More Richard Branson Thoughts on Entrepreneurship

I’m continuing to read the Richard Branson book Business Stripped Bare and am nearing the end. For me, I usually only read a few chapters (e.g. the first, last, and skim the middle) in a book before moving on to the next one (usually several books a month). Here are a few more pieces of information that caught my attention (text verbatim from the book):

• Virgin’s normal rate of return in business around 30 per cent [what’s your target rate of return for your business?]
• This is the point at which entrepreneurial functions become separated from management functions…Suddenly, innovating is seen as something extra, something special, something separated from the activities the company normally engages in.
• Virgin’s management style is unique, designed to both empower employees and avoid a culture of fear.
• …there is a fundamental difference between an entrepreneur and a manager…Although I’m sure there are entrepreneurs who could make good managers, my advice would be: don’t try to do both…Entrepreneurs have the dynamism to get something started…Yet an entrepreneur is not necessarily good at the nuts and bolts of running a business.

Richard Branson ranks up there as one of the most influential entrepreneurs ever, and I enjoy reading his thoughts.