Richard Branson tweets his start-up tips
Uber entrepreneur answers questions via Twitter web chat
The inimitable Sir Richard Branson has shared his tips for success with aspiring entrepreneurs via Twitter.
The Virgin founder, who is worth £2.7bn, answered questions from his Twitter followers – including fellow business mogul Lord Sugar.
Among his answers, Branson advised start-ups to self-fund for as long as possible and said it’s never to late to take the plunge into business. Startups cherry-picked some of Sir Richard’s best business tips:
@helirocket: In a “20 second elevator pitch” explain what you look for in a genuine business idea to grab your attention? @richardbranson: An idea that stands out from the crowd. An idea that is original and will make a radical difference to people’s lives.
@amitc: What is the simplest thing people do not realise about taking their own business to success?@richardbranson: That all a business is is a group of people and the 100% necessity to inspire.
@HarryGordon1: Would you put your career on hold to go travelling for a year at the age of 21?@richardbranson: Yes. Definitely. Especially in this climate. You’ll return invigorated, knowledgable and ready to go!
@ciaramc31: I also struggle with dyslexia, how did you overcome this, I want to run my own photo biz but am afraid my written will let me down.@richardbranson: Dyslexic people exceed at what they’re good at and delegate or forget the rest.
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@ElspethYates: Do you think self-funding a start up and taking longer to set up is better than taking investment/loan? @richardbranson: Self-fund for as long as possible, so you can keep as big a stake as possible.
@Lord_Sugar: Frequently asked question of me. If you were 18 again today could you achieve the same in this day and age? @richardbranson: Hello Alan! I think so, as long as I saw an opening that hadn’t been filled. What about you?
@WendyLiebman: Can one (me) suddenly become entrepreneurial at 50?@richardbranson: Why not? If you have an idea that will make a big difference to others. Screw it – just do it!