When you think of successful entrepreneurs, several very prominent people immediately come to mind. Bill Gates as a founder of Microsoft. Steve Jobs as a founder of Apple. Warren Buffett of Berkshire Hathaway fame. Mary Kay Ash from Mary Kay. And of course, there is Richard Branson, the quirky, yet very success man behind the Virgin line of companies. When people of this magnitude speak, current and aspiring entrepreneurs would do themselves a great deal of good by listening.

Last month in the American Express Open Forum, Richard Branson gave his top 5 tips for entrepreneurial success. As you might expect, coming from Sir Richard Branson, these tips are not the usual rhetoric spewed forth in business school. Listen up as I briefly rundown the 5 tips, with my thoughts thrown in.

1. Find good people – Find the right people to lead your company. Those that inspire and promote an environment where fresh, good ideas are always given the respect they deserve, no matter who they come from.
2. Employees ARE the business – I have been involved in too many companies where I felt the only reason they had employees is because somebody had to do the work. Branson values his employees and realizes they are the face of the company.
3. Look for the best if your people – Don’t focus on mistakes that will inevitably be made. Rather catch people in their good moments and tell them how good of a job they are doing. It is amazing how far an “atta boy” will go.
4. Don’t take yourself too seriously – Many corporate environments are incredibly stiff, which stifles an employee’s will to be the best that they can be. Customers can feel the corporate culture, and may choose to take their business elsewhere. Have fun in your business. Your employees, and customers, will appreciate it.
5. Just do it – It is scary to be an entrepreneur. Leaving the relative comfort of a corporate cocoon is something that most people don’t take lightly. But if you want to be a successful business owner, you have to take those scary first step.

The above 5 tips are great and are something that many current CEOs should take to heart. Learn from those that have had a great deal of success and incorporate their wisdom into your business. You will have a leg up on your competition and instead of blazing forward blindly, you should learn from others success.

Want to be a success entrepreneur? Read our reviews of small business services and see what tools and products are available to help you along your journey.