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.

I have always lived my life by thriving on opportunity and adventure. Some of the best ideas come out of the blue, and you have to keep an open mind to see their virtue.

Whether your sport of choice is running, cycling, kite surfing, etc. start moving and stay moving! It will give you energy and help you stay young.

Enjoy life - you only get one.

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.

Most of our businesses do succeed, but if something completely fails, then as long as we bow out gracefully and pay off all our debts, and nobody gets hurt, then I don't think people disrespect Virgin for trying. The public appreciates someone having a go; it appreciates the attempt. Who's been a success in life who hasn't failed?

However tight things are, you still need to have the big picture at the forefront of your mind.