one of the world’s best known and most admired entrepreneurs gives his TOP 10 rules for success

1. Richard Branson
one of the world’s best known and most admired
entrepreneurs gives his TOP 10 rules for success
27 - Apr - 2016

2. New business ventures require vision and
courage to think up new ways of operating
existing businesses, in many different industries.
A concept may seem to far fetched or different
from the standard operating procedures, but
that doesn’t mean its the wrong approach.
Consider the possibilities and directions the idea
may go.
Find the Courage to Try
1

3. Choose managers for various aspects of
businesses, based on experience and
reputation within their respective fields or
specialties. Knowing when to let go and take a
hands off approach to a project requires
patience and wisdom.
Delegate
2

4. Simplifying business models and processes
helps leaders stay on top of progress and
monitor day to day changes or challenges.
Complicated procedures and processes
require more intense monitoring and make
it more difficult for managers to maintain
successful operations.
Keep things simple
3

5. Being a leader means setting the tone for
behavior and how the business is perceived. It
also means setting an example, through ethical
and legal considerations.
Be a leader
4

6. An idea may seem too difficult to conceptualize or
may have several obstacles to implementation.
However, by thinking about all the possibilities and
routes to achieving the objective, there are likely to
be solutions to get past any obstacles.
Don’t give up
5

7. Often, an idea or concept is not a new one, but
simply a different way of competing in a particular
industry. Offering basic services at lower rates,
without the frills or bells and whistles, is one
successful approach as there are always consumers
who want to save money and are willing to utilize
more basic, no frills services.
Shake things up
6

8. Treat people with respect and dignity and they will serve
you well in terms of establishing a positive corporate
culture and getting others to do what is necessary. A
leader can possess power without abusing it.
Getting things done at all costs can result in losing
customers, projecting a negative corporate image, or in
failing to motivate others within the organization.
Treat people well
7

9. Skepticism comes with any new concept or business idea;
different and untried. It often is based on limited
experiences or on fear of competitors becoming
successful. Successful entrepreneurs are able to rise
above the skepticism, to see their ideas through.
Expect skepticism
8

10. This means treating people with respect,
whether they are employees or customers.
Thinking about how business operations
affect customers and people involved
contributes to the company’s positive
corporate image.
Affect lives positively
9

11. Doing things differently means improving processes and
taking chances based on strengths and weaknesses.
Various fare structures, pricing strategies, or marketing
tactics are examples of areas in business that can
benefit from a different approach.
Do things differently
10