I've been taught not to have any regrets. If we were to add up all of the hours spent regretting mistakes and use that time to develop new ideas, who knows how many brilliant new businesses would be created.

We don't actually plan to launch new businesses over the next few years, but we are planning to take the ones we have into new territories.

Having a good network can be invaluable. It opens doors for you and allows you to enter into opportunities that are beneficial to your business.

Always think, 'what's the worst that can happen' and have some kind of strategy to deal with it

In times of recession there are massive opportunities and fortunes to be made, so for new up and coming entrepreneurs, this is the time to go and start a business.

Because I don't see Virgin as a company but as a way of life and I fully enjoy it, I don't think I'll ever retire.

We [Virgin Group] have been successful not by wasting time scrutinising our competitors but by looking at ourselves from the point of view of our customers do and seeking feedback through listening.