We share with you Richard Bransons 21 Small Business Strategies, taken from the Billionaire & UK Entrepreneurs Auto Biography “Losing My Virginity: How I’ve Survived, Had Fun, and Made a Fortune Doing Business My Way“.
Richard Branson has faced an immense amount of challenges along the way and has applied these 21 strategies to carry all of his Successful businesses through thick and thin. Read on to find the Top 21 of Richard Branson’s Small Business Strategies for running a Successful business.
Richard Branson’s 21 Survival Strategies For Small Business Success
1. Remain focused on fulfilling your business mission. Never allow adversity divert your attention and efforts.
2. Don’t wait till you are big before you begin building your brand. Build a brand from scratch alongside your business.
3. Learn to use your brain power. Critical thinking is the key to creative problem solving in business.
4. Build your own business team. Survival in business requires a synergy of skills.
5. Never take your eyes off the cash flow because it’s the life blood of business.
6. If you are a new startup company, try not to arouse the interest or suspicion of your competition; especially if they are a bigger company. They can crush you while you are still in your startup phase. Lie low while still strengthening your bottom line.
7. Grow internally first. Strengthen your bottom line first before considering external growth.
8. Focus on your business strengths and keep its weaknesses away from the competition or public.
9. Be swift to take advantage of business opportunities. Bigger companies are too cumbersome to move quickly; this can be a competitive advantage for you.
10. Learn to live on the edge.
11. Be creative. Innovate consistently on the little things that the big companies ignore. Little things often make big differences in business.
12. Listen to the customer’s complaint and act fast.
13. Meet regularly with your business team and brainstorm. Intricate business problems are mostly resolved at brainstorming sessions.
14. Run lean; avoid unnecessary expenses.
15. Don’t hesitate to seek external help or advice where need be. Sometimes, it takes an external, emotionally unattached individual to detect your business flaws and render unbiased advice.
16. Follow your instincts and live with the consequences.
17. Avoid litigations. They are expensive and consume loads of time but if you have got a good case and a better chance of winning; then fight it out.
18. Free publicity and word of mouth is probably the best and cheapest form of advertising. Learn to use it to your advantage.
19. Learn to raise capital by any means necessary. That’s your primary job as an entrepreneur. You must continually raise capital from family and friends, banks, suppliers, customers and investors.
20. Seek out strategic alliances; they are essential to growth and provide resistance to bigger competition.
21. And if after all this you eventually fail; don’t take it personal. Don’t be ashamed to start all over again.
Richard Branson’s Success Quotes To Live By:
“Screw it, let’s do it.” – Richard Branson
“A business has to be involving, it has to be fun and it has to exercise your creative instincts.” – Richard Branson
“Back then we would create a company based on frustration at other people’s service and suddenly realized we had one of the most respected brands in the world.” – Richard Branson
“If you are trying to do something for the first time, it’s always an enormous challenge, and there is no guarantee of success. You never know with these things when you’re trying something new what can happen. This is all experimental.” – Richard Branson
“Business opportunities are like buses, there’s always another one coming.” – Richard Branson
“We look for opportunities where we can offer something better, fresher and more valuable and we seize them. We often move areas where the customer received a poor deal and where the competition is complacent. And with our growing e-commerce activities, we also look to deliver old products in new ways. We are proactive and quick to act, often leaving bigger and more cumbersome organizations in our wake” – Richard Branson
“To be successful, you have to be out there, you have to hit the ground running, and if you have a good team around you and more than a fair share of luck, you might make something happen. But you certainly can’t guarantee it just by following someone else’s formula.” – Richard Branson
“In the beginning it was just about the business; now it’s about the brand.” – Richard Branson
“Above all, you want to create something you are proud of. That’s always been my philosophy of business. I can honestly say that I have never gone into any business purely to make money. If that is the sole motive, then I believe you are better off doing nothing.” – Richard Branson
“We don’t actually plan to launch new businesses over the next few years, but we are planning to take the ones we have into new territories.” – Richard Branson
9 Powerful Quotes That’ll Inspire You to Be Your Own Boss
Flash forward 38 years from now. You’re in your dining room, sitting at the table, hands folded. Directly across from you is your granddaughter, staring at you. Intently. There is silence. And then you smile: “I want you to take this business to new heights. It’s now yours.” Your granddaughter nods her head, beaming: “I will make you proud.” Wouldn’t you like to make this a reality? (more…)
David Ogilvy: 7 Marketing Quotes from the Father of Advertising
Marketing trailblazer David Ogilvy, has in many ways defined the business world as we know it today. Through his company Ogilvy & Mather, Ogilvy worked with countless well-known brands from Rolls Royce to Dove, crafting some of the most effective advertising campaigns ever created. (more…)
46 Inspirational Quotes From the Most Popular Influencers
Have you ever wondered why quotes have become so popular nowadays? They are literally everywhere: billboards, social media, etc. The secret to inspirational quotes is in the motivation they bring to our lives. These sayings from famous people, successful entrepreneurs, and politicians have a positive effect on our mood and help us to stay motivated. Some quotes can even inspire us to do something we would never have previously dared to do. (more…)
10 Powerful Ed Mylett Quotes to Help You Stay Focused and Motivated
If you’re ready to take your performance and success to the next level, Ed Mylett is your go-to guy for heartfelt and honest inspiration. By using core values and personal responsibility, Ed’s words can keep you motivated and focused. (more…)
Let Your Feet Do The Talking
8 Powerful Ways To Show Up In Dating & Relationships – Apollonia Ponti
Are Low Self-Esteem and a Lack of Confidence Holding You Back?
How to Become an Influencer in 2020
Boosting Your Creativity in 3 Easy Steps
55 Inspirational Quotes That Will Change Your Life
(Images) 52 Motivational Picture Quotes For An Epic Year Of Success
30 Famous Quotes That Will Inspire Success In You
72 Positive Thinking Quotes For More Inner Strength & Growth
40 Rare Motivational and Inspirational Picture Quotes
3 Prince EA Videos To Change Humanities Path To Greatness
(Video) What Is Success? An Entrepreneurial Story To Inspire You
(Inspirational Video) What If Today You Knew You Were Going To Take Your Last Breath?
How To Make Enough Money From A Blog To Quit Your Job – Kate McKibbin
How Finding Your Passion And Becoming An Entrepreneur Can Lead To Happiness – Chiquita Searle
- Motivation4 weeks ago
7 Things You Can Do To Motivate Yourself After You’ve Experienced Failure
- Success Advice3 weeks ago
The Life Story of Jack Ma and How He Became a Self-Made Billionaire
- Entrepreneurs4 weeks ago
5 Elon Musk Approved Tips for Entrepreneurs
- Life3 weeks ago
The Easiest Life Hack That Will Improve All Your Relationships Instantly
- Success Advice4 weeks ago
10 Pieces of Wisdom You Can Find in Popular Young Adult Novels
- Motivation3 weeks ago
The Bare Truth of What It Literally Means to Do Whatever It Takes
- Success Advice3 weeks ago
How to Become a Boss That Everybody Wants to Work With
- Success Advice4 weeks ago
The Search for Your Inner Peace Requires Commitment