Richard Branson on why you don't need to know the basics...

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[@bobgom4915]

Suddenly the state of Virgin Trains makes a lot more sense.

[@ryanjohnston2968]

😂

[@Ibsonlovesyou]

😂

[@jroobz]

🤣

[@MattIn3rtia]

Mate, bring back Virgin Trains I say! Avanti suck!!!

[@stephanosuk78]

But they made a positive difference to peoples lives...

[@PlayrAds]

“Richard. You don’t know the difference between paying tax and not paying tax, do you?”

[@Karl_with_a_K]

Don't be absurd, as a highly successful International Businessman Richard knows quite well that Tax is for the little people and bailouts are for the big people .

[@aidanmagill6769]

You spelt theft wrong.

[@boum62]

Lol

[@boum62]

The main is to be born with wealth eh Richard ?

[@davidrutter3192]

🤭🤭🤭

[@AnthroKnowledgey]

A business man with this much power and influence didn’t know the difference between net and gross at age 50? What?

[@ThatOneCEO]

I used services of his Virgin Media and I believe him 100%..

[@Brock_273]

This guy is a genius .. .. and humbly honest

[@ianyoung7077]

​@@Brock_273 No, I think you got that wrong. Geniuses are the clever ones: this is just an example of how far a useless, but confident, idiot can go in Western Society.

[@stevea.b.9282]

That's the point,.he didn't need to know

[@sagovana]

🐂 💩

[@333nickmcd]

I think the real lesson is; you don’t need to know everything yourself but you do need to have good people who overall know everything!

[@Sheesh-zw9ij]

Then you must have the skill to recruit the best people and maintain a culture that enables them. It's still a dangerous principle to run a business on. His success path is not the norm and building life principles around exceptions is dangerous

[@themagicrat8803]

and then he showed me the net being hauled onto a boat that sailed to the Cayman Islands.

[@crazyguru9115]

😂😂😂

[@philipprocter2824]

If it doesn't matter that much, why sue the NHS and every British taxpayer?

[@1chish]

Because maybe he had a strong case against the NHS? You think the NHS is beyond making mistakes? Or maybe its just achieved some saintly status in the minds of Liberal Lefties?

[@adski0125]

So the morale of the story is - better to be lucky than smart... gotcha

[@dellwright1407]

No, the lesson is that you can succeed as an entrepreneur even if dyslexic and not great at maths. You don't get to create and drive a business worth billions by being "lucky". Finding $20 in the parking lot is lucky.

[@dellwright1407]

@@landrover4483 everyone plays the hand their dealt.

[@jorriffhdhtrsegg]

Proof it is all about getting others to do the hard work for you

[@_IHateHandles_]

That's basically the backbone of any economy. You pay other people to do the things you are incapable of doing yourself. It's called business. It's not an inherantly evil thing.

[@JackieMilburnt]

The point is, holding people like Branson up as icons of the self made is folly.

[@shaun5944]

​@@JackieMilburnt what are you talking about. The man has worked hard and he's obviously a talented businessman, give credit where it's due. I've read one of his books and he took the risks. We need people like him to create employment. If you want to play it safe stick to the 9 -5. It's called free enterprise 👍🇬🇧👋🙂

[@jpa_fasty3997]

The hard work like *checks notes* knowing business terminology

[@bobholyoake8577]

Yes, and they dont teach this at school, because they need sheep

[@leeparker1053]

Been a peasant myself, i enjoy this advice from these humble people.

[@sazzlepopz1553]

😂😂😂

[@jobloggs7400]

😂👏

[@markcraine4213]

Especially when you’re posh and connected

[@1chish]

Why do you assume he was 'posh and well connected'? because he never was.

[@musicmusicmusic21]

Gonna have to call bullsh*t on that..

[@bobholyoake8577]

Why? Because you cant understand how less clever people are doing better then you who have worked and listen how to be a slave from school system

[@dangl650]

absolutely

[@jonathanhowson6420]

He is dyslexic. I can confirm that we struggle with things like that, but are exceptional at other things.

[@lewisgreen2957]

Nice to meet the new boss of the U.K. NHS..

[@chrisbrady6687]

​@@jonathanhowson6420Love how you just compared yourself to Richard Branson simply because you're dyslexic. 😂

[@garico7464]

Sued the NHS. You're done mate.

[@robertbransby]

This 👆

[@derp195]

When you're as rich and powerful as this guy, you can't help but fall up.

[@lemilemi5385]

the secret to success is to be born into money

[@rosemarybishop5776]

He knows how to avoid paying his taxes!

[@drcl7429]

No he clearly doesn't. He knows to pay someone who does.

