I doubt that I would have been successful in my career and happy in my personal life if I hadn't prioritized health and fitness. Staying active ensures mental preparedness and the courage to try new things. It helped me to stay focused on work but also to have fun and try new approaches and explore new places. That's the spirit behind Virgin Sport - we wanted to introduce fitness activities that are enjoyable, accessible and part of your overall lifestyle.

I was a risk-taker as a young man, and I don't regret it. I'm not adventurous in quite the same way now, but I still love the challenge of testing myself to the limits, flying around the world, or seeing if I can be the first to fly a balloon across the Atlantic, or trying to take people into space at an affordable price in an environmentally friendly way. I'll be going into space with three generations of my family!

Throughout my business life I have always tried to keep on top of costs and protect the downside risk as much possible. The Virgin Group has survived only because we have always kept tight control of our cash. But, likewise, I also know that sometimes it is essential to break these rules and spend lavishly.

Entrepreneursh ip is a great leveller, since having the benefit of a wealthy background or a generous investor isn't always an advantage. The wonderful thing is that money is not the sole currency when it comes to starting a business; drive, determination, passion and hard work are all free and more valuable than a pot of cash.

I think that you're going to get so much more out of life if you just say yes at every opportunity.

The years I would have spent at University, I spent building Student Magazine and Virgin Records. For me that was far more fun and satisfying. I have treated everyday as the University education I never had and think I learnt more about business and life than I would have at University in the process.

The risk is worth it. Mike would have been the first to say that.