Rules of Success by Sir Richard Branson

Richard Branson: Principles of Entrepreneurship

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Part 1: Multiple Choice (9 Questions - 9 Points)

1. Richard Branson founded the Virgin Group from what initial business?

A. An airline company
B. A small record shop
C. A transport interest
D. A media company

2. According to Branson, an entrepreneur should turn which of the following into a business?

A. A common hobby
B. A successful product
C. Their passion
D. A major multinational company

3. What is a business essentially about, according to the transcript?

A. Spending a lot of money
B. Becoming a flamboyant character
C. Filling a gap and doing it better
D. Only starting ventures that nobody has thought of before

4. What quality does Branson say most people who have a good idea lack, causing them to fail to start a business?

A. Money
B. Courage
C. Passion
D. Teamwork

5. What is the key to pushing on when people tell you that your idea will never work?

A. Ignoring the criticism
B. Having patience
C. Believing with passion in what you're doing
D. Trying a different approach immediately

6. How does Branson describe his general outlook on life?

A. Glass half full
B. Glass nearly full
C. Negative and cautious
D. Realistic and reserved

7. What is the absolute key to being a successful entrepreneur, according to the speech?

A. Having great ideas
B. How good you are with people
C. Avoiding bad times
D. Working day and night

8. What should a leader never use, replacing it with "we" or "team"?

A. The team's name
B. The competitor's name
C. The "I" word
D. Criticism

9. What is the first thing an entrepreneur needs to do to have a chance of building a business?

A. Get funding and investment
B. Hire the best people
C. Come up with an idea that will make a positive difference
D. Be determined to succeed

Part 2: Short Answer (1 Question - 1 Point)

10. (1 Point) Richard Branson mentions 5 key actions/principles for success in the conclusion. List at least 3 of them. (List in the text: 1. Pick yourself up/try again; 2. Come up with an idea that makes a positive difference; 3. Play hard; 4. Work hard; 5. Follow certain principles/Love people/Make a positive difference in the world.)

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