[@tonto8029]

@@drcl7429 Perfect reply

[@shanginadildo]

​@@drcl7429 so then he knows how to avoid paying taxes...

[@drcl7429]

@@shanginadildo Well... I suppose I know how to lots of things then.

[@thesaint8400]

​@@drcl7429 You know he was successfully prosecuted for import tax evasion?

[@robertedwards3551]

One of the biggest problems in privately owned companies is exactly this issue and not knowing it causes unnecessary financial stress on a company. The owners become in thrall to their accountants who have little idea of how to manage a business because understanding a set of accounts and decision making in business is not the same thing.

[@walther007]

Even privately held companies will have a board of directors or board of trustees who know what the hell they're doing. If you're talking about a tow truck company...sure, whatever.

[@wakeyskate]

@@walther007the ones with the e power to sack the CEO! (And agree his bonus..)

[@vicariousjohnson9823]

He seems to epitomize the saying "even a blind squirrel can find a nut once in a while."

[@Olyfrun]

Credit where it's due, Boris the Boglodyte has had several successes with Virgin.

[@PaulJacobs1970]

Not really cos Branson didn’t rely on luck at all. Read his book Losing My Virginity. Awesome read

[@nickparton5663]

Just remember as a matter of principle to sue public institutions that don't give you contracts.

[@1chish]

He didn't for the reason you gave but rather he sued public institutions when they breach the rules of the bidding process. As the Department of Transport did over the renewal of the West Coast Main Line contract.

[@Scubadooper]

"Make a positive difference to other people's lives" Best business advice ever

[@user-uq7zw7pj4s]

😂😂😂😂😂😂

[@wakeyskate]

Well, safe to say he failed with Virgin trains 😂

[@Scubadooper]

@@wakeyskate still good advice, whether or not he managed to do it with his companies

[@jobloggs7400]

This from the man that does nothing for the human race and has a private island in the Caribbean. Just like Epstein.

[@Cactuspractice12]

@@user-uq7zw7pj4s exactly lol. the delusion is breathtaking

[@missj.d9187]

This man's number one key to success is branding. Nobody in he's time when he first started understood the depth of branding as well has him. He knew he was the brand.

[@lavienestpasunlongfleuvetr2559]

He's the 'Brandson'.

[@Brock_273]

What a humble man......he didn't need to disclose this information but he did .....Why? ....to help others. He's a billionaire. Most of the critics writing on here probably struggling to pay their rent / mortgage. This humble man is a genius!!

[@BrendanDufftronic]

He's not that humble. The twat doesn't pay his taxes.

[@leucadendron007]

He did it to appear more human, he's that rich he doesn't have to care

[@dewiroberts579]

Yeah and he doesn’t pay his taxes so F off

[@jobloggs7400]

Or dumb?

[@harrybarker3441]

Completely agree, so many embarrassing comments on here

[@Laury79]

Richard started in the 60s, grew his company in the 70s and 80s. If you are starting and growing a business at any time in the last 15 years and have bluffed your way through despite the fact that you don't know the difference between net and gross, you are out of business before you find out. 2 years maximum with someone else's money. Boomers had it easy.

[@davep8221]

But more important is that he helped Mike Oldfield make Tubular Bells.

[@mr.orange8211]

He is owes his entire career to Mike

[@rogerstarkey5390]

@@mr.orange8211 vis versa

[@timmayers4965]

That was because dire straits pulled out of his deal because they couldn’t stand him so he turned to Mike. It was Mike’s genius that launched the record label. Branson is a terrible human being

[@TKsolotravel]

Have to Admire the absolute honesty. 👍 His passion and drive has certainly underpinned his success and I’d be certain no one here criticising him has reached anywhere near the same levels of success.

[@maxone007]

As a business owner I can say, there is a difference in numbers between gross and net, but not for the business itself. If you focus on your business, numbers don’t matter. If you focus on the numbers, business won’t matter.

[@jfrazz9729]

I’m always forgetting the net/gross relationship. So this helped! Little fishies in the net are the important number of what I’ve caught

[@Goodgollybenholly]

He knows how to avoid tax like the back of his hand though

[@1chish]

You do have proof of this?

[@Goodgollybenholly]

yeah, he got caught @@1chish

[@Goodgollybenholly]

@@1chish yes

[@1chish]

@@Goodgollybenholly So you don't and are just doubling down on your Slanderous allegation.

[@Goodgollybenholly]

@@1chish he literally had a criminal conviction for it.

[@navalrajnikanth3214]

Man is a professional yapper. Made alot of money with it.

