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Owning and operating a successful business can be a very satisfying way to earn a living and, at the same time, become financially self-reliant. But before starting, one should take careful measure of some of the factors that can guarantee success and minimize failure. People who are successful at operating businesses of their own normally will score high marks on the following attributes: possessing a strong desire to be self-reliant; enjoying and gaining satisfaction from operating the business; focusing on a specialized service or product that fills an ongoing need; possessing previous hands-on experience in the business; possessing a basic knowledge of accounting and cash flow control.

Defining the market is the single most important decision to be made by anyone starting a business. Most businesses do best when serving a specialized market. For example, in the United States the most successful fast-food chains market a very limited line of products, such as ice cream, chicken, or hamburgers. Fast-food restaurants that attempt to be good at a widely assorted menu often fall by the wayside. Seek out a single, specialized need and fill it exceptionally well.

It is a good idea to avoid markets that deal in commodities. In a commodity market, you must compete entirely on the price of your product, and you must have the lowest cost to survive. If you live in a country where labor costs are low, you may find opportunities to export your product to countries where labor costs are significantly higher. On the other hand, if your product is made in a high-labor-cost country, you take the risk that someone somewhere will gain a cost advantage over you and become a serious threat to your business.

Many small retailers are no longer in business because huge stores such as Wal-Mart provide more choices of goods to the customer and often at cheaper prices. Businesses that offer services have more “pricing power” than businesses offering goods. In a service type of business, whether it is car rental or house painting, your customers usually will be more willing to pay a fair price for a service rather than look for a lower-cost competitor.

 

ЗАДАНИЕ № 41 (- выберите один вариант ответа)

Выберите правильный вариант ответа на вопрос:

What does a successful business provide?

ВАРИАНТЫ ОТВЕТОВ:

 

A	career promotion	B	income and independence
C	gaining satisfaction from operating the business	D	possessing a basic knowledge of accounting and cash flow control

 

ЗАДАНИЕ № 42 (- выберите один вариант ответа)

Выберите правильный вариант ответа:

What is the first thing you should consider before starting a new business?

 

A	defining the market	B	writing a business plan
C	finding start up money	D	finding a partner

 

 

ЗАДАНИЕ № 43 (- выберите один вариант ответа)

Выберите правильный вариант ответа:

Most businesses do best when

A	huge stores such as Wal-Mart provide more choices of goods	B	compete entirely on the price of the product
C	attempt to be good at a widely assorted menu	D	market a very limited line of products

 

ЗАДАНИЕ № 44 (- выберите один вариант ответа)

Выберите правильный вариант ответа:

ВАРИАНТЫ ОТВЕТОВ:

What business has more “pricing power”?

A	offering commodities	B	offering goods
C	offering food	D	offering services

 

ЗАДАНИЕ № 45 (- выберите один вариант ответа)

Выберите правильный вариант ответа:

What is not included into the attributes for possessing your own business?

ВАРИАНТЫ ОТВЕТОВ:

 

A	a commodity market	B	previous hands-on experience in the business
C	a basic knowledge of accounting and cash flow control	D	a strong desire to be self-reliant

 

 

ЗАДАНИЕ № 46 (- выберите один вариант ответа)

Определите, является ли утверждение

To have a prosperous business you should focus on a definite product that answers an ongoing demand.

ВАРИАНТЫ ОТВЕТОВ:

 

A	ложным	B	истинным
C	в тексте нет информации

 

ЗАДАНИЕ № 47 (- выберите один вариант ответа)