You need lucky breaks to be successful.

Colleagues should take care of each other, have fun, celebrate success, learn by failure, look for reasons to praise not to criticize, communicate freely and respect each other.

Fun is at the core of the way I like to do business and it has been key to everything I've done from the outset. More than any other element, fun is the secret of Virgin's success. I am aware that the ideas of business as being fun and creative goes right against the grain of convention, and it's certainly not how the they teach it at some of those business schools, where business means hard grind and lots of 'discounted cash flows' and net' present values'.

Embrace a mistake and learn from it; don't regret them.

Growth does not always lead a business to build on success. All too often it converts a highly successful business into a mediocre large business.

You shouldn't be looking for people slipping up, you should be looking for all the good things people do and praising those.

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?