Richard Branson: Two Gems

The typical commute in Mumbai is harsh, to say the least. And, listening to insightful podcasts is a great way to make the most of your drive time.

One such talk I really enjoyed was a conversation with Richard Branson, founder of the international conglomerate the Virgin Group. Stephen J. Dubner of Freakonomics fame, spoke with Branson as a part of the series: “The Secret Life of a C.E.O.

While the entire series – including this episode – is worth its weight in gold, here are two takeaways that really made me stop and take notice.

1. When asked if he is actually the CEO of any of his companies, Branson had this to say:

… I’ve delegated pretty well all the C.E.O. roles. And I actually believe that people should delegate early on in their businesses, so they can start thinking about the bigger picture.

 

If I’m ever giving a talk to a group of young businesspeople, I will tell them, you know, go and take a week out to find somebody as good or better than yourself. Put yourself out of business, and let them get on and run your business day to day, and then you can start dealing with the bigger issues, and you can take the company forward into bigger areas, and you can — maybe if you’re an entrepreneur, you can start your second business or your third business.

 

And so I think too many young entrepreneurs want to cling on to everything, and they’re not good delegators.

I can’t tell you the number of people I know – personally – who need to hear this and truly internalize it. An “entrepreneur” and a “CEO” are two distinctly different mindsets. Some folks may be able to traverse the two worlds – fleetingly. But doing both simultaneously, and over a sustained period of time, is nearly impossible. The sooner an entrepreneur makes peace with that fact, the sooner he/she will be on the path to growth and success.

2. When asked about his famed approach to motivating people via employee-friendly policies across the Virgin group of companies, Branson replied:

… Let’s just look at this business of forcing people to come to an office.

 

First of all, you’ve got maybe an hour or an hour and a half of travel time in the morning, another hour and a half of travel time in the evening. And, you know, when you’re at the office, it’s important that you say hello to everybody and that you’re friendly with everybody, so you use up another hour or two, you know, socializing with people. Then, because you’re not at home, you need to communicate with your family. So you spend another bit of time communicating with your family. And so the day carries on and you might get a couple hours of work done.

 

If you’re at home, you know, you wake up. You can spend a bit of time with your family. And be a proper father, which is perhaps the most important — or mother — most important things that we can do in our life. But you can also find the time to get whatever your job is done, because you’ve got another four or five hours free to do it. And you know, we’ve never been let down by people that we’ve given that trust to.

Think about that. How many CEOs or business leaders do we know who are sensitive to the realities of day to day Life, the way the average employee perceives them? And, how many organizations can we speak about that actually “trust” their people to this degree? Work-from-home is just one dimension of this thinking; Branson also talks about a ‘prisoner program’ that Virgin runs to employ current and ex prisoners across roles, including in Security!

In my view, there has never been a better time to access the world’s riches. Insights are all around us, and conversations with folks who have done it all, are just a few clicks away. Some of us will make the most of it and learn from these experiences, while some of us will spend our time watching cute cat videos.

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