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.