Fun is one of the most important - and underrated - ingredients in any successful venture. If you're not having fun, then it's probably time to call it quits and try something else.

Conflicts often stem from a couple of leaders on both sides that are badly brought up. They'd rather go to war than compromise. And in business, you're competing with other companies all the time, but you don't end up going to war with each other.

Be authentic and organic. It can't be forced or it won't work. And most importantly, have fun.

I was never, ever interested in becoming a businessman or an entrepreneur. If I was a businessman, or saw myself as a businessman, I would have never gone into the airline business.

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.

Avoid litigations. They are expensive and consume loads of time but if you have got a good case and a better chance of winning; then fight it out.

Free publicity and word of mouth is probably the best and cheapest form of advertising. Learn to use it to your advantage.