[@OghamTheBold]

Usurer - made a lot of FR€€ MONEY from unearned interest from 5O,OOO more in graveyards 2022

[@MrChrisHobday]

You are truly inspiring & for me for years as you helped a friend with cancer at a young age. I’ve been heavy dyslexic with a thousand thoughts a second& now.I can control those thoughts so I can hear & act on them. Life then chucked me a curve ball with CRPS in my right leg all the way from knee to toes but life keeps going & so do I. I’m doing up a sailboat & going to sail south UK to start.

[@stitcha123]

Well I got one definitely believed this 100% occurred. Especially the coloured pencils bit.

[@29dj17]

This man has always been the simplest business man.

[@nigelroddy9125]

never let the truth get in the way of a good story...

[@thebenevolentsun6575]

I'm more surprised by the fact that the board member thought an analogy was needed to explain a concept as simple as net and gross profit.

[@harryagrotis326]

A positive difference in people's lives !!!!! What an amazing concept 😮

[@DenkyManner]

I'm imagining the guy who took him outside as Eric Morecambe trying to stifle his exasperation

[@ANGELOFDARKification]

They grill everyone on The Apprentice for not knowing this difference

[@thadapsta]

Kudos to that Director.

[@stuartmulloy7915]

"You dont have to captain the ship you build !! " You can have that Sir

[@TheInfamousButt]

Simple. Love it

[@semolinasemolina8327]

Can you create the company that's going to make a positive difference to people's lives? I love Richard Branson ♥️ he is England 🇬🇧

[@nvw2978]

Who sues the NHS and ultimately the tax payer, goes to Epstein Island multiple times. He is not England at all….unless that’s the sort of man you look up too. The rest of us who can think for ourselves, don’t.

[@lewisgreen2957]

Nice to see the future owner of the UK NHS looking so well..

[@caio5987]

I very much doubt him on this though If he said he was 20 when that happened then sure but 50?

[@wtfMYRONL]

He dropped out of high school. He has ideas and gets others who are better to do it. Steve Jobs didn't make a damn thing, he told others what he wanted when they said they can't do it, he said why not get it done and they did. But he is the genius and who people remember

[@thomasneumaier4907]

Being a leader doesn’t mean being the best at any individual speciality, it’s about managing experts and making decisions based on the information they provide!

[@chelseafan4eva]

But you at least gotta know the difference between net and gross

[@Fran-or3lt]

Man was flying a god damn balloon round the world, and he still uses crayons.

[@khidaral-mukhtaar7327]

“Oh… by the way… you’re fired! … for disrespect!”✅

[@clemalford9768]

Yes and a big profit for you!!!😮

[@devilfacedjedi]

Just goes to show you don’t need to know business to have a business.

[@bekind2047]

I think he is perfectly right. And his record shows.

[@Ibsonlovesyou]

Good to see I got some hope at 34

[@bandicoot5412]

When your there your there

[@hecticfreeze]

Or maybe this just shows that often those at the top don't really add value to a company and its the workers who really determine whether a company succeeds

[@joeferreira657]

Humble story that anyone can understand. Branson is always ready teach, which you well. 😊

[@marksproston9622]

What a great man to admit, he didn’t know at all. Remarkable person

[@kevanwillis4571]

The secret of success is surrounding yourself with people who know what they are doing.

[@carlosbent5046]

Trillionaire attitude 😎✌️

[@AdrianMunch]

Percentages is all a wealthy person concerns themselves with, After a certain amount of wealth your focus switches from the actual numbers to the percentages of your financial position.

[@danh5637]

The benefits of being an heir never having to learn the fundamentals of business.

[@barbarajackson-shennan8028]

Blimey! Staying power is my thing. Steadfast. I've never been a fan of his airline, record store, phone company or any of his endeavours. "To each his own". Choice is a wonderful privilege.

[@shaun5944]

I like RB. He makes money and has fun 😊👍🇬🇧🙂

[@cadavison]

His conclusion does not logically flow from his premises.

[@MickyPeers]

Very brave of him to admit his shortcomings.

[@TubaTones]

And then immediately saying that it doesn’t matter, just be pretentious.

[@peterb9407]

@@TubaTones did you watch the full interview? It was a pretty humble interview, nothing pretentious about it. He has learning difficulties and outsources the issues he can’t do, to people who can, nothing to do with him being pretentious 😂

[@stevencord292]

They only preemptively admit to something to cover for something worse

[@markashdown1314]

He’s a fraud, always has been.

[@mikemccaine4229]

its bullshit

[@mathewhylands2095]

For a guy who has slight learning difficulties, money talk!

[@EmperorMingg]

It’s also a great idea if you’re a small business, if you pay chartered accountants then you don’t need to know

[@eliah_B]

Seems a quite unbelievable story.... I ain't buying it 🙂.

