Most people assume that a record shop's success lies in selling records. In fact, Virgin's success both in mail order and the record shops lay in skill at buying records.

Throughout my business life I have always tried to keep on top of costs and protect the downside risk as much possible. The Virgin Group has survived only because we have always kept tight control of our cash. But, likewise, I also know that sometimes it is essential to break these rules and spend lavishly.

In times of recession there are massive opportunities and fortunes to be made, so for new up and coming entrepreneurs, this is the time to go and start a business.

Virgin, is how good you are with people. If you're - if you're good with people and you've got - you know, and you really care, genuinely care about people then I'm sure we could find a job for you at Virgin. I think, you know, that, you know, that the companies that look after their people are the companies that do really well. I'm sure we'd like a few other attributes, but that would be the most important one.

You know I think if the people who work for a business are proud of the business they work for, they'll work that much harder, and therefore, I think turning your business into a real force for good is good business sense as well.

Sometimes I do wake up in the mornings and feel like I've just had the most incredible dream. I've just dreamt my life

If you don't make bold moves, the world doesn't move forward.