In a sense, when we started Virgin Atlantic, I was trying to create an airline for myself. If you try to build the perfect airline for yourself, it will be appreciated by others.

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

It's all about finding and hiring people smarter than you. Getting them to join your business. And giving them good work. Then getting out of their way. And trusting them. You have to get out of the way so YOU can focus on the bigger vision. That's important. And here's the main thing....you must make them see their work as a MISSION.

The years I would have spent at University, I spent building Student Magazine and Virgin Records. For me that was far more fun and satisfying. I have treated everyday as the University education I never had and think I learnt more about business and life than I would have at University in the process.

In times of recession there are massive opportunities and fortunes to be made, so for new up and coming entrepreneurs, this is the time to go and start a business.

I think sometimes when you come from a conservative background, you want to rebel a little bit. I dropped out of school at 15 and learned early in life that saying yes was a lot more fun than saying no. If you have the opportunity to explore the skies and attempt something people haven't done before - well, I was damned if I was going to sit around watching television while someone else was doing it.

Every business will face tough times.