Whether you are launching a start-up or leading an established company, you should start establishing your social media presence if you haven’t already.

It's far more difficult being a small-business owner starting a business than it is for me with thousands of people working for us and 400 companies. Building a business from scratch is 24 hours, 7 days a week, divorces, it's difficult to hold your family life together, it's bloody hard work and only one word really matters - and that's surviving.

I've been taught not to have any regrets. If we were to add up all of the hours spent regretting mistakes and use that time to develop new ideas, who knows how many brilliant new businesses would be created.

One night, I was chatting with a group of 16-year-old girls over a few drinks about a name for the record store ... A bunch of ideas were bounced around, then, as we were all new to business, someone suggested Virgin. It smacked of new and fresh and at the time the word was still slightly risqué, so, thinking it would be an attention-grabber, we went with it.

... Our first priority should be the people who work for the companies, then the customers, then the shareholders. Because if the staff are motivated then the customers will be happy, and the shareholders will then benefit through the company's success.

I think business needs to have a heart and to have a heart a company must be more than just a moneymaking machine.

The balloons only have one life and the only way of finding out whether they work is to attempt to fly around the world.