UNIT 13. NEW
BUSINESS
STARTING POINT
Task 1▐
Discuss the questions.
·
What is the difference between an invention and an
innovation?
·
What is your favourite invention, and why?
·
Why do people start their own business?
·
What are the challenges of setting up a new business?
·
What kind of person starts a new business? What makes
a successful entrepreneur?
READING
Task 2▐ Read
the article about the success story of Melissa Ben-Ishay. Make a list of
qualities or skills you think would be essential for running a successful small
business.
How Baked by
Melissa’s founder turned a tiny New York City apartment kitchen business into a
cupcake empire
By Sara
Lindsay for cnbc.com
Count Baked by Melissa founder Melissa Ben-Ishay among
the entrepreneurial success stories founded on getting out of the corporate rat
race.
Before starting her company, Ben-Ishay worked at an ad
agency in New York City – a role she felt unfulfilled in. The day she was fired
was an “aha moment”. She visited her brother at work, and he suggested the two
start a business selling her cupcakes. They quickly created a website and shot
images of cupcakes using a white sheet as a backdrop.
Back in 2008, Ben-Ishay was doing it all:
hand-delivering cupcakes to tastings, cold calling caterers from her bedroom
and, once she had an order, boarding the subway with a white cardboard deli box
full of her trademark tie-dye sweets. At the time, every cupcake came from her
tiny New York City apartment kitchen.
Baked by Melissa would sprinkle the city
with bite-sized cupcakes in tie-dye boxes for the next few years, with her big
break coming when the owner of Cafe Bari, who had fallen in love with the bite-sized
cupcakes and offered Ben-Ishay the opportunity to use his commercial kitchen in
exchange for selling him cupcakes at cost for the NYC holiday markets.
“Seven months after we founded the company, my dad
drove in from Bergen County and helped me move all of my stuff from my little
teeny kitchen to the basement of Cafe Bari”.
The cafe owner became a shareholder in Baked by
Melissa, and the company was able to continue using the space for years. The
organic foot traffic was already lucrative, Ben-Ishay says, but as the press
started to catch on, people lined up around the corner. A year after it moved
into the Cafe Bari space, Baked by Melissa opened its second location in Union
Square.
Since then, Baked by Melissa has
become a global business with 14 bricks-and-mortar locations, nationwide
delivery and a following of over 2.5 million on TikTok. Ben-Ishay has also
taken on the role of CEO and recently published her second cookbook, “Come
Hungry.”
Social media has become increasingly important in
building the “cupcake empire.”
In 2021, Ben-Ishay’s “green goddess” salad recipe went viral on
TikTok and became Google’s No. 6 most-searched recipe nationwide,
with 1.6 million searches in 2022. The recipe, which was recreated by
celebrities like Cardi B and Lizzo, led to Ben-Ishay appearing on the Today Show and later
posting a recipe for “green goddess” ranch, which amassed nearly two million
more views than the original recipe. Now fans keep tabs on the recipes and
routines Ben-Ishay shares on TikTok.
Becoming a cookbook author backed by social media
success has helped Ben-Ishay move beyond the cupcake brand.
“I wanted to share that philosophy and a way of eating
that prioritizes nourishing ingredients in every meal,” she said. “I hope
readers gain a sense of confidence in the kitchen through my recipes, that they
can use with any ingredients in the future.”
There are barriers to success for female founders. Ben-Ishay said she has experienced gender-based
obstacles firsthand.
“It’s hard to succeed in business regardless of your
gender,” she said. ″[But] some challenges I’ve found to be more
unique to females. I think often men are overconfident, while women lack
confidence. I didn’t become CEO of the company that bears my name until 2019,
and even when I was put into the role, I thought I couldn’t do it. I was
wrong.”
Now a successful CEO and social media personality,
Ben-Ishay has built a brand uniquely its own. And the freedom and
unpredictability of entrepreneurship leave her feeling fulfilled – she said she loves stepping out of her comfort zone
and putting out fires.
“I embrace it,” she said. “That’s when we learn and
grow the most”.
VOCABULARY
Task 3▐ Match each idiom with its corresponding definition.
Idioms:
1) by leaps and bounds
2) a learning curve
3) in the pipeline
4) hit the ground running
5) from the ground up
6) burn the midnight oil
7) raise the bar
8) cut corners
9) get off the ground
10) on the same page
Definitions:
A. To begin or launch successfully
B. Currently being developed or worked on
C. To start a project or job with a lot of energy
and enthusiasm, ready to work immediately
D. To work late into the night
E. To set higher standards or expectations
F. To grow or progress very quickly
G. The process of learning something, often with
initial difficulty
H. To build or start something from the very
beginning
I. To have a shared understanding or agreement
J. To do something in the easiest or cheapest way,
often sacrificing quality
GRAMMAR USE
▐ Possessives
Possessives are used to indicate ownership or
possession. They help clarify who or what owns or possesses something in
professional communication. Understanding how to use possessives correctly is
crucial for clear and effective business writing.
Possessive Forms:
Add an apostrophe (‘s) after a singular noun to indicate possession by a
singular subject (e.g. The company’s revenue
increased).
Add an apostrophe (‘) after a plural noun ending in -s to indicate possession by a plural subject (e.g. The employees’ salaries
were raised).
Add an apostrophe (‘s) after a plural noun not ending in -s to indicate possession by a plural subject (e.g. The men’s restroom is located on the second floor).
Task 4▐ Complete
the sentences with the appropriate possessive form.
1. The __________ (company) new product was well-received
by customers.
2. The __________ (employee) dedication to excellence is
commendable.
3. The __________ (team) effort contributed to the
project's success.
4. We discussed the __________ (client) feedback during
the meeting.
5. The __________ (department) budget was approved by the
board.
6. The __________ (CEO) vision guides the company's
strategic decisions.
7. The __________ (investor) interest is to maximize
profits.
8. We need to address the __________ (stakeholder)
concerns promptly.
9. The __________ (manager) leadership style inspires the
team.
10.
The __________
(customer) satisfaction is our top priority.
VIDEO Task 5▐
Watch the video about startup definition [https://drive.google.com/file/d/1h-ZNDmZY-BpbvmCUPDjHxTqnOL_dFDaY/view?usp=sharing]
and choose the summary that fits the best. |
|
1. In the video,
startups are described as well-established companies with a long history of
success. It suggests that startups offer products or services already available
in the market. The video implies that investors should not worry about the
management team's experience when investing in startups. Furthermore, it
downplays the need for an exit strategy, claiming that profits from startups
are guaranteed.
2. In the video,
the concept of a startup is explained in detail, highlighting the
characteristics of these young ventures. It emphasises that startups are newly
established businesses with unique products or services. The video also
mentions the importance of considering the management team's experience before
investing in startups. Additionally, it advises potential investors to have an
exit strategy in place due to the high failure rate of startups.
3. In the video,
the focus is on the role of innovation in the success of startups. It explores
how startups revolutionize industries by offering unique products or services.
The video also discusses the importance of strategic planning and adaptability
for startups to thrive in competitive markets. However, it concludes by
highlighting the potential risks and rewards of investing in startups.
DISCUSSION
Task 6 ▐ How
do you understand the words of Jeff Bezos, founder and CEO of Amazon, “I knew that if I
failed, I wouldn't regret that, but I knew the one thing I might regret is not
trying”?
WRITING
Task 7▐ Write an
email to a friend explaining your new business idea and asking for feedback.