Richard Branson on Knowing When to Quit Your Day Job

 

 

 

 

 

 

 

 

Where there is no vision, there is no hope.

George Washington Carver

 

 

BY RICHARD BRANSON | November 18, 2013

Editor’s Note: Entrepreneur Richard Branson regularly shares his business experience and advice with readers. Ask him a question and your query might be the inspiration for a future column.

Q: I am very successful at my day job, and I also run a small business. With more time, effort and investment, I think my business could be hugely successful, but this would require that I quit my job. How do you know when it’s the right time to take an entrepreneurial leap of faith? — Nhuri Bashir

Almost everyone has some entrepreneurial spirit, and with it, the potential to run their own businesses. But an entrepreneur’s life isn’t for everyone. Many people decide instead to put their talents to work at somebody else’s company, innovating as intrapreneurs. For others, working for someone else is never an option, and so they start launching their own ventures early on.

Nhuri is one of those people who has to choose between intrapreneurship and entrepreneurship: Without knowing more, I can point out that it’s clear you have great confidence in your business, so sooner or later you’ll have to give it a go full-time. If you don’t, you’ll spend the rest of your life wondering what might have been.

It’s true that entrepreneurs have to take a leap of faith at some point. While it may seem daunting, the key is to make sure you’ve got a parachute.
The first step in preparing for the day you quit your job is to plan out the launch of your business (or, in Nhuri’s case, its expansion), thinking through everything from the type of location you want for your office to how you want your product to look on store shelves. You need to work out as many of the bugs in your plan as you can ahead of time — while keeping an eye on the clock. If you take too long, the circumstances might change, altering markets so that you could miss your opening.

To make sure the broad outlines of your plan work well and to sort through the details, you need to connect with some strong mentors. Having a sounding board for your ideas will be invaluable, and will help you make the transition from part-time businessman to full-time entrepreneur more smoothly.

Nhuri’s situation reminds me of the day that Brett Godfrey, a member of the financial team at Virgin Express, our European short-haul operation, approached me with an idea to launch a Virgin airline in Australia. Brett outlined his plan, I offered my thoughts, and together we hashed out the details on the back of a beer mat. Soon we were on the way to creating the next Virgin business, with Brett at the helm as the CEO of Virgin Blue, Virgin as one of his investors, and myself as his co-founder and mentor.

Though Blue only had a couple of planes when it started operating in 2000, Brett grew the airline (now known as Virgin Australia) into a thriving business. Brett and I are firm friends – we own Makepeace Island on Australia’s Sunshine Coast together – and his entrepreneurial career has gone from strength to strength.

Your mentors will also be the people you will turn to for advice and assistance when things don’t go according to plan. And you can be certain that things won’t go as planned, though that’s half the fun. Decision-making can be more difficult when the wrong call can make the difference between your being able to pay your bills (and your employees) or not. With a strong support network of people who have experience and know-how, you’re more likely to make better choices.

Before your business becomes your sole source of income, you need to be sure that you’ve protected the downside. You may need to secure financial help from investors, or perhaps your business requires that you take on partners who have the clout to give it the best possible start. Whatever type of business you are hoping to launch, you should think about the consequences if it is slow to take off or even fails, and do what you can to minimize that possibility. If you are able to put together a contingency plan, that will help you to proceed with confidence.

While you plan and network and find financing, remember that the window of opportunity is closing – at some point, you will simply have to go for it. Then all that’s left to do is give up your day job and become your own boss.

Be brave: After all that planning, it’s now time to have confidence in your idea and believe in yourself and your team. Good luck!
The author is an Entrepreneur contributor. The opinions expressed are those of the writer.

Richard Branson is the founder of Virgin Group, which consists of more than 400 companies around the world including Virgin AtlanticVirgin America and Virgin Mobile. He is the author of six books including his latest, Like a Virgin: Secrets They Won’t Teach You at Business School (Portfolio Trade, 2012).
 

a little about me and my expertise – video

                    

LAND SPECIALIST – LAND EXPERT – INVESTMENT BROKER – ARIZONA

https://www.youtube.com/watch?v=PPs3kpKR4nY

 

http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history

 

http://en.wikipedia.org/wiki/Phoenix,_Arizona

 

 

3

Facts of Arizona – year 1848 to 2013

http://walter-unger.com/?p=9507

 

4.

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.

 

 

View my listings and my profile at:

http://www.loopnet.com/profile/14101172900/Walter-Unger-CCIM/Listings/

 

www.Walter-Unger.com

www.KLCommercialGroup.com

 

What is a CCIM?

 

 

Please go to my web-site and get all the newsflashes and updates in Commercial Investment Real Estate in Phoenix and Commercial Investment Properties in Phoenix daily

 

www.walter-unger.com

 

Follow me on Facebook:

http://www.facebook.com/ungerccim

Follow me on Twitter:

https://twitter.com/Walterunger

Follow Me on Linkedin:

https://www.google.com/search?q=linkedin+pub+walter+unger+ccim+782+920&channel=linkdoctor

Follow Me on Google+

https://plus.google.com/u/0/b/114560883588623379451/

 

Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.

 

WHETHER YOU LEASE OR OWN

NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.

 

we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.

 

WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME

  We barely could give land away the last few years, but times are changing.  Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.

 

If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us. 

 

Please reply by e-mail walterunger@ccim.net or call me 520-975-5207 (cell)  602-778-5110 (office direct).

 

www.Walter-Unger.com

 

 

 

Thank You

Walter

 

Walter Unger CCIM

Associate Broker

Kasten Long Commercial

2821 E. Camelback Road, Suite 600

Phoenix, AZ 85016

Cell:      520-975-5207

Direct:   602-759-1202

Office :  602-445-4141

Fax:      602-445-4188

walterunger@ccim.net

 

Delivering the New Standard of Excellence in Commercial Real Estate 

 

www.walter-unger.com

www.KLCommercialGroup.com

 

 

  • Commercial Real Estate Scottsdale
  • Commercial Real Estate Phoenix
  • Commercial Real Estate Arizona
  • Commercial Investment Properties Phoenix
  • Commercial Investment Properties Scottsdale
  • Commercial Investment Properties Arizona
  • Land Specialist Arizona
  • Arizona Land Specialist
  • Land Specialist Phoenix
  • Phoenix Land Specialist
  • Land For Sale Phoenix
  • Land for sale Arizona
  • Commercial Properties For Sale Phoenix
  • Commercial Real Estate Sales Phoenix
  • Commercial Properties Phoenix
  • Commercial Properties Arizona
  • Commercial Land Specialist Phoenix
  • Commercial Land Phoenix
  • Multifamily land Phoenix
  • Retail Land Phoenix
  • Industrial Land Phoenix
  • Land Commercial Phoenix
  • Land Retail Phoenix
  • Land Industrial Phoenix
  • Land Multifamily Phoenix
  • Industrial Land for sale Phoenix
  • Land Industrial
  • P
  • Investment Real Estate

 

 

 

Disclaimer of Liability

The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.