How Richard Branson Makes Decisions
I was having lunch with Richard Branson while we were in South Africa and we were discussing a lot of different topics. I want to share with you how he said he makes his decisions.
I had several meetings in Holland with Dutch billionaire who is a really interesting character. He told me in that back during his prime, he made over one hundred decisions a day and most of them were right. He admitted he had made some bad decisions, but most of the time, he got it right.
Remembering this previous conversation led me to ask Richard Branson how he makes his decisions. He told me that he actually was in the middle of making a huge decision. He had three days to decide about a 5 billion dollar deal related to getting Wi-Fi into space so large parts of world could get free Wi-Fi.
He told me that when making decisions he like to be informed, get the opinion of all his advisors, gather all the external facts and opinions; but in the end, he makes his own decision.
For example, all of his advisors said he should not go into trains. Many of his advisors are CEOs of his companies, and if Branson spends the money, they get less money. A lot of them told him not to go into planes and advised against some other things that he has done, and look at where he is right now. Because he made his own decisions, he has been extremely successful.
I believe everyone advised him not to do the Wi-Fi deal, so it will be interesting to see what he does in a couple of days.
When I look back on choices I have made in my business, the times that I made decisions based on other people’s opinions, when I didn’t really feel it, it totally went wrong.
So, to summarize this advice on how to make decisions: follow your gut, follow your intuition, be informed, but do not let other people mislead you. Do what you think is best.
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