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.

Well, the odds must be against anybody being able to fly around the world in a balloon on the first attempt. All of us who are attempting to go around the world in balloons are effectively flying in experimental craft because these craft cannot be tested.

People who work for me are working for what I believe in. The leaders who run our companies do so on the basis of those who came first and who said, "A company is its people." I hope my companies are run on the basis of praising their workers and looking for the best in them, not criticizing them. In the same way that you water a plant and it sprouts leaves, people flourish when you praise them.

When employees tell you about their good ideas for the business, don't limit your response to asking questions, taking notes and following up. If you can, ask those people to lead their projects and take responsibility for them. From those experiences, they will then have built the confidence to take on more and you can take a further step back.

If you are seizing on a new business opportunity, deliberately move your customers' expectations up a few notches and consistently over-deliver on your promises - you will leave your competitors struggling to catch up.

If you don’t enjoy it, don’t do it. You must love what you do.

I know enough to know that no man is an island.