Vocabulary Reading:

Vocabulary Reading: Business

This article uses words from the 1000-2000 range of the General Service List. Read it. Then answer the comprehension questions.

An Entrepreneurial Spirit

Joe has always dreamed of being an entrepreneur. His aim is to make a billion dollars before he turns 40. Now at age 22, he came up with his own business plan and took it to a bank where he talked to the manager about getting a loan. Joe greeted the bank manager with a firm handshake. Then the manager invited him to sit down and share his business plan. The bank liked his business idea and his ambitious entrepreneurial spirit, so they approved his loan.

Although he is in debt now, he expects to earn enough to pay back the loan within three years. It's risky, but taking risks is the only way to get ahead. He's not too worried, though. He believes in himself and in his business plan. He's done the math and the bottom line looks good. He and the bank both believe it is a calculated risk worth taking.

Joe's new business is building handmade sailboats. He used most of the money that the bank lent him to buy a shop and some equipment. He spent some on advertising and business cards, too. The few sailboats that he has on display have already attracted several customers who have come by his shop to check out his merchandise and ask about prices. He has already arranged to build a sailboat for one customer. He hopes to earn a good reputation by doing an excellent job and delivering on time. He expects that quality will be more important to his customers than bargain prices.

Right now, he is handling everything himself, but if business picks up he may need to hire a carpenter to help him build the boats, an accountant to balance the books, or salesperson to get new orders. He doesn't want to hire too soon though because right now he can't even afford to pay himself a salary. That's the kind of sacrifice an entrepreneur is willing to make; when he starts his own business, he looks forward to the day when it multiplies and becomes a commercial success.

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