The brand is only as good as your products, so.. if people have a good experience on Virgin Atlantic or if they have a good experience on Virgin trains or.. if they have a Virgin mobile phone and they can get straight through to our people and they're well looked after and then they'll try the next product that we launch.

Play fair, be prepared for others to play dirty, and don't let them drag you into the mud.

Only a fool never changes his mind.

Well, I think that there's a very thin dividing line between success and failure. And I think if you start a business without financial backing, you're likely to go the wrong side of that dividing line.

From the first days of my career as an entrepreneur, I have always used my own and my team's lack of experience to our advantage. In fact, at our first venture, Student magazine, we used our newcomer status to secure great interviews and generate publicity - people were excited about our new project and wanted to get involved. Our inexperience fed our restless enthusiasm for trying new things, which became part of our core mission.

All successful people - not just entrepreneurs - have got things wrong over and over again before finding the right solution.

Ideally, since 80 percent of your life is spent working, you should start your business around something that is a passion of yours