Practice English Reading Exercises for B2 – Youth Entrepreneurship & Startups 3

Exercises:   123456

Reading 1

You are going to read an article about four teenagers reflecting on the biggest financial mistakes they made during the first six months of running their own small businesses.

For questions 1-10, choose from the people/sections (A-D). The people/sections may be chosen more than once.

Which person/section

1   admits to ignoring the minor, everyday costs of their enterprise?

2   regrets investing heavily in promotional activities that yielded poor results?

3   initially failed to charge a sufficient amount for their time and skills?

4   mistakenly believed that having top-of-the-range gear was essential from the start?

5   felt overwhelmed by a sudden lack of available funds despite having a steady stream of orders?

6   was encouraged by another person to reconsider their financial approach?

7   realised that unpaid methods would have been more effective for attracting clients?

8   learned a hard lesson about acquiring too many supplies before securing buyers?

9   felt they had misjudged who their target audience actually was?

10   acknowledges that their desire to look professional resulted in unnecessary debt?

Learning the Hard Way: Teenage Entrepreneurs and Their Financial Blunders

A Leo – Computer Repair Service

When I launched my computer repair service, I was absolutely convinced that I needed the most advanced tools available to be taken seriously. I took it for granted that clients would only trust a technician with a state-of-the-art workspace. Consequently, I maxed out my credit card on premium diagnostic gadgets and high-end software before I’d even fixed a single laptop. Looking back, if I had just used the basic equipment I already owned, I wouldn’t have ended up in the red so quickly. Furthermore, I bulk-bought expensive replacement parts, assuming I’d be flooded with orders immediately. Sadly, those components just gathered dust for months. It was a harsh wake-up call. I thought about paying for online adverts, but thankfully I didn’t have any budget left for that! I’ve since come to terms with the fact that starting small is the key. My obsession with projecting a highly professional image almost bankrupted me before I even got off the ground.

B Maya – Handcrafted Jewellery

Setting up a handcrafted jewellery business felt like a dream come true, but my financial naivety soon became apparent. I was terrified of putting people off, so I deliberately kept my prices incredibly low. I figured that selling more items at a cheaper rate would guarantee success. However, I completely forgot to factor in the hours I spent designing and making the pieces. It wasn’t until a fellow market stallholder looked at my accounts and pointed out that I was essentially paying my customers to take my jewellery that the penny dropped. I had been working flat out, yet making zero profit. She strongly urged me to double my prices to reflect the craftsmanship involved. I was worried I’d lose my entire client base, but to my relief, sales actually increased. People perceive higher-priced items as better quality. I just wish I had realised my own worth much earlier, instead of practically giving my hard work away.

C Sam – Upcycled Vintage Clothing

When I started selling my upcycled vintage clothes, I was eager to make a splash. I’d read numerous articles claiming that aggressive marketing was the secret to rapid growth. Consequently, I blew my entire start-up fund on a glossy advertising campaign in a local lifestyle magazine and on expensive printed flyers. It turned out to be a spectacular waste of money. The people reading that publication were entirely the wrong demographic for my edgy, streetwear-inspired designs; they were looking for traditional fashion, not my quirky garments. I didn’t get a single sale from those ads. I should have realised that my actual customers were spending their time scrolling on their phones. Once I bounced back from that financial blow, I switched my focus to posting regular, engaging content on social media platforms. Not only did this approach cost absolutely nothing, but it also connected me directly with teenagers who actually wanted to buy my clothes.

D Chloe – Artisan Bakery

I’ve always been passionate about baking, so turning it into a business seemed like a logical step. At first, everything appeared to be going swimmingly. The orders for my custom celebration cakes were pouring in, and I was constantly busy. However, by the end of the fourth month, I checked my bank balance and was horrified to discover my account was virtually empty. I couldn’t understand how I was flat broke despite having so many customers. The problem was that I had been completely ignoring the invisible expenses. I was keeping track of the big purchases, like flour and sugar, but I wasn’t accounting for petrol money for deliveries, packaging materials, or the electricity bill for running the ovens all day. These tiny costs had slowly eaten away at my profits. If I had bothered to keep accurate spreadsheets from day one, I wouldn’t have faced such a terrifying cash flow crisis. Now, I keep track of absolutely every penny.

