When Matthew and Adam Toren bought a struggling pool hall, the brothers didn’t know much about the game of billiards or about running a business. But after accepting substantial risk, they turned the business around and began to see success. Throughout their entrepreneurial journey, they’ve looked to business mogul Richard Branson for tips on starting businesses, staying profitable and giving back to society. Matthew has found living in the moment and having fun to be two important lessons.
What’s the Big Idea?
Besides having a good time running a business, the Toren brothers saw how Branson used his skills as an entrepreneur to contribute to society. It’s a lesson they’ve taken to heart by authoring children’s books and making speaking engagements at youth organizations. They say that generosity had an unexpected reward: It made them feel better as businessmen and individuals. The most important lesson Branson has given Matthew, which he considers the key to success, is to never consider defeat as an option.