What’s the similarity between Richard Branson and Warren Buffett? They are both extremely rich, famous and they are forever smiling. They both look extremely grounded. They also seem to be pretty intellectual in a very different sort of way. Their teachings on life and lessons from their own life are almost philosophical and therapeutic. While most people who have seen a lot and achieved a fair bit would shed some wonderful anecdotes on life, yet these two are in a league of their own.
Beyond all those similarities that are outright visible, both these super rich personalities have the same management style. Richard Branson management style is the same as that of Warren Buffett, which is known as the Laissez Faire leadership style. Their business practices, premises, investment philosophies and way of leading life are pretty different. But they both have a hands-off approach when it comes to leading or management.
Sneak Peek into the Richard Branson Management Style
Laissez Faire leadership is a hands-off approach where the workers enjoy freedom, autonomy and the manager or the leader seldom interferes in any part of the business or the key responsibilities of the employees. The ground rules are preset, the policies are clear, the infrastructure is provided and the right kinds of people are hired to get the job done. And there is enough flexibility for the workers to get the job done.
Richard Branson believes that allowing people to be free, happy and satiated is the secret to running an enterprise. One of his topmost priorities is to offer something better to customers and he doesn’t think that is possible unless he offers something better to the employees. For happy employees would always lead to happy customers. This may sound like a cliché today but when Sir Richard Branson endorsed such a philosophy and started developing company policies accordingly, the management style was not so obvious.
Richard Branson likes his people to have fun, bond with one another, enjoy a few drinks after work and be open about every problem and every idea. There is no stringent code, no policing, no barrier in communication and there is no unfair or preferential treatment. Everything is transparent and everyone has the right to speak up.
Richard Branson also believes in hiring the right people. His companies have a policy that prospective candidates that don’t fit the bill or would not be ideal for the company’s spirit and ethos are not to be hired.