READING CHALLENGE

According to the reading, what is considered the key to success for many start-up companies?

• High-quality products
• Extensive marketing campaigns
• Large initial funding

What was the initial concept behind Burdon Foods?

• Creating ready meals for health-conscious consumers
• Producing high-quality bedroom accessories
• Offering unique products through the internet

How did Paul Burdon, the owner of Burdon Foods, secure funding to start the business?

• From personal savings
• By borrowing from a bank
• By receiving investments from multiple investors

What played a crucial role in rescuing Burdon Foods from potential failure?

• The founder's expertise in accounts
• The arrival of a brand manager, who was also the founder's brother
• The implementation of extensive marketing strategies

How did Burdon Foods' business model differ from traditional approaches?

• They outsourced the production of dishes to third-party companies.
• They only sold products without producing them.
• They both produced and sold dishes directly.

What is the downside of Burdon Foods' approach to cooking dishes by hand?

• It results in low-quality products.
• It leads to cost-heavy production.
• It increases profit margins significantly.

What led Anna Wright to start Dreamtime as a business?

• Noticing a market gap for high-quality meals
• The desire to offer unique products online
• Identifying a market gap for high-quality bedroom accessories

How did Anna Wright initially launch Dreamtime?

• By opening physical stores
• By borrowing a significant amount of money
• By launching the business through the internet

What does Anna Wright believe is the outcome of prioritizing quality over cost-cutting?

• Lower profit margins
• Increased profits as sales grow
• Stagnant sales and limited growth

According to the reading, what happens when a start-up compromises on quality?

• The company becomes more successful.
• The uniqueness of the company is lost.
• The company's products become less expensive.