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 companys 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 mens 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.

unit_13.png

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.