WEconomy

“If you embed purpose in the very DNA of your business, the rewards can be invaluable.”

Part Two: Chapter 4Purpose 101

By Holly Branson

“Even if we launch Virgin Sport and it doesn't make any money— it really doesn't matter.”

“I don't understand what you mean, Richard.? Why would we launch a business and not care if it makes money or not!? No offense, but that doesn't make business sense.”

This is an actual conversation between my husband and my dad in South Africa a couple of years ago. They had just competed in Cape Town Cycle Tour, the largest timed cycling event in the world. Dad and Freddie had an amazing few days cycling hard, more than 100 kilometers through mountainous Cape Town, and the rest of the family joined them to cheer them on.

Freddie was buzzing; he's always loved sports, and is always training for something—the next Strive Challenge, the next triathlon. He has the bug, big time! He'd often wondered why Virgin didn't have a business under our Health and Wellness arm to put on these incredible events. Surely they were huge moneymakers. Having come from a suit-and-tie job in the financial heart of London, Freddie was still coming to terms with how to do business the Virgin way, which is much less rigid and formal. So when he discussed his idea with Dad, he was shocked by the response. Freddie tells it better than I can:

“Richard said: ‘Don't make it about ...