Richard Branson explains his 4 rules for making difficult decisions
Tony Woolliscroft/Getty
Richard Branson, chairman of Virgin Train's parent company the Virgin Group, writes in his book "The Virgin Way" that he was "stunned and baffled" that he could have lost the bid to the company FirstGroup.
He decided to stay quiet for awhile, meeting with lawyers and advisors to see if Virgin had actually been beaten fairly. Everyone he spoke with seemed to conclude that FirstGroup's numbers were unsustainable, meaning the British government had made a mistake in calculations. Regardless, many of his senior team told Branson that he'd only be wasting his time and hurting his image with a lawsuit. But, after carefully weighing the facts, he decided to move forward with it.
A week before he was scheduled to meet the Department for Transport in the UK's high court, Branson got a phone call from the department's secretary. The secretary told him that on further review, the department had indeed made grave miscalculations and Virgin had offered the better deal.
Branson considers his decision to sue the government, which ultimately saved his rail business, to be one of the best high-stakes decisions he's ever made. In his book he highlights four rules that he's used to make tough decisions like this one throughout his business career, and we've described them below.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- 'Vote and have free butter dosa': Bengaluru eateries do their bit to increase voter turnout
- Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check
- Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499
- 8 Fun things to do in Kasol
- SC rejects pleas seeking cross-verification of votes cast using EVMs with VVPAT
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market