Every business will face tough times.

Giving back has to do with the way I was brought up and the fact that I've traveled widely and seen terrible situations in the world. To sleep well at night, those of us who are in a position to help must address these situations. I'd get far greater satisfaction out of, say, walking into a hospital I'd built in South Africa than I would by sitting on a beach. I'm fortunate enough to be in a position to make a difference, and I don't want to waste that. I suspect I was also lucky to have parents who drove me from a young age.

Well, I'm somebody who is just living ...living life, and if I get frustrated by something, then I like to try to put it right.

Give your employees a mission that matches their ambitions. When you challenge people, they surprise you.

I truly believe that capitalism was created to help people live better lives, but sadly over the years it has lost its way a bit. The short-term focus on profit has driven most businesses to forget about the important long-term role they have in taking care of people and the planet.

The key is to set realistic customer expectations, and then not to just meet them, but to exceed them - preferably in unexpected and helpful ways.

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.