A successful business must have a sound knowledge of its market and work on how its product or service will be different, stand out and improve people's lives. If you can ensure it responds to a real need in the market place, your business can punch well above its weight.

I set up this magazine called Student when I was 16, and I didn't do it to make money - I did it because I wanted to edit a magazine. There wasn't a national magazine run by students, for students. I didn't like the way I was being taught at school. I didn't like what was going on in the world, and I wanted to put it right.

Don’t just play the game – change it for good.

The way you treat your employees is the way they will treat your customers

I am always working on the go.

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!

If you're bringing up kids, you just want to smother them with love and praise and enthusiasm. So I don't think you can mollycoddle your kids too much really.