2015 04 09 10 Tips - Richard Branson's Business Approach
Post
Cancel
>

10 Tips - Richard Branson's Business Approach

1 -) Change Problems into Opportunities: Look for the good in any situation. Problems bring opportunities;

2 -) Give Responsibility to Good People: Find excellent managers and give them responsibility for the success of businesses. This responsibility will motivate managers to work hard.

3 -) Build the Brand Name: Build a strong brand name that is related to quality and service. Use your company's brand name to launch new businesses.

4 -) Use Publicity: Use publicity to promote your businesses. Publicity is generally cheaper than advertising.

5 -) Find Strong Partners: Work with other companies to share risk and get advantages that your company does not have yet. This is especially important when the business is young.

6 -) Compete against Big Companies: Compete against large companies that don't treat consumers well. Even if you lose, consumers will appreciate your effort.

7 -) Keep Things Small: Keep the organization small. In a small organization, employees feel involved. Employees also have more contact with upper management. Small companies can make decisions quickly.

8 -) Keep Good Ideas in the Company: Create a system to keep good ideas in the company. Give your employees theopportunity to try their good ideas within the company.

9 -) Manage Risk: Minimize financial risk by keeping expenseslow.

10 -) Find a Niche: Find areas of the market that other companies are not selling to, and create products and services for them. It is not necessary to serve the entire market.

This post is licensed under CC BY 4.0 by the author.
#
>