Business Flashcards
Go into business
If you don’t want to work for someone else, you can go into business for yourself.
Set up a company
Establish a company
You can set up a company in an industry that interests you.
Do market research
Investigate the market
It is always good to do market research to determine if there’s a need for your product or service.
Operate at a loos
The business is losing money
It is normal for small businesses to operate at a loss for the first couple of years before they start to break even - that’s when the money coming in equals the money going out.
Break even
It is normal for small businesses to operate at a loss for the first couple of years before they start to break even — that’s when the money coming in equals the money going out.
Tough competition
If there is tough competition and your start-up isn’t able to gain market share, then your business runs the risk of going bankrupt (or going under)
Going under
Going bankrupt
If there is tough competition and your start-up isn’t able to gain market share, then your business runs the risk of going bankrupt (or going under).
Making a profit
If the amount of money coming into the company from sales is greater than the amount spent on expenses, then you are making a profit.
Hire / take on staff/employees
As your business grows, you can hire/take on staff/employees.
Make a deal
Another possibility is to make a deal with other companies to do business together - in this case, representatives from both companies will sign a contract that establishes each party’s rights and responsibilities.
Representatives
Another possibility is to make a deal with other companies to do business together - in this case, representatives from both companies will sign a contract that establishes each party’s rights and responsibilities.
Launch a new product
Whenever you’re planning to launch a new product, it’s essential to provide excellent customer services.
Take their business elsewhere
Whenever you’re planning to launch a new product, it’s essential to provide excellent customer service. Otherwise, your customers will take their business elsewhere.
Rival company
If you don’t provide customer service, your customers will take their business elsewhere — they’ll start buying from a rival company instead of from yours.
Run a business
Manage a business
It is not easy to run a business, but with a combination of luck, skill, and hard work, your business just might take off.
