Introduction 

 this lesson I'm going to teach you some very important business english vocabulary that you must know, plus at the end of this video, I'm going to talk about a very common mistake. Students usually make with the word business so make sure you watch the video to the end. You know what I really want to start my own business, so I asked a friend of mine who's, a business owner for some advice. Let's see what he has to say, the first thing you need is a business plan. If you are on a tight budget, you may be able to put forward your business plan to a bank manager to take out a loan, but remember launching a new business is very risky, so do proper market research interesting right, let's have another look together. The first thing you need is a business plan. What is a business plan? A business plan is a plan showing the future objectives of a business and strategies on how to achieve them. That is a business plan. If you are on a tight budget, what does it mean to be on a tight budget to be on a tight budget means you don't have much money to start your business. So if you are on a tight budget, you may be able to put forward your business plan. What does it mean to put forward?


It means to propose 

 for someone else's consideration, so you may be able to put forward your business plan to a bank manager why to take out a loan. What is a loan loan is the money you borrow from the bank to start your own business or to do something with it now the verb we use with the word loan is to take out, so you may be able to take out a loan from the bank, it means you ask the bank to give you some money so that you can start your own business. Let's continue but remember, launching a business is very risky. What does it mean launch a business to launch? Something means to start it for the first time to initiate it. So launching a business means to starting your business and it can be risky which means it can have some dangers now we will talk about the word risky because it's a very interesting word and the last part so do proper market research.

Marketing Research Business 

What is market research, market research means to gather information about your potential customers and the consumer's needs and desires. Now about the word, risk risk is a noun and it can also be a verb. The adjective is risky. Now, let's take a look at the noun risk. What adjectives can we use with the noun risk if the risk of something is big, you can say substantial risk major risk, considerable risk. If it is dangerous, if the risk is really high, you can say grave risk. What verbs can we use with risk? You can say take risks as a business owner. You need to take risks right, you can say face risks. Your business will face a lot of risks. You can also say entail risk. If something entails risk. It means it has risk. It is risky. It will bring about risks right, you can mix them together and make interesting sentences like starting a business entails considerable risks or, as a new business owner, you need to face grave risks.


Manufacturing Products Business 

Alright, back to my friend for the rest of his advice after you set up your firm, you can start rolling out new products before you start manufacturing your product make sure you have enough potential customers. Remember you have to give priority to your customers. Customer care is crucial for any successful business. Let's have another look together and learn the new vocabulary after you set up your firm. What does it mean to set up a firm firm is another word for business for company right set up your firm means to establish your firm or establish your business or launch your business. So after you set up your firm, you can start rolling out new products to roll out new products, means to officially launch and introduce new products before you start manufacturing your product. What is manufacturing to manufacture something means to mass produce, something using machinery so before you start manufacturing your product, make sure you have enough potential customers, potential customers who are they well?


product to customer 

Customers are the people who want to buy and purchase your product potential customer is a customer who may be willing to buy your product right. Remember you have to give priority to your customers. What does it mean, give priority to someone to give priority to something means to consider something more important than other things, to give priority to someone means to consider someone more important than other people, so you need to give priority to your customers. It means your customers are way more important than your profit or your company or your firm or your products. Customer care is crucial for any successful business. Now. What is customer care? It means listening to your customers taking care of your customers, supporting your customers, customer care. Okay enough with the business advice from my friend the business owner now, my father's friend is a ceo. What is a ceo? It stands for chief executive officer, which is the highest rank in an organization. It basically means the boss. Now the ceo is going to give us four tips about starting a business. Let's listen to her.


listen to her start a business 

When you start, you have to build contacts, that's crucial! You may not make a profit immediately, so be patient you will face stiff competition, get regular feedback from your customers, and now, let's have another, look at the four tips together to learn some new vocabulary. When you start, you have to build contacts, that's crucial. What does it mean to build contact? Well, contact is basically all the people, all the businesses, all the suppliers that you as a business owner, have relationship with to build contact means to grow your network. It means you need to become familiar with more and more and more business owners and suppliers. That's crucial crucial means very important. That is crucial, tip number two. You may not make a profit immediately, so be patient. What is a profit? Well, imagine I have a company producing joysticks for xbox. Now the cost of production of one joystick is a hundred dollars. For example, I sell this joystick for hundred and fifty dollars. How much is my profit fifty dollars? So profit is basically the money you receive, apart from the cost of production, to make a profit means to earn that amount of money


Competition in Business 

So you might not make a profit immediately, so be patient tip number three you will face stiff competition. Competition is basically the effort of other businesses to win your potential customers. What is the verb? We use with competition to face competition and what is a good adjective to say, strong competition, you can say stiff so to face stiff competition, means that your opponents, other businesses, are trying to win your customer. You need to compete with them and tip number four get regular feedback from your customers. What is feedback feedback is basically asking your customers for their opinion. How was my product? How was my joystick? Did you like it? Did you have a good shopping experience with us? Did you like our website? Was it easy to purchase this product that is asking for feedback or getting feedback? A very important point. Guys feedback cannot be a plural noun.


We don't say feedbacks

 It is always singular get feedback from somebody all right and now time for the common mistake using the word business, but before we get to the common mistake, if you want to receive the lesson summary of this video and every other video the moment I post them on youtube all you have to do is to go to my website. Pocenglish.com enter your email address and click subscribe. The link to my website is down in the descriptions plus if you're, enjoying this video, give it a thumbs up and if you're new to my channel click subscribe and now for the common mistake is the word business, countable or uncountable.


Well, both what does it mean?

 Look at this sentence: we hope to do more business in europe. We hope to do more business in europe. In this case, business is uncountable. You cannot say more businesses. Why? Because business here refers to the activity that you're carrying out, for example, if I am selling joysticks and if I say we need to do more business in europe, it means we need to sell more joysticks. Business in this case is selling joysticks. It is the activity, however, look at the other sentence. There are many new businesses online. There are many new businesses online. In this case, business is countable. Why? Because it doesn't refer to the activity it refers to the firms to the organizations to the companies. There are more and more and more online businesses, online companies, online firms or firms providing online services, so in a nutshell, business as activities that you carry out is uncountable, but business as an entity as a firm or as a company or as an organization is countable, and that's it guys. I hope you've enjoyed this business. English lesson don't forget to. Let me know what you think in the comments down below see ya