IELTS Speaking tip
Develop a consistent response structure: introduction, main body, conclusion.
Vocabulary
- entrepreneurship
- venture
- profitability
- investment
- market
- demand
- customer
- service
- strategy
- expenses
- revenue
- sustainability
- operation
- niche
- inventory
Sample Answer
In my opinion, a small online retail business is comparatively easier to start and manage in today's digital landscape. Firstly, the initial investment required is relatively low, especially with platforms like Etsy or Shopify that facilitate the process. Additionally, the overhead costs are minimized as you can operate from home without the need for a physical storefront.
Moreover, the accessibility of social media marketing allows entrepreneurs to reach a broader audience effectively without incurring exorbitant marketing costs. Another advantage lies in the flexibility it offers; one can set their own working hours, allowing for a balance between personal life and work. However, it’s crucial to acknowledge the fierce competition in this arena, requiring one to be innovative and customer-oriented to thrive. Thus, while starting an online retail business may be straightforward, achieving sustained success demands creativity and strategic thinking.
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