BUSINESS Vocabulary
To balance the books: to not spend more money than you are earning.
Sentence– It is very important to balance the books for making a business successful.
To be self-employed: to work for yourself/to not work for an employer.
Sentence– Majority of people is self employed in India.
To cold call: to make a sales call to someone without asking them for permission first.
Sentence– Sale executive of different companies make cold calls to boost their sales.
Cut throat competition: when one company lowers its prices, forcing other companies to do the same, sometimes to a point where business becomes unprofitable.
Sentence– There is a cut throat competition in telecom industry.
To do market research: to do research into what potential customers would or wouldn’t buy.
Sentence– It better to do market research before launching any product.
To draw up a business plan: to write a plan for a new business.
Sentence– Most of the entrepreneur hire professionals to draw a business plan.
To drum up business: to try to get customers.
Sentence– Many lucrative discounts and sales are introduced in the market by big companies to drum up business.
To earn a living: to earn money.
Sentence– It’s important to do some work to earn a living.
To go bust: when a business is forced to close because it is unsuccessful.
Sentence– Due to corona virus many business go bust.
Cash flow: the money coming in and going out of a business.
Sentence– Monitoring cash flow is a difficult job.