Business lessons from Richard Branson
The ConSol team – as a result of being named in this year’s Virgin Fast Track Awards – had the pleasure of having dinner at Richard Branson’s house last week. We had a fantastic night – and not just because it meant rubbing shoulders with arguably one of Britain’s most successful entrepreneurs. But rather because of the lessons we took away. So what can business owners learn from Branson?
- For those considering starting a business – particularly in a crowded market – you must ensure your product or service far outweighs the competition. Perhaps this may sound obvious, but you only have to look at failed ventures to see that many falter because they simply don’t have a differentiator. This is exactly why, when we set up ConSol Partners in a saturated recruitment market, we chose a niche.
- Learning the power of delegation is a must. This is perhaps one of the hardest things to do in business – trusting your colleagues to do the job as well as you can. However it is business critical – not only will it motivate your team, but is also frees up your own time to do more.
- Your company’s vision and values should be deeply embedded into each and every employee. They are the foundation of your organisation and your staff should live and breathe them so that each and every person they come into contact with – potential employees, clients – is getting a coherent message about what your business stands for.
- Promoting from within, according to Branson, is also a must. And this is something we have adopted at ConSol. Not only does it help with your attraction and retention strategy, but it also enables a business to mould individuals as they progress through the company ensuring that values and culture remain embedded.
- International business is a must to compete in today’s global economy. Branson, who we all know is a global entity, puts much of his success down to embarking into new territories – something that as a business ConSol has also done to great effect.
- Last but by no means least, have fun and stay healthy. Staying positive, being healthy, and injecting this ethos into your business will mean your staff will be too. And as Branson summed up in his world he has fun all day every day – a statement we can all learn from!