A successful business ⬆️☝⚡

SunnyLv 1Nov 25

GECKO HEADGEAR Ltd is a designer and manufacturer of safety helmets for use at sea. The company was founded in 1993 by Jeff Sacree and it started by selling surfboards. However, surfing is a seasonal business, and Jeff realized he needed to diversify. Fortunately, he was able to exploit a gap in the market. "As a surfer, I could see the potential for a light helmet that gave protection and retained heat. He made one and sold a few to other surfers. He then did some research and discovered that men who worked in lifeboats might also be interested in his helmet. It would have to be adapted for their use, and for that he needed investment: he took out a bank loan and employed more staff. "A good relationship with the bank is crucial if you're developing an innovative product in our case the process took three years. After the contract to supply helmets for the lifeboats was successful, Jeff developed different types of helmet for different uses, and has always used customer feedback to refine the product. Partnerships with suppliers have also been a key factor in our success. We've worked closely with different manufacturers and this has helped us to keep ahead of rivals.

Vocabularies

a gap in the market
một lỗ hổng trên thị trường

keep ahead
giữ vị trí đứng đầu

do some research
thực hiện nghiên cứu

feedback
/ˈfidˌbæk/
phản hồi

information about reactions to a product, a person's performance of a task, etc. which is used as a basis for improvement

innovative
/ˈɪnəˌveɪdɪv/
sáng tạo

(of a product, idea, etc.) featuring new methods; advanced and original

case
/keɪs/
trường hợp

an instance of a particular situation; an example of something occurring

contract
/ˈkɑntrækt/
hợp đồng

a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law

adapt
/əˈdæpt/
làm quen

make (something) suitable for a new use or purpose; modify

partnership
/ˈpɑrtnərˌʃɪp/
hợp tác

the state of being a partner or partners

potential
/pəˈtɛn(t)ʃəl/
tiềm năng

having or showing the capacity to become or develop into something in the future

crucial
/ˈkruʃəl/
thiết yếu

decisive or critical, especially in the success or failure of something

diversify
/dəˈvərsəˌfaɪ/
đa dạng hóa

make or become more diverse or varied

key factor
yếu tố tiên quyết

manufacturer
/ˌmænjəˈfæk(t)ʃərər/
nhà sản xuất

a person or company that makes goods for sale

surfer
/ˈsərfər/
người lướt ván

a person who rides a wave toward the shore while standing or lying on a surfboard

investment
/ɪnˈvɛs(t)mənt/
đầu tư

the action or process of investing money for profit or material result

refine
/rəˈfaɪn/
rèn giũa

remove impurities or unwanted elements from (a substance), typically as part of an industrial process

exploit
/ɪkˈsplɔɪt/
khai thác

make full use of and derive benefit from (a resource)

found
thành lập

word skillslv1