Practice English Conversation to Improve Speaking (How to start your own successful business)

Robert is that you wow long time no see you

oh good morning Mr Rockefeller yeah I  hadn't seen you since the day I quit  

exactly I remember you quit to start  your own business how's that going

well not bad in fact yeah it's  not going well I'm having troubles

it's not easy you know I work hard  every day but my business doesn't grow

but I stay positive I'm sure I will  be a successful entrepreneur someday

just like you I mean you have your  own company and it's very successful

well yeah we're doing very well we're  about to open another branch office soon

we are evaluating that and for next year we  will start negotiating with the French company  

wow you're just fantastic how  did you do that it's amazing

well I started just like you I also worked  hard but hard work is not everything  

what do you mean hard work is the  most important thing to succeed  

right it is important yeah but I also have to do  many other things in order to succeed my friend

seriously then I want to know please  what are those things you had to do  

I know you're a busy businessman but  you could help me a lot with that please

all right all right I will  tell you then I will give you  

some tips for becoming a successful entrepreneur  

an entrepreneur is someone who comes up with  ideas products or services to solve problems  

for the world the path of Entrepreneurship  is built differently or every individual

but all successful entrepreneurs need  to be prepared for failure and criticism

and they should constantly be  learning and improving themselves

there's no secret recipe or Holy Grail  to becoming a successful entrepreneur

but there are some things you can do here are  some tips to assist you on the journey ahead  

the first thing you have to do is  develop a business plan that's for sure

a business plan materializes your ideas onto paper  

and helps you to Envision how  your business will be operated  

in brief your business plan should at least  answer the following questions about your business

what is your product or service  what are your priorities  

where will you be operating your business

where do you want to be in five  years when will your business operate

why should people buy your product service who  is your target segment who is your competition

how will their day-to-day operations be run  how will you deal with unforeseen emergencies  

these are just a tiny sample of questions  to start your brainstorming process

the more questions you can answer the more  clarity you have about running your business

what else I'll be frugal think twice  before buying anything or signing a lease  

to determine if the expenditure is a necessary  and good investment refer to your business plan

and ask yourself how your purchase will  contribute to the success of the business

as well as any additional  costs you could be incurring  

such as depreciation and maintenance costs

always aim to do more with less  and look for ways to reduce costs  

such as bartering with other companies  another thing you must do and this is  

something really really important  is continuously educate yourself

be a boracious learner you can attend  live seminars or classes online

I also recommend reading books by a  successful entrepreneur you admire

even if they aren't in the same field as you you  could learn a lot from both their successes and  

failures observing how they solve problems can  give you tips on resolving your own problems too

building a winning team is probably one of  the most difficult things you will have to do

but you should know something behind every  successful business is a reliable and competent  

Tim this can include engaging an online personal  assistant or working with a skilled accountant

considering sales are the live blood  of every business you must know that

the key is to recruit the best people to help  you achieve your goals but more important

these people must also share  your vision everything made  

might bring a different skill set to the table  

but the entire team should always be on the  same page about the company's vision and values

take advantage of free marketing tools  such as Google my business and social media

they can be used for marketing and promotion  and the best part is that they are free

many businesses create Facebook  peer groups to spread the word  

and interact with like-minded people  

a valuable lesson I learned was that have an  excellent marketing on a decent product or service  

is better than having little marketing on  an excellent product or service believe me

this is also important be financially  prepared starting a business always  

costs more than anticipated you can  allocate part of your Revenue into  

an emergency fund to prepare  against Financial emergencies

set a system to monitor your  finances you must keep track  

of all the spendings revenue and balance  sheet many companies have failed because  

of Founders who could not adjust  their spending and run out of cash

give your overhead low spend wisely  and prevent needless expenditures  

learn to live on a shoestring until  significant earnings begin to trickle in

and please don't forget this find  the Mind Body Soul balance seriously

for the lot of God make sure you eat  healthily and find time to declutter your mind

your personal Wellness is as important  as your company's bottom line

even if your office is at home find ways to  unplug from work and recharge by going for a walk  

or exercising to release some Ender fins  your body is natural feel good chemical

excessive stress is detrimental to your health  remember that your business thrives only if you do  

I could give you many more tips but I really  need to go to my office right now sorry

now you've helped me a lot I know there are  more things I must know I need your help

yeah but I can't right now probably we could  go for a drink someday just if you want  

of course I'd love to what  about you guys do you want it to

I hope you liked this conversation if you  could improve your English a little more  

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