For many years, Virgin started a business in various fields because the company's executives did not like the way this business was organized by others. Whether it was airlines, mobile phones or financial services, Virgin tried to focus on really improving people's lives with better service and various innovations.
According to Richard, small details like transparent pricing and friendly staff already gave them an advantage. Their humor and tone of communication also helped to attract and retain customers. Branson tries to minimize bureaucracy and constantly reminds his team that business, like life, should be fun.
When you start a small business with a team of enthusiasts, it is relatively easy to focus on the details of high quality service. But how to keep the original passion and attention to detail when the business is developing, becoming more successful and bigger?
As Virgin's recording empire grew, Branson split the company into smaller labels to preserve the atmosphere of a small enterprise. Healthy competition for new groups developed between these small companies.
But this approach couldn't work with some of Virgin's other businesses, which needed a lot of scale and size to compete with competitors. And they had to adapt these big companies a little bit to keep the spirit of Virgin, especially when they grew through mergers and entering the international market.
Branson recently attended a conference attended by several fast-growing companies. One of the speakers was Richard Reed, founder of Innocent, a company that makes smoothies and other soft drinks. Reed founded the business with two friends in 1998. Since then, the company has grown a lot (annual sales revenue is $ 315 million), and Coca—Cola has become the holder of the majority of their shares. And at the same time, they retained the spirit of innovation and fun that they had from the very beginning. It is on their experience that Richard Branson suggests learning from other companies. That's what they did:
For Virgin, this is often a shake—up of an established market, providing customers with something more in terms of value and service. In the case of Innocent, it is providing customers with great juices that should help them lead a healthy lifestyle, and the company does it in a fun way.
It is necessary to strengthen relations with those suppliers and partners who can supply you with raw materials without prepayment or rent out the premises without charging rent immediately. In this case you will be free: you will be able to start a large-scale campaign without major investments.
Managers who have reached the top often cease to feel part of the team. And sometimes it is necessary to part with such employees, it is painful, but necessary.
Richard Branson regularly visits the locations of his businesses, looks at how things are on the spot, talks to the staff. And Richard Reed does the same. He checks everything, from the cap on the bottle, which, by the way, in the expiration date line says not "use up to …", but "enjoy up to …", and to carpets in offices, which are all of exceptional quality.
Talk to the staff, read reviews on social networks and forums, always listen to what is being said about your business and brand. Feedback is what will keep your business afloat.
All these steps can be taken to execution, it's not that difficult. And they will help your business grow harmoniously and easily.
