As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation. I have to be good at helping people run the individual businesses, and I have to be willing to step back. The company must be set up so it can continue without me.

Play fair, be prepared for others to play dirty, and don't let them drag you into the mud.

Have passion for what you do; believe in yourself and your product and your customer; persevere; delegate; listen. Have fun. Today, I add: "Do good".

What does the name Virgin mean? We are a company that likes to take on the giants. In too many businesses, these giants have had things their own way. We are going to have fun competing with them.

When something doesn't go exactly to plan, money is tight or a business is struggling - see it as a challenge rather than a failure. Look outside the box and try and find a solution - you'll be surprised how many great opportunities and possibilities arise when things look bad. You've just got to open your mind and not be afraid of sticking your neck out!

If you look for the best in your employees, they'll flourish. If you criticize or look for the worst, they'll shrivel up. We all need lots of watering.

When you are making a decision about how best to serve your customers, your own experience is often a better guide than a more sophisticated analysis of the market.