Richard Branson shared some of the thinking that has gone into his business success and philanthropic endeavors this week at LPL Financial's Focus conference in Boston.

Branson, the eccentric and outspoken chairman of Virgin Atlantic Airways, founded Virgin Records, which he recently sold for $1 billion. He also oversees the Virgin Group, an extensive conglomerate encompassing more than 360 companies.

Here are some of Branson’s life lessons and words of wisdom that he shared with the event's 7,000 attendees:

Start Early

Branson said he grew up in a humble family with lots of love and praised his mother for helping him grow up to do great things. “I had a mother that was absolutely determined to have us stand on our own two feet,” he said.

For example, when he was a boy, she once dumped him five miles away from his grandmother's house and told him to find his own way. "She would have got arrested today,” he joked. 

Don’t Let Personal Challenges Hold You Back

Branson said he is dyslexic, but rather than holding him back, he believes it helped him be successful. While he struggled in traditional education, the dyslexia inspired him to follow his passions. “Being dyslexic bizarrely helped. It turned my attention to things I was interested in,” he said.

He spoke of starting a magazine to campaign against the Vietnamese war. When the school administration told him to shut it down, he chose not to.

‘Just Get On And Do It.’

Branson said he became an entrepreneur before the word ever existed. His favorite quote, “Screw it and get on and do it,” reflects his desire to try new companies with different or new products and services. 

“An entrepreneur is someone that makes something that makes a difference in people’s lives,” he said in a video he showed at the conference.

“I am a person that looks forward more than looking back,” he added.

His advice was to give an idea a go. The worst thing that can happen is that you fall on your face. If that happens, you pick yourself up.

Surround Yourself With Smart People

“If you build a team of people, you can do extraordinary things around the world,” Branson said. “From a young age, I was lucky to surround myself with great people.” 

He laughed as he recalled a business meeting where a board member pulled him aside and asked, ‘Richard, you don’t know the difference between net and gross?’ He admitted he did not.

His strategy is to look for people who are passionate and create an enjoyable work environment for them.

Live To Do Things Better

“I certainly didn’t have a grand vision,” shared Branson. “The more you travel and the more you can read about what is going on in this world, you can see opportunities.”

His airline idea started when he was bumped from a flight to a place where he really wanted to meet a woman. He was determined to get there, so he chartered a plane and sold the empty seats to make the trip.

After the trip, he asked Boeing if they had a plane for sale. He was happy they did not laugh him off the phone and took the time to talk with him. 

“The quality of the airlines are not that great," he said, explaining his thinking back then. "A lot of our businesses started out of personal frustrations. If I am frustrated, it is likely other people are, too.”

Where does he look for opportunities? “Often the industries that are dominated by big players have a lot of soft underbellies,” explained Branson.

For example, he said, “Banks are very big and people don’t trust them. A perfect industry to go into.”

Take Risks, But Be Cautious

“I do take risks,” said Branson. However, he added, “I protected the downside.” 

With the Boeing example, he explained that if he had not been right about the need for a better airline, he would have wanted to give the plane back.

“Every move I make, I wonder how much damage it will do,” said Branson. 

Speaking of the crash of his Virgin Galactic spaceship last year, which killed one pilot and seriously injured another, Branson said he was heartbroken by the incident. Yet, when he asked members of the Focus audience to raise their hands if they still want to take a trip into space, most hands went up. Branson suspects many of the attendees will go into space in their lifetime.

Be Observant

Every time Branson takes one of his planes and talks with the staff, customers and pilots, he said he takes out a notebook and writes down ideas.

For example, one day he noticed something about his flight attendants’ red shoes. “If they are digging into her heals, she is not going to want to smile for the customers,” he said. “The fundamental little details are absolutely critical.”

Be The Brand

Branson believes his adventurous personal life—he is famous for being an experienced daredevil and has set distance records in hot air balloons and raced powerboats across the ocean—helped to build his brand and create awareness for his companies.  

Even when his boat sank, the airline division poked fun at him with an advertisement that ran the following day that said, “Richard, next time take a plane.” 

Be Futuristic

He believes solar power is going to lead to an energy revolution that will transform the world. Solar is going to become so inexpensive people can live off the grid, he said.

Give Back

Branson's humanitarian initiatives range from protecting animals and the oceans to a group called The Elders whose mission is to work for peace and human rights. 

"There is an awful lot more to do," he said, adding that the world could be a better place if every single person adopted a problem.