Evaluating Startup Costs and Funding Options
Participants estimate the initial capital required for a chosen business idea and discuss various funding sources like personal savings, loans, or crowdfunding.
Dialogue
Listen and follow along with the conversation
Vocabulary
Essential words and phrases from the dialogue
startup costs
The money needed to begin a new business, like buying equipment or inventory. Use this term when discussing the initial expenses of starting a company.
crowdfunding
A way to raise money by asking many people online to contribute small amounts, often through platforms like Kickstarter. It's useful for new businesses without traditional funding.
grant
Free money given by governments or organizations for specific projects, like eco-friendly businesses, that doesn't need to be repaid. Mention this when seeking non-loan funding options.
scale back
To reduce the size or cost of a plan to make it more manageable. Use this in business talks to suggest cutting expenses without abandoning the idea.
lean
Operating with minimal resources or costs, often meaning efficient and low-budget. Say 'start lean' when planning a business to begin small and grow later.
reinvest
To put money earned back into the business to help it grow. This is common in discussions about using profits wisely instead of spending them personally.
track record
A history of past performance or success, like business achievements. Lenders check this to decide on loans; use it when explaining why funding might be hard without experience.
eco-friendly
Good for the environment, like using sustainable practices. This term is key in modern business pitches to attract grants or customers who care about green initiatives.
Key Sentences
Important phrases to remember and practice
Let's talk about the elephant in the room: startup costs.
This idiom means addressing the most obvious or problematic issue first. It's useful in meetings to focus on big challenges; the structure uses a colon to introduce the topic clearly.
What do you think we're looking at initially?
This asks for an estimate of starting costs. 'Looking at' is informal for 'expecting' or 'estimating'; use it in planning discussions to get opinions on budgets.
That includes initial inventory, a delivery van, website development, and some marketing push.
This lists items in a budget using 'includes' for breakdown. The parallel structure with commas and 'and' is common in explanations; useful for detailing expenses in business plans.
How do we plan to cover that?
This questions funding sources, with 'cover' meaning to pay for. It's a practical way to shift from costs to solutions in group discussions; simple present tense for general plans.
Crowdfunding could be an option, but it takes time and a compelling story.
This suggests an idea with a contrast using 'but'. 'Compelling' means interesting or persuasive; use this pattern to propose alternatives while noting drawbacks in decision-making.
We should definitely explore that.
This shows strong agreement and action, with 'definitely' for emphasis. 'Explore' means to investigate; it's useful for encouraging next steps in collaborative talks.
Start lean and then reinvest profits.
This advises a strategy using imperative 'start' and 'reinvest', connected by 'and then'. It's a key business tip for beginners: begin small and grow with earnings; use in advice-giving.
Consider it done.
This means 'I'll take care of it' or 'agreed, I'll do it'. It's informal and confident; use in response to tasks to show reliability in team settings.