Tuesday, 9 September 2008
Success in Failure; Humility in Leadership
Whilst hopping around the Internet recently I came across a great article on The London Business Forum website from an interview with Sir Richard Branson. As I read it, I was struck by an individual who is totally passionate about what he does whilst also being ready to learn, change and improve.
I remember Richard Branson being set-up for a fall on more than one occasion by our beloved British Press. When he was trying something new or attempting a new record, the snipers of the true British spirit shot … and if he failed, the “I told you so” or “You read it first in the ***” kinds of headlines prevailed. It was more important that he’d failed than what he’d attempted. And yet, if we talk to any successful businessman, failure is always on their list and it’s seen as part of their road to success (and perhaps that is why so many of our current journalists will never be successful … but that’s another story!).
Anyway, please enjoy the following except from Sir Richard’s interview:
‘Many of the audience wanted Branson to dispense some entrepreneurial advice, and he didn’t disappoint, mixing the common-sense with some fascinating and salutary anecdotes. “The importance of protecting the downside,” was a key lesson to learn, he said. This is why, when he cut a deal with Boeing to buy his first second-hand 747, it included an option to sell the plane back after one year. Boeing’s only concern, he said, was that Virgin “wouldn’t live up to its name but would actually go all the way.”
Similarly, he had a valuable tip on how to retain entrepreneurial dynamism while you’re growing: as soon as the number of staff hits 100, split the firm in two. In this way, he said, Virgin Records ended up being 20 different companies that “didn’t even share switchboards”. It’s a philosophy that Virgin still tries to observe in spite of its gigantic size. Of the group’s 200 branded companies, “none of them are massive in any particular field,” Branson said, and each has to stand on its own two feet”. The people who lead each business are managing directors, and are incentivised accordingly. “Virgin has created about 200 millionaires over the years,” he revealed.
The moment you go from one company to two companies, you’ve got to start learning the art of delegation, he added. “So what I try to do when we set up new businesses [is this]: I’ll go in, I’ll immerse myself for a month or two, I’ll learn all about that industry, so that if a managing director does come to me and wants to talk to me about mobile phones or trains, I’ll know something.”
True delegation means giving people the freedom to make mistakes, he said. “[My parents] would always look for the best in what [I] did. They were great believers in lots and lots of praise… And I think if you’re the leader of a company, this is even more important. You shouldn’t be looking for people slipping up, you should be looking for all the good things people do and praising those. People know when they’ve slipped up, they don’t need to be told.”
Another defining characteristic of Branson’s personal management style was his willingness to be humble, and to listen to criticism, where staff and customers are concerned. “I do try to make an effort,” he said. “If I’m on a Virgin plane, I’ll try to meet all the passengers. I’ll have a little notebook in my back pocket. I’ll meet all the staff.” He stressed the importance of tiny details, saying that only by getting these right will you end up with “an exceptional company rather than an average company.”
Ultimately, business is not about “balance sheets, money, profits and loss,” he argued. It is about “creating something you’re really proud of, something the people who work for you can be really proud of… the actual business aspect is simply there to be mopped up at the end.”
The fact that he never got a tight grasp of financial matters was probably a benefit, he suggested, in that it persuaded him never to bring in accountants too early in the development of a venture. “You’ll get one firm of accountants that will tell you, based on their own preconceptions, why starting an airline is a ghastly idea and every other airline fails and you’re going to lose a lot of money. You’ll get another set of accountants who’ll tell you why they think you’re going to make money. But they have no idea one way or the other.”
Far more important is to create something that you, yourself, really want and value, he concluded. “If it’s exceptionally good then people will always turn up and use it.”
Perhaps it’s time to regain and re-embrace some of the old ‘British Spirit’ without being ashamed (and without extreme nationalism). And it’s time to put to death the insipid political correctness that will undoubtedly ruin so many ventures. We are not all the same. Celebrate the fact and be prepared to try to succeed, even if we must embrace failure.
Above all, be prepared to be humble; to learn, to change, to improve … and to acknowledge that we may not have all the answers on our own, but they are often in our colleagues, friends and family if we are prepared to look.
