One of the most enjoyable biographies I've read is Richard Branson's 'Losing my Virginity: How I've Survived, Had Fun, and Made a Fortune Doing Business My Way'.
I greatly admire Richard Branson, not just for what he has achieved, but more so for how he has gone about it. His style is very different from most entrepreneurs' and it's a style that cannot easily be replicated.
When I first started reading his biography, I was somewhat disgusted to learn how he often opportunistically started businesses. He described in detail how the system of 'resale price maintenance' imposed unfair taxes on music records, and how he discovered that he could bypass this law by declaring records as export stock and doing a few spins in his van around the Dover harbour!
"It was a criminal plan, and I was breaking the law. But I had always got away with breaking rules before."
I wondered how someone could have become so succesful if this was his attitude to doing business!
Branson then went on to describe how he was eventually arrested and spent a night in a police cell.
"Incentives come in all shapes and sizes, ranging from a pat on the back to share options, but avoiding prison was the most persuasive incentive I've ever had."
A settlement was agreed the day after, and his mother had to re-mortgage the family home to help pay the settlement.
He vowed that he would never again do anything that could land him in jail or harm his integrity.
Throughout the rest of his life, Branson consistently keeps the moral high-ground, never accepts or offers bribes and refuses to stoop to BA's level by countering their 'dirty tricks' campaign.
And look how that worked out for him...
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3 comments:
Good point! The pay off for attempting to make the best deal without considering the ethics can be harmful! The choice is never really a difficult one, just stick to your ethical standards. If you aren't sure what those are - find out quickly!
Writing from a recruitment perspective and having read the inspiring autobiography myself, I can honestly say that Branson has hit the nail on the head in terms of dedication, a will to succeed and a non-stop approach to hard work. Perseverance has never required a degree.
I've written a piece on finding remarkable talent last week which goes in conjunction with Seth's theory on being remarkable.
I believe that we are often blinded by what's on the CV in front of us as opposed to the person in front of us.
.. Henk nice point.
I think so many people never really see how closely related good business ethics and being successful are. There are so many shady characters/businesses out there in all shapes and forms (some may even appear very professional) and their CEOs can't figure out why the companies are stagnating.
.. not having the correct ethics (I'm talking both business and life) and doing things properly from the outset - like for example making sure your staff are all happy first (a company is first and foremost made up of its people) before giving yourself that fat raise, are all essential for the progress of yourself and your company.
There are a lot of businessmen blind to this point out there.
Branson epitomises what happens when you open your eyes to these issues and get your ethics right!
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