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How To Run Your Project Like Richard Branson


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By looking at how the Billionaire Richard Branson approaches the way he successfully runs his many businesses we can see how to do projects better. In this slideshow you will see the 6 things that Richard Branson does that you can take and apply on your project.

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How To Run Your Project Like Richard Branson

  1. 1. –Richard Branson “When most people think about taking a risk they associate it with negative connotations, when really they should view it as a positive opportunity. Believe in yourself and back yourself to come out on top.”
  2. 2. The art of letting go “When employees tell you about their good ideas for the business, don't limit your response to asking questions, taking notes and following up. If you can, ask those people to lead their projects and take responsibility for them.” Richard Branson With your projects it is a good idea to take this approach. The project manager should be focussed on the big picture and not into the detail. The project team should be focussed on the detail and as a project manager you need to trust them and let go. Let them run with it and take ownership.
  3. 3. Art of communication “You can build good communications into your company's DNA by ensuring that discussions are built on openness, clear language, and a willingness to listen to everyone who has something to say.” Richard Branson. On your project encourage good communication by ensuring everyone is listened too. As a project manager be open and communicate using clear language that everyone will understand.
  4. 4. Enjoy what you do "Fun is one of the most important — and underrated — ingredients in any successful venture. If you're not having fun, then it's probably time to call it quits and try something else” Richard Branson Next time you pick up your next project assignment check to see if it something you would have fun delivering. When the project starts to go wrong which it will do (they all do) it is far easier to stay focussed on a project that you are enjoying.
  5. 5. Protect the downside Before going ahead with his Virgin Air dream, he got Boeing to agree to take back Virgin's one 747 jet after a year if the business wasn't operating as planned. One of the most important roles a project manager performs on a project is protecting the downside. In project management speak protecting the downside is called risk mitigation. As a project manager it is important that you work with your team to identify project risks. The next step is again working with the team to identify how to mitigate the risks.
  6. 6. Make a difference Branson started Virgin Direct because he was tired of giving 5 percent of his money to other financial services companies. Every other financial services company in Britain has had to reduce its rates to compete. Your project should always have a strong reason for existing. There should be a business case that is constantly checked to make sure the project is delivering the promised objectives. Any project that is not going to make a difference will get cancelled. It is therefore important to keep checking that the project will deliver the expected benefits.
  7. 7. Employees first Richard Branson believes that the correct pecking order is employees first, customers next and then shareholders. As a project manager it is important that you recognise the role that the project team members make to the success of the project. Make sure you take the time to thank people for their efforts. Also highlight individual achievements in project communication that is both internal and external to the project.
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