Lesson 4 – Business Planning

Lesson 4 – Business Planning

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No.Word IPASoundMeaningExample
1addressv./əˈdrɛs/ to direct to the attention ofa. Marco’s business plan addresses the needs of small business owners.
b. Be certain to pay attention to addressing the cost of infrastructure when you estimate your expenses.
2avoidv./əˈvɔɪd/ to stay clear of; to keep from happeninga. To avoid going out of business, owners should prepare a proper business plan.
b. Lloyd’s errors in accounting could have been avoided by a business consultation with his banker.
3demonstratev./ˈdɛm ənˌstreɪt/ to show clearly and deliberately; to present by examplea. Alban’s business plan demonstrated that he had put a lot of thought into making his dream a reality.
b. The professor demonstrated through a case study that a business plan can impress a lender.
4developv./dɪˈvɛl əp/ to expand, progress, or improvea. Lily developed her ideas into a business plan by taking a class at the community college.
b. The restaurant Wanda opened ten years ago has developed into a national chain.
5evaluatev./ɪˈvæl yuˌeɪt/ to determine the value or impact ofa. It’s important to evaluate your competition when making a business plan.
b. The lenders evaluated our creditability and decided to loan us money.
6gatherv./ˈgæð ər/ to accumulate; to concludea. We gathered information for our plan from many sources.
b. I gather that interest rates for small businesses will soon change.
7offerv./ˈɔ fər/ to propose; to present in order to meet a need or satisfy a requirementa. We offered the job of writing the business plan to Devon.
b. Jackie must offer her banker new statistics in order to encourage the bank to lend her money toward her start-up business.
8primaryadj./ˈpraɪ mɛr i/ most important; first in a list, series, or sequencea. The primary reason for writing a business plan is to avoid common errors.
b. Writing the business plan was the primary task, then seeking funding, followed by finding a suitable building.
9riskn./rɪsk the chance of loss or damagea. The primary risk for most start-up businesses is insufficient capital.
b. Expanding into a new market is a big risk.
10strategyn./ˈstræt ɪ dʒi/ a plan of actiona. A business plan is a strategy for running a business and avoiding problems.
b. Let’s develop a strategy for promoting our ice cream parlor.
11strongadj./strɔŋ/ powerful; economically or financially sounda. The professor made a strong argument for the value of a good business plan.
b. Even in a strong economic climate many businesses fail, so do your planning carefully.
12substitutev./ˈsʌb stɪˌtut/ to take the place of anothera. Here’s a model business plan; just substitute the specifics of your business.
b. Don’t try to substitute intuition for good planning.