No matter where you start, or what products and services you provide, Virgin Group founder and CEO Richard Branson has five basic rules for any successful entrepreneur:

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  1. Be financially savvy. As you raise capital, think about what you really need. While a swank office can be nice, the money could be better spent on new hires or technology.
  2. Choose a dynamic name. Convey what you're selling and help customers keep you at the top of their minds.
  3. Sell memorable merchandise. Be a source for products that are unique and that won’t be replicated elsewhere. Put your stamp on everything you do. 
  4. Make waves. Learn your industry inside-out and find ways to set yourself apart from the competition.
  5. Follow through. Keep in touch with you customers and build lasting relationships with them through attentive, personalized service. 

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For more of Branson's take on starting up strong, check out the video above.