A new poll in Britain has named entrepreneur Richard Branson as that nation’s most trusted business person.
The study of 2000 people, commissioned by an insurance company called Hiscox, found that 47% of respondents trust Branson to keep his word. The result put him just behind Britain’s most trusted person, Queen Elizabeth, who was trusted by 53% of respondents.
What makes Branson so trustworthy? Respondents were not asked to specifically name the traits they most admired, but it’s a fair bet that Branson’s total openness has a lot to do with his standing in the public’s mind.
While Branson has often been accused of being something of a media tart and certainly loves the limelight, his willingness to speak openly and frankly on almost any issue helps to create an image of transparency that Britons obviously connect with.
It probably also helps that despite being a multi-billionaire, Branson has carefully constructed a sort of everyman, underdog image through his personal brand and through Virgin Group, which often positions itself as the discount competitor to established brands (think Virgin Blue and Qantas in Australia).
The survey also highlights why entrepreneurs must work on their personal brand as well as their company’s brand. While it is important to build a corporate brand that is honest, trustworthy and reliable, combining this with a strong personal brand – as Branson has done with his Virgin Group – is even more powerful.
But who would be Australia’s most trusted entrepreneur?
Gerry Harvey is bound to rank high on the list. Like Branson, he’s extremely open and has a frank way of speaking that consumers connect with. Also like Branson, his corporate brand Harvey Norman is seen as a friend of the little guy.
Trucking boss Lindsay Fox is another contender. His corporate and personal brands are well-known and visible and his story – the high-school drop out made good – also connects with consumers.
Aussie Home Loans boss John Symonds would get points for his anti-big bank crusade, and Naomi Milgrom, head of the Sussan fashion empire, would also rank highly. The late founder of the Crazy John’s empire John Ilhan is another who would have earned the public’s trust.
Who else should be on our list of trusted entrepreneurs’? Let us know in the comments box below.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
