In business

• business and commerce
• words and phrases made from the word market
• reporting orders / instructions, advice and warnings
• noun phrases made from phrasal verbs
• causatives (have / get something done)
• fixed phrases with in or on + noun
• writing business letters and emails

Starting a business: the ICT start-up story

Information and Communications Technology businesses could be the best hope for the economic future of Palestine, according to experts inside and outside the country. A recent report said that the ICT sector makes up over 5% of the Palestinian economy.

1 What problems might you face when starting a new business?

2 Are there any particular problems a new business might have in Palestine?

3 In Palestine, why might an Internet-based company be easier to start than, for example, a company that makes things?

Mustafa's story: words, questions and the seven steps

1 Find words highlighted in the text that have these meanings.

1 send to other places ___

2 try ___

3 relating to pictures ___

4 part of a country’s economy

5 at the moment ___

6 event that made a big difference ___

7 profits ___

8 not having (enough) ___

9 concerned with helping people ___

10 managing

1 After months of trying to find a solution, they finally made a ___ .

2 A good transport system is needed to ___ products around the country.

3 He made a lot of mistakes because of his ___ of experience.

4 Several ___ organisations have sent medical supplies to the area.

5 The country’s financial ___ has done better than other areas of the economy.

6 ___ explanations are easier to understand than written words.

7 ICT start-ups are ___ growing faster than any other kind of company.

8 The ___ on this kind of investment are quite low at the moment.

9 Don’t forget that ___ your own company is hard work.

10 It was a good ___ , but it didn’t quite succeed.

1 Who says that ICT companies are important for the future of Palestine?

2 What is the biggest problem for ICT companies in Palestine?

3 How did Mustafa learn to make computer software?

4 What did Mustafa find most useful about the start-up weekend in Ramallah?

5 What are Mustafa’s two aims in business?

6 What does Mustafa hope to do at the next start-up weekend?

Seven steps and three young business people

Now the next task.

• SEVEN STEPS TO STARTING YOUR OWN BUSINESS
• 1 Have an idea
• 2 Take advice
• 3 Do your research
• 4 Develop your product
• 5 Get financial support
• 6 Market the product
• 7 Look to the future
• You can’t stand still in business. You have to keep thinking ahead to what comes next.
• There’s no point in having a great product if nobody knows about it.
• Think of something people would find really helpful and would pay money for.
• There’s lots of help out there, from friends and family or on the Internet, so use it.
• Would people really welcome what you’re offering? Are there possible competitors providing something similar? If so, how is your idea different?
• You’ll probably need some money to get started, but make sure you don’t end up owing too much or losing control of your company.
• Make the idea a reality. If it’s a physical product, you’ll need to find a way to have it made for you.

Answer the questions. Which person … 1 had help from family members?

2 warns that success doesn’t come easily?

3 learnt from his/her mistakes?

4 advises people not to wait too long?

5 talks about spending priorities?

(It is one of the seven steps in the table.) ___

Words made from «market» and a talk about success

• market research
• marketing
• market value
• financial markets
• market share
• upmarket

1 You need to do ___ to find out if people will buy your product.

2 ___ is a way of letting people know about your product.

3 People buy and sell national currencies on the ___ .

4 Your ___ tells you how much of the market you have compared with your competitors.

5 The ___ of a product is how much you can sell it for.

6 A product described as ___ is a more expensive luxury item.

1 What qualifications and personal qualities do you think are needed to be a successful business person?

2 Do you think you have the right character and attitudes to succeed in business?

• Anyone can do it if they have a good idea, get good advice and have enough determination.
• I’ve got ideas, but I don’t know enough about financial matters.

Reporting advice, warnings and instructions

Use the examples above to fill each gap in these rules.

1 We use the verbs _ to report orders / instructions, and _ to report negative advice.

2 Tell, advise and warn are all followed by an object and the ___ form of the verb.

3 When we use the word not, we put it ___ the object and the infinitive.

4 After all three verbs, we can use that + a clause with a verb in a ___ tense.

5 After advise and warn, we can use against + the ___ form of the verb.

1 ‘You’d better not invest money in that company.’

A financial expert told

A financial expert warned

2 ‘It would be better to spend more money on developing your new products.’ My father advised My father told

3 ‘Remember that the value of investments can go down as well as up.’ The article warned that The article told readers

4 ‘You should do a lot of market research before setting up a company.’ Everyone advised Everyone told me that

5 ‘Don’t spend money on things that you can’t really afford.’ My friend warned My friend advised

6 ‘It’s not a good idea to give up control just to get financial support.’ His advisor warned His advisor told him that

From phrasal verbs to one-word nouns

What is the connection in meaning between the phrasal verb break through and the noun a breakthrough?

1 We were spending too much so we’ve had to introduce some

2 The ___ period between the old manager and the new one was a difficult time.

3 There was a misunderstanding because of a ___ in communications.

4 Please fasten your seat belt during ___ and landing.

5 If this printer doesn’t work, there’s another one on ___ .

6 We need to stop this ___ of our business by a larger company.

• Examples
• If it’s a physical product, you’ll need to find a way to have it made for you.
• Have the figures checked by someone who understands money.
• He learnt a lot about how to get his products noticed.

Have something done: the causative

1 We make the ‘causative’ structure to have / get something done with the verbs _ or , followed by an object and a past __ .

2 We use the structure to talk about actions we don’t do ourselves, but ask / tell / pay someone else to do ___ us.

1 He needs to (his watch) because it’s stopped working.

2 They had to (the kitchen) because of water damage.

3 You should (your hair) before you go for the interview.

4 I must (these letters) by the manager before he leaves.

5 I’m going to (this application) before I send it in case there are any mistakes.

1 You can pay for the goods when you get them. You don’t need to pay before.

Underlined in the book: when you get them, and before.

2 Borrowing can be a problem. You don’t want to find yourself owing people money.

Underlined in the book: owing people money.

3 The company is in the risky situation of having to close.

Underlined in the book: in the risky situation.

4 The new product will be available to buy from next month.

Underlined in the book: available to buy.

5 You have to apply for this job with a letter, not by phone or email.

Underlined in the book: with a letter, not by phone or email.

Reading and answering a business letter

1 Who is Carlo Andretti?

2 Who is Ralph Allen?

3 What does Mr Andretti’s company want to buy?

4 What is the main information they want?

5 What else do they need to know?

• Thank her for the reply.
• Place an order for 120 switches.
• Say that you are looking forward to receiving the order.
• Say that you will pay on receipt.

Chasing a late payment politely

1 Who wrote the initial letter? ___

2 What was the letter enquiring about? ___

3 Who wrote the first reply? ___

4 What did Kino Machine Tools order from Bestelec Ltd? ___

5 Who wrote the second reply? ___

1 What is the problem?

2 What possible reasons might there be for the problem?