[@drcl7429]

I guess you wont buy the story of how Virgin airlines started either.

[@cheydinal5401]

He isn't saying you don't need to know the basics, he is saying you *very much* need to know the basics and advanced stuff of what your company is actually doing. I.e. if you're selling books, you gotta know how to sell books, if you're doing pharmacy stuff, you gotta know how to do pharmacy stuff. Or if you don't, you need somebody who does know that, and who you can trust, and who can tell you what differenr investments would do with your profits

[@DanielMLaw]

No way did he not know the difference between net and gross at age 50. He’s a brilliant innovator and entrepreneur and that’s basic information. But it’s a good story anyway.

[@calc2323]

Rich people are not better than us. They have no idea what it's like for normal people.

[@lightningrt434]

He must have been involved in the current choice of apprentices in the latest Apprentice Alan Sugar series!

[@andrewjones9991]

So the real lesson here is outside of being born into wealth, as long as you can show up and be a base level functioning human being, the rest is luck.

[@lesleewatson4266]

His management team must love working for this level of creativity. Creativity alone doesn’t create success. His team does. Wowzers, what a cool guy.

[@alexforrest4551]

He shud have got the national lottery then we wud ave seen more winner . Bless you Richard ❤

[@jbug884]

Wow, for someone with ADHD like myself, that’s a brilliant way to remember net and gross. I can’t remember words, but never forget images!

[@merlinmillion]

The best bit is the point they took him outside and did a bloody drawing for him because he didn't understand 😂😂

[@elliotcollie1797]

Fun fact my uncle worked for virgin airlines, one time they all went to a really nice restaurant and Richard Branson was ordering all the most expensive steaks and wine, and then at the end of the meal stood up and said “thank you all for the meal” leaving the staff which consisted of mostly cabin crew to pay the bill, he was a multimillionaire by this point, apparently he did the same thing every staff night never once paid for anything

[@davidfortune6739]

Always making positive influences on other people's lives

[@MrFermanaghman]

Yea… I worked for a man who thought he was the best thing since sliced bread when it came to business, never provided support just used everything to beat you with. Toxic isn’t even close to what he was. Needless to say the business went bust! Unfortunately we all lost our jobs before Christmas.

[@ianbaxter2667]

💥P💥E💥A💥D💥O💥A💥L💥E💥R💥T💥

[@dundermifflinity]

Pretending to be stupid isn’t endearing.

[@leewiltshire111]

He's dyslexic like myself...!!

[@kmotch]

Nett profit doesn’t matter… I’ll have to share that with my board members so what they think. 😅

[@projectdalekmark]

Net is after overheads such as wages and bills have been paid. Gross is hhe overall money you made. Is this correct? Does net profit also include taxation?

[@NigelTolley]

Anyone wondering about this should just go read up on exactly how he made his first £10k. These days, you'd get fines of £millions and possibly some jail time.

[@Bigballs72]

I tried to run my business like that just doing a good job for a fair price. The problem is you can’t compete with business doing a crap job for a low price…

[@musictechguru]

What matters is being coming from old money

[@ce5890]

You do need to know, he's been at the sherry

[@boardmandave]

It's kind of important to know how much profit you're making though as a small business owner surely

[@darktruths133]

Whilst paying no tax

[@danmartens8855]

Hire people smarter than you are. That proves you're smarter than they are.

[@alanparmenter]

Oh please

[@samstevens4804]

BASIC question I’ve been asked this week “ as a business owner what is the point of opening a business ? “ Your thoughts ?

[@Millennial1993]

Profits get taxed growth allows you to borrow more so you don't get taxed

[@Moshie71]

I thought he said “I was in a board meeting when I was 15 yrs old..” then I realised he said 50 yrs old …

[@mvubu6823]

You can pay accountants by the hour, you can't educate creativity and work ethic.

[@peternault7040]

A friends dad told me they call it the gross because it's gross seeing how much they take away in taxes.

[@mikew742]

Pop that in the “it never actually happened” folder

[@barirwin8559]

I was in a leopard skin g-string at EP's place when the call came in

[@chriswinter8511]

You don't need to know everything to own a good buisness you just need to hire people who do know to lead the different sectors of it.

[@JB-qf5ep]

How do you get the money to be able to hire other people who can make up for your inadequacies? Banks won't give you a loan unless you have a solid business plan, which would naturally have to include the concepts of gross and net. So is the answer 'be rich already'?

[@pantysnifer927]

Branson is the best for VAT fraude...

[@TheIllynow]

That's all very well if you have 'staff'

[@marccas10]

If you believe this you'll believe anything.

[@christianmulingbayan7222]

Where is the full interview?