Since Branson founded Virgin in 1970, the company has grown from a small record outlet to a global powerhouse. Can the brand continue its success without him? Question: What is your advice for entrepreneurs? Richard Branson: I think the most important thing about running a company is to remember a

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Richard Branson: Advice for Entrepreneurs

Since Branson founded Virgin in 1970, the company has grown from a small record outlet to a global powerhouse. Can the brand continue its success without him?

Question: What is your advice for entrepreneurs? Richard Branson: I think the most important thing about running a company is to remember all the time what a company is.

A company is simply a group of people. And as a leader of people you have to be a great listener and you have to be a great motivator. You have to be very good at praising and looking for the best in people. People are no different from flowers.

If you water flowers they flourish, if you praise people they flourish. And that is a critical attribute of a leader. Question: What has been the most difficult part about running Virgin?Richard Branson: There is a very thin dividing line between success and failure. Most people who set off in business without financial backing they fail at some times in their lives. I've only just stayed at the right side of that dividing line.