Richard Branson is the Chief Executive Officer (CEO) and founder of the Virgin Group. A company that comprises of more than 400 different companies. He demonstrated great entrepreneurial abilities as a teenager and soon become a proud owner of a student magazine.
Unfortunately, he opted out from school early but luckily this decision helped him start his Virgin Records company in 1972. A journey he pursued steadfastly, which will soon become a blueprint for the business community. And later make him earn his top executive status.
He is well known as an English businessman, highly accomplised and a prolific investor. Born in July 1950, and has succeeded as a man that followed his dreams at tender age, he brings his business experience to bear on all entrepreneurs.
Risk Taking Starts the Journey for Business Success
Richard Branson advises every entrepreneur to have a risk taking mentality. He said from the very onset that you decide to be in business and enroll your first startup, you should be prepared to take risks. Because as Charles Branson puts it, “Every business involves risks taking”.
Branson also urges entrepreneurs to prepare for failure in their quest to succeed. “There will be multitude of failures“, he opines but reveals that failure will not bring an end to your business aspirations. But rather, it provides the opportunity for a candid assessment and most likely a learning period and rebound. Branson is of the view, that if you have an over cautious mentality, you create a negative environment to achieve your business goals.
Work Hard to Attain Your Highest Mark but Understand Perfection is Unattainable
Entrepreneurs could easily be lured to become complacent once they think they have fully arrived. This, Charles Branson says is a business danger and loop hole you must avoid at all times. He advises entrepreneurs not to rest on their laurels since there is always an opportunity to increase profits and further expand innovations or an entire vision.
He said startups and entrepreneurs must understand, that business and entrepreneurship is a continuous race with a great number of people working hard daily to improve on their successes. If you sit back because of what you think you have achieved, you will soon be out-paced.
Improve and Maintain High Business Impression Score
Richard Branson reiterates, that those who will want to do business with you must be impressed with your customer service handlings. He says your first and second impressions are the life lines of your business. Richard Branson observes that your first impression is critical in acquiring your potential customers. But customers contact you the second time most often with problems they may have after service. How you resolve issues affects your brand in building leads and maintaining great customer relations. And your business team must demonstrate competence in customer service.
Richard Branson urges that, in attempt to maintain our customers, we must also win the confidence of our valuable staff. He says your customers will be right most of the time. And your staff and what your organization stands for could equally be right. As an entrepreneur, you should be able to strike a healthy balance in earning the confidence of your workers and also maintaining your high earned customers.
Richard Branson Says Branding Sets the Pace for Success
Brand management shows the way forward for successful businesses. But in order to successfully manage your brand, you must define it. Choosing a business name underscores what your business represents. The business name you choose must have value, represent purpose and must be meaningful to your business. “To us“, he says, “Virgin will always stand for improved service and a new sexy approach with added value”.
Richard Branson encourages entrepreneurs to constantly examine all the indexes that propel their brand. He reveals that, whilst his company, Virgin, has ventured many business territories, it is still focused on one important thing. “We are always finding new ways to make people happy”, he concludes. Richard Branson explains that it is rewarding to stay focused on what you know. And do what you know best. “Don’t over promise but over deliver“, he urges. This concept, Branson believes will grow your customer experience and expectations. And help your business stay ahead of your competition.
Visibility Makes You Stay on Top of Your Game
Richard Branson emphasis that, for the successful businessman, becoming visible both in words and in deed is an uncompromising business value. “Sell yourself“, Branson elaborates, “For you to survive people must know what you are doing right”.
In contrast however, Richard Branson observed that people will challenge some of your ways and opinions. But he believes that, this is also a good thing. Because constructive criticisms counter generates fresh and unique ideas for your limelight business experience.