RICHARD BRANSONVIRGIN GROUP

Presentation: Mukesh Bhavsar

Early days   Richard Branson was born on 18 July 1950 in South London, the son of

barrister Edward James Branson and Eve Branson.

Branson had poor academic records which contrasted with excellent performance in sports, especially swimming.

“Sent to a different school, Branson was initially expelled for his nocturnal visits with the headmaster’s daughter. But, after writing a fake suicide note, Branson got the expulsion overturned. Back in school, Branson set up Student Magazine at the age of 16 and opened the Student Advisory Centre a year later, which was a charity to help young people. After his first issue of Student, the headmaster of Branson’s school wrote a note saying, “Congratulations, Branson. I predict you will either go to prison or become a millionaire.”

In the next forty years, Branson would go on to prove his headmaster right on both counts.

Richard BransonNot good in education, DyslexicQuit school at the age of 16Fastest to cross the Atlantic ocean in a boat

called Atlantic ChallengerOpened studio to let artists work at nightVirgin Atlantic- 1st plane crashCame from a hot air balloon for marriageGalactic- Travel in space, on moonOwns an island

CAREERHis business career began at the age of 15

when he published the magazine called "Student“

Student advisory centre for charity to help youngsters

He went on to set up a mail-order business in 1970 in the vinyl record business which, in 1972, became a chain of record stores called Virgin Records, later known as Virgin Megastores

1968This is where it all began. Richard's first venture 'Student' magazine went into print

1971

The first Virgin Record Shop opens in Oxford Street, London

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1973

The Virgin record label is launched and the Virgin Music Publishing operation is established in the UK. Mike Oldfield releases Tubular Bells, one of the biggest selling albums of the decade and the soundtrack to 'The Exorcist'..

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1984

Virgin Atlantic takes off

Boat & Balloon tour

1987

Virgin Records America is founded

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1988

Virgin Megastores opens new stores in Glasgow and Paris, followed by numerous other British, European, American and Pacific Basin cities..

1990

Virgin MG comes in Japan

1993

Virgin Radio hits the airwaves as the UK's first national, commercial rock music station.

1994Virgin Retail becomes the UK's largest music retaile

1996

Virgin Express airline takes off

Virgin Net launches as an internet service provider...

Virgin Brides opens its doors

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1997

Virgin Trains wins the 15 year franchise for the Intercity West Coast line

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2000Nine new companies are launched: Virginmoney.com (a financial services supermarket); Virgin Travelstore (travel agency); Virgin Student (a student community website and marketing agency); Virgin Energy (gas and electricity sales) V.Shop (a new retail concept replacing the Price brand); Virgin Cars; Virgin Wines; Virgin Mobile Australia; Virgin Blue (low cost airline in Australia which goes on to be the fastest-growing company in Virgin's history

And some more things…1993- Doctor of Technology from

Loughborough University2004- Space tourism company, Virgin

GalacticBecame Sir Richard Branson when he was

knighted by the Queen in 1999 for "services to entrepreneurship“

Virgin GroupMore than 300 companiesBusinesses in sectors ranging from mobile

telephony to transportation, travel, financial services, media, music and fitness

50, 000 employeesExistence in 30 countriesVirgin stands for value for money, quality,

innovation, fun and a sense of competitive challengeRichard Branson was listed in the Forbes' 2008 list

of billionaires with a net worth of approximately $7.9 billion USD

While starting a new venture…hard research and analysisGo in customer's shoes an opportunity for restructuring a market and

creating competitive advantage?What are the competitors doing?How can we add value?Is there an appropriate trade-off between risk

and reward?reate partnerships with others to combine

industry specific skills, knowledge, and operational expertise

The Rise Of Virgin GroupVirgin, a leading branded venture capital organization, is one

of the world's most recognized and respected brands.

Virgin stands for value for money, quality, innovation, fun and a sense of competitive challenge.

The Virgin brand grew rapidly during the 1980s. He was known for running close to the edge in terms of his financing model and risked everything with Virgin Records to set up Virgin Atlantic Airways. due to the capital requirements his bankers forced him to sell Virgin Records to hold onto Virgin Atlantic Airways but he then went on to build the Virgin brand into diverse areas such as bridal gear and railways.

Key points to successhard research and analysis Questions:- Restructuring a market and creating

competitive advantage? What are the competitors doing? Is the customer confused or badly served? Is this an opportunity for building the Virgin brand? Can we add value? Will it interact with our other businesses? Is there an appropriate trade-off between risk and reward?

Intelligent people are more important than money

LESSONS LEARNT FROM BRANSONBe A Good LeaderBuild A Powerful BrandKeep Flying HighBreak RecordsHave Fun

LINKS and REFERENCE

 Virgin.Com Speaker on Virgin ValuesRichard Branson's Virgin SuccessBranson, Sir Richard. Losing my virginity —

The autobiography, 2005, ISBN 0-7535-1020-0Bower, Tom. Branson, 2001Branson, Sir Richard. Screw it, let's do it, 2006Guardian Newspaper Interview Askmen.com feature on Richard BransonVirgin Corporate Website

THANK YOU