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.

So I became a publisher by mistake - well, not quite by mistake, because I wanted to be an editor but I had to make sure the magazine would survive. The point is this: Most businesses fail, so if you're going to succeed, it has to be about more than making money.

It always pays off to focus on things that will make you feel proud. Remember this during every difficult decision you face.

Lavish praise on people and people will flourish; criticize people and they'll shrivel up.

I was a risk-taker as a young man, and I don't regret it. I'm not adventurous in quite the same way now, but I still love the challenge of testing myself to the limits, flying around the world, or seeing if I can be the first to fly a balloon across the Atlantic, or trying to take people into space at an affordable price in an environmentally friendly way. I'll be going into space with three generations of my family!

I like to take chances on people, and whenever possible, promote from within - it sends a great message to everyone in the company when someone demonstrates a passion for the job and leadership skills at every step along the way and is rewarded with a leadership role.

It's incredible to get people to turn out right in the middle of no where.