Instructions: Go through the vocabulary below with your students. Next, ask them to use this vocabulary in the conversation section below.
Useful Phrasal Verbs
- To cash in on – To take advantage of an opportunity, often related to a trend or market demand.
Example Sentence: “They decided to cash in on the growing interest in sustainable products.”
- To phase out– To gradually reduce or eliminate a product, service, or practice.
Example Sentence: “They are phasing out their older product line.”
- To branch out – To expand or diversify a business into new products, services, or markets.
Example Sentence: “They want to branch out into international markets.”
- To take on – To hire employees or new partners for a business.
Example Sentence: “They need to take on more staff to handle the increased workload.”
- To pull in – To attract customers or clients to the business.
Example Sentence: “Their marketing efforts helped pull in a lot of new customers.”
Useful Vocabulary Words
- Entrepreneur: A person who starts and manages a business, taking on financial risks in the hope of making a profit.
- Capital: The money and assets needed to start and operate a business.
- Market Research: The process of collecting and analyzing information about potential customers and the market.
- Pitch: A presentation given to investors or potential partners to persuade them to support the business.
- Sole Proprietorship: A business structure owned and operated by a single individual.
- E-commerce: The buying and selling of goods or services over the internet.
- Franchise: A business model in which individuals or companies can buy the rights to operate under an established brand.
- Launch: The initial release of a new product or service to the public.
ESL Conversation Questions
- Do you think it’s better to start a business from scratch or to buy an existing business? Why?
- Have you ever considered starting your own business? If so, what kind of business would you like to start?
- What factors do you think are important when deciding to start a business, and why?
- What do you believe are the advantages and disadvantages of being an entrepreneur or business owner?
- What are some common challenges that new businesses face, and how can they be overcome?
- Can you think of any examples of businesses that started small and grew into large, successful companies? What do you think contributed to their success?
- How can conducting market research assist someone who is in the planning stages of starting a business
- What qualities are important for successful entrepreneurs to have?
- Do you think it is better to start a business alone or with a partner?
- Is it better to focus on a niche market or have a broader audience when starting a business?
- Do you think it is necessary for entrepreneurs to take risks in order to be successful?
- Can you give an example of a successful business that has carved out a niche in a competitive market?
- Are there any franchises in your area that have been particularly successful? What makes them stand out?
- How important is a compelling pitch when seeking investment or partnership opportunities for a business?
- Can you give an example of a company that has successfully cashed in on a current trend or demand?
- Can you think of a time when a business tried to cash in on a trend, but it backfired or resulted in negative public perception? What happened?
- How has the internet and social media influenced the ability of businesses to cash in on viral trends and phenomena?
- What are some products or technologies you’ve seen being phased out in recent years? Why do you think this happens?
- Can you think of any examples of local businesses that have successfully branched out into new markets or expanded their product lines?
- What do you think are the advantages of a business choosing to branch out rather than focusing on one niche product or service?
- How can small, local businesses effectively branch out and reach a broader customer base or expand into new markets?
- Are there any risks associated with a business’s decision to branch out, and if so, what are they?
- When a business takes on new employees, what qualities or skills do you think are important to consider in potential candidates?
- What challenges might a business face when taking on a new partner or investor, and how can these be addressed?
- In your opinion, is it better for a business to take on a loan or seek investors when they need additional capital?
- How can businesses effectively pull in customers in a competitive market? What strategies have you observed?
- Have you ever seen a marketing campaign that was particularly successful in pulling in a large audience or customer base?
- What role does social media play in helping businesses pull in new customers, and how do you think this has changed over time?
- How important is branding and image in pulling in customers to a business, and can you think of any businesses that excel in this area?
