A blog about Business, Entrepreneurship, Sales, Self Improvement, and other interesting things

Tuesday, February 27, 2007

Advice from Sir Richard Branson, Founder of Virgin Group

If you've heard Virgin Mobile, Virgin interactive, Virgin Atlantic Airline, Virgin "everything" , you're not alone. The exciting, unique and consistent Virgin Brand has crossed our everyday lives for quite a long time. this is due to the characteristics of the company and its founder. Virgin group is a large business conglomerate that owns some 350 companies across the globe, with a combined $8Billion dollars in sales.

It's founder, Richard Branson, whom was promoted into knighthood by the queen of England a few years back, was a very eccentric man. What made him unique in the world of entrepreneurship is that he has the sheer drive to succeed, but also in the same time to have fun doing it. He has built Virgin from the ground up into a world powerhouse.
Richard Branson's business style has defied many conventional business wisdom that at the time was considered absurd. Here are a few quotes from him taken from the April 2005'S Issue of Inc. Magazine.

  1. "The world is a massively more hospitable place for entrepreneurs than it was 20 years ago. In most industries it is virtually possible to think of the world as one country. All our expansion plans are overseas:China, India... We're really not interested in a new thing unless it can become global."
  2. "Even the smallest, youngest companies should not be frightened to go overseas. The opportunities in the world are immense--China has a growth rate of 9% to 10% a year, and you should go there and participate in it and enjoy it. Enjoy it."
  3. "Lavish praise on people and people will flourish; criticize people and they'll shrivel up."
  4. "Give people a second chance if they screw up. Even people who have stolen from us have become, when given a second chance, incredibly loyal and valued employees. I don't know where I'd be if I hadn't been given second chances."
  5. "If you can run one business well you can run any business. There just needs to be a crying-out need for you to enter the marketplace. The time to go into a business is when it's abysmally run by other people."
  6. "Most of our businesses do succeed, but if something completely fails, then as long as we bow out gracefully and pay off all of our debts, and nobody gets hurt, then I don't think people disrespect Virgin for trying. The public appreciates someone having a go; it appreciates the attempt. Who's been a success in life who hasn't failed?"
  7. "It's important for the company's sake that the chairman not get bored."
  8. "My general philosophy in life is you never really go wrong saying yes."
  9. "I want Virgin to be as well known around the world as Coca-Cola."

As you can see he is a very optimistic man who has charisma, positive self concept, and creativity.
I hope all of us will learn from his experience in building a corporate giant.

Light the passion in you,

Parama

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