Off the top of my head [idiom]
if you say something off the top of your head, you
say it without thinking about it for very long or looking at something that has
been written about it
Example: Off the top of my head I could probably only name about three women
artists.
Accustomed
[adj] familiar with something
Example: She quickly became accustomed to his messy ways.
Relevant
[adji] connected with what is happening or being discussed
Example: Education should be relevant to the child's needs.
Circle of friends
[expression] a group of people who like each other because they
have the same interests or hobbies
Example: She is very popular and she has a wide circle of friends.
23. Describe a small business that you would like to open
You should say:
-
What this business would be
-
Where it would be located
-
What people you would hire as employees
And explain why you’d like to have this small business.
It goes without saying that future is quite uncertain and almost no one can predict
exactly what is waiting for them ahead, however, to some extent I always believe that
our future depends on our plans and actions at present. As a fresh graduate, I want to
become an entrepreneur and run a chain of boutique shops selling stylish clothing,
dresses and jewelry. This is probably because ever since I was a kid, I have had a great
passion for designing and sewing pieces of garments, firstly for my doll and then for real
people around me. Gradually, I constantly get more insights into fashion industry and
keep me posted with clothes that are in the thing. Although I am currently majoring in
economics instead of fashion designing, I hold a strong belief that my acute business
sense and a sincere interest in the clothing business will help me to succeed in the
future. Nevertheless, I always have to remind me that opening and running an apparel
store is serious business and that I have to put one hundred percent effort in leading it
to success as well as get ready to face up to failures. I guess that’s why some people
around me wonder why I want to give up the safety of my corporate job with good
compensation package such as steady income, insurance, pension plan, long vacations
and the opportunity for rapid promotion just to become a small business owner. The
answer is indeed quite simple for me, which is I want to walk out of my comfort zone,
challenge myself in a new business and last but not least, give myself a chance to fulfil
my childhood dream.
Vocabulary
Go without saying (that) to be completely obvious or true
To some/a certain/a limited extent (phrase) partly, but not completely
Entrepreneur (noun) someone who uses money to start businesses and make business
deals
Garment (noun) a piece of clothing. This word is used especially when talking about the
production and sale of clothes
Major in (phrase) to study something as your main subject at college or university
Acute (adj) used for describing the senses and abilities of someone who notices things
very quickly and easily
Apparel (noun) a word for clothes, used especially in stores or other businesses
Face up to (something/somebody) to confront with courage someone or something
representing a threat or unpleasantness.
Compensation package (phrase) the salary and other benefits that an employee receives
Comfort zone (idiom) a situation or position in which a person feels secure, comfortable,
or in control
Fulfill one’s dream (collocation) realize a dream, make dream come true
QUESTIONS FOR PART 3
23.1. What challenges and difficulties do people face when they try to have a
successful small business?
I think some of the hardships that small business owners might have to face include
increasing profits and growing revenues while still paying close attention to details
like client relationships. On the other hand, for many small businesses, client
dependence is a huge issue. If a business depends on a single customer for more
than half its income, that should raise a huge red flag, a situation which can threaten
the businesses’ growth and stability.
23.2. What should be the government's role in how small businesses are run?
I personally believe the government should create specific programs to help small
businesses start and continue to grow by offering start-up incentives, providing loan
guarantees and encouraging local banks to work with start-ups or regional
businesses that wish to expand. Lowering corporate taxes and making the
regulatory process simpler can also foster even more small-business growth.
23.3. What are some of the advantages and disadvantages of small businesses
compared to large companies?
One of the advantages of a small business is obviously the relatively low startup
capital needed. Also a small establishment is easier to manage compared to a large
operation since the dealings are usually local and small scale. Keeping track of
inventory, cash flow and transactions is easily manageable as well.
On the other hand, small businesses often lose in the competition for market share
with the already established firms, as many clients would prefer to conduct their
business with large firms rather than the smaller ones which are considered risky.
23.4. How can small businesses benefit the people in the community where the
businesses are located?
In my view, small businesses often give a town a sense of community as they can
meet with the customer more frequently and develop more of a personal
relationship than a large company. In addition, shopping at small, local shops means
that the customers are putting money into the pockets of local workers who may
be their neighbors or even family members, thus enhancing both the town's
standards of living and economic conditions.
23.5. What kinds of small business are most popular in your country?
Probably street food vendors and local convenience stores. Street food has always
been a vital and vibrant part in my country, so as long as the owners can offer high
food quality along with some uniqueness to set their stores apart from other
competitors on the market, I believe the business will achieve at least semi-success.
Meanwhile, local convenience stores are usually guaranteed a loyal customer base
that is the local residents so I think they have a higher chance of breaking even and
increasing the bottom line.
23.6. Why do some people open their own business?
In my opinion, people would rather be their own bosses, looking after themselves,
instead of being observed by higher-ups. In other cases, many startup hopefuls may
have true passion for their jobs and are confident that they know a business should
be run; hence it might motivate them to go out on their own and get directly
involved.
23.7. What qualities does a small business owner need to have?
I think it’s crucial that small business owners maintain a positive outlook and accept
100% of the responsibility for the results of his or her business. They should also focus
on making smart hires and then take the time to get to know and cultivate a good
relationship with their staff, since employees who feel seen, respected and appreciated
almost always produce more than anticipated. Being on the lookout for new
opportunities can also help a prospective entrepreneur get a small business up and
running.
VOCABULARY
Red flag (noun): a sign of danger
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