TASK A : FAILURE IS AN OPTION

Failure is an option : Sir Richard Branson

When the person enters to entrepreneur world, he often exposed to the risk of failure. It no doubt its feel hurt when we experience failure. Failure is an option is the powerful word that embraces us. Basically, every entrepreneur have their failure experiences. However, they should to set their minds that sometimes facing a failure can become a positive way as they know they are taking a risk when start a business. He is best known as a founder of Virgin group that involves almost 400 companies. Sir Richard Branson an entrepreneur that believe failure is always an option. People see him as a successful business entrepreneur, but thereality before his success, he also made many mistakes and even had lost millions investing in pubs, shops and film production. Sir Richard’s bankers revolted because be handcuffed by debt, they threaten him either sell an asset or declare bankruptcy, however Sir Richard not easily deterred, he turned to the independent controllers of his offshore trust by persuading them to provide the necessary guarantees to obtain loans from the Scotiabank. He knows when a failure comes it times to start again.

He once said, “Failure and rejection are an inevitable part of business, and how you deal with them will ultimately affect your success” The inspiring statement shows how he reacts towards failure. Although the Virgin group are the one successful companies in the world, yet still face some failure. Every time the companies fail in reaching their goals on their business plan, they looked the effect from positive aspect where they try to see what’s wrong with their strategies and learn from it to avoid a same mistake. He also stresses that when a person running a company, we surround with a group of people and compliment can affect around us. Sir Richard knows how to struggle with a risk in the business world so it is important to set in his mind failure and rejection can be cope as well practised from time to time.

Failure is worthy things, when organized a business, we can gain a lot advantages than people who are not risk taker. Looking at Sir Richard life, we know he already success in doing multi-purpose of his business networked. In reality, every one of us faces a failure include a successful entrepreneur. When the time passes, we will realize failure is not negative effect as it encourage a person to better in forthcoming.