Source: trak.in

6 Things Every Entrepreneur Can Learn from Sir Richard Branson

Founder of the Virgin Group. Born to working class parents. Has dyslexia and dropped out of school at age 15 due to poor academics.Only businessman to build 8 billion dollar companies in 8 different sectors

Sir Richard Branson

Richard Branson changed the first class system. He introduced Premium Economy and Upper Class that provides first-class service at Business Class prices. In Virgin Bank, the branches look like living rooms with no queues or teller windows and the customer is instantly put at ease.He says, behind every business, there has to be the frustration of the status quo!

Challenge the Status Quo

Feel passionately about your product before you launch it. Put yourself in the shoes of your customer and ask if you will be thrilled with the product? If the answer is “Yes”, then go with it!He believes focus groups/surveys will help you only so much, but what you deeply and truly believe in will, ultimately work

I Am the Market

He believes in creating businesses that will add value to the lives of people. He uses his name and brand to fund entrepreneurial programs through Branson Centre for Entrepreneurship, and support a number of environmental causes through Virgin Unite.

Create Value and Give Back

His best advice comes from Sir Freddie Laker: “Make sure you appear on the front pages and not the back pages. Get out there and sell yourself. Make a fool of yourself, whatever it takes. Otherwise you won’t survive.”He spends a quarter of his time working on the marketing and publicity stunts.Sir Richard’s PR stunts have earned him the nickname: ‘The King of PR Stunts’!

Stand Out and Be Counted

He believes happy customer can come only from happy employees. Virgin airlines employees learn intricacies of body language and hone their salsa skills, learn to change tires in a race car pit, and prepare their own lunches in a refreshing team building exercise.He believes in hiring the best people to do the job so thatthe company runs smoothly even in his absence.

Employee First, Customer Second, Shareholder Third

Humour, according to Branson, is a huge part of building a business. Making a joke of yourself now and then can keep you grounded and makes it easy for you to face and digest failures.Branson also says that fun is an underrated ingredient and that if you are not having fun doing it, stop and do something else. Why do it if you don’t enjoy it?

Don’t Take Yourself Seriously. Have Fun!