What lessons can we learn from Richard Branson’s approach to business?
Richard Branson is an individual that many modern day entrepreneurs hope to emulate. His personal charisma and the success of his many different businesses have created a brand that is known across the world. In today’s article, we look at five top lessons that this entrepreneur and individual can teach us about how to be successful in both your personal and professional life.
- Look after your employees
Richard Branson is a huge advocate of employee wellbeing. He has spoken openly on the topic on many occasions, and believes that looking after his employees has been a major factor to his success. Looking after the health and happiness of your staff reduces employee turnover and helps cement loyalty to your brand and firm. Within Virgin, they have introduced, as one example, flexible working hours. He also allows employees to work from home, and believes that imposing a one size fits all policy across your workforce is a huge impediment to success. Each member of staff has a unique set of circumstances, which an employer should take the time to understand.
You should also consider employee wellbeing within the working environment. You work environment should be positive and productive. Ideas for ensuring a happy culture exists could include running a corporate fitness programme. This aids team bonding, lifts group morale and will demonstrate to your employees that you are considering their health and fitness needs.
- Pick employees with personality
Richard Branson believes you should choose employees based on their personality rather than their academics. Selecting the right team can make or break your company so rather than quizzing them on their grades, he believes you should consider how well they fit into your company and its culture. This is the key to hiring the right individuals.
- Have fun and demonstrate passion
In order to make your company a fun and exciting place to work, you need to demonstrate this at the top, as a business leader, and allow the effects to trickle down. If you aren’t enjoying your role as the head of the company or are no longer passionate about what your company does, then this will be instantly evident and the effects can be incredibly demoralising for you entire workforce.
- Don’t neglect your personal life
Richard Branson has very openly spoken about Necker Island. His private Island where he resides with his family and spends much of his time. He believes that you should always separate time for your personal life and family. After all, the reason any of us work so hard – is to enjoy life to its fullest with your loved ones. This is what will be left when you retire, so make sure you nurture these relationships.
- Learn to delegate
Be honest with yourself about what you are good at and where you tend to underperform. In Branson’s own words, in order to be an entrepreneur: ‘Find people who are better than you to run the companies on a day-to-day basis, freeing yourself up to think about the bigger picture.’ This is quite a humbling quote and shows the Richard Branson clearly knows his skillset and works to his strengths.