Reading 2

You are going to read an article about four teenagers discussing the pressures of managing social media accounts and digital marketing for their self-made fashion brands.

For questions 1-10, choose from the people (A-D). The people may be chosen more than once.

Which person

1   contemplated giving up their enterprise because of harsh online feedback?

2   acknowledges that their business responsibilities are interfering with their education?

3   explains how displaying their imperfections resulted in an unexpected commercial boost?

4   mentions wishing they could delegate their online duties to another person?

5   successfully pinpointed the specific demographic they want to sell to?

6   admits to wasting financial resources before improving their marketing knowledge?

7   expresses frustration about platform updates negatively impacting their brand’s visibility?

8   highlights a misconception they initially had about the frequency of posts needed to attract an audience?

9   enlisted the help of their peers to generate promotional material?

10   felt uncomfortable when adopting a new, trendy format for their content?

The Digital Grind: Teen Entrepreneurs Speak Out

A Chloe

Running a sustainable denim brand while studying for my final exams is certainly no walk in the park. When I first launched my label, I assumed uploading a few nice pictures a week would be enough to draw people in. How wrong I was! If I had known how demanding it would be, I might have planned my schedule differently. I soon discovered that the algorithm demands constant attention, meaning I have to post daily updates, stories, and behind-the-scenes clips just to stay relevant. It’s incredibly time-consuming, and there are days when I feel completely burnt out. I often find myself replying to customer queries late at night when I should be sleeping or revising for my biology tests. Nevertheless, seeing my followers tag me in photos wearing my jackets makes it all worthwhile. The sense of community is amazing, though I do wish I could afford to hire an assistant to take over the daily digital grind so I could just focus on the actual designing.

B Jamal

My streetwear brand took off much faster than I ever anticipated, largely thanks to a viral video. However, keeping that momentum going has been a massive learning curve. Initially, I was throwing money at sponsored posts without really understanding how targeted advertising worked, which was a huge drain on my limited resources. I quickly came to terms with the fact that I needed to educate myself, so I spent my weekends reading up on analytics and search engine optimisation. It can be quite frustrating when the rules are suddenly changed by the platforms, causing my engagement rates to drop overnight through no fault of my own. You really have to stay on your toes in this industry. Despite the steep learning curve, getting a grip on the digital marketing side has been empowering. I now know exactly who my target audience is, and I’m reaching them far more effectively without wasting my weekly allowance.

C Mia

I design vintage-inspired summer dresses, and while the creative process brings me joy, putting my work out there for the world to judge was initially terrifying. You have to develop a thick skin very quickly. At first, I took every single negative comment to heart, especially when anonymous users criticised my pricing or fabric choices. It must be hard for people outside the industry to understand how isolating it can feel, and I seriously considered throwing in the towel a few months ago. However, my older sister reminded me that you cannot please everybody. I’ve since learned to block out the unhelpful noise and focus solely on constructive feedback. The pressure to maintain a picture-perfect feed is immense, but I’ve recently started posting more authentic, unfiltered content showcasing my mistakes and messy studio. Ironically, this honest approach has resonated deeply with my audience, and my sales have actually bounced back stronger than ever.

D Leo

If I’m honest, I’ve never been a fan of being in front of the camera. My brand focuses on eco-friendly skate wear, and I always believed the clothes should speak for themselves through high-quality photography. But I was advised by friends that static images simply don’t cut it anymore. Everyone is obsessed with short-form video content, and I realised that if I didn’t jump on the bandwagon, my brand would fade into obscurity. Reluctantly, I began filming myself sketching, cutting patterns, and printing shirts. It felt incredibly awkward at first, and my early attempts were admittedly quite embarrassing! Over time, though, I’ve grown more accustomed to it. I wouldn’t say I love managing my accounts—it still feels like a distraction from my main passion—but I’ve accepted it as a necessary evil. I’ve even managed to collaborate with a few local skaters who wear my gear in their videos, which takes some of the pressure off me.

Exercises:   123456