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In 1984, Branson was going to Puerto Rico to see his to-be wife when his flight was cancelled. He was so upset about the customer service that he chartered a plane to Puerto Rico.
After hearing how much it would cost and the number of people that needed a flight, He picked up a blackboard and wrote: Virgin Airways: $39/person to Puerto Rico. He filled up the plane with the stranded passengers, made some money, and he left that same night.
He knew he was onto something, after his trip he picked up his phone called Boeing the airplane manufacturer to see if they had any 747’s for sale. He didn’t have a few hundred million dollars laying around so he made a creative offer to Boeing.
He said let me borrow some your planes for a couple of years, so I can see if I can run an airline business works for me. I will pay you rent if I make money and If my business takes off, then I will buy the planes. But if I’m not making money, I’ll just give you the planes back and I won’t owe you anything. Boeing looked at this young entrepreneur, who didn’t have a whole lot of money, and instead of laughing and hanging up the phone, they agreed. That’s when Virgin Atlantic was born and that same year they laughed that same year with flights from London to New York as the high-quality, luxury airlines. Now, about 20 years later, Virgin Atlantic employs over 10k people and has revenue of over 3 billion dollars a year. Not only is he a good problem solver, he is also a good negotiator. He visited Necker Island in the Caribbean and fell in love with it. When he heard the owner of the island was having financial difficulties and was selling it for 4.5 million dollars. Branson had to have so he made an offer, for $175,000, The owners laughed and said we won’t a dollar less than $180k – a 96% discount, and Branson quickly agreed.
This Video: https://youtu.be/nLg78MyOaFM
Based in Detroit. #Punjab
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DISCLAIMER CONT’D: I’m just a random guy on YouTube – do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.