Money gives you the freedom to do with your time what you want to do with it

Having a personality of caring about people is important. You can’t be a good leader unless you generally like people. That is how you bring out the best in them.

We will eventually build space science labs and hotels, prodding the capability for missions beyond the orbit of the Earth. Our space-hotel guests will be able to take breath-taking excursions, flying a couple of hundred feet above the Moon's surface in small two-man spaceships. In time, we will launch missions to Mars and beyond.

To succeed in business you need to be original, but you also need to understand what your customers want.

Breaking the rules and challenging convention is in the DNA of every successful entrepreneur. Doing things differently and solving problems with new, innovative and fresh approaches are the very reason many start-ups are able to compete and sometimes outpace the established market leaders.

What we are trying to do at Virgin is not to have one enormous company in one sector under one banner, but to have two hundred or even three hundred separate companies. Each company can stand on its own feet and, in that way, although we've got a brand that links them, if we were to have another tragedy such as that of 11 September - which hurt the airline industry - it would not bring the whole group crashing down.

To be successful, you have to be out there, you have to hit the ground running, and if you have a good team around you and more than a fair share of luck, you might make something happen. But you certainly can't guarantee it just by following someone else's formula.