I have always believed that the only way to cope with a cash crisis is not to contract but to try to expand out of it.

When I started Virgin from a basement in west London, there was no great plan or strategy. I didn't set out to build a business empire ... For me, building a business is all about doing something to be proud of, bringing talented people together and creating something that's going to make a real difference to other people's lives.

Be bold, brave and not afraid to fall on your face and ultimately you will succeed

Take a chance - it's the best way to test yourself, have fund and push boundaries.

I would not be able to change a sparking plug and I would not be able to fly a spaceship or build a rocket or whatever. But what I am good at doing is finding brilliant people and surrounding myself with brilliant people.

All in all, the internet is a force for good, providing young entrepreneurs with access to an incredible wealth of information, has changed the way we see the world and is also a great source of innovation and entrepreneurial opportunities.

I am a great believer that you need passion and energy to create a truly successful business.