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.

If you look after your staff, they'll look after your customers. It's that simple.

You don't learn to walk by following rules. You learn by doing, and by falling over.

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.

If you are a new startup company, try not to arouse the interest or suspicion of your competition; especially if they are a bigger company. They can crush you while you are still in your startup phase. Lie low while still strengthening your bottom line.

Rather than getting nostalgic...embrace the new opportunities and challenges available to you now.

The companies that look after their people are the companies that do really well. I'm sure we'd like a few other attributes, but that would be the most important one.