SECTION 3:1 TEST

1. According to Jeff Bezos, what is crucial for achieving your vision?
A) Being stubborn about the details and flexible with your vision
B) Being flexible about the details but stubborn on your vision
C) Focusing only on short-term gains
D) Ignoring the need for long-term planning

2. How does Elon Musk exemplify long-term thinking?
A) By focusing only on immediate financial returns
B) By breaking his grand vision into achievable steps, such as developing reusable rockets
C) By setting vague, undefined goals
D) By avoiding risk and focusing on small projects

3. What key idea does Simon Sinek emphasize in his philosophy about vision?
A) People buy what you do, not why you do it
B) Having a clear “why” gives your business meaning and attracts like-minded people
C) Businesses should focus only on what they sell, not why they sell it
D) Vision is irrelevant to business success

4. What does Warren Buffett suggest about long-term thinking?
A) Quick wins are the key to success
B) Long-term investments, like planting a tree, yield benefits over time
C) Short-term sacrifices are never necessary
D) The focus should always be on immediate rewards

5. Why is long-term thinking important for entrepreneurs?
A) It allows for quick financial success
B) It helps focus on sustained growth and allows for strategic adjustments over time
C) It eliminates the need for a strong vision
D) It is only important for large companies, not startups

Answers:

1. B) Being flexible about the details but stubborn on your vision
2. B) By breaking his grand vision into achievable steps, such as developing reusable rockets
3. B) Having a clear “why” gives your business meaning and attracts like-minded people
4. B) Long-term investments, like planting a tree, yield benefits over time
5. B) It helps focus on sustained growth and allows for strategic adjustments over time