Want to learn business the new way? Richard Branson is your man...
Richard Branson is the hip founder of Virgin Records. He also seems to have more fun with his business than any other entrepreneur. So what does he do differently? Look for clues in these seven Richard Branson quotes. They'll encourage you to be more creative and resourceful than you ever thought you could be.
Believe in yourself
“A passionate belief in your business and personal objectives can make all the difference between success and failure. If you’re not proud of what you’re doing, why should anybody else be?"
As this quote shows, you need to be your biggest cheerleader. After all, who’s going to follow a leader into a battle if he doesn’t think it can be won? That would be just plain stupid!
A leader’s faith (or lack of it) can and will impact his or her entire crew. Instead, work to embody the traits you expect from your staff. Otherwise, you don’t get to complain when they’re not meeting the mark.
Treat employees well
“By putting the employee first, the customer effectively comes first by default, and in the end, the shareholder comes first by default as well.”
Your employees are your best asset. If you train and treat them well, they’ll be happy to work for you. But if you mistreat or fail to train an employee, they’ll become miserable and you'll never get great work from them.
Most people want to feel proud of their work… but that’s hard to accomplish when you aren’t prepared for the task. To prevent that situation, set up a training program for new hires. so they feel confident in their role and in you.
No one likes to be blindsided by the demands of their new position. You can avoid this by setting up a program that simulates common situations and allows them to practice. This will help ensure that your new employees feel confident on day #1. And when that becomes true, turnover will stop being an issue.
Failure can’t hurt you
“Business opportunities are like buses, there’s always another one coming.”
Your business failed and that's hard, but it isn't the end of the world. Look at all the things you still have. You're alive, you have friends and family, you might even have a house and the possibility of a job. It might not be an ideal situation, but there's worse things that could happen.
Or perhaps no one bought your product. Well, you might wish that you hadn't wasted the money on it, but at least you learned some valuable lessons. And applying them will make your next product launch twice as good.
Richard Branson's quote reminds us to look forward, not back, to accept that we will fail and try anyway. It's a valuable lesson that everyone needs to absorb. Because if you let one failure knock you down, you absolutely won't have the success you dream of.
Know when to delegate
“A good leader doesn’t get stuck behind a desk.”
You can't do it all and you shouldn't try. It’s impossible to be skilled in every aspect of your business and refusing to believe that will just exhaust you. For instance, an accountant may be good at crunching numbers, but what do they know about online marketing?
This Richard Branson quote reminds you to outsource any tasks that don’t play to your strengths. So if you’re an author who stinks at design, why would you create your own book cover? It would make more sense to hire a graphic designer because writers should do what they do best (write!).
If you’re a business owner, the overwhelming majority of your time should be spent on sales. Period. Full stop. End of story. That’s all she wrote. Let your staff deal with invoices, scheduling, and other back-end tasks that don’t require your attention. keep your focus on higher impact activities.
The barriers are broken
“In this digital age, it doesn’t really matter if you are in Canary Wharf or the Caribbean; there are opportunities waiting to be grasped by entrepreneurs.”
The Internet changed business forever. Now, you don’t have to invest thousands of dollars to create a product. Anyone can create and monetize a website with $100 or less.
This means that freelancers have never been so empowered because they aren’t constrained by geographic borders. As long as you have a Wi-Fi connection, you can apply for mobile jobs anywhere in the world.
And if you're a writer, you don't need a publisher anymore. If you have an idea that’s worth spreading, you can create (and distribute) your masterpiece… no agent required! For the first time, you have all of the power. Doesn’t it feel nice?
A good reputation sells itself
“The music industry is a strange combination of having real and intangible assets: pop bands are brand names in themselves, and at a given stage in their careers their name alone can practically guarantee hit records.”
Richard Branson urges you to be so good that people can’t ignore you. This will give you a great reputation, a gift that never stops giving. When you have that, when your work speaks for itself, you’ll never struggle to get a client or customer again.
And don’t forget to tie your brand name into everything you do. People should recall the company or individual who was responsible for their amazing experience. Don’t be shy.
When people begin to associate you and your brand with quality, they’ll become “easy sells.” Why debate about purchasing a new product or service when you’re sure it will be fantastic?
If you’re not having fun, do something else
“Fun is one of the most important -- and underrated -- ingredients in any successful venture. If you’re not having fun, then it’s probably time to call it quits and try something else.”
Business shouldn’t be a mind-numbing activity. Instead, it should feel like a combination of work and play.Unfortunately, in our high pressure society this often isn't the way. But what's the point of working all those hours if you're miserable and thinking only of retirement?
If you’re not enthusiastic about your business, then why in the heck are you running it? Sell it! (Or shut it down and start a better one.) Life is too short for work that depletes you.
The number one thing you can take away from this
If you want advice that's to the point, and obviously works, you can't go past a business giant like Richard Branson. His example, and his success, provides a blueprint that offers a chance at amazing success, as well as a push to enjoy the journey along the way.
How can you apply these business lessons from Richard Branson in your life? Tell us in the comments. If you liked this article, share it with your friends. They'll appreciate the insights.