All you have in life is your reputation: you may be very rich, but if you lose your good name, then you'll never be happy. The thought will always lurk at the back of your mind that people don't trust you.

Give your employees a mission that matches their ambitions. When you challenge people, they surprise you.

Bakers bake bread, accountants manage accounts and entrepreneurs turn ideas into reality.

And ever since then [I] have set up businesses basically out of frustration. I mean, I set up Virgin Atlantic with one second-hand 747 because I hated the experience of flying on other people's airlines. And I thought, you know, I could try to create the kind of airline that I'd like to fly on. And people liked it.

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

There is no point in starting your own business unless you do it out of a sense of frustration.

The best advice I could give anyone is to spend your time working on whatever you are passionate about in life.