A bit cheeky but relevant to the course. Richard Branson has been defined for his entrepreneurial spirit that not only founded the Virgin companies (records, mobile, air, galactic) but also seen him break world records in ballooning, sailing, and other extreme adventures.
His book “Screw it, Let’s do it” is a fun read and inspiring in showing the power of the entrepreneurial spirit to overcome challenges while also having fun.
To many, the entrepreneur is seen as the daring innovator that sees a problem challenging society and goes out on their own to solve that problem. In his book and interviews, Branson talks about various business deals that coincide with our reading. In “Entrepreneurial Law”, Viktor talks about the entrepreneur despising the formalities of rules and laws but also benefitting from their protection. Branson mentions a couple stories that resonate with this notion. For instance, on a trip out of Puerto Rico with his wife, Branson chartered a private plane and charged Virgin Airline’s first customers after the airport had reportedly shut down and was not chartering any flights out. Branson saw a problem and created a solution. That solution then led to his inspiration to start Virgin Airlines. During his company conception, he faced unfair competition ploys by competitors but was able to use the laws in place to circumvent them and ensure his company’s success. Thus, Branson’s success as an entrepreneur was due to his impatience with the status quo, his innovative spirit, and his tactical use of business laws in place to protect his positions.