Richard Branson on turning an idea into a business
Entrepreneur and business guru shares some of his ideas
Regardless of how new you are to the process of starting a business, feeling lost or overwhelmed is understandable and for many people, simply part of the process. A degree in business doesn’t always include training in the practical skills an entrepreneur needs to start a company, and even when it does, actually applying what you’ve learned can be daunting. Once you’ve graduated, you may find that you need to keep topping up your skills with online courses, mentoring programs and - most importantly - real-world experience.
The good news is that a great business starts with a great idea, so you’re already well on your way.
The first step: Before you start doing anything practical, settle into a place you find relaxing - I regularly work from my hammock at my home on Necker Island - and envision the company that you can create based on your best idea. It should be a company that you can believe in, heart, soul and wallet.
Are you enthusiastic about how this business will make a difference in people’s lives? This is crucial, because if you love your work, you are far more likely to persevere despite the long hours and struggles that are an inevitable part of an entrepreneur’s life - and your successes and celebrations will be all the sweeter.
You mentioned elsewhere in your note to me that your minor is in the recording arts, so I presume that you have a passion for music. Have you spotted a gap in that sector? Having started my career in the record industry 40 years ago, I can tell you that it’s a fun ride. With the explosion of music services on the Web, there are sure to be new opportunities.