Book Reviews
Losing My Virginity by Richard Branson
By Ellen E. Thompson
Apr 26, 2006, 17:34

I have only one really indulgent, relatively expensive shopping habit. I love to buy books! And as much as I’m an advocate of online shopping, there is nothing quite like a trip to the bookstore – the thrill of browsing the stacks, the intoxicating scent of freshly minted books, the coffee chaser… If there was any doubt in your mind, yes, I am hopelessly geeky.

A trip to the bookstore is incomplete without a quick scan of the business section. On a recent visit, I spotted the word “Virginity” – the last word I expected to see emblazoned on the cover of a business book. It was a Purple Cow. Notwithstanding what this says about me, it attracted my attention, so I picked it up.

I knew a little bit about Sir Richard before I read the book. I watch Fox, so I knew he was The Rebel Billionaire. I was also aware of several parts of the Virgin empire including Virgin Records, Virgin Air, Virgin Mobile and Virgin Cola. That was about it. As always, there is so much more “behind the curtains.”

The book begins in January, 1997. Branson, already widely successful, is once again tempting fate by attempting another extreme hot air balloon ride. Previously, he’s crossed the Atlantic and the Pacific Oceans. Now, he and his team are once again risking life and limb – they are trying fly around the world. They fail.

The book continues from the beginning of Branson’s life. Richard Branson and his two sisters were raised in rural England by supportive parents of modest means. Branson was a terrible student, and his teachers beat him frequently for his non-performance, a common practice at the time in British schools. Branson’s academic challenges were not caused by laziness or poor IQ. He was dyslexic and nearsighted, years before these learning differences were understood.

Richard discovered that math took on a whole new meaning when it was applied to calculating profits. Unlike his academic studies, developing business ideas, and calculating projected revenue, expenses and profits came very naturally. With the help of friends, he started several small businesses, most of which failed. He launched Student magazine, which became relatively famous and introduced him to key players in the music business, including Mick Jagger and John Lennon. It ultimately failed, too, but sowed the seeds of his first blockbuster success: Virgin Record.

Virgin Records started as a mail order company which sold discounted records. Eventually, Richard and his partners cobbled together a vertically integrated music machine which included recording studios, a record label and retail distribution through its own network of stores.

Virgin Records started to throw off a lot of cash, and Richard was invited to help launch a new airline. Despite ups and downs, cash continued to flow in, and the easily bored Branson reinvested in other businesses, like Virgin Cola. Along the way, he rescued British hostages being held by Saddam Hussein.

From this sound bite, it looks like Branson had an easy go of it. However, like all entrepreneurs, Branson had an ample number of challenges to overcome, and his vision and success evolved over time. He was broke throughout the formative years of the business and constantly at odds with bankers looking to call in his credit line. He needed to sell his beloved music business to raise the capital needed save Virgin Air. He even had to sue British Airways to end their anticompetitive practices. Branson personal life was not entirely without setbacks either: he suffered the loss of a stillborn child. On more than one occasion his risk taking nearly cost him his life.

However, more than most entrepreneurs, Branson enjoyed the ride. He had fun….and a lot of sex along the way. It was the 70s, after all…..

In the end, the risk taking paid off financially, and big time. He is happily married with two wonderful children. His friends are household names – Peter Gabriel, Phil Collins. He’s even been knighted.

The first chapter sets the tone for the rest of the book. In a nutshell, like most entrepreneurs, Branson’s business life was a wild roller coaster ride propelled by a series of calculated risks, and not without setbacks. Often Branson gets what he wants – a profitable business or a new hot air ballooning record. Other times, he has failed – as spectacularly as he has succeeded.

The next time you find yourself calculating the net worth of one of your entrepreneurial customers or colleagues, consider what they went through to get there. The businesses they built have likely been years, and perhaps decades in the making. I’m sure it wasn’t easy in the beginning, and while their struggles may be different today, they continue to take considerable risks to grow their businesses. Like Branson, they won because they paid their dues. And if they are smart, they had some fun along the way!

If you are willing to take the same calculated risks and make the same sacrifices, you can succeed, too!

Stars awarded 4 out of 5
As business mogul autobiographies go, as fun as they come, but a little slow towards the

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