SIR Richard Branson

Sir Richard Branson

Born: Richard Charles Nicholas Branson 18 July 1950 (age 62) Blackheath, London, England, UK Residence: London, England Occupation: Founder and Chairman of Virgin Group Years active: 1966present Net worth: $4.2 billion (2011) Title: Sir Spouse(s): Joan Templeman Children: 2 daughters (1 deceased), 1 son

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SIR Richard Branson

ABOUT RICHARD BRANSON

Branson is an English business magnate, best known as the founder and chairman of Virgin Group of more than 400 companies. Sir Richard Branson struggled in school and dropped out at age 15, a decision that ultimately lead to the creation of Virgin Records. His entrepreneurial projects started in the music industry and expanded into other sectors making Branson a billionaire. His first business venture was a magazine called Student at the age of 16. In 1970, he set up an audio-record mail-order business. In 1972, he opened a chain of record stores, Virgin Records, later known as Virgin Megastores. Branson's Virgin brand grew rapidly during the 1980s, as he set up Virgin Atlantic Airways and expanded the Virgin Records music label. Branson is the 4th richest citizen of the United Kingdom, according to

the Forbes 2011 list of billionaires, with an estimated net worth of US$4.2 billion. Branson formed Virgin Atlantic Airways in 1984, launched Virgin Mobile in 1999, Virgin Blue in Australia (now named Virgin Australia) in 2000. He was 9th in the Sunday Times Rich List 2006, worth just over 3 billion. Branson wrote in his autobiography of the decision to start an airline: My interest in life comes from setting myself huge, apparently unachievable challenges and trying to rise above them...from the perspective of wanting to live life to the full, I felt that I had to attempt it.

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SIR Richard Branson

ACHIEVEMENTS OF RECHARD BRANSON

Entrepreneur Richard Branson is the founder and chairman of the Virgin Group of Companies, a global publishing, retailing, aviation and entertainment conglomerate based in London, England. Branson is the flamboyant pop-music tycoon who started his empire and $1 billion personal fortune from scratch when he was 15 years old. He built his business during one of Britain's darkest economic hours. That is an amazing feat and a favorite among the many achievements of Richard Branson. Mr. Branson found his first success selling discount records and then expanded the business into one of the world's hottest record companies. He signed an impressive artistic roster, including Phil Collins, Peter Gabriel, Steve Winwood, Paula Abdul, Janet Jackson, and the Rolling Stones, Impressive indeed. He later created the successful Virgin Atlantic Airways and became an international celebrity when he co-piloted the largest hot-air balloon ever built on an historic transatlantic voyage. This "multi-millionaire turned folk hero" recently sold his Virgin Music Group for a head turning $973 million, the highest price ever paid for a privately-held record company. Richard Branson was selected in a poll of British youth as the third most popular individual in the world after Prince Charles and the Pope. That is pretty impressive. Let's not forget Necker Island; Branson's own private island. Seventy two acres of exotic beauty and fun in the British Virgin Islands.

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SIR Richard Branson

LEADERSHIP STYLE

You cant be a good leader if you dont genuinely like people is Sir Richard Bransons own words on how he defines good leadership and management style. He is coming forward as a very humble, friendly and down-to-earth human being, judging from several of television and newspaper interviews given. He has constantly acted in a way that has kept him out of the bad limelight. Sir Richards leadership style and characteristics are based on some very simple and down-to-earth rules:

Smile, everything gets much easier if you show a friendly face Have fun at work Believe in your ideas, employees and colleagues

