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Starting your own Business

Warm Up Work with a partner.

Can you name some famous entrepreneurs in your country?

 Reading

Read the following text, and fill in the spaces using a word from the box below.

For many people, working in a large company can be less than rewarding. You are just one 1
cog in a very large machine. Feeling undervalued, and facing yet another performance review,
perhaps your thoughts turn to the idea of handing in your notice, and setting up your own
business.

1
Many people ……………… of working for themselves. However, the risks involved are very 5
great, and the majority of businesses don't survive beyond their first year. The key, business
experts say, is thorough preparation, and an understanding of the challenges that lie ahead.

The most important thing is to have a realistic, detailed business plan. Check how much
people are willing to pay for your product. A lack of market research is a common reason for
2
business failure. You can start by asking friends and family for their ……………… . It’s also a 10
good idea to ask for feedback from people using competitors’ products.

Many businesses run into trouble because the entrepreneur has not drawn up a proper
business plan. It’s vital to write one down, as this will help show whether the plan is viable or
not.

3
Setting up your own business can also be a very ……………… experience. Working for a 15
larger company may be unfulfilling, but there is always the reassurance of (some) job
security, social security payments, sick leave and paid time off.

For many entrepreneurs, one of the biggest worries is the effect on family life. Starting a
business almost invariably means long working hours and a lack of time off. It’s important
that entrepreneurs are able to get the support they need from those around them. 20

Despite the risks, many people choose to take up the challenge of starting a business. With
4
detailed planning, commitment, and perhaps a little ………………, it’s possible to escape the
routine of working for another company and really make a difference in the business world.

Choose From  opinions  stressful  luck  dream

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 Vocabulary Building #1

In the context of this article, choose the best explanation for the following phrases:

1) To hand in your notice is to A) realize that you want a change

B) tell your company you’re quitting
C) take a risk

2) If something lies ahead, A) it is hidden from you

B) it isn’t always true
C) it is in the future

3) If you run into trouble, A) you are surprised

B) you experience problems
C) you fail

4) If something is vital, A) it’s very important

B) it’s quite a good idea
C) it’s compulsory

5) A viable plan A) could succeed

B) will definitely succeed
C) is unlikely to succeed

6) If someone invariably works long hours, he/she A) is forced to work long hours
B) always works long hours
C) sometimes works long hours

 Vocabulary Building #2 Rewrite the sentences using the language from exercise 3.

1) This product isn’t going to be possible. There’s no way we can make a profit.

2) Marc was fed up with his boss, so he decided to quit.

3) In Siberia, it always snows in winter.

4) If you want a business to succeed, it’s very important to carry out market research.

5) What is going to happen in the future to the US economy?

6) Tom’s new business had problems, because he didn’t draw up a business plan.

 Role-play

Student A
You are planning to quit your job and start
your own company.
Think about what kind of business you’d
like to start.
Student B is a small business consultant.
Ask for advice on starting your company.
Student B
You are a consultant for small businesses.
Student A is planning to start a company,
and would like some advice.
Answer his/her questions. You can also
ask questions to find out more details
about Students A’s business plans.

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 Discussion Ask your partner(s) these questions. Ask follow-up questions!

Do you admire the entrepreneurs you wrote down in exercise one?

What do you think is most important when starting your own business?

Do you feel like a ‘small cog in a big machine’? Why (not)?

If you started your own company, what product or service would you sell?

Have you ever seriously thought about starting your own business?

Has anyone in your family ever started their own business?

Your questions!

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A
HAND IN YOUR A BUSINESS
PERFORMANCE
NOTICE PLAN
REVIEW

MARKET RUN INTO

LIE AHEAD
RESEARCH TROUBLE

SOCIAL
JOB SECURITY SECURITY PAID TIME OFF
PAYMENTS

SICK LEAVE INVARIABLY REALISTIC

VITAL RISKS VIABLE

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Starting your own Business: Teaching Notes

Target Structures: N/A (Reading, Speaking, Vocabulary)

Vocabulary: General
Level: Intermediate – Upper Intermediate
Time: 60 minutes
Preparation: Cut up cards (1 set per pair/small group)

Suggested Teaching Method:

This worksheet can be used in both business English and general lessons.

There is a reading exercise, collocation / idiom practice with a role-play, discussion questions and A vocabulary
card game.

Give one worksheet to each student. Follow the instructions for exercise one. This should be quite brief: the main discussion
questions are at the end.

 Before reading the text, you should set the reading task. Draw your students’ attention to the words in the box below the
reading text. Explain that they should read the text quickly, and fill in the blanks.

Go through the answers to the reading task.

 Students can work in pairs. Begin by having students scan the text for the phrases. Explain that they can refer to the text
while doing this exercise. Go through the answers with the group. When finished, answer any other pressing vocabulary
concerns from the text.

 Follow the instructions on the student sheet. Do one as an example. Go through the answers at the end.

 Assign pairs, making sure that students are working with someone they haven’t worked with already in this lesson, if
possible.

Students should read the cards. Allow a few minutes preparation time. Student ‘A’ can think of some questions to ask about
the book. Student ‘B’ should try to anticipate the questions, and think of some answers.

When the students do the role-play, make sure the conversation starts with a natural lead in. (“So how can I help you…?”

 Leave plenty of time for class discussion. To maximize student talking time, it’s best to put students in pairs, or small
groups. Try to have students working with people they haven’t spoken to in the other exercises.

Students should read all the questions first, before beginning the discussion.

Encourage eye contact and follow-up questions.

While the students are speaking, monitor the conversations, but try not to interrupt. When the discussion comes to a close,
ask a few of the questions yourself, and go through any points of English you made a note of while monitoring.

CARDS These cards can be used during the lesson, or as a review exercise the next week. Make one set for each group or pair of
students. Place them face down in a pile. Students take turns. One student takes a card and has to explain the word so that
the other student(s) can guess what it written. The first group to finish all the cards is the winner.

The answer key is on the next page.

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Answer Key (Other answers may be possible.)

 1) dream
2) opinions
3) stressful
4) luck

 1) To hand in your notice is to A) realize that you want a change

B) tell your company you’re quitting
C) take a risk

2) If something lies ahead, A) it is hidden from you

B) it isn’t always true
C) it is in the future

3) If you run into trouble, A) you are surprised

B) you experience problems
C) you fail

4) If something is vital, A) it’s very important

B) it’s quite a good idea
C) it’s compulsory

5) A viable plan A) could succeed

B) will definitely succeed
C) is unlikely to succeed

6) If someone invariably works long hours, he/she A) is forced to work long hours
B) always works long hours
C) sometimes works long hours

 1) This product isn’t viable. There’s no way we can make a profit.

2) Marc was fed up with his boss, so he handed in his notice.

3) In Siberia, it invariably snows in winter.

4) If you want a business to succeed, it’s vital to carry out market research.

5) What lies ahead for the US economy?

6) Tom’s new business ran into trouble, because he didn’t draw up a business plan.

Updated 2/24/2009

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