Give over control.
″We are an unusual brand in that most big businesses focus in one area, while Virgin has become a way of life brand.″ Branson explained. He said that he looks for an area of life that needs to be improved, (citing trains and airlines as examples) and then looks for the right people to run it.
I totally agree that when you find and go through the effort to hire the right people you need to let them do what you hired them to do. I often hear well-established professionals state that they are frustrated by boss’s who constantly and consistently micro-manage their efforts. There are many who would be much more effective and efficient if they were given the authority and autonomy to actually do their work. Those people will be the first to come to you and ask for help when they really need it.
Put your employees' happiness first.
To work for his Virgin Group, you have to have the same fun-loving spirit as its founder, who mentioned that he prefers to promote from within. His belief that a happy team makes for a successful business starts with paying attention to all of the details that affect an employee’s work. ″Being a good listener is absolutely critical to being a good leader, ″ he explained, ″you have to listen to the people who are on the front line.″
Paying attention to the wellbeing of your employees can really make or break a company. The ability to actually hear what your people mean, not just hear the words they use, often marks the dividing line between a task master and a great leader. I am fortunate to work in a culture where our needs are heard in the manner where we know we matter to our leader. What about your company? What would your company culture be like if you simply took a single day per month to focus on only the needs of your people? Would those eight hours of time be worth it if your productivity increased significantly as a result of that small investment of time?
Keep your sense of humor when dealing with competition.
When Virgin Airlines was starting out, rival British Airways was intent on putting its startup competitor out of business. ″If you are a small company taking on a big company, you need to have a sense of humor, ″ Branson explained.
I am a true believer that being competitive can be a great deal of fun. While we may not go as far as Sir Richard did in his early days, there are many ways to have good natured fun and successful competition without being totally ruthless. Remember that everything changes and make certain you do not resort to tactics which will make your own company lose face.
What are some of your favorite business approaches that you turn to for inspiration? I would love to hear from you!
The full article can be found here: Inside Richard Branson's Unconventional Business Approach
