Sir Richard Branson launched Virgin Records in 1973, today holds more than 200 companies in more than 30 countries under his Virgin Group. His companies include airlines, stores, publishing and an innovative commercial space travel.

Sir Richard revealed his best business advice during his interview on 30 Days of Genius,

“The best businesses come from people’s bad personal experiences. If you just keep your eyes open, you’re going to find something that frustrates you, and then you think, ‘well I could maybe do it better than it’s being done,’ and there you have a business.”

“If you can improve people’s lives, you have a business.”

People think, ‘well everything’s been thought of,’ but actually, all of the time, there are gaps in the market here and gaps in the market there.”

You can watch the full interview with Chase Jarvis, a renowned photographer and CreativeLive founder:

Source: Creative Live