Few entrepreneurs are as world renowned as Richard Branson. Founder of Virgin Group, his empire now spans over 400 companies, affording him a net worth of $4.8 billion. Though he’s come a long way from his humble beginnings, Richard has excellent advice for up and coming entrepreneurs.

“Remember what a company is,” Branson says. “A company is simply a group of people.” Cutting directly to the point, Richard Branson goes on to say that as a group of people, a company must be fostered, encouraged, and motivated. An entrepreneur is a leader of people, and it’s necessary to listen and support your employees.

To start a company without proper financial backing is setting yourself up to fail. “You know that there is a very very thin dividing line between success and failure ,” says Branson. Though the concept is scary, it’s very true. Proper preparation before launching a business is paramount if your looking to survive those early formative years.

Never stop learning. View everyday as an opportunity to grow and evolve. The work of an entrepreneur is never done, and without challenging yourself stagnation and complacency are invited into your life. Keep that pioneer fire burning in your heart. If you overcome a challenge, look to the horizon and prepare for oncoming obstacles. There will always be another glass ceiling to shatter.

Have a vision, a goal, and believe in it with everything you have. An entrepreneur’s company is born out of their personal desire to create. If you can’t believe in your dream, how can you expect others to do the same? Without faith in yourself, you’ve doomed your company’s journey before it’s begun.

The final tip is to be fearless. Few things in this life come without risk, and starting your own business is certainly not one of them. Take chances, leap at opportunities, and tear into openings with the same fervor that set you on this path. Entrepreneurship is a gamble wherein you put all of your dreams on the table, and though the stakes are high, you stand to win everything.