Are you the next Richard Branson?
- By Jack Preston -
- Jun 25, 2012
What qualities must a successful entrepreneur have? What sets the best apart from the rest of the field? Intrigued by this question the Daily Mail’s Andy Yates has come up with five qualities which entrepreneurs, such as the Virgin Group founder, have in abundance. How do you rate against these yard sticks?
1. Determination
As Richard Branson himself would tell you, it takes a lot of determination to pick yourself up every time you fall. Virgin have won many battles (notably taking on British Airways), although they’ve also lost their fair share (as Coca-Cola would be happy to point out).
The humble beginnings of the Branson empire mean that he’s well aware of what it’s like to start out with very little, determination and enthusiasm can go a very long way –especially if that’s all you have at your disposal.
2. Passion
There’s one quality that usually sets successful entrepreneurs apart from the rest of the field. It’s very clear, even to this day, that the Virgin Group founder has passion in abundance. His tireless work in supporting new initiatives from the Virgin companies, as well as through raising money for Virgin Unite, shows that his ‘screw, let’s do it’ attitude hasn't died down with age.
From the early days of ‘Student’ magazine, Branson’s first business venture, it was clear that his enthusiasm for business and a good challenge was going to be one of the key attributes in his succeeding.
3. Perseverance
“In my experience, whatever can go wrong usually does at some point. You need a ‘Keep Calm and Carry On’ attitude instead of ‘Now Panic and Pack It In,’ explains Yates.
“Successful entrepreneurs who last the distance are used to being thrown off the horse, then dusting themselves down and climbing right back into the saddle. Failure doesn’t faze them.”
4. Personality
Charisma, charm, respect, trust and an ability to both communicate with and motivate staff are key when running a business. A quick word with anyone who has worked with Richard Branson will confirm that he has all of the above, in abundance. As he often explains, “you can’t get stuck behind a desk, you need to get out of the office and meet the people who work in your business.”
The Virgin brand has been built on a key set of trusted ideas as well as the strength of Branson’s personality. Strong business principles have made Virgin a success, although it’s often been the charm of Branson that has caught the headlines.
5. Flexibility
“The reality is that the idea, product or concept you first thought of is probably not the one you will end up with - or the one that will make you the most money. An open mind can open a lot of doors,” explained Yates.
With hundreds of Virgin business, covering everything from weddings to space travel, it’s safe to say that Branson is flexible when it comes to business. Being comfortable and confident enough to try and constantly break into new markets has seen Virgin give consumers a great choice, as well as a great deal of personal satisfaction in being able to make a real difference.
So, how do you score in these five categories? Highly enough to make it as the next Richard Branson? Or are you already a successful entrepreneur and think there’s been a glaring omission – is there a quality you have which other entrepreneurs also need to go far? Let us know below…
By Jack Preston. Content Executive. Tweets at @JackPressedOn