Richards parents taught him from early years to stand on his own two fee t. His own examples of actions that have formed him are mainly two. The first time was at the age of six when his mother shoved him out of the car and told him to find his own way home. The second example was when he as a 10 year old boy was put on a bike to ride for 300 miles. The lessons told him about endurance and leadership qualities. Sir Richard believes that he has learned his management skills through trial and error since founding his first business at the age of 16. Bransons main efforts during his day are put into effective time management. He divides his days equally between trouble shooting, new projects and promoting his businesses. He is considered being a genius at handling and preparing PR activities and is never afraid of being in the front line of it, to bring maximum momentum to the PR event. Another developed skill is the possibility of delegating work to his colleagues and management staff and taking a step back. He spends a lot of time in the early days of a new business, drawing the big picture and helping the management setting the business
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SIR Richard Branson plan and the way forward. When this is done he takes a step back and lets the management get a stake in the business and drive it forward. The company must be set up so that it can continue without me. Sir Richard is very thorough in hiring the right people. He is known for bringing in good managers and getting them to stay. If they dont perform at an existing assignment he brings them into another venture where the person is more likely to perform according to his capabilities. Look for the best and youll get the best, is his words. Firing people is seldom an option to Sir Richard. To manage the colossal amount of companies within the Virgin group, that at the same time are very autonomous, Virgin has formed Virgin Management Ltd. This is a central company and organization to assist the different daughter companies in their daily choirs of running the business. Top three leadership tips by Richard Branson Bransons first chunk of advice is to find good people and listen to them. Assemble a great management team that has a vision, passion and a real sense of ownership, he says. Look for leaders who listen - both to employees and customers, adding further that what results in brilliant customer service and innovative product development are leaders who seek the feedback of their employees and customers. When things start going wrong, its often because staff members feel they are being ignored and good ideas are not bubbling to the top, he s ays, explaining that the best CEOs are not concerned with the size of their office or the thickness of the carpet, and instead place greater emphasis on unearthing what their employees are thinking and feeling. Bransons second leadership pointer is that employees arent just resources working in the business; they are the business. A successful business isnt the product or service, its supply chain or its corporate culture: it is a group of people bound together by a common purpose and vision, he says. The best-designed business plan will come to nothing if it is not carried out by an enthusiastic and passionate staff.
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SIR Richard Branson Hes emphatic about the difference this makes when stuff -ups occur. A team of friendly and proactive employees can win customers over, but a team of cold and disinterested workers just make a tough situation worse. The manager must back this up by looking for the best in people, he says. Rather than focusing on mistakes, catch someone doing something right every day. Bransons third recommendation for excellent leadership is exemplified by his branding and the experience people have when interacting with his staff: lighten up. Find the fun in your business, he says. Try to ensure that both your staff and customers feel a real sense of warmth and affection. He advises leaders that for employees to treat clients in a heartfelt and attentive way, they need to love their work and be proud of the company. So look for people who show genuine enthusiasm and character and try to manage them that way.

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SIR Richard Branson

ANALYSIS OF LEADERSHIP STYLE

Sir Richard Branson comes from a simple environment where his parents taught him to take care of himself. He had a difficult time in school and dropped out at the age of 15. This upbringing must have hardened him in many ways. But his appearance is not at all the appearance of a hardened and bitter leader. Instead he embraces life and is giving a slightly shy appearance sometimes. His care for the environment and the suffering in the world shows the face of a caring and sharing personality. He seems to be a very caring and involved leader who listens to everyone who approaches him with something to say. Sir Richard is driving and firm in his involvement in the companies hes invested in. Although he lacks every trace of having taken any management courses he seems to fit pretty well into the management theories given in the subject of entrepreneurial leaders. He seems very likeable and professional in his leadership style. Despite his enormous wealth he claims that making money never is the goal of making business. This is a bit contradictory, when judging successful wealthy leaders and comparing to the general impressions they give. But Branson seems to act according to what he claims, and thereby he is also considered to be a trustworthy leader. His business maxim is staff first, customers second and shareholders thi rd. His company is described as a friendly, nonhierarchical organization where people enjoy themselves. Branson says his philosophy of look for the best and youll get the best helped him in build an empire recognized for its young, fun culture. Branson has developed a level of trust with his top manager by setting the direction and then stepping back to let them navigate. Inspire people to think like entrepreneurs, and whatever you do, treat them like adults.

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SIR Richard Branson

LEADERSHIP TRAITS
An international celebrity and practically a folk hero in the U.K, Branson has an estimated worth of 895 million and ranks among the U.K.s 11 wealthiest individuals. Branson developed important principles that guide his success. He believes the top person in an organization should enjoy himself, so that others feel free to express their personalities. Work, he believes, should be an exciting undertaking that challenges the status quo, rather than a humdrum experience. He does not believe in formal board meetings, and encourages employees to contact him directly with ideas and issues that require discussion. In addition to fomenting a family atmosphere, Branson believes in developing a corporate culture well-suited to change. He seeks employees who have a maverick quality, thirst for original ideas and push for change. Sir Richard Branson should be regarded as a passionate leader. On the Virgin group website the company mentions giving birth to companies and holding their hand through the organizational development. This is by all means a supportive standpoint, far away from the quarterly run businesses of many other stock exchange businesses. Courage of Branson might be when he under heavy competition in the US decided to sell out Virgin Records to save the financials of Virgin Atlantic. In that deal he also decided to switch bank due to poor support and advice for Virginia Records. An example of Bransons willingness to take risk is his venture into space tourism with Virgin Galactic. That business is by no doubt regarded as extremely courageous and risky. But at the same time driven by the same reasons as any other business profit. Branson has worked closely with Scaled Composites to develop a tourism spacecraft. As he puts it, it was a very risky act that could have gone totally wrong. However Branson is not a stranger to risk management, according to an article in Time. He commonly starts out small and shares the risk with other investors. His companies are also loosely connected according to the article, to minimise risk for each party. Branson is often very knowledgeable in the businesses he operates. In an interview for Time he talks about eliminating the spoke and hub approach that many airliners have
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SIR Richard Branson and initially focusing on direct flights between busy airports where the demographics correspond to the Virgin brand image (young and hip). Richard Bransons ventures portray creativity, venturing into airliners using new creative measures such as touch-screen ordering of food and comfortable planes. This comes in an era where most other airliners are figuring out how to remove the last remaining frills to cut costs. It has to be regarded that Branson has insight into different situations, for example his venture into space tourism. One of his strong characteristics, besides his charisma, seems to be his adaptability to situations. It is strongly developed and witnessed by him turning the situation named as the dirty tricks affair in which he had a battle with British Airways Execution is an also major trait of him. A great example of this is with Virgin Direct, Branson's plan was equally simple; he'd charge far lower commissions than other investment funds did, which everybody laughed at first, because what relevancy did Virgin have in the financial market? In 1997, Virgin Direct took in $650 million He never pigeonholes himself. He signed the Sex Pistols to a recording contract when he was in his 20s and then went on to become both a retailer and an airline executive. He says that he never listens to critics. The first severe criticism against him came when he launched his Virgin Atlantic airline in 1984, when one critic wrote, A brand cant stand for music stores, airlines, mobile phones, colas, financial services, and on and on. No brand on earth can do that. That s ego. Branson didnt listen, and he proved that critic wrong. He is a sponge for new ideas. He keeps a notebook in his pocket and jots down every promising idea he hears. Good ideas come from people everywhere, he says, not in the boardroom. He understands what the media wants and gives it to them. He is likeable. He knows when to disappear.
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SIR Richard Branson He learned early on to develop his delegation skills. "As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation," says Branson. "I have to be good at helping people run the individual businesses, and I have to be willing to step back. The company must be set up so it can continue without me. Motivational strategies extend to innovative ideas. The key to encouraging innovation within the Virgin ranks, suggests Branson, is to listen to any and all ideas and to offer feedback. Five Secrets to Business Success by Richard Branson Enjoy What You Are Doing Create Something That Stands Out Create Something That Everybody Who Works for You is Really Proud of Be a Good Leader Be Visible

