Richard Branson’s story is the one that’s been told several times. It’s a tale worth fawning over; a rags-to-riches tale that gives many hope as they try and develop their own flagship brand.
The biggest reason for Richard Branson’s success is because of customer service. B2C companies, like Virgin America and Virgin Records are the most famous companies of all. Branson has said, “Simplicity and good customer service will win every time’.
1. Leave it if you don't enjoy it.
A lot of blood, sweat, and tears (and caffeine) makes a business successful. Branson said in a press interview, " When I started Virgin from a basement in west London, there was no great plan or strategy. I didn't set out to build a business empire ... For me, building a business is all about doing something to be proud of, bringing talented people together and creating something that's going to make a real difference to other people's lives."
2. Build a great team around you.
If you want to be successful, never forget to build a great team around you and reward them for their hard work. Understand what incentivizes and motivates your teammates. This is one of the most important skills an entrepreneur must have.
3. Take pride in your work
I enjoyed this year’s Virgin Stars Awards, where we celebrated some of those people who have gone the extra mile for us around the Virgin world. Many different companies, nationalities and personalities were there under one roof and it was very interesting to see what qualities they all have in common. The most important trait they all had was pride in their work and in the company they represent. You should always focus on helping your staff and take pride in them. In return they will shine through in how they treat your customers.
4. Take Risks
“The brave may not live forever, but the cautious do not live at all!” This is one of Sir Richard Branson’s favorite sayings. What I loved about him, was his ability to take risks to save the business he believed in.
He did whatever it took to save the company, and even mortgaged his own house. Virgin Records was sold to get the financing needed to keep the airline business alive. It was a hard decision for him but a right one (I guess). If I had to point out one thing that he does not lack, it’s guts.
Now I am not telling you to put your life at risk, but you should take risks and chances in what you believe. You are the one to determine what your business means to you and what it can become.
Just hold a vision and assess whether the risk is worth the return and if there is a chance that it might be... Go for it!
5. Think Simple
Your enemy is complexity. Only a fool will make things complicated. But It is hard to make something simple.I know it’s hard not to overdo things, when you’re still starting out. It is just because you want to make everything right, and you always tend to do things in a more complex way. The best way to solve business problems is to think simple (sometimes).
If you overthink and make things complicated you’ll only put pressure and tire yourself. When you face a challenge, calm down and analyze the situation thoroughly and then decide if it is a source of worry or not.
Think objectively and always have a game plan!