Topics: Richard Branson, Virgin Group, EMI Pages: 6 (1705 words) Published: January 24, 2013
World Famous Male Business Leaders : Secret of Success

People often start a business expecting it to be successful. There are many reasons for opening up a new business. Some people desire to earn income while others seek to be self-employed. However, the performance of business varies from one business to another. While one businessperson may be successful, another may be a poor performer or at worst a failure.

For any business to be successful, the owner and the senior management staff must possess certain entrepreneurial qualities or characteristics. Qualities or Personal Entrepreneurial Characteristics (PEC) of successful entrepreneurs refer to the desired traits, which enable an entrepreneur to do what is expected of him/her and succeed in business. It is the combination of these characteristics that is required to enable any one to perform effectively as an entrepreneur. It is possible for people to develop these characteristics and succeed in their careers as entrepreneurs. Successful entrepreneurs have common characteristics, which are divided into three clusters namely achievement, planning and power.

1: Common Qualifications of the World Famous Business Leaders

1.1Biography of the selected world famous business leaders

1.1.1 Sir Richard Charles Nicholas Branson

Born July 18, 1950, in Surrey, England, Sir Richard Charles Nicholas Branson struggled in school and dropped out at age 16, a decision that ultimately lead to the creation of Virgin Records. His entrepreneurial projects started in the music industry and expanded into other sectors making Branson a billionaire. His Virgin Group holds more than 200 companies, including the recent Virgin Galactic,a space tourism company. Branson is also known for his adventurous spirit and sporting achievements such as crossing oceans in a hot-air-balloon.

1 Early Life

Born Richard Charles Nicholas Branson on July 18, 1950 in Surrey, England. His father, Edward James Branson, worked as a barrister. His mother, Eve Branson, was employed as a flight attendant. Richard, who struggled with dyslexia, had a hard time with educational institutions. He nearly failed out of the all-boys Scaitcliffe School, which he attended until the age of 13. He then transferred to Stowe School, a boarding school in Stowe, Buckinghamshire, England. Still struggling, Branson dropped out at the age of 16 to start a youth-culture magazine called Student. The publication, run by students, for students, sold $8,000 worth of advertising in its first edition, which was launched in 1966. The first run of 50,000 copies was disseminated for free, after Bransoncoveredthecostswithadvertising.

By 1969, Branson was living in a London commune, surrounded by the British music and drug scene. It was during this time that Branson had the idea to begin a mail-order record company called Virgin to help fund his magazine efforts. The company performed modestly, but made Branson enough that he was able to expand his business venture, adding a record shop in Oxford Street, London. With the success of the record shop, the high school drop-out was able to build a recording studio in 1972 in Oxfordshire, England.

2 Virgin Records

His first artist on the Virgin Records label, Mike Oldfield, recorded his single "Tubular Bells" in 1973 with the help of Branson's team. The song was an instant smash, staying on the UK charts for 247 weeks. Using the momentum of Oldfield's success, Branson then signed other aspiring musical groups to label, including the Sex Pistols. Artists such as the Culture Club, the Rolling Stones, and Genesis would follow, helping to make Virgin Music one of the top six record companies in the world.

3 Business Expansion

Branson expanded his entrepreneurial efforts yet again, this time to include the travel company the Voyager Group in 1980, the airline Virgin Atlantic in 1984, and a series of Virgin Megastores. But Branson's success was not always predictable....
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