Warm-up
Answer a few quick questions before today’s lesson about business.
Listening
Listen to the recording and answer the questions in each part. You can replay the audio as many times as you need — click anywhere on the progress bar to jump to a specific moment. Read the questions in each part first, then submit when you are ready; your answers will be marked together at the end of each part.
Listening — Starting a Business: A Conversation Between Friends
This listening task is split into parts. The audio player stays at the top of the page so you can replay it freely — click anywhere on the progress bar to jump to a specific moment. For each part, read the questions first, then listen and answer. You can change your answers until you click Submit; feedback appears once you submit each part.
Reading
Read the passage on the left, then work through the questions on the right.
Reading — The Keys to Building a Successful Business
Read the passage on the left, then answer the questions one by one.
The Keys to Building a Successful Business
Success in business rarely happens by accident. Entrepreneurs who have built thriving companies have consistently demonstrated certain characteristics and strategies that set them apart. While luck may play a minor role, research shows that sustainable business success depends primarily on preparation, resilience, and a willingness to learn from failure.
One of the most important traits successful entrepreneurs have developed is adaptability. Jack Ma, founder of Alibaba, has often spoken about how his early ventures failed before he created the platform that would eventually become worth billions of dollars. Had he given up after his first setbacks, he would never have achieved his later success. Similarly, Sara Blakely, founder of Spanx, spent years pitching her idea to manufacturers who rejected her countless times. She has said that if she had accepted these rejections as final, her billion-dollar company would never have existed. These entrepreneurs understood that failure is not the opposite of success—it is a stepping stone towards it.
Beyond personal traits, successful business leaders have adopted specific strategies that maximize their chances of long-term growth. They invest heavily in understanding their market and their customers’ needs. They build strong teams by hiring talented people who complement their own skills. They also maintain financial discipline, ensuring that growth does not come at the cost of stability. Furthermore, many highly successful entrepreneurs have acknowledged the importance of mentorship. If they had not sought guidance from experienced advisors, they would have made far more costly mistakes. Companies that have implemented mentor-led development programmes have reported productivity increases of up to 25 percent.
Perhaps most crucially, successful entrepreneurs cultivate a mindset focused on continuous improvement. They view challenges not as obstacles but as opportunities to innovate. This perspective, combined with strategic planning and persistent effort, creates the foundation upon which lasting business success is built. The path to success is neither quick nor easy, but those who remain committed to learning and adapting will ultimately find their way forward.
Vocabulary Practice
Practise the 12 key vocabulary items from this lesson through three exercises.
Vocabulary Practice — Being Successful
Work through all three parts. Each part uses the same vocabulary in a different way.
Use of English
Transform the root word in brackets to fit the sentence.
The Entrepreneurial Mindset: Keys to Business Success
Successful entrepreneurs share a common (1 DETERMINE) to turn their visions into reality. Sarah Chen’s (2 SUCCEED) in the tech industry wasn’t (3 ACCIDENT); it resulted from years of hard work and strategic (4 DECIDE). She faced (5 COUNT) obstacles, yet remained (6 OPTIM) about her company’s potential. Her (7 LEAD) style proved (8 INSPIRE) to her team, fostering an environment of (9 INNOVATE) and trust. Had she lacked the (10 PERSIST) to overcome early failures, her business would have collapsed. Today, her story demonstrates that entrepreneurial success requires both vision and unwavering determination.
Use of English — Word formation
Choose or type the correct word for each gap in the passage above.
Writing Task
Your friend Marco has just told you he wants to start his own online business selling handmade furniture. He’s excited but nervous about the risks involved. He’s asking for your honest advice based on what you’ve learned about business success. Write him an informal email responding to his news.
You should address:
- Give your opinion on his business idea and explain why you think it could work
- Discuss at least one challenge he might face and how he could overcome it using conditional language (e.g., ‘If you…’, ‘If he were to…’)
- Mention something you’ve learned about successful entrepreneurs that could help him
Plan:
Introduction: Congratulate Marco on his idea and show your enthusiasm.
Body paragraph 1: Explain why you think his business idea has potential and what makes it viable.
Body paragraph 2: Discuss one key challenge using conditional structures and suggest a practical solution based on entrepreneurial success strategies.
Conclusion: Encourage him and express your confidence in his success.
Speaking
Speaking task. Read the instructions, then complete the task.
Teacher Guide
Practise with
- corporationnoun
A large business organisation that is legally recognised as one company.
- leave no stone unturnedidiom
to try every possible way to achieve something
- logonoun
a symbol used by a company or organisation
- manufactureverb
to produce goods in large quantities
- modifyverb
to change something slightly or partly, while keeping its main features
- negotiationnoun
a discussion aimed at reaching an agreement
- producedverb
made or created something, especially in large quantities through manufacturing
- throw in the towelidiom
to admit defeat and give up
- tradingnoun
the activity of buying and selling goods
- up in the airidiom
uncertain or undecided