The Richard Branson Virgin Group, established by British entrepreneur Sir Richard Branson, runs as a cluster of separate and distinct companies that come together under the Virgin brand. He often simply licenses the brand name to other outside companies with revenues in excess of $7 billion and more than 35,000 employees. We’ll share Richard Branson’s Business Lessons:
Lesson 1: Be A Good Leader.
Treating his employees as important team players is important to the success of Branson’s Virgin Empires- putting employees first, customers second, and shareholders third.
Lesson 2: Build A Powerful Brand.
Richard Branson expands his brand so effectively by diversifying his portfolio. He said if he gets his face and his name out there enough, people will start to recognize him. Many people know the Virgin brand better than the names of the individual companies within the group.
Lesson 3: Keep Flying High.
Richard Branson says if he is trying to do something for the first time, it’s always an enormous challenge, and there is no guarantee of success. He never knows with these things when he’s trying something new. This is all experimental. When entrepreneurs are not afraid to keep on going, they will get the reward soon.
Lesson 4: Break Records.
Breaking records is in man’s nature to continue to strive to do, Branson said. Not only be the best at whatever he is doing, but that he does it in a unique way. I’ll give you a sample. Branson launched Virgin Cola in 1994, he drove a tank up to the Coke sign in Times Square. He didn’t want to just find success, but he wanted to do it in an original way. He set his sights on the impossible and made it possible.
Lesson 5: Have Fun.
Branson takes great effort to ensure his employees are enjoying themselves at Virgin. He regularly writes his staff letters to tell them what is going on and he encourages them to send him their own ideas. He also insists on having time to enjoy with his staff outside of work.