When Richard Branson sees an industry margins change so it is barely profitable he gets out.Â He got out on ethanol.Â His algae based fuels have a much better chance of being profitable.Â Algae can be grow in huge vats and it is very easy to grow.
What business are you in that you should bail out of?Â What should you expand into?
British entrepreneur Richard Branson has unloaded a company that’s building two ethanol plants in the U.S., including one near Fort Wayne.
In an interview with Fortune magazine during the peak of ethanol optimism in early 2006, Branson said industry profit margins were running at about 30 percent. Fuel is a necessity and it should be a good industry,â€ he said.
Since then, corn has roughly doubled in price and the margins aren’t so good.