I have had fun running all of the Virgin businesses, so I never see a setback as a bad experience; it is just a learning curve.

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.

All successful people - not just entrepreneurs - have got things wrong over and over again before finding the right solution.

We love Formula One and think Formula One's great. But we think Formula E is different. We would be making a big mistake if we tried to compete with Formula One and be similar to Formula One, we have to be radically different to Formula One to have a chance of survival. I don't mean survival by beating Formula One but co-existing complimentary to Formula One.

The way you treat your employees is the way they will treat your customers

Fun is one of the most important - and underrated - ingredients in any successful venture. If you're not having fun, then it's probably time to call it quits and try something else.

You can't do a good business with a bad person. Find the right people to work with and you can't go wrong.