Most en­trepreneurs fail as they in­tend to make money, says Vir­gin Group founder

New Straits Times - - News -


ASUCCESSFUL en­tre­pre­neur needs to fo­cus on cre­at­ing a busi­ness that en­riches the lives of oth­ers, rather than just profit-mak­ing on its own, Vir­gin Group founder and en­tre­pre­neur Sir Richard Charles Ni­cholas Bran­son said.

The leg­endary busi­ness­man opined that it is im­por­tant for en­trepreneurs to be cer­tain and fo­cused on their pur­pose be­fore em­bark­ing on what­ever they set their hearts on.

“A busi­ness is sim­ply an idea that will im­prove peo­ple’s lives and, hope­fully, some money will come out of it,” he said with a laugh dur­ing his panel at the Global Trans­for­ma­tion Fo­rum 2017 (GTF2017) here yes­ter­day.

“There are a few ex­cep­tions to that of course, but most en­trepreneurs fail be­cause they in­tend to make money in­stead of en­rich­ing lives.

“It is im­por­tant to find that pur­pose first be­fore em­bark­ing on a project.”

Bran­son stressed that en­trepreneurs should not be afraid or ashamed of their fail­ures as fail­ures build both char­ac­ter — and in­ter­est­ingly enough — their re­spec­tive brand.

“You are not an en­tre­pre­neur if you do not have fail­ures,” Bran­son

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