6 Business Lessons I Learned From Richard Branson on Necker Island

A few weeks before I recorded this video, I was invited with a group of female online entrepreneurs to Necker Island. We spent a few days close to Richard Branson and his home. Yes, he actually lives on the island. It was my second time there in 18 months. My first trip was planned 2 years prior but due to Covid it only happened 2 years later. This second trip was planned 1 year in advance. I came home with 6 lessons and a bonus.

1. Have More Fun

The first thing you notice on Necker Island is the joy. Richard Branson comes to the dock himself to greet you, a group of women he has maybe never met. Everyone who works there is full of joy, and so is he.

Every day I was reminded that I should have more fun. If you are not enjoying your life and business, stop and figure out how you can have more fun. Fun is not only for hobbies. Your job or your business is where you spend most of your time, so it has to be fun too. Every day, not just on holidays.

2. Make Health a Priority

Richard Branson spends several hours a day on his health, and he has done it for a very long time. He did not start after he turned 70. He often combines it with meeting people, like playing tennis with a business partner.

He wakes up very early, checks his emails and then goes for a hike. He invited us on one of those hikes. There was a short one and a long one. I picked the short one, because I am not so fit myself.

I live with a long-term illness. I can still work on my health within my own limits, and so can you. I already train 3 times a week with my personal trainer, and I have a daily walk blocked in my calendar. Do I walk every day? No. But I am taking it more seriously now. I take the stairs instead of the elevator. All these little pieces matter.

3. Take Bold Decisions, but Protect the Downside

Richard Branson takes business decisions that look very risky. But he protects the downside. He talks about this in his latest audiobook, which he reads himself. It is 27 hours long and I highly recommend it.

What does protecting the downside mean? Founding a company instead of running your business under your own name is one example. If something goes wrong, you do not lose all your personal assets. It can also mean getting a business partner, or making sure you always keep the minimum you need to live on.

I think I can take much bolder decisions in my life and business. And I do not think we as women are thinking big enough. Why is it always the men who take the big jumps? You do not need to found the next Google to take a bold decision. What is a bold decision for you right now? What have you been hesitating to do?

4. Build Your Next Venture From Frustration

I do not think you should have only one business your whole life. I have now founded my third company, and I have invested in 3 companies. I want to found and invest in more.

Your best business ideas come when you are truly frustrated about something and decide to do something about it. They do not fall from the sky on a walk or in the shower. I tried that, and it did not work.

One of the best decisions in my business came from frustration. I was frustrated that my students were not taking action. I was frustrated with myself, because I was not giving them the right support. So I completely changed the way I teach, and SOMBA Kickstart was the result. It is my signature program where you create a course and start to make sales online. Close to 4,000 students have gone through it, with a 90% completion rate. That only happened because I was frustrated.

So what are you frustrated about? Is there a business idea there?

5. Do It Better Than Anybody Else

Maybe you hold back because someone else is already doing what you want to do. That is okay. Most of the businesses Richard Branson owns do exactly what other businesses already did. He has a cruise company, an airline, hotels, fitness centres and a bank.

He goes in and asks what annoys people about that business. What annoys people on a cruise? He was told it is the screaming children running around. So he started a cruise company only for adults. You have to be 18.

You can absolutely build a business that does the same thing as someone else. Find out what frustrates people and how you can do it better than anybody else. You will not be the best on day 1. I created SOMBA Kickstart in 2018, and it has become better every year since. Your first version will not be the best, but if you keep making it better, it will be amazing.

6. Do Work That Makes a Difference

Spend your life doing something where you think you can make a difference. This is true for life, but I take it as a business lesson.

I am passionate about accelerating gender equality through female entrepreneurship. I make a difference by watching female entrepreneurs (and a few good men) create their first and next online course in SOMBA Kickstart and start to make sales online. Years later I see them grow their businesses to 6 and 7 figures, and years after that I see the impact they make. It is so rewarding.

Bonus: Build a Profitable Business Before You Go for Impact

As women, we need to build sustainable and profitable businesses before we think about massive impact. The mistake I see women make is thinking about impact very early. Giving to charity, starting a nonprofit, helping as many people as possible, keeping prices low.

Lower prices do not attract more clients. Most likely you will have less impact if you start with that attitude. Help the people who want to be helped and want to pay for it. Build a sustainable and profitable business first. Then you can have impact.

I heard Richard Branson say this on both visits. Build the profitable business first, then start your nonprofit if that is your wish. If you try to have the impact from the first day, your business will never be sustainable and profitable.

I believe we can all live more fun, healthy and prosperous lives. Which lesson do you take away?