Hertz’s CEO was angry about falling behind to United Rentals. “You made me change one of my tag lines. I had the largest car rental company and the largest equipment rental company in the world. And now I’ve got the largest car rental company, and the second largest equipment rental company. I don’t want to be second in anything.” He scolded Brad, “You’re making a mess of it. You’ll screw up the whole industry and go bankrupt!” Brad responded, “Look, you’re smart. And I respect that you know ...

Obscene profits. That was the headline one evening of CBS News in 1979. It was a report on the Iran hostage crisis. Petroleum prices had reached all time highs. Exxon had reported excessive quarterly earnings of over one billion dollars. The words OBSCENE PROFITS flashed across the TV screen of a twenty three year old musician. That young man was Brad Jacobs. “That sounds pretty good,” he thought, “maybe I ought to check out the oil sector.”

Howard Schultz needed to raise $1.25 million. Rejected by 217 potential investors, he raised $600,000 so far. His former partners at Starbucks had invested $150,000 of that. Then, he raised $900,000 in June 1986. Obsessed with the Italian espresso bar experience, he left Starbucks. In 1986, he started Il Giornale. By August of that year, he signed the lease for a second location. For his business plan to pay off, he needed to launch eight espresso bars. Without capital, his plan wasn’t going ...

Instead of charming them, he spooked them. Jerry, Gordon, and Steve feared that Howard would be disruptive. They decided not to hire him. Their rejection devastated Howard. It was a turning point in his life. His heart was set on joining Starbucks. Howard refused to take no for an answer.Last week on Methods of Prosperity. In 1961, Howard Schultz was seven years old. His father lost his job. Howard’s pregnant mother couldn’t work. Without income or savings, the family had to borrow money to m...

In 1961, Howard Shultz was seven years old. His father lost his job. Howard’s pregnant mother couldn’t work. Without income or savings, the family had to borrow money to make ends meet. Howard grew up in Brooklyn’s Bayview Projects. He pursued various jobs from a young age. After high school, he attended Northern Michigan University on a football scholarship.Upon graduation in 1975, he worked at Xerox. There he excelled at selling word processors...

In 1977, British television and radio banned the Sex Pistols’ single, God Save The Queen. It sold 100,000 copies. It’s a critical and rebellious song aimed at the British monarchy and Queen Elizabeth II. The song caused controversy due to its anti-establishment lyrics. Virgin Records released the album that November. Never Mind the Bollocks, Here’s the Sex Pistols was the only studio album from the Sex Pistols. The band imploded.

To put Mike’s mind at ease, Richard offered to take him for a drive in his Bentley. They drove past the Queen Elizabeth Hall when Richard slowed down. There were Mike Oldfield posters everywhere. A crowd of people were making their way to the concert. Richard stopped the car. “Do you want to drive?” he asked. He knew Mike loved that car. “Alright,” Mike agreed. Mike drove Richard’s Bentley further. Then Richard asked, “Would you like to have this car as a present?” “A present?” Mike wondered....

“The music business is a strange combination of having real and intangible assets. Pop bands are brand names in themselves. At different stages in their careers, their name alone can practically guarantee hit records. It’s also an industry where the very few successful bands are very, very rich, and the bulk of bands remain obscure and impoverished. The rock business is a prime example of the most ruthless kind of capitalism.” – Richard Branson, Losing and Finding My Virginity: The Full Story...

Virgin Mail Order faced a crisis with no way to send records or receive payments. Postal workers were on strike. To avoid running out of money in a week, Richard Branson decided to open a physical record shop. He had no experience in running one. He found a location on Oxford Street in London. The building’s owner sold shoes out of the storefront. The owner agreed to provide the upstairs space for free. The arrangement would attract customers for both businesses. Within days, Virgin’s first reco

Starting your own airline can be a challenge. This would be his “what if I could” moment. The airport terminal was full of stranded passengers. Sir Richard Charles Nicholas Branson was one of them. His lover was waiting for him. Making a few calls to charter companies, one of them agreed to take him to the British Virgin Islands. It would cost him £2,000. He divided the price by the number of seats on the plane. Then he made a sign that read, “Virgin Airways $39 single flight”...