
Richard Branson's inspirational advice and business expertise has helped steer and grow many start-ups in a host of different markets and industries.
We hope you enjoy these...
Inexperience as an asset: "Present prospective partners with a fresh take on a tired industry, and you will grab their attention"
Customer Service: "Good customer service begins at the top. If your senior people don't get it, even the strongest links further down the line can become compromised. No company can train its front-end people to handle every situation, but you can strive to create an environment in which they feel at ease 'doing as they would be done by"
Branding: "you may be tempted to create a brand that's very corporate and remote. As a consequence, these brands acquire no texture, no character and no public trust. Whatever you decide your new brand will stand for, deliver on that promise. And beware: Brands always mean something. If you don't define what the brand means, your competitors will"
Leadership: "Rather than focusing on mistakes, a leader needs to catch someone doing something right every day. If this culture of fostering employee development through praise and recognition starts at the top, it will go far toward stamping out the employee fear of failure that can stunt a business, particularly in its early days. When mistakes happen -- which is inevitable -- you have to learn from them, not dwell on what went wrong. It's almost always better not to go over the obvious with the people involved. They know exactly what happened."
Handling success: "When a business does well, many start to focus solely on increasing profits, no matter what the cost -- leaving behind everything that originally made the business special. If you are mulling over an expansion, tell all your employees about your plan – include everyone from the truck driver to your senior team -- and ask for their input. If you can, it would be best to work out the details of the expansion plan together"
Delegating: "Stepping back frees the founder to focus on the bigger picture -- to dive in when there are problems or to help close a deal"
Investors: "When you are evaluating a proposed partnership, do not focus only on the capital you need to kick-start your business...Bear in mind that a dictatorial financial partner can dim the spirit and enthusiasm of a new enterprise, muffling the spark that prompted you to launch this project – the spark that is most likely to make your venture different from your competitors."
Communicating: "Take time to find out what the staff is actually doing on a day-to-day ...Then, ask yourself: What are the employees' working conditions? Do people seem energetic and creative? And ask employees: Do you have the resources you need? If you could, what problems would you fix? What ideas of yours has your manager followed up on? Ensure your staff is consistently encouraged to contact you with ideas and problems"
Taking Risks: "There is little point in entering a new market unless it provides the opportunity to really shake up an industry"
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