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SIR Richard Branson

PERSONALITY
The famous British billionaire says having fun should be an essential part of your business. Sir Branson is the owner and Chief Executive Officer of the Virgin brand started in the 1970s. Virgin is one of Great Britains most respected brands and consists of ventures in travel and tourism, leisure and pleasure, social and environmental, media and telecommunications, finance and money, health, and shopping. As a youth, Sir Branson was introduced to many factors which shaped his adult personality. Bransons psychological type derived from the Type Theory Preferences and Descriptions is Extraversion, Intuition, Feeling, and Perceiving (ENFP). Richard Branson is driven by fun and action, an Influencer, I type. The I type personality is extraverted and people-oriented. They're inspirational leaders and entertainerscharismatic, charming, social, playful, enthusiastic, confident, optimistic, energized and caring. Branson is a fearless risk-taker and daredevil. He makes quick instinctual decisions unhampered by data analysis. He hires the right people and trusts them, empowering them with freedom to be creative and innovative. He treats employees like family. Beyond Branson's philosophy of leadership are the actual nuts and bolts. How does a man who owns 350 companies get it all done? Branson places enormous value on time management skills. As chairman of a large group of firms, Branson says he spends about a third of his time on trouble shooting, another third on new projects, both charitable and business, and the last third on promoting and talking about the businesses he has set up. Branson stated, "Business is giving people in their lifetime what they need and what they want. And you know, I've had great fun turning quite a lot of different industries on their head and making sure those industries will never be the same again, because Virgin went in and took them on. Occasionally we'll come unstuck and you know, we'll learn
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SIR Richard Branson from our mistakes but so far I think we've managed to get it right more often than we've got it wrong." According to Nelson & Quick (2008), family, culture, education, and other environmental forces shape personality. Sir Bransons personality was strongly influenced by his family environment. His mother encouraged him and his sisters to work hard and overcome adversity by continually setting physical challenges between the siblings. These competitions surely enhanced Bransons drive to compete and triumph in sporting activities. His entrepreneur success can be contributed to the early introduction of entrepreneurship by his mother and Aunt Clare. Sir Bransons was influenced by a loving family which modeled traits such as teamwork, cohesion, and support. During my childhood, children were taught to stay in a childs place and speak only when spoken to. Branson was encouraged to speak as a child and his opinions were valued. This helped to build self-esteem and confidence to communicate outside his social group. Beyond Branson's philosophy of leadership are the actual nuts and bolts. How does a man who owns 350 companies get it all done? Branson places enormous value on time management skills. As chairman of a large group of firms, Branson says he spends about a third of his time on trouble shooting, another third on new projects, both charitable and business, and the last third on promoting and talking about the businesses he has set up.

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SIR Richard Branson BIBLIOGRAPHY

http://michael.walenius.com/?p=141 http://www.thenextwomen.com/2012/04/24/what-makes-richard-branson-globalleader http://www.smh.com.au/small-business/blogs/work-in-progress/richard-bransonsleadership-tips-20100819-12rcr.html http://michael.walenius.com/?p=141

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