In music financial services advertising, he developed ventures as executive officer or majority shareholder. Branson approach to his risk taking life and business made him a folk hero and among the wealthiest men of the nation. Under the oversight of Branson the Virgin group allowed the brand diversify and to evolve with the market and fostered imagination. TEENAGE ENTREPENEUR – Branson began to show his talents and overcame dyslexia. Born to a middle class family, he exhibited a competitive spirit and a natural intelligence. His business ventures comprised breeding birds and growing Christmas trees. Branson left boarding school as he reported in the autobiography, Losing My Virginity, chafing under jurisdiction.
Branson at the time his headmaster told him, I predict you’ll either become a millionaire or go to jail. In 1966 Branson launched Student, an oriented for youth magazine. Since the editor Branson interviewed John Lennon, Mick Jagger Together with other celebrities. In addition, he started a referral service for youth, the Student Advisory Center. Branson was effective in getting the charges dropped, setting a precedent for the conflicts. After selling Student Branson began Virgin Mail, a mail order record label. The subsequent year he opened a retail store, which by 1972 had become a chain of 14 stores around the UK.
Charged with evading buy taxes on import record sales, Branson escaped prosecution by paying an out-of court settlement. Saddled with $90, 000 in fines and debts, a sober Branson expanded the chain of stores and bought a small castle in Wales, turning it to a recording studio. His next project was to set a record label of his own. With the cousin Simon Draper as the creative director and Nik Powell as the company manager, Branson inaugurated Virgin Records in 1973. Among the label’s initial releases was Mike Oldfield’s album Tubular Bells, which overtook the U.S. Charts in 1974 and sold a lot more than 13 million copies.
Virgin had suddenly become probably the most effective independent record companies in the UK. Despite the image as a hippie capitalist dabbling in business, Branson proved an astute negotiator from the start, signing the artists to long contracts, acquiring worldwide rights to recordings, and owning copyright for so long as possible. RISKY VENTURES AND DARING EXPLOITS – After its impressive start Virgin Records in a stagnant period in the mid-1970 s. Richard Branson failed to sign such established acts as the Rolling Stones and had to rely on Oldfield’s sales to keep the profitable label. Matters didn’t start to improve until Virgin signed the Sex Pistols in 1977.