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.

You're offering a great service. People are tuning in. So continue to find great people, continue to do what you're doing. And do it better than your rivals. I know that's easier said than done.

After all - life is not a dress rehearsal!

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.

If you are a new startup company, try not to arouse the interest or suspicion of your competition; especially if they are a bigger company. They can crush you while you are still in your startup phase. Lie low while still strengthening your bottom line.

Fantasizing about the future is one of my favorite pastimes.

My number one rule in business, and in life, is to enjoy what you do. Running a business involves long hours and hard decisions; if you don't have the passion to keep you going, your business will more than likely fail. If you don't enjoy what you are doing, then you shouldn't be doing it.