Entrepreneurship from Sir Richard Branson

Every generation needs a revolution - an entrepreneurial revolution

He is an Englishman and knighted for his business contribution and entrepreneurship,  He is behind the Vigin brand and competitor of Elon Musk in space travel with his Vigin Galactica.

He was interviewed by Simon Squip on entrepreneurship on how he built million dollar companies.   He simplified this and did not put hte arduous how.

He has five steps.

1.  Find the problem and the solution

2.  Have a team

3.  Build the product and solution

4.  Get the cash upfront

5.  Take risk,.

There is no mention of VC, borrowing the first second round etc, bank loan   

The # 4 I hink is the linch pin.  Like getting dp or full payment for the product.  Ad scontractors for the software house, and projects often do  Which the scammers do.   Like cash out  I cash out muna, padating na yong pera and then disappears.   If the scammers can do, and you are legit you can do this.

We had done on numerous projects.  No money but plenty of ideas.  We built many projects two dozen plus using #4.   We could also do this on a project that stalled.

If you are interested in more coaching materials from this post.  Gmail:    profjorge.entrep@gmail com, Dm jorgeus george.   + 63 908 928 7888

The business, marketing success secret revealed

Every generation needs a revolution - an entrepreneurial revolution

   

Rizal Philippines
May 17, 2017

What do you get from this story?   Having a lake full of Pesos:

The story is about prioritizing, when you fish:

1.   bait
2.   the fishing rod,
3.  fish processing
4.  lake?

I would like to think that this is marketing parable.  We often say that we are to be market oriented but most of the time we are not.  We are product or sales oriented.  This story says that we prioritize the lake, the market, where we can catch fish.  Thus a market research interview about the needs and wants of customer.



Of course the correct sequence would be:

1.  lake -  the market, where you can catch fish
2.  bait -   the product
3.   Fishing rod  -  your pitch, your promo
4.  processing -  the customer link bond to retain customers to get repeat sales

This is very consistent about my thesis for business success as gurus have all ready stressed:

1.  Peter Drucker -  a business is an entity that creates customer.  No customer no business.   Thus marketing and innovation are important function of a business

2.  Theodore Levitt -   Everything starts and ends with the customer.  The goal of business, all its functions are geared to satisfy the customer.

3.  Our belief - Customer service.  The customer is the king.     The customer is divine.  He pays our wages

This is the full story: