When we think of entrepreneurs who have disrupted major business industries, Richard Branson and the Virgin brand are at the forefront of our minds. While large and powerful enough to literally go out of this world with Virgin Galactic, Branson’s huge empire came from humble beginnings. When Richard Branson left school at 16, his headteacher predicted he would end up either in prison or a millionaire. While he spotted something special about Branson, unfortunately school did not encourage or harness his talents. Branson was dyslexic and struggled with school – unfortunately in the 1960’s, there wasn’t the recognition or support that schools provide today. It’s quite ironic then, and reflective of Branson’s character, that his first business venture at age 16 would be a magazine, “Student”. 10
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At 16, Branson was close enough to his customers to know what they would be interested in, and his next business, selling records, was created from his own passion for music, and marketed to fellow music lovers through Student Magazine. He knew that students wanted a cheaper way to access music than the high street stores, and creatively found solutions to make that happen. As exciting and controversial bands hit the music scene in the 1970’s, Branson created his own record label to ensure their music reached the wider public. All of Branson’s business ventures start with a frustration with an industry, usually around pricing, and an almost childlike belief that he can change it. Virgin Records and Virgin Music disrupted the music industry before the term was even invented. Branson saw multiple industries that were ripping
