 |
 |
 |
|
Kevin
|
Todd
|
Business Gone Bad
Kevin talks about a business experience that did not go so well and what he learned from it.
Todd: So Kevin, you were saying that you've been poor, broke, a couple of times. You talked about being in New York, and being broke. When else have you been broke?
Kevin: Wow. Well, after New York, the following year, when I came down from New York, I was determined to be my own boss. I had not been in control of my life while I was in New York. It was all depending on other people to let me have a job. And when I lost the job, that really, that really hurt.
And so when I went home I decided that I was going to own my own business, and I opened my first business which was a Karate school, and I put a lot of money into it that I had worked for almost a year saving up and then, well I also had a small inheritance from my grandmother.
Todd: Oh okay.
Kevin: Yeah. But I ended up losing all of the money in the Karate school.
Todd: Now did you actually know Karate?
Kevin: Yes.
Todd: Oh you do?
Kevin: I do.
Todd: I did not know that about you.
Kevin: That would have been a strange business to start if I didn't know it. But yeah, yeah, I'd done it, I started when I was a kid. And, at the time, I was 20, I think 20, just about to turn 21 when I opened it. And I was ni-dan at the time, second degree black belt, and I had been teaching at my instructor's school for a while and he had encouraged me, you know, to go ahead and do it. But it was the wrong location, and the wrong town, the town was really poor. And I lost about $20,000 in 6 months.
Todd: That's a lot of money.
Kevin: That is a lot of money. Especially to a 21 year old who, you know...
Todd: Yeah, $20,000 when you're 21, you can live for like 3 years.
Kevin: Right, and not a year and half earlier I was flat busted broke in New York, and then, you know, things picked up and I thought that I could really try and make something of it. But you know, nothing ventured, nothing gained, and that was the attitude that I had, and, you know, found myself broke again.
Todd: So that fact that you've been poor, but you were poor both times when you were very young, do you look back and are you glad that you had those experiences?
Kevin: Sure. Sure, I learned a lot. Those experiences were valuable. You can't buy that kind of experience, you know, I carry it around with me now. I listen to other people who have business ideas and, you know, one thing that I gained from it is I can tell if they are going into a business, if they're gonna try and start up a business and, you know, they haven't considered all the things that they really need to consider, I can see the pitfalls that I fell in. And, you can try and suggest people to, you know, make other arrangements or to be more careful about this or that, but it doesn't always work out. Sometimes they just have to go out and learn the hard way like I did.
determined
I was determined to be my own boss.
If you are 'determined,' you have made a strong decision to do something and will not easily give up. Notice the following:
- She was determined to finish the race.
- He is determined to improve his English.
my own boss
I wanted to be my own boss.
If you are 'your own boss,' you work for yourself instead of working for someone else. Notice the following:
- She left her company to become her own boss.
- Many people dream of being their own boss.
in control of
I had not been in control of my life while I was in New York.
If you are 'in control of' something, you have the power to manage or direct it. Notice the following:
- He likes to be in control of every situation.
- She finally felt in control of her finances.
inheritance
I also had a small inheritance from my grandmother.
An 'inheritance' is money or property that you receive from someone after they die. Notice the following:
- He used his inheritance to buy a house.
- She received a large inheritance from her uncle.
at the time
And, at the time, I was 20.
We use 'at the time' to talk about what was true during a particular period in the past. Notice the following:
- At the time, I was living in Canada.
- Nobody understood the problem at the time.
flat busted
I was flat busted broke in New York.
The expression 'flat busted' means having absolutely no money. It is an informal expression. Notice the following:
- By the end of the trip, we were flat busted.
- He was flat busted until payday.
things picked up
Then things picked up.
If 'things pick up,' a situation improves after being slow or difficult. Notice the following:
- Business picked up during the holidays.
- After a slow start, things finally picked up.
make something of it
I thought that I could really try and make something of it.
If you 'make something of' an opportunity, you use it successfully to improve your life or achieve success. Notice the following:
- She had a chance and made something of it.
- He wanted to make something of his career.
Nothing ventured, nothing gained
Nothing ventured, nothing gained. That was the attitude that I had.
The saying 'Nothing ventured, nothing gained' means you must be willing to take risks if you want to achieve something. Notice the following:
- I invested in my business because nothing ventured, nothing gained.
- He applied for the job anyway. Nothing ventured, nothing gained.
pitfalls
I can see the pitfalls that I fell in.
'Pitfalls' are hidden problems or difficulties that can cause failure. Notice the following:
- Starting a business has many pitfalls.
- She learned how to avoid the common pitfalls.
work out
It doesn't always work out.
If something 'works out,' it has a successful or satisfactory result. Notice the following:
- Everything worked out in the end.
- I hope your plans work out.
learn the hard way
They just have to go out and learn the hard way like I did.
If you 'learn the hard way,' you learn something through difficult or unpleasant experiences instead of advice. Notice the following:
- I learned the hard way not to forget my passport.
- Sometimes people have to learn the hard way.
Vocabulary Quiz
flat busted • inheritance
More Listening Lessons by ELLLO
Free Worksheets
and Courses
