Task 4
Questions 20-25
You will hear a radio interview with Paul Davies about his startup company.
For each question (20-25), choose the correct answer (A, B or C).
You will hear the recording twice.
Interviewer: Today we are talking to Paul Davies, a young businessman who has recently founded his startup company. Hello, Paul. Thanks for joining us today. Congratulations.
Paul: Thanks for having me. It's been quite a journey.
I: So why did you start your own company in the first place?
P: I know many people would rather work for a well-known company because big companies typically attract the best of the best. I have always been fascinated, though, by the idea of starting something from scratch and making it grow. My father's initial idea was to work together, shoulder to shoulder, in his company with a weak brand identity, which would've been too much of a hassle.
I: What is your core business?
P: Most companies of this kind focus on developing innovative solutions, trying to enhance productivity and cost effectiveness for other businesses. I saw so much need to simplify data analysis and decision making as they're often seen as too complex. I wanted to bridge that gap.
I: Sounds great. What have been some of the biggest challenges you've faced so far?
P: Well, it's next to impossible to convince investors to believe in your vision and not to mention marketing and sales. And there is no place for young business minds on the market because you need to establish credibility first. I was lucky with these things. Making a dedicated team, though, that shares the same passion, took lots of time because everyone I had at first just wanted easy money.
I: I believe many young people are listening to us now. What would you suggest to someone who is thinking about starting their own business?
P: Above all, start small, scale gradually, and when you gather feedback, adjust if needed. Don't be afraid. Sometimes, setbacks can be a learning opportunity too. Also, surrounding yourself with people who are smarter than you and who share your vision is a plus.
I: That's a good idea, but what are the disadvantages of small business ownership?
P: Well, I wish I'd established personal boundaries. Initially, there was some expected hesitation, although we have been getting positive feedback. Luckily, our client base is slowly growing, which was our major concern at the beginning.
I: What about your future plans and projects?
P: We are hoping to enter new markets, but our main goal is to take on somebody who has skillsets we haven't got yet. Maybe we'll even explore partnerships with other companies to integrate our tools into broader platforms. We'll see about that.
I: Best of luck with your plans, Paul.
P: Thanks.
Why did Paul set up a company?
What is Paul currently focused on in particular?
What was the biggest problem for Paul at the start?
According to Paul, what is the most important thing in business?
What is the most negative aspect of Paul's job?
What is Paul's priority for the future?