Understanding Strategy and Making Money
Virgin Airlines gives a great example of how Richard Branson runs a company. In place of getting caught up in price wars which really nobody wins, and as a result cutting back on service, he elected to offer medium-priced fares on transatlantic flights, that included things like films with ice cream included, showers, exercise areas, massages in-flight and private bedrooms.
The result has been that Virgin Airlines has become a cash cow.
His strategy of not going the route of Southwest Airlines or Jet Blue put him and his company in a niche that will be tough to take people away from.
He knows who is customer is, what they want, and he delivers it to them, beyond even their expectations. He sticks with his plan and simply adds on and makes it better and better. It's the typical way he runs his companies and he makes a lot of money while he does it.
It usually puts him in the lead in the "cool" of businesses he runs and competes against, and has them trying to emulate him, not the other way around. This is what really gets him off in his purpose for being in business.
Other Richard Branson Resources:
Richard Branson's Virgin Success
Thoroughly postmodern billionaire
Richard Branson's latest adventure will take Virgin into space
Richard Branson - Life - Philanthropy - Money
Richard Branson, Business Personality
Richard Branson conquered the world. Now he wants to fly you to space.
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