Richard Branson, founder of Virgin Group and one of the most recognizable billionaires in the world today, with his net worth estimated to be a little above $5 Billion, started his first venture at 16, a magazine called Student.
Having struggled with dyslexia which resulted in him dropping out of high school, Branson still went on to becoming one of the greatest entrepreneurs of our time, establishing eight billion-dollar companies in eight different industries.
"Had I pursued my education long enough to learn all the conventional dos and don'ts of starting a business I often wonder how different my life and career might have been," says Branson in one of his books, Like a Virgin: Secrets They Won’t Teach You at Business School.
From Virgin Atlantic Airways, to Virgin Mobile, Virgin drinks, Virgin Cars, Virgin Books etc., Branson has always been consistent in the game with no turning back.
“Success in one area tended to lead to success in other fields, and so it has been sustained,” Branson says. “We built up an extensive network of relationships, and now entrepreneurs and companies often approach us with ideas for partnerships that will help them to start a new business, or to attract new customers.”
However, one puzzling question is how he has been able to attain his level of success and also sustain the growth over the decades, with the ever changing business terrain.
"No two successful entrepreneurs are the same," Branson writes on his blog. "In fact, it's their individuality and different ways of thinking that make them successful."
Let’s share some of Branson’s “individual” business secrets that brings about his tremendous success in his many ventures:
An age-long saying easily comes to mind here.
“Show me your friends and I would tell you who you are.”
Successful people carefully select who they surround themselves with, people who constantly challenge them by their own personal feats.
“As a teenager, I thought that with the right bunch of people anything was possible,” Branson says. “I learned that if I flanked myself with people that complemented my weaknesses and shared my passions, I could work with them towards greater achievements.”
Finding right people is not as hard as you may have been led to believe. Just look around you-it could even be within your organization-and seek out people who have achieved goals you aim to attain. If they are not within easy reach, find a way to get a hold on them. Its 2017. There’s a plethora of social media platforms available to help you with this.
2. Don’t be rigid.
Fun and work shouldn’t be an example of words and opposites however this is the case in plenty organization, with the employers failing to realize that if their staff have fun while working, their output would be better.
Branson is one CEO who ensures that his employees work in an environment that is fun and mentally stimulating, such that they are not over stressed or stretched. He once visited one of their offices in Sydney to find an employee napping and he took a hilarious photo. While we aren’t advocating staff sleeping on duty, it is essential to create a relaxed atmosphere for your staff such that the thought of even stretching up for a walk would not cause a mild panic attack.
3. Build a Solid Brand
Branding is everything!
Who are you and what does your company stand for? Ensure that your vision for the company is encompassed around your brand.
“Our marketing team has defined our brand purpose with this pithy one-liner: ‘Don’t just play the game, change it for good,” Richard says.
From the CEO to the youngest high school intern, everyone should be on board with the message your brand projects and have all hands on deck to push it to fruition.
4. Learn to Negotiate
Over the years, Branson has been able to hone his negotiation skills and even though you may not have as much experience as Branson, you can start today. Never take no for an answer and always find a way around every difficulty or challenge to attaining your goals.
However, turn on your charm and not flattery. Pure charm may win you some solid deals and help you to disarm the competitors and other opposition standing in your path to success.
5. Remain Customer-centric
As you get famous, remain relatable. As your company grows in its leaps and bounds, ensure that you are still accessible and communicable enough for customer’s feedback.
Branson’s is famous for this as he has been known to approach his customers with a pen and paper in hand, asking questions about their services and how to serve them better and more.
Listen to your customer’s complaints and criticisms. Apologise, but don’t just stop there. Ensure you return to the drawing board and effect changes going forward.
While over the years, Branson has of course experienced failures on many levels and even got criticized for his different business interests, but that didn’t stop him. His tenacity and drive has today earned Virgin’s success in eight businesses in eight completely different sectors, with grossing values of more than $1billion.
So what is Branson’s strongest driving point for success?
Relationship.
“Consider the importance of what seems to be the final magic ingredient: since we started Virgin over 40 years ago with such strong personal relationships, we have always also had close ties with our customers”, says Branson.
In simple words, don’t burn bridges. Keep your relationships alive, strong and personal. Whether you get as big as the world itself or remain as small as a village, keep being relatable and stick to the personal touches that endeared your customers to you in the beginning. If Branson can adhere to this principle even as CEO of one of the world’s biggest groups, you can.