Until next time …
I remember Richard Branson being set-up for a fall on more than one occasion by our beloved British Press. When he was trying something new or attempting a new record, the snipers of the true British spirit shot … and if he failed, the “I told you so” or “You read it first in the ***” kinds of headlines prevailed. It was more important that he’d failed than what he’d attempted. And yet, if we talk to any successful businessman, failure is always on their list and it’s seen as part of their road to success (and perhaps that is why so many of our current journalists will never be successful … but that’s another story!).
Anyway, please enjoy the following except from Sir Richard’s interview:
‘Many of the audience wanted Branson to dispense some entrepreneurial advice, and he didn’t disappoint, mixing the common-sense with some fascinating and salutary anecdotes. “The importance of protecting the downside,” was a key lesson to learn, he said. This is why, when he cut a deal with Boeing to buy his first second-hand 747, it included an option to sell the plane back after one year. Boeing’s only concern, he said, was that Virgin “wouldn’t live up to its name but would actually go all the way.”
Similarly, he had a valuable tip on how to retain entrepreneurial dynamism while you’re growing: as soon as the number of staff hits 100, split the firm in two. In this way, he said, Virgin Records ended up being 20 different companies that “didn’t even share switchboards”. It’s a philosophy that Virgin still tries to observe in spite of its gigantic size. Of the group’s 200 branded companies, “none of them are massive in any particular field,” Branson said, and each has to stand on its own two feet”. The people who lead each business are managing directors, and are incentivised accordingly. “Virgin has created about 200 millionaires over the years,” he revealed.
The moment you go from one company to two companies, you’ve got to start learning the art of delegation, he added. “So what I try to do when we set up new businesses [is this]: I’ll go in, I’ll immerse myself for a month or two, I’ll learn all about that industry, so that if a managing director does come to me and wants to talk to me about mobile phones or trains, I’ll know something.”
True delegation means giving people the freedom to make mistakes, he said. “[My parents] would always look for the best in what [I] did. They were great believers in lots and lots of praise… And I think if you’re the leader of a company, this is even more important. You shouldn’t be looking for people slipping up, you should be looking for all the good things people do and praising those. People know when they’ve slipped up, they don’t need to be told.”
Another defining characteristic of Branson’s personal management style was his willingness to be humble, and to listen to criticism, where staff and customers are concerned. “I do try to make an effort,” he said. “If I’m on a Virgin plane, I’ll try to meet all the passengers. I’ll have a little notebook in my back pocket. I’ll meet all the staff.” He stressed the importance of tiny details, saying that only by getting these right will you end up with “an exceptional company rather than an average company.”
Ultimately, business is not about “balance sheets, money, profits and loss,” he argued. It is about “creating something you’re really proud of, something the people who work for you can be really proud of… the actual business aspect is simply there to be mopped up at the end.”
The fact that he never got a tight grasp of financial matters was probably a benefit, he suggested, in that it persuaded him never to bring in accountants too early in the development of a venture. “You’ll get one firm of accountants that will tell you, based on their own preconceptions, why starting an airline is a ghastly idea and every other airline fails and you’re going to lose a lot of money. You’ll get another set of accountants who’ll tell you why they think you’re going to make money. But they have no idea one way or the other.”
Far more important is to create something that you, yourself, really want and value, he concluded. “If it’s exceptionally good then people will always turn up and use it.”
Perhaps it’s time to regain and re-embrace some of the old ‘British Spirit’ without being ashamed (and without extreme nationalism). And it’s time to put to death the insipid political correctness that will undoubtedly ruin so many ventures. We are not all the same. Celebrate the fact and be prepared to try to succeed, even if we must embrace failure.
Above all, be prepared to be humble; to learn, to change, to improve … and to acknowledge that we may not have all the answers on our own, but they are often in our colleagues, friends and family if we are prepared to look.
Until next time …
Labels: delegate responsibility, encouragement, entrepreneurs, failure, humility, management skills, personal conviction, second hand boeing 747, sir richard branson, success, successful business values, virgin
Saturday, 5 January 2008
'Oh! I've known you for ages. I don't think it's my job to tell you when you've done something well ... just when you need to improve'
So ended a conversation with someone I'd known for years ... and it hurt ... and it set me thinking!
