80% of your life is spent working. You want to have fun at home; why shouldn't you have fun at work?
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Values cannot be speedily forgotten if it is inconvenient or commercially expedient. Values have to have meaning and longevity; otherwise they are valueless. You cannot embrace innovation up to a point or only sometimes. Branding demands commitment; commitment to continual re-invention; striking cords with people to stir their emotions; and commitment to imagination. It is easy to be cynical about such things, much harder to be successful.
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What's the most critical factor in any business decision you'll ever have to make? Basically, it boils down to this question: If this all crashes, will it bring the whole house tumbling down like a pack of cards? One business matra remains embedded in my brain - protect the downside.
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Always think, 'what's the worst that can happen' and have some kind of strategy to deal with it
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