Of course, a lot of businesses want to reach students, so I funded the magazine by selling advertising. I sold something like $8,000 worth of advertising for the first edition, and that was in 1966. I printed up 50,000 copies, and I didn't even have to charge for them on the newsstand because my costs were already covered.

However small a company, its founders should try to expand people's opportunities and choices.

For a successful entrepreneur it can mean extreme wealth. But with extreme wealth comes extreme responsibility.

A business can be started with very little money.

Be the best at what you do

Early on in your career, find someone better than yourself to run the business on a day-to-day basis. Remove yourself, maybe even from the building, and from the nitty-gritty. That way, you're going to be able to see the bigger picture and think of new areas to go into.

We [Virgin Group] have been successful not by wasting time scrutinising our competitors but by looking at ourselves from the point of view of our customers do and seeking feedback through listening.