Business English Comunication Task 9 and 10 Siti Ramlah

Name: Siti Ramlah Siregar
NPM: 191224044
Subject: BEC
Assalamualaikum Sir, this is my task meeting 9 and meeting 10.
Meeting 10
This video explains about the good habit of getting paid up front, not having any overdue
invoices and focusing on your cash flow for long-term health. About the productivity when
someone do something in the beginning of the day to get the day off to a good start. The reason
this is important to us is because there are some healthy habits we need to be in as it relates to
our business. And the healthy habit that we want to talk about with the today is specific to
payment. Here are the three reasons why getting paid is so important, not having overdue invoices is so
important.
Number one, cash flow is the life blood of your business. It doesn't matter what you sell. It matters what
you collect. I'm going to say that again, 'cause it's really important. What you sell doesn't matter. What
you collect does. So billing, sending out an invoice is not a sale. Getting the money and putting it in the
bank, that's when the sale is closed.
Second thing, so that's short-term benefit, by the way. Second thing, long-term health. If you want to
survive if there's a recession, and there will be a recession, there is no doubt, it is a fiscal certainty. Just
like gravity, it's immutable. There will be a recession. Your habits for collecting, your habits for getting
paid are critically important for recession survival for your business.
So you're an entrepreneur, you're a business leader, or you're a day-to-day salesperson just out there trying
to make a goal, trying to close a deal, collecting is the most important thing, and in a recession if your
habits are that your clients pay you up front, they will continue to pay you up front regardless of whether
there's a recession or things are going phenomenally well.
Get them into the habit of paying you up front. That's good for the long-term. So that's number two. And
then number three, if people are in the habit of paying you up front, you don't have to worry about one
additional thing in your business. It's one less thing to worry about in your business. And that is so
important. I know salespeople who spend 25 to 30% of their time chasing unpaid invoices, 25 to 30% of
their time chasing unpaid invoices. That's 30% of the time you could be selling, 30% of the time you
could be out giving speeches, 30% of the time you could be writing articles, making more money, 30% of
the time you could be spending with your family instead of chasing unpaid invoices.
Meeting 9
1. Merchandize: which arranges the layout of the product to make it attractive for customers to
buy in the store.
2. Incoterm: rights and obligations of buyers and sellers relating to the delivery of goods.
3. Inspection: involves checking something
4. CFR: rights and obligations of buyers and sellers relating to the delivery of goods.
5. FOB: shipment term that defines the point in the supply chain when a buyer or seller
becomes liable for the goods being transported.
6. Pro forma: simply a financial statement written as you expect things to look, at some point in
the future.
7. Customs: authority or agency in a country responsible for collecting tariffs and for
controlling the flow of goods, including animals, transports, personal effects, and hazardous
items, into and out of a country.
8. Broker: individual or firm that acts as an intermediary between an investor and a securities
exchange.
9. Credit: part of your financial power
10. Certificate: local registration of a business that is conducted within the Town and filed with
the Town Clerk, either in person or by mail, in every city/town where a business of any such
person, partnership or corporation may be situated. It is commonly referred to as a “d/b/a”
(doing business as).
11. Duty: refers to a form of taxation levied on certain goods, services, or other transactions.
12. Bounded warehouse: warehouse operated by a private company in a foreign country under
the regulatory supervision of that country's customs agency.
13. Bill of lading: legal document issued by a carrier (transportation company) to a shipper that
details the type, quantity, and destination.
14. CIF: international shipping term that describes the seller's responsibility for the cost of
shipping, freight charges.
15. Manufacture: refers to the processing of raw materials or parts into finished goods through
the use of tools, human labor, machinery, and chemical processing.
16. Cargo: refers to goods or produce being transported from one place to another – by water, air
or land.
17. Insurance: coverage protects businesses from losses due to events that may occur during the
normal course of business.
18. Payment: exchange of money, goods, or services for goods and services in an acceptable
amount to both parties and has been agreed upon in advance.

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Business English Comunication Task 9 and 10 Siti Ramlah

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Name: Siti Ramlah Siregar