From the top · 11 April 2018

From Branson to Beyonce: Big business risks that paid off

Richard Branson
Richard Branson’s publicity stunts have become an anticipated aspect of every new Virgin venture.

An investigation by foreign exchange broker, Forex Time (FXTM), looked into the business risks that some of the largest brands known today took before becoming successful.

These risks ranged from Fred Smith, founder of FedEx, gambling the companies remaining $5,000 in Vegas to Beyoncé dropping an entire album overnight with absolutely no marketing or promotion.

The infographic features Virgin Atlantic CEO, Richard Branson, who has never been shy of taking risks. Whether it be entering a new market with Virgin Atlantic Airways or selling Virgin Records.

Branson advocates risk taking and it is believed that at one time there was 125 law suits against him. He currently helps startups with his non-profit organisation which supports emerging entrepreneurs.

Also included is Elon Musk. Co-founder of PayPal, Musk decided to enter two new businesses in two different paths, one of them being the thriving electric car brand Tesla.

FXTM said: “An area that no American firm had been able to do successfully in the last 50 years.” The car company is now worth over $2.5bn and Musk’s networth is $6.4bn.

The Chief Content Officer for Netflix is also featured. Ted Sarandos, who was responsible for the gamble initating House of Cards and two other original series for Netflix

This was seen as a risk after industry critics warned him on his “non-traditional” method of release app episodes at once.

“The risk paid off and instead fans would bing watch episodes and constantly talk about the show for months,” FXTM said.  As House of Cards was bought for $11m in 2011.

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ABOUT THE EXPERT

Carly Hacon is a reporter for Business Advice. She has a BA in journalism from Kingston University, and has previously worked as a features editor for a local newspaper.

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