Sir Richard Branson

Sir Richard Charles Nicholas Branson

"You do not learn how to walk by following the rules. You learn by doing, and by falling over..."

Biography

Born in Surrey, England, Richard Charles Nicholas Branson struggled with dyslexia throughout his childhood and dropped out of his boarding school at the age of 16. Branson’s first entrepreneurial project was a youth-culture magazine called Student and it sold $8000 worth of advertising in its first edition launched in 1966.

At the age of 19, Branson was living in London and he was surrounded by the British music scene. It was during that time that he conceived the idea to start a mail-order record company called Virgin to fund his magazine. The company performed well enough for Branson to expand his business venture, and he opened a record shop in Oxford Street, London. The record was so successful Branson was able to build a recording studio in Oxfordshire, England and Virgin Music then went on to become one of the top six record companies in the world.

However, in 1992, the Virgin Group was faced with critical financial losses and Branson was forced to sell his company to THORN EMI for $1 billion. Although he was devastated with the loss, Branson’s determination pushed him to start Virgin Radio and another record company, V2.

The Virgin Group now holds more than 200 companies in more than 30 countries and Branson has diversified his businesses to include a train company, a luxury game preserve, a mobile phone company and his most recent venture, Virgin Galactic, which is focused around space tourism.

Achievements

• In the New Years Honours list dated 30 December 1999, Elizabeth II signified her intention to confer the honour of Knight Bachelor on Branson for his "services to entrepreneurship”. He was knighted by Charles, Prince of Wales on 30 March 2000.
• Also in 2000, Branson received the 'Tony Jannus Award' for his accomplishments in commercial air transportation.
• Branson was ranked in 2007’s Time Magazine as one of the "Top 100 Most Influential People in the World".
• On 7 December 2007, Branson was presented with the United Nations Correspondents Association Citizen of the World Award for his support for environmental and humanitarian causes.
• On 14 November 2011, Branson was awarded the ISTA Prize by the International Space Transport Association in The Hague for his pioneering achievements in the development of suborbital transport systems with "Virgin Galactic".
• On 11 February 2012, Branson was honoured with the National Academy of Recording Arts and Sciences' President's Merit Award for his contributions to the music industry.

Leadership Style

Branson is known for his eccentric character and unique leadership styles. He is one who is not afraid to take risks, and strongly believes that people are the foundation to his company’s success. Overall, Branson exhibits a strong democratic leadership approach. Branson values his employees’ constructive suggestions or inputs and listening to what people have to say is a core value to him. He is also known to carry a notebook in his pocket all the time just in case he hears something interesting from an employee or from anyone he interacts with. Branson has stated before that “Virgin Group is an organization driven on informality and information, one that is bottom heavy rather then strangled by top level management” which gives the impression that he listens to his people well below the management level. In other words, employees at all levels are encouraged to share ideas and opinions even though Branson will still ultimately make the final decision. As such, it can be concluded that Branson’s leadership style is democratic to a far extent as all of his employees have a very participative role in business decisions. He is definitely a relationship-oriented leader who is good at aligning people and giving them emotional support and encouragement.

What Makes Him A Good Leader?

Branson always starts out with a vision. He believes that there are industries than can be ‘Virginized’ and he endeavors to expand the Virgin name while maintaining its high standards. As a leader, Branson has a vision of captivating new and challenging future prospects. With his democratic approach, he collaborates with his people to articulate a vision and get them onboard for success.

Branson believes in teamwork. He has gone to great lengths to create a fun working atmosphere so that his people would enjoy being part of the Virgin Group rather than simply a place to earn a pay check. Branson establishes harmony and develops a sense of loyalty in his people by building relationships and showing interest in their needs such as growth and career developments.

Branson has self-awareness. Branson is able to utilize many aspects such as his physical appearance and personality to convey informality and nonconformity that has become a central element of his leadership and Virgin brand. This assists him in skill development, assessing his strengths & weaknesses and developing intuitive decision making skills.

Branson shows high levels of determination and persistence. He is always looking for more goals to achieve and he works hard to attain them. Despite having gone through failed business ventures like Virgin Cola and Virgin Vodka, his determination and persistence to bounce back after such disappointments has made him one of the world’s greatest leaders.

Branson has exceptional communication skills. Apart from professional writing skills, Branson is also an eloquent speaker and good listener. He is able to convey his message in an inspirational manner, and listen to what his people are saying at the same time. Leading a company with divisions in 30 countries has also influenced Branson to be cross-cultural with communication. This means that he is able to communicate well with people from a variety of cultures.

What Is Exemplified By The Individual?

Although his leadership approach may be a little controversial at times, there is no doubt that Branson is an inspiration, and one of today’s legendary leaders. His principles of leadership success are exemplified in the following 13 points:

1. A good leader should be genuinely interested in people and strive to see the best in them.

2. To succeed in business you need to build a great team around you that believe in what you are doing.

3. If you praise people, they flourish.  Always look for a way to praise your team.

4. Leadership requires knowing how to delegate and how to be a good listener.

5. A leader should promote people above what they expect.  This demonstration of trust often causes them to excel.

6. A successful business comes from creating something that makes a difference to other people’s lives.

7. You can identify a gap in the market by asking yourself how you can do what others are already doing – better.

8. Go for quality, make sure you are the best in what you do otherwise it’s pointless.  Create something you can be proud of.

9. Always be prepared for the worst that can happen.  This will help turn adversity into success.

10. Starting a business is tough, but you have to fight for its survival.

11. Don’t treat your bank like your GP, be ready to switch to get the support you need to ensure your business succeeds.

12. There is no point launching a product unless you can get the word out about it.  Free PR is one of the best ways to do this.

13. Get the details right!