Holly Branson on what it takes to build purpose into your business

Holly Branson takes the pen to tell Ambition A.M. what it takes to build purpose into a business – and what you should know before you begin. 

Every week, Ambition A.M. passes the pen (or keyboard) to a founder eager to share the unfiltered stories fuelling Britain’s entrepreneurial spirit.

This week, we spotlight Holly Branson, daughter of UK entrepreneur Richard Branson and Virgin’s chief purpose and vision officer. 

Sometimes, B Corp certification – a certification awarded to purpose-led companies meeting high standards of social and environmental performance – isn’t always a quick achievement. 

Luckily, there are other ways to build purpose into your business or start-up, and Holly Branson takes a sneak peak at what those alternatives might look like.

How can founders build purpose into their business? 

To weave purpose into the very fabric of your business, start by thinking about each and every one of your stakeholders and work out how their interests can be considered.

What can you do to improve the lives of your employees, your customers, and the communities you serve? How do your decisions impact how you choose your suppliers and partners you work with? And what considerations do you have for our beautiful planet? 

At Virgin, we engage our whole company in defining how we embed our purpose, ensuring it’s more than a tagline—it’s our core reason for being. 

This also means that everyone has a vested interest in helping your company become a successful, purposeful business. 

Joining the Better Business Act coalition has been pivotal, advocating for legal changes that compel businesses to acknowledge their broader impact. It’s crucial that businesses of all sizes embrace this responsibility and help spearhead the change towards all businesses being a force for good.

What are some of the most important factors to consider when establishing or growing a purpose-led business? 

The well-being of your people is central to a thriving purpose-led business. Creating an environment where everyone can flourish is not only the right thing to do but also essential to future-proofing your business. 

This culture of purpose empowers employees, aligning personal growth with business objectives. At Virgin, we’ve seen firsthand how such an ethos not only boosts morale but also drives innovation. 

Embrace this approach wholeheartedly, and you’ll see how a purpose-driven culture benefits everyone.

What is one thing you believe founders should be aware of before starting their purpose-led journeys? 

Prepare to make difficult decisions. Aligning with your values might mean turning down certain investments, partnerships or even clients. 

However, these decisions reinforce your commitment to purpose and will ultimately be positive. By making decisions in the interest of people and the planet, you are investing in the long-term growth and sustainability of your business. 

At Virgin, we have developed and use a Purpose Decision-Making Filter to guide us, ensuring our actions consistently reflect what we believe in. The theme for Better Business Day 2024 is ‘The Pitch for Better Business’; a campaign aiming to show the value in pursuing a more purposeful path. 

How do you measure and define success?

For me, true success is achieved when the needs of people, planet, and profit are aligned. Currently, corporate governance prioritises short-term shareholder interests above those of society and the environment. 

The Better Business Act proposes a shift—empowering companies to serve a broader range of stakeholders, not just shareholders.

As well as supporting the Better Business Act, we have proactively amended our Articles of Association to reflect this commitment, advocating for a balance that fosters long-term, inclusive success. 

And we hope we also encourage all businesses, big and small, to look at their Articles and make this important change. Supporting such legislative changes is a crucial step for any forward-thinking business.