Sir Richard Branson is a business magnate, investor and philanthropist. Richard has been involved in the competition since the beginning. After serving on the jury in 2007, he returned in 2013 as chair of the jury. He shares six quick tips that every young entrepreneur should bear in mind when starting up.

Here are our four favourite tips. You can read the full article on the website of Virgin Group. []

Think about what drives you
“When you’re considering which idea to turn into a business, think about the subjects and problems that interest you most. Is there an industry you love? A talent you have? A cause that you are 110 per cent behind? Don’t start a business just because you think it’ll turn a profit; if you’re not in love with the idea, you won’t move mountains to make it happen.”

Start at your doorstep
“Now that you have decided on the area you’d like to focus on, look around yourself. What is the market missing that it desperately needs? Which services do you and your friends use that are lacklustre and could be hugely improved? Think about how your business could help your street, your neighbourhood and your city. From there, you might someday expand to bigger markets.”

Shake things up
“As you design your product or service, remember your resolve to serve the public; business is about improving other people’s lives. Hopefully, once you’ve done that, more money comes in than goes out.”

Love what you do
“Whatever you’re doing in business, it should be fun. That has always been a priority at Virgin, and it’s a vital component of our success. I love what we do, our employees love what we do, and so our customers love what we do, too.”

>> Are you an entrepreneur with a great green business plan? You only have one more week to enter this year's competion!

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