How to Speak Start-Up | 10 Essential Business English Words

12,089 views ・ 2018-01-19

Eat Sleep Dream English


Please double-click on the English subtitles below to play the video.

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So you want to be the next Mark Zuckerberg, Steve Jobs or Jack Ma. Well you are in the
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right place because today I'm going to teach you how to speak Start-up with ten super useful
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business English words. All that is coming right up.
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Welcome to Eat Sleep Dream English, if you haven't met me before my name is Tom and I
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teach fresh modern British English so that you can tae your English to the next level
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and achieve your life goals. Today we're looking at start-up English. Now Silicon Valley or
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The Valley as it is also known is changing our world every single day and that includes
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English. Just think about the companies we use for example Google. Google has become
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a verb, to google something. So if you don't know the answer to something you could just
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say 'I'm going to google it.' and that means you are going to search for it online whether
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you use google or not. Think about Uber, the taxi service. We now say 'I'm going to get
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an uber.' Not 'I'm going to get a taxi.' An uber is a taxi but we don't say taxi anymore
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we say an uber. Unless of course you are getting a taxi and then you would say taxi. We even
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use it as a verb 'I'm going to uber it tonight.' Like I'm going to take an uber, a taxi to
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get home. Also think about Netflix, there's a common phrase Netflix and chill. Now you
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can google the meaning of Netflix and chill, I'm not going to tell you. It's a bit rude
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but it's become a phrase. These companies have become part of our every day vocabulary
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and that's why I love language and that's why I love English is because it's changing
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and evolving and these phrases, if you had said them five years ago, people would be
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like 'What are you talking about?' but now everybody knows. So today we're going to look
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at ten words that are a part of the start-up world, business English that you probably
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won't find in your business English text books or course books. Alright, let's get to number
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one. Well let's start with start-up. It's a noun and it's just a very young company,
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a company that is just beginning hence the word start. It's beginning. We often talk
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about a tech start-up, so a technology focused company that is very new. An example sentence
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'I think he works for a tech start-up.' So a tech start-up. Now tech, short for technology
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we use in other ways for example fintech. Fintech is financial technology so it's the
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way we use technology to do things in banking and stuff like that. So tech is a word we
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use a lot these days to mean technology. 'I work in tech.' Now that's the industry of
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technology. So if you work in tech maybe you work for one of these big companies like Google
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or Amazon or whatever. Alright so tech is a great word. Number two is entrepreneur.
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Now an entrepreneur is a person that starts a company so often an entrepreneur will start
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a start-up. That makes sense. Now this is a word that has come from French and we probably
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say it a little bit differently, our pronunciation 'entrepreneur'. So the stress is on the final
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syllable entrepreneur. 'A lot of entrepreneurs move to Silicon Valley.' Number three is co-working
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space. Now this is a shared workplace, so people from different companies are coming
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there to work, it's not just owned by one company, there are people from lots of different
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companies. And the idea is that maybe you rent a desk or you could rent an office. So
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it could be temporary you could work there for a couple of weeks or you could be there
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permanently. Alright let's put that into an example sentence 'There are so many co-working
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spaces now in London.' Number four Angel Investor. This is an individual that puts their money
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into a start-up to help it grow and hopefully become successful. An angel investor. Alright
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let's put that into an example sentence 'The start-up is looking for angel investors to
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grow.' Number five is a business incubator or it's also know as an incubator. This is
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a facility that is provided to very new companies, very new start-ups. They rent space very cheaply
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to help the start-up grow. So they might give support in terms of ideas or management or
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money and it's a kind of cheap place for the start-up to be based and then to grow over
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time. Because obviously starting a company is quite expensive and you know rent is very
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expensive so if you have got a place where the rent is cheap, where you have got good
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facilities, potentially good training facilities then yeah your company will probably grow
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faster and succeed. So an incubator is exactly that, it could be a house or just an office
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facility that's very cheap to help start-ups to grow quickly. If you have ever seen the
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TV series 'Silicon Valley' they are based in an incubator.So if yo want to get to know
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about start-ups and tech business but in a funny way definitely watch Silicon Valley.
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Number six growth hacking. Essentially growth hacking is using experiments to quickly learn
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and change your business strategy or your marketing to grow the quickest way possible.
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So you are finding little tricks to improve the way you do almost everything. So whether
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it's through your marketing or your product development you are learning as quickly as
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you can from your mistakes and improving your processes as quickly as you can. So it could
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be a noun growth hacking or it could be a verb to growth hack. 'If you are an entrepreneur
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you really need to learn how to growth hack.' Number seven is pivot, it's a verb and it
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basically means if a company's original plan isn't working, it's not successful they may
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change the direction of their business. Now it doesn't mean they'll do something totally
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different but it means they'll adapt it or change it in some way. So for example Starbucks,
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they weren't originally a coffee shop. Originally they were founded as a business that sold
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coffee beans and coffee makers and then the owner Howard Schultz decided to pivot and
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start a chain of coffee shops. So they were going in one direction and then they slightly
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changed direction that is to pivot. So they pivoted, would be the past tense. Number eight,
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scalability. Scalability is the ability for a company to grow and to be able to deal with
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increased customers or increased demand. So if something isn't scalable, which is the
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adjective, if something isn't scalable you can't grow it bigger than it is already. Uber
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is a very scalable business because there is not just one person in the world that can
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drive a taxi, there are thousands of people, millions of people that could drive a taxi.
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So that's a very scalable business. So the word is scalability, is the noun and scalable
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is the adjective. So 'Uber never had any problems with scalability.' Number nine, iteration.
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This is a noun and it's the new version of something so it could be a computer programme
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or it could be an English course it could be anything really. So the idea is that it's
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a new version and you have changed something and hopefully improved the old version. So
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with each iteration the idea is that your computer programme improves, it gets better.
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A company might release a computer programme and then they'll make several iterations and
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by the tenth iteration it's improved dramatically, it's so much better than the original version.
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So an iteration is a new version of something. And the final one, number ten, exit strategy.
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Now as you might be able to guess exit means kind of to leave and this is when the founder
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of the business, the entrepreneur that started it makes a plan to leave the business. So
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maybe they sell part of the business or maybe they sell the whole business but it's their
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plan to leave and hopefully make some money on the business. So an exit strategy. 'It's
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important for all entrepreneurs to have an exit strategy.' Eat Sleep Dreamers I'd love
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to know which of those words did you find most useful. Did you know al of them? Were
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some of them new to you? Let me know in the comments below. I'd particularly love to hear
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from those of you that are learning English for your jobs. So that you can improve your
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job, get a promotion whatever it might be or speak to colleagues or clients in English.
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I'd love to know how you use English in business. Put that in the comments below. Remember to
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check out my Instagram account which is @EatSleepDreamEnglish also check out my Facebook page and of course
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hit the subscribe button and give this lesson a big thumbs up. I'm back every Tuesday and
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every Friday with new lessons helping you take your English to the next level. Thanks
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so much for hanging out with me guys I hope you enjoyed that one. This is Tom, the Chief
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Dreamer, saying goodbye.
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