- Competition (n.) - the person or people with whom one is competing; a commercial opposition - can also use competitor
eg. Samsung is Apple's competition in the cell phone market.
- Differentiate (v.) - recognize what makes something different - differentiation (n.)
eg. The Ferrari is a luxury sports car that differentiate from the Fiat.
- Substitute (v.) - to use in place of something - substitute (n.)
eg. Apple is a substitute fruit to the orange.
- Obsolete (adj.) - no longer produced or used; out of date - obsolete (v.)
eg. When the iPhone entered the market, the Blackberry was obsolete.
- Entrepreneur (n.) - a person who organizes and operates a new business and takes on financial risk of the business.
eg. Steve Jobs was an entrepreneur in the Apple company.
- Valuation (n.) - an estimation of someone's worth, especially when performed by a professional appraiser
eg. The valuation of this company was $1.5 million.
- Share (n.) - one of the equal parts into which a company's actual worth is divided
eg. He owns 35% share of the company.
- Equity (n.) - the value of shares issued by the company
eg. The 35% equity of the company is $400,000.
Wednesday, July 26, 2017
Business vocabulary
Here is a list of business vocabulary that you need to use in your presentation:
Common business idioms
Idiom - a group of words used together to give a meaning that is not easily explained by the literal meaning of the words.
Examples:
- Raining cats and dogs
- See the light
- Over the moon
Presentation language
Look at presentation language:
Beginning:
Middle:
Conclusion:
Signpost language is very important. We encourage you to visit the link below and get familiar with some signpost language; and then use them in your presentation.
Here is some suggestions to structure your presentation:
Beginning:
Today, I will be talking about...
I am going to take a look at...
It is important to begin by saying...
Middle:
I consider...important, because...
Firstly, secondly, thirdly...
Now I’d like to look at...
On the one hand...on the other hand...
Conclusion:
To sum up...
In general...
On the whole...
To conclude, I would say that...
That brings me to the end...
Dragons Den lesson
In a group, you will create a product to show to Dragons Den, and a panel of investors who may want to invest in you.
First, come up with an idea. Developing the product or service is the first step. You need to create something UNIQUE and WORTH BUYING!
Next, think about your customers
Developing your company behind the product
Now test out the market
Now create your presentation, practice, and get ready to pitch this idea!!!!!
First, come up with an idea. Developing the product or service is the first step. You need to create something UNIQUE and WORTH BUYING!
- What are the features of the product or service?
- What is the design the look (packaging) of the product? Outline its purpose.
- How is this different from products or services that already exist in the market?
Next, think about your customers
- Who would your buyers be? Describe them; men or women, children between certain ages, someone with an exceptionality etc. Outline how this product is directed AT THEM
- Based on this, what would you charge for the product?
- Do you have a patent? (Say you file a patent for the product. It stops others from developing a similar idea!)
Developing your company behind the product
- Come up with a name for your company.
- Come up with a slogan for your company and the product.
- Do you have a logo?
Now test out the market
- Have a friend or family member use the product
- What did they think about it?
- You may want to include them in your presentation as a firsthand account. Or you can have quotes from people who tried it and loved it
- How many of this product do you want to make?
- How much will it cost you to do so?
- Consider employees needed, a space to make the product in, how much you will sell it for to make a profit, etc. YOU WANT TO GET PAID
Now create your presentation, practice, and get ready to pitch this idea!!!!!
Subscribe to:
Posts (Atom)