An entrepreneur is somebody who is taking bold risks, is often doing things that have never been done before, trying to do things better. And an adventurer is challenging themselves, often doing things that have never been done before, seeing what they're capable of. In both cases, you've got to protect against the downside.

Every risk is worth taking as long as it's for a good cause, and contributes to a good life.

Whether you are launching a start-up or leading an established company, you should start establishing your social media presence if you haven’t already.

When people are placed in positions slightly above what they expect, they are apt to excel.

Always think, 'what's the worst that can happen' and have some kind of strategy to deal with it

All you have in life is your reputation: you may be very rich, but if you lose your good name, then you'll never be happy. The thought will always lurk at the back of your mind that people don't trust you.

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.