Why Sir Richard Branson Starts Businesses on Gut Feeling Not Accounting
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![“ I never get the accountants in, before I start up a business” ,[object Object],[object Object],[object Object],- Sir Richard Branson](https://image.slidesharecdn.com/sirrichardbranson-100227033418-phpapp01/85/why-sir-richard-branson-doesnt-need-accountants-1-320.jpg)
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Why Sir Richard Branson Starts Businesses on Gut Feeling Not Accounting
- 2. Dare Enough to Pose for This Picture! Having enough “guts” to make controversial decisions
- 3. Question: You’ve said you never get the accountants in before you start a business and that “it’s done on gut feeling.” Can you describe that feeling ? “ My gut feeling was if I could create the kind of airline that I’d like to fly on, other people would like to fly on it, too. If I had gotten the accountants in, they would have almost definitely told me all the reasons why it wasn’t going to work . But my gut feeling was that if I could create the best airline in the world, there would be a market for it We’ve set up 300 companies and almost all of them have been based on personal experience . I’ve been frustrated by the way something has been done by other people and if I can do it better, hopefully the bills will be able to be paid” Interview with Jeff Burger; “Business Jet Traveler”, April/May 2008
- 4. Question: Speaking of Google, why is it that Virgin, which seems to get involved in every thing imaginable, has never surfed the start-up internet wave ? “ I don’t know how to use the internet – it’s not something my generation is too familiar with. And when I don’t understand an industry, I leave it alone ” Interview with Arnaud Bouillin; “The New York Times”, 2008
Hinweis der Redaktion
- First, the question will be divided into 3 sub questions, to make easier to present our points
- The attention grabber of the presentation. Start by making a controversial statement that “This is the reason why Richard Branson don’t want any accountants involved in start up businesses”. Then, taking his decision to pose for this picture as an example, we will highlight the fact that Richard Branson is a “risk taker” in his character, and willing to do un-conventional things.
- This slide will make the background for the answer, as supporting facts from Sir Richard Branson’s own words
- This slide will make the background for the answer, as supporting facts from Sir Richard Branson’s own words
- Answer to the first sub question. Mainly summarized points above 2 slides of SRB’s interviews
- Answer to the second sub question. What is he looking for?
- Elaborating the answer to the second sub question. Talks about how relevant the “Virgin” brand, to his approach of investment appraisals.
- Answer to the 3 rd sub question. Since our subject is Financial Management, the success is measured in money terms. Highlight the fact that, even though SRB doesn’t take financial management techniques to investment decisions; most of his decisions were proven right by financial figures as outcomes.