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.

Most skills can be learned, but it is difficult to train people on their personality.

Success comes from delegating, risk-taking and having a good TEAM!

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.

Screw it, just do it!

Good customer service begins at the top. If your senior people don't get it, even the strongest links further down the line can become compromised.

Above all, you want to create something you're proud of.