Please don’t get hung up on this question of whether you need to have experience in an industry before you launch your startup.

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.

Having a good network can be invaluable. It opens doors for you and allows you to enter into opportunities that are beneficial to your business. In this sense, 'who you know' is undoubtedly important, but to me 'what you know' is more important because once an opportunity shows itself, it is up to you to make the most of it, and this is down to your knowledge and skill.

If you have an idea that's going to make a big difference to people's lives, and other people are not doing it, you know, just say "screw it," do it and get on with it, and give it a go.

You shouldn't be looking for people slipping up, you should be looking for all the good things people do and praising those.

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.

I was trouble - and always in trouble. Aged eight I still couldn't read. In fact, I was dyslexic and short-sighted. Despite sitting at the front of the class, I couldn't read the blackboard. Only after a couple of terms did anyone think to have my eyes tested. Even when I could see, the letters and numbers made no sense at all.