If you're hurt, lick your wounds and get up again. If you've given it your absolute best, it's time to move forward.

My number one rule in business, and in life, is to enjoy what you do. Running a business involves long hours and hard decisions; if you don't have the passion to keep you going, your business will more than likely fail. If you don't enjoy what you are doing, then you shouldn't be doing it.

No matter where my travels take me, my day starts with a good work out, preferably kitesurfing or tennis. Exercise puts me in the right state of mind for the day. Dedicating time in the morning to exercise your body will make a big difference when you have to focus your mind on the day's work.

One night, I was chatting with a group of 16-year-old girls over a few drinks about a name for the record store ... A bunch of ideas were bounced around, then, as we were all new to business, someone suggested Virgin. It smacked of new and fresh and at the time the word was still slightly risqué, so, thinking it would be an attention-grabber, we went with it.

Ideally, since 80 percent of your life is spent working, you should start your business around something that is a passion of yours

I believe in myself. I believe in the hands that work, in the brains that think, and in the hearts that love.

You know I think if the people who work for a business are proud of the business they work for, they'll work that much harder, and therefore, I think turning your business into a real force for good is good business sense as well.