Childrens Corner

Whenever he is negotiating Branson expects to haggle, always
putting in a lower – and sometimes signifi cantly lower – offer.
On large purchases – country mansions, aircraft, a Caribbean island – that can make a very big difference. Funnily enough, many business people, especially those who have spent their working lives within large corporations, don’t expect to come up against a market trader mentality, a man who will haggle for the sheer pleasure of it.

Branson’s brilliant negotiating skills also partly explain why Virgin has done so well from joint ventures and other partnership arrangements. His cheek of the devil negotiating skill has become a hallmark of the company. “No,” “never,” and “impossible” are not words in the Branson business dictionary.

“When the company was small and he was striking agreements
on his own, Branson had enough cheek to demand far more than he ever hoped to win – but also enough patience to argue a deal point by tiny point if the adversary so demanded,” notes Tim Jackson. “He was highly skilful at hiding behind others, telling those he was negotiating with that it was the objections of his lawyers or his colleagues, rather than his own misgivings, that made him unable to agree to a proposal.”

On many occasions, too, Branson’s ability to cajole others into doing what he wants has enabled him to make things happen that might otherwise have been impossible. Branson is especially good at cutting through red tape. During the preparations for one of his hot air balloon record attempts, for example, Branson was informed that a vital test on the prototype balloon could not be carried out because the aerospace company that owned the test chamber had booked it out to other customers every day for the next two years. Branson demanded the name and telephone number of the chairman of the company. Two hours later he called back to say that not only was the chamber now immediately available, but that as a goodwill gesture, the normal charge of £25,000 would be waived.

Taken From: Business The Richard Branson Way
10 Secrets of the Word’s