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.

One thing is certain in business: you will make mistakes. When you are pushing the boundaries, mistakes are inevitable-how you react is important.

Entrepreneurial business favours the open mind. It favours people whose optimism drives them to prepare for many possible futures, pretty much purely for the joy of doing so.

I believe in myself. I believe in the hands that work, in the brains that think, and in the hearts that love.

My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had - everyday I'm learning something new.

To be a real entrepreneur you always have to be looking forward. The moment you rest on your laurels is the moment your competition overtakes you.

For a successful entrepreneur it can mean extreme wealth. But with extreme wealth comes extreme responsibility. And the responsibility for me is to invest in creating new businesses, create jobs, employ people, and to put money aside to tackle issues where we can make a difference.