Richard Branson: Billionaire recalls the rule he set himself before launching business

With the 1971 postal strike threatening the future of his business, the entrepreneur adapted and thrived.

On the strike, he said: “That was a bit disturbing, because all our income was then coming from the mail order company. And with an eight-week postal strike we faced going out of business.

“We headed off down Oxford Street one day and went into various shops, and ended up in a shoe shop.

“I walked upstairs and saw they had an empty space and went up to the manager and said, ‘How about letting us have that space for a record shop? You’ll sell lots of shoes, and we’ll sell lots of records.’

“He said yes and about a week or two later, we opened our first record shop, and we sold a lot of records.”

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