Good people have always been at the heart of the Virgin business, and that's largely because we have tried to keep our business small, and our management teams tight-knit. I feel that small, compact companies, are better run. That is partly because people feel more connected in small companies.

Having no regrets makes way for the best piece of advice I can give - don't be afraid of failure.

If you can run one business well, you can run any business well.

Companies need to have a lot more flexibility with their people... . If somebody wants to golf around the world for two months, okay, well, maybe on an unpaid basis, let them do it. That sort of flexibility I think is incredibly important because most of our time, we spend at work.

Ideally, since 80 percent of your life is spent working, you should start your business around something that is a passion of yours

At the end, entrepreneurship is not about wearing expensive suits and earning a lot of money. It is all about being true to yourself, to your values in life. Your dreams.

The best advice I ever received? Simple: Have no regrets.