Vocabulary

Leadership – лидерство

Management styles – стиль управления

To head – возглавлять, руководить

Long-term goals – долгосрочные цели

Target - цель

To clear business vision – четкое представление бизнеса

Working environment – рабочая атмосфера

Relationship – взаимоотношения, отношения

Employee - работник

Subordinates’ work – работа подчиненных

Staff – штат

To inspire – вдохновлять

Reward – награда

To delegate – делегировать, передавать полномочия, уполномочивать

Reluctance – неохота, нежелание

To train – тренировать, подготавливать

To improve – улучшать

Weak areas – слабые места

Success in business

A start-up is a new business. Many people decide to start up their own business because they have what they think is a good business idea and they want to become entrepreneurs. But it’s important to prepare a good business plan before you start. You need to know if there is a demand for the products or services you want to offer.

If you want to start your business, you are to know some definite information. First of all you should believe in success and do all your best to succeed, because everything depends upon you and your abilities. There are some factors that contribute to making a company a success or a failure. From the initial concept to getting a business off the ground and making it success takes vision, energy and organization. It often starts with the spotting a gap in the market that existing companies are not fulfilling. Research then needs to be carried out to discover if there is a demand for the product or service being offered.

One of the biggest hurdles for a start-up (new business) can be arranging the finding for their venture. The first step is to approach banks with a good business plan, to see if they will agree a business loan. Don’t forget that planning is an essential ingredient for a successful business. Another option is to start a company with a partner or partners, so that the initial financial outlay is shared between two or more people. If a company is high risk, it might have difficulty attracting funding from the traditional sources, so you may need to approach a venture capitalist company. In return for their investment, they would require a proportion of the new company’s profits.

If the person has enough funds to set up a company without requiring investors, he become the sole proprietor, that means he will get all the profits if the company is a success, but is also financially responsible for the debts the company can have. After getting it off the ground, a clear business strategy is an important factor in taking a company forward and making it a success. This includes being able to communicate the USP (unique selling point) of your company’s product or service and being aware of competitors. A company also has to be able to manage change. As markets change and develop, a company must be able to react fast and change its business approach, otherwise customer will move elsewhere. Besides you must have at least a basic understanding of trading laws, which protect consumers, employees, the general public and businesses as well.

Shortly speaking if you want to set your own business and be a successful businessman, you ought to follow five important steps:

• Develop a new product idea,

• Conduct market research

• Prepare a good business plan

• Get finance

• Build a customer base

If you can make a business plan, finance the operation, find customers, and beat the completion, you have a good chance of making a profit. Then you can call your business a success.