Learn to live on the edge.

The idea that business is strictly a numbers affair has always struck me as preposterous. For one thing, I've never been particularly good at numbers, but I think I've done a reasonable job with feelings. And I'm convinced that it is feelings - and feelings alone - that account for the success of the Virgin brand in all of its myriad forms.

When you're first thinking through an idea, it's important not to get bogged down in complexity. Thinking simply and clearly is hard to do.

I learnt from an early age this need to delegate responsibility out to other team members as there is just too much for one person to do themselves. What is the point of hiring talented team members if you don't give them the freedom to make the most of the chance you have given them?

And if after all this you eventually fail; don't take it personal. Don't be ashamed to start all over again.

I just wanted to create things that I could be proud of. Money was just an evil byproduct to pay the bills at the end of the year.

Our model is to develop each business separately with its own shareholder and management - this way we can concentrate on the job in hand, rather than be part of some enormous and faceless conglomerate.