ESL Podcast 476 - Taking Chances in Business

cautious - careful; doing things only after one has thought about it a lot and decided that it is not too dangerous, unsafe, or risky

Misty is a very cautious driver who always drives slowly and lets other drivers pass her.

investor - a person who gives money to businesses or projects for a short period of time, expecting those businesses and projects to be successful so that he or she will receive more money in the future

If we're going to open a restaurant, we'll need to find some good investors.

conservative - not taking risks; with very little risk; standard, normal, and usual

They designed a very conservative website, not using any new technology or doing anything unusual.

sure thing - something that is guaranteed to succeed and cannot fail

If you apply for that job, it's a sure thing that you'll get it. You're very well qualified for it.

to tempt (someone) - to make someone want to do or have something because it seems like a very good thing

Marcus is trying to lose weight, but he's always tempted by ice cream.

risk - the possibility that something bad will happen

The risk of being in a car accident is much higher for drivers who are talking on their cell phones.

fund manager - a person whose job is to invest money for other people, helping them identify opportunities to make more money by financially supporting businesses and projects

Perry's fund manager is encouraging him to put more money into retirement accounts.

to get in on (something) - to become involved or participate in something, especially if it isn't available to everyone, and especially early in the process

How can I get in on the new company before their stock is made available to the public?

scheme - a plan for doing something, especially if it is secretive or requires a lot of thought and creativity

Bernice has a scheme to become a millionaire by the time she's 24.

to take advantage of (something) - to use an opportunity to do something

They're buying a home this year so that they can take advantage of the government's new tax credits.

economic climate - the current condition of the economy, whether it is good or bad, strong or weak

When the economic climate is bad, many people lose their jobs.

susceptible - vulnerable; able to be affected by something in a negative way

Old people and young babies are very susceptible to the flu.

market forces - the way that demand (what people want to buy) and supply (what people want to sell) interact and affect sales and prices

Thanks to market forces, we'll be able to raise our prices next year and still sell more of our product.

barring - unless something occurs or happens; unless something is true

Barring rain, they'll have an outdoor wedding.

to rake it in - to make a lot of money very easily and with little effort

The band's song became very popular and now the band members are really raking it in.

to shoot from the hip - to be spontaneous; to do something without planning it or thinking about it very much ahead of time

Did you do a lot of market research before you opened your business, or were you just shooting from the hip?

profitable - making money; with income (money coming in) that is higher than expenses (costs)

Yolanda's business finally became profitable in its third year.

to throw caution to the wind - to stop being careful; to take a risk; to be careless

He knew the icy roads were slippery, but he threw caution to the wind and drove quickly anyway.

to take a chance - to decide to do something risky; to decide to do something even though one knows it might not be successful

Jaime took a chance and asked Michelle on a date, even though he didn't think she would say yes.