Sir Richard Branson is a great guy. He went from being a young middle class English dude to being a huge entrepreneur, being knighted, changing industries, the world even. I read his autobiography a few years back and the one thing that stuck with me was his philosophy on growing his business. I found it so intriguing that I use it for my own stock trading and business development. I think it’ll help you too.
Dick was in a bit of a pickle. He had sold Virgin Music to concentrate of Virgin Atlantic Airways, and British Airways were right on his back. His planes had become a bit older and he wanted to keep his superior experience advantage by adding the new flat TVs to each chair, which BA didn’t have. He went to the bank to try to borrow a huge amount that I don’t remember, let’s say a $200 million dollar loan to upgrade the planes, and the bank replied “computer says no.”
We all know that Sir Richard doesn’t stop at anything or take no for an answer, so he went back and asked for a loan for $1 billion to buy entirely new planes! At that point “computer says yes.” He got his loan and grew his company.
My main point is that we need to emulate the wealthy. The traditional approach to debt is to cut everything and pay it down, while living on cat food and playing scrabble for ten years. That is what all of the financial guru’s will tell you. Sir Richard wouldn’t do that. He would ask himself, “how can I get those TVs and come out ahead again?”. So ask yourself “How can I pay off my debt and still live my life?”
Here is what I got off the top of my head – what do you come up with?
1. Do something that you love to make more money.
2. Ask for more money from work.
3. Get a head hunter to get me a new higher paying job.
4. Learn to blog and sell advertising space like me!
Grow your way out of your financial problems and win big! Living on a restricted budget won’t help you live your best life.
Keep Loving Your Money Like Sir Dick,
Dave
