Richard Branson started his record business from the crypt of a church where he ran The Student magazine. Branson advertised popular records in The Student and it was an overnight success.[12] Trading under the name "Virgin", he sold records for considerably less than the "High Street" outlets, especially the chain W. H. Smith. Branson once said, "There is no point in starting your own business unless you do it out of a sense of frustration." The name "Virgin" was suggested by one of Branson's early employees because they were all new at business.[13] At the time, many products were sold under restrictive marketing agreements that limited discounting, despite efforts in the 1950s and 1960s to limit so-called resale price maintenance.[14]