5 Secrets to Business Success

As a small business owner you are always looking for successful entrepreneurs secrets to success. I have found an article where Richard Branson, owner of the Virgin Group, has shared some of his secrets for business success.

If you want to successfully build your business here are 5 great pointers.

1. Enjoy what you are doing

Starting a business is a huge amount of hard work, requiring a great deal of time. You had better enjoy it.  Building a business is all about doing something to be proud of, bringing talented people together and creating something that’s going to make a real difference to other people’s lives.

A businesswoman or a businessman is not unlike an artist. What you have when you start a company is a blank canvas; you have to fill it. Just as a good artist has to get every single detail right on that canvas, a businessman or businesswoman has to get every single little thing right when first setting up in business in order to succeed. However, unlike a work of art, the business is never finished. It constantly evolves.

2. Create something that stands out

Whether you have a product, a service or a brand, it is not easy to start a company and to survive and thrive in the modern world. In fact, you’ve got to do something radically different to make a mark today. Shook up a sector by doing something that hadn’t ever been done and by continually innovating.

3. Create something that all employees are proud of

Businesses generally consist of a group of people, and they are your biggest assets.

4. Be a good leader

As a leader you have to be a really good listener. You need to know your own mind but there is no point in imposing your views on others without some debate. No one has a monopoly on good ideas or good advice.

Get out there, listen to people, draw people out and learn from them. As a leader you’ve also got to be extremely good at praising people. Never openly criticize people; never lose your temper, and always lavish praise on your colleagues for a job well done.

5. Be visible

A good leader does not get stuck behind a desk. Richard Branson never worked in an office, but always from home. He travels often and always have a notebook in his back pocket to jot down questions, concerns or good ideas. By meeting your workers or customers you will always hear good suggestions or ideas.  By writing them down,  he remembers all ideas.

When people had a problem, make sure that you get their names, get their e-mail addresses, and make sure the next day that you respond to them. Appoint managing directors who have the same philosophy. That way you can run a large group of companies in the same way a small business owner runs a family business – keeping it responsive and friendly.

Reflecting from 40 years in business, these are the philosophies that made Richard Branson the successful entrepreneur that he is. I am sure these gold nuggets can be followed in our own business to achieve success in the longer term. Please comment and share your secrets to make your own business successful.

I have read Richard Branson’s auto-biography and I happen to know that he is also an adventurer with a big appetite for risk.