I see many people, especially young people/young adults with a desperate need to be affirmed, noticed, respected (in the true sense) and encouraged. They have many 'friends' and colleagues whom they have known for a long time, but somehow the familiarity has also put scales on the eyes of friends, so that they no longer encourage or feed positives into their life ... only a destructive neutrality.
And yet I am often just as guilty as my friend for either prejudging (appearance, comments from other people etc) or just looking for things I can improve in others, whilst missing the core values and reasons why they are my friend in the first place. What should be a relationship becomes a monologue: I forget their needs and aim to fulfil my wants.
I remember friends at school who were devastated when they had tried their hardest and yet weren't quite good enough because the standard of their work didn't compare to the standard of work submitted by other members of the class. Rather than being helped and encouraged, they were targetted by teachers and fellow pupils; they were the butt end of jokes; they were labelled 'thick', 'stupid', 'dunces' (and worse) ... and I was right there with the crowd taunting them!!
What effect did this have on the individuals concerned?
They responded in a number of ways. They became:
Discouraged ... they perceived themselves as not good enough.
Demotivated ... their enthusiasm and interest declined and not surprisingly, their marks got worse
Disillusioned ... long-term, some of my friends gave up in that subject
Some became Disenfranchised from the education system ... they continually got into trouble with teachers, pupils and in some cases the law, and very sadly, some lost hope.
But thankfully, some became very successful people, running their own business and enjoying life.
So what happened to buck the trend?
In most cases there was either an individual who took interest in them, coached and encouraged them, hung in there and made a difference. In other cases the inner drive of these people to prove to themselves that they had value and could succeed was so strong that they drove themselves to achieve what they had been told could never happen.
I hear sad stories about people like Robbie Williams and Mick Hucknall, two high profile, talented personalities in the music world who were told by teachers at school, 'You will never amount to anything.' Ouch! Wouldn't it have been so much better if their talents had been spotted, encouraged and nurtured so that they could reach and enjoy their success without so many hangups and low self image.
As we look to cultivate our relationships with others we should start by 'earning the right' to their friendship by building trust and demonstrating that we are worth having as a friend. And once we have built these friendships and relationships, it is the responsibility of each of us to accentuate the positive rather than highlight the negative or, equally as destructive, make no comment at all.
I believe that by applying these principles to our relationships, in all areas of life, we will benefit, our friends will benefit, those around us will benefit and ultimately our businesses and ventures will benefit.
So ended a conversation with someone I'd known for years ... and it hurt ... and it set me thinking!
I see many people, especially young people/young adults with a desperate need to be affirmed, noticed, respected (in the true sense) and encouraged. They have many 'friends' and colleagues whom they have known for a long time, but somehow the familiarity has also put scales on the eyes of friends, so that they no longer encourage or feed positives into their life ... only a destructive neutrality.
And yet I am often just as guilty as my friend for either prejudging (appearance, comments from other people etc) or just looking for things I can improve in others, whilst missing the core values and reasons why they are my friend in the first place. What should be a relationship becomes a monologue: I forget their needs and aim to fulfil my wants.
I remember friends at school who were devastated when they had tried their hardest and yet weren't quite good enough because the standard of their work didn't compare to the standard of work submitted by other members of the class. Rather than being helped and encouraged, they were targetted by teachers and fellow pupils; they were the butt end of jokes; they were labelled 'thick', 'stupid', 'dunces' (and worse) ... and I was right there with the crowd taunting them!!
What effect did this have on the individuals concerned?
They responded in a number of ways. They became:
Discouraged ... they perceived themselves as not good enough.
Demotivated ... their enthusiasm and interest declined and not surprisingly, their marks got worse
Disillusioned ... long-term, some of my friends gave up in that subject
Some became Disenfranchised from the education system ... they continually got into trouble with teachers, pupils and in some cases the law, and very sadly, some lost hope.
But thankfully, some became very successful people, running their own business and enjoying life.
So what happened to buck the trend?
In most cases there was either an individual who took interest in them, coached and encouraged them, hung in there and made a difference. In other cases the inner drive of these people to prove to themselves that they had value and could succeed was so strong that they drove themselves to achieve what they had been told could never happen.
I hear sad stories about people like Robbie Williams and Mick Hucknall, two high profile, talented personalities in the music world who were told by teachers at school, 'You will never amount to anything.' Ouch! Wouldn't it have been so much better if their talents had been spotted, encouraged and nurtured so that they could reach and enjoy their success without so many hangups and low self image.
As we look to cultivate our relationships with others we should start by 'earning the right' to their friendship by building trust and demonstrating that we are worth having as a friend. And once we have built these friendships and relationships, it is the responsibility of each of us to accentuate the positive rather than highlight the negative or, equally as destructive, make no comment at all.
I believe that by applying these principles to our relationships, in all areas of life, we will benefit, our friends will benefit, those around us will benefit and ultimately our businesses and ventures will benefit.
Labels: business, business success, corporate business, customer focus, emotions, encouragement, failure, failures, feelings, honesty, integrity, relationships, success, teaching, values
Thursday, 6 December 2007
The creative paradox
For decades we have been educating and training people to be academics. Those who succeed take the highest places of honour, those who don't ... well, we'd rather not talk about them.
But who are the REAL losers in these systems. I think the short answer is ... everyone!
We focus on training people to become thinkers, but at the same time deprive them of a key aspect of their intellectual capacity ... creativity.
Creativity isn't just something done by a small subset of people, locked away in a special 'creative room' that most of us never see. True creativity is something in which everyone of us can engage and comes when we apply all of our intellectual faculties ... reasoning, emotions, feelings ... when we allow our whole brain in on the party.
Think about an athlete preparing for a key race. We wouldn't expect them to exercise only one leg and one arm. We may laugh at the idea, but our traditional education systems do exactly that with our brain ... one part thrives and the other part atrophies.
And worse still, what if our brain doesn't connect with these logical, deductive learning processes? In two words: we struggle. Worse still, we become convinced of our own failure because we don't hit the academic standards (which after all are only set against one dimension of criteria).
There are many amazingly creative people who fall by the wayside because they are never allowed to achieve their full potential. Even the so-called 'academic successes' fail, as critical areas of personal development involving the emotions, interactive skills and basic team player skills have been squeezed through the academic mangle and been left behind.
Business cries out for creative people but is rarely in a position to get any: it doesn't really know how to recognise and test for creative people within its own walls and the end-products of university or college education rarely have the necessary skills or abilities.
It's a sobering thought ... one I will be looking at further. But what do you think?
But who are the REAL losers in these systems. I think the short answer is ... everyone!
We focus on training people to become thinkers, but at the same time deprive them of a key aspect of their intellectual capacity ... creativity.
Creativity isn't just something done by a small subset of people, locked away in a special 'creative room' that most of us never see. True creativity is something in which everyone of us can engage and comes when we apply all of our intellectual faculties ... reasoning, emotions, feelings ... when we allow our whole brain in on the party.
Think about an athlete preparing for a key race. We wouldn't expect them to exercise only one leg and one arm. We may laugh at the idea, but our traditional education systems do exactly that with our brain ... one part thrives and the other part atrophies.
And worse still, what if our brain doesn't connect with these logical, deductive learning processes? In two words: we struggle. Worse still, we become convinced of our own failure because we don't hit the academic standards (which after all are only set against one dimension of criteria).
There are many amazingly creative people who fall by the wayside because they are never allowed to achieve their full potential. Even the so-called 'academic successes' fail, as critical areas of personal development involving the emotions, interactive skills and basic team player skills have been squeezed through the academic mangle and been left behind.
Business cries out for creative people but is rarely in a position to get any: it doesn't really know how to recognise and test for creative people within its own walls and the end-products of university or college education rarely have the necessary skills or abilities.
It's a sobering thought ... one I will be looking at further. But what do you think?
Labels: academic, arts, business, college, creative, creativity, education, emotions, failure, failures, feelings, intellect, intellectual, intelligence, reasoning, school, sciences, skills, success, university
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