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Opinions expressed by Entrepreneur contributors are their own.


When he was just 14 years old, , the billionaire entrepreneur, launched his : Student magazine. At the , Branson wanted to create an alternative to his school newspaper, which he thought was “stale.” In reflecting back, Branson said, “I wanted to be an editor or a journalist, I wasn’t really interested in being an entrepreneur, but I soon found I had to become an entrepreneur in order to keep my magazine going.” Branson went on to start the Virgin empire and has launched hundreds of companies under the brand. 

One of the most common reasons that most people contemplate launching their own company is because they are not in with their work. While Branson has certainly amassed wealth throughout his life, he repeats often that his focus has always been creating new businesses that he is passionate about. Branson’s passion is to go into industries, shake them up and do things better.

Does this resonate with you? Do you want to be fully engaged in your work?

Ten years ago, I was a fixed income portfolio manager at

Consumer spending tumbled a record 16.4% in April as the backbone of the U.S. economy retrenched amid the coronavirus pandemic, according to a government report Friday.

Economists surveyed by Dow Jones expected the advanced retail sales number to fall 12.3% after March’s reported 8.3% dive already had set a record for data going back to 1992. The March numbers were revised to be not as bad as the 8.7% initially reported.

Some 68% of the nation’s $21.5 trillion economy comes from personal consumption expenditures, which tumbled 7.6% in the first quarter just as social distancing measures aimed at containing the coronavirus began to take effect.

Friday’s data showed that the slowdown continued into the first part of the second quarter as layoffs began to mount and consumers went into lockdown.

Total spending amounted to $403.9 billion, with the biggest factor in the downturn being a collapse in clothing and accessories that amounted to an 89.3% fall from the same period a year ago. Retail trade overall saw a 15.1% drop from March and a 17.8% slide from April 2019.

The retail industry, particularly brick and mortar stores, already had been in a state of peril, and the coronavirus measures have

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© 2020 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy (Your California Privacy Rights) | CCPA Do Not Sell My Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html.
S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions. | EU Data Subject Requests

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