As part of a series of online commencement speeches on Linkedin, Richard Branson advised new graduates to “do something bold.”

The billionaire founder of the Virgin megabrand dropped out of school at the age of 15 after his headmaster told him he could no longer work on his magazine, Student, while a student at the school. But despite his lack of formal education, Branson still feels it is “absolutely crucial to success and to the progress of the world at large.”

Below are the most important tips from his online speech.

Work on What You Love

No matter what field your degree is in, you should do what you love, says Branson.

Everyone should be able to find ways to apply their education to whatever they’re truly passionate about. Branson credits his company’s expansion into a variety of enterprises to his own “insatiable curiosity to enjoy new experiences and pursue fresh challenges.”

Be Ambitious

When an opportunity presents itself, jump right in.

Branson advises graduates to put their wealth of time and freedom into something they love doing early on. For instance, if you find yourself in an unexciting position at a company and discover an opportunity to move into something more exciting, take it. There’s no reason to feel trapped right out of school. You have an entire lifetime for that.

And if things don’t go according to plan, cope and move on to something new.

If Possible, Travel

Just as college isn’t really about what you learn in the classroom, traveling isn’t really about jetting off to an exotic location.

“Take on new experiences and draw upon those when it comes to making the decisions that will shape your future,” Branson says. You may even discover the next big thing while traveling. “If you don’t want to reinvent the wheel, you may find a business that works in another market that could be adapted for your own.”

Never Stop Learning

Every experience is an opportunity to learn — whether through travel, jobs, relationships, or a long line at the grocery store — there’s always something new to take away.

Related: What You Should Have When You Graduate

Image: Fast Company

Richard Branson, courtesy of Fast Company