I also know, as an entrepreneur myself, you face new obstacles every day and you need to have the perseverance to see them through.

LEARN FROM FAILURE. If you are an entrepreneur and your first venture wasn't a success, welcome to the club.

When I started Virgin from a basement in west London, there was no great plan or strategy. I didn't set out to build a business empire ... For me, building a business is all about doing something to be proud of, bringing talented people together and creating something that's going to make a real difference to other people's lives.

Life is a helluva lot more fun if you say yes rather than no

And [we hope to sell] the clean fuels to other airlines. I mean, the exciting thing about the breakthrough with clean fuels for the airline industry is there's only 1,700 pumps in the world that fill up the airlines.

All you have in life is your reputation: you may be very rich, but if you lose your good name, then you'll never be happy. The thought will always lurk at the back of your mind that people don't trust you.

The ability to bounce back after a setback is the single most important trait an entrepreneurial venture can possess.