Richard Branson's tips for wealth creation

24 Mar 2016
We all know who Richard Branson is. In fact, having achieved celebrity status through his successes alone — it would be hard not to know him. We may look at him on his island with his Virgin Group and assume that he had things easy in life, that things were given to him or that he was just lucky.

The reality is that this extraordinary Brit was born into a pretty ‘ordinary’ family and worked extremely hard to get where he is. Having struggled academically at school with dyslexia, he dropped out at the age of 16 and started his first ever business — a magazine called ‘Student’. From there he started his record company that grew into a record label — his own airline and mobile company followed shortly.  The Virgin Group now consists of over 200 companies all over the world and his personal net worth is at approximately $5.2 billion. Needless to say, if you are looking for tips for wealth creation, Richard Branson is the person to turn to — he seems to know what he is doing. Here is a list of his top tips for success, and therefore wealth creation, based on this article:

Follow your heart
While this might be surprising, one of Branson’s top pieces of advice for success and wealth creation is to follow your heart and pursue the things you are passionate about. Branson didn’t see himself as a businessman. In fact, quite the opposite: “I wanted to be an editor or a journalist, I wasn't really interested in being an entrepreneur, but I soon found I had to become an entrepreneur in order to keep my magazine going.” He pursued his passion and the rest was really a means to an end. Branson also believes that those who follow their passion and do what they love really live life to the fullest. While you may be concerned that pursuing what you love would be extremely risky, the reality is that every business or venture includes risk, so why choose something you don’t absolutely love. Remember, often following your heart and taking risks leads to great rewards.

Have faith in yourself 
While following your heart is certainly a good starting point, Richard Branson urges people to truly and wholeheartedly have faith in themselves and their business ideas. This is often the determining factor for whether or not your venture fails or succeeds. He sums it up perfectly: “If you aren't proud of your idea and believe in your plans, why should anybody else?”.

Have fun with it
Branson is often seen in pictures making fun of himself, doing something utterly nutty, or just having an all round good time. He believes that “Fun is one of the most important - and underrated - ingredients in any successful venture.” He believes that if you don’t enjoy what you are doing, you shouldn't do it at all and one of the ways to make it work, is to genuinely have fun with it. 

Choose your staff carefully
For the most part, real wealth creation is not going to happen by itself or with you alone. If you start a new venture, the chances are that you are going to need a team to help you. When you choose the people that work with you, do so carefully.  Branson suggests that you “Find people who look for the best in others, praise rather than criticise, and love what they do.” Of utmost importance is that your staff are having fun too, enjoying and believing in the cause as much as you do. Staff who enjoy their work, work well and hard. Don’t underestimate the power of a happy, fulfilled team.

Richard Branson's tips for wealth creation

Keep moving forward
Another of Branson’s top tips for wealth creation is to keep moving forward no matter your challenges, and never give up. If something doesn’t go exactly according to plan, figure out what you can do differently next time, and keep going. 

Write down your goals
Writing down goals can keep you focussed on the direction you want to go in. Branson recommends not only writing down all your goals but all your ideas too, to avoid forgetting things that could become something big in the future. 

Learn to delegate effectively
Richard Branson is a firm believer of spending time with loved ones. He recommends learning how to delegate properly so that you can spend time with the people that are important to you. Branson sees delegation as one of the most important skills you can learn. Not only that, he finds that “If you find people who can take on tasks you aren't good at, it frees you up to plan for the future.” 

Spend less time watching TV
Branson believes that instead of wasting away doing things that are unimportant or don’t further you or your venture in any way such as sitting in front of the tv, you should go and enjoy what the world has to offer in terms of new adventures, lessons and meeting new people. You never know what will inspire your next venture which will lead to even greater wealth creation in the future. 

Richard Branson's tips for wealth creation

Ignore your critics
Branson encourages people to disregard their critics but to use critics as a motivational force to keep going in order to eventually prove them wrong. By not getting disheartened by people who will try to pull you down, you make yet another move towards success and wealth creation. 

“Do what you love and have a sofa in the kitchen”
While many people believe that they will be happy once they are successful, Branson believes that he is successful because he is happy. He believes that if you follow these ideas and tips for success, and by virtue of that, wealth creation, are passionate about what you do, spend time with those you love and have a wonderful team to work with, you will be successful. His top tips as encapsulated in the above heading however, are follow your passion, and spend time with your family.

If you are interested in another path to wealth creation, you can invest in property. Properties are wonderful ways to generate an extra form of income and doubles up as an extraordinary place to spend time with your loved ones — where Branson would definitely encourage having a sofa in the kitchen. If you are looking for the perfect place to invest in, then look no further than Calpe. For more information on our extensive portfolio of property in Calpe, as well as our in-house tenanting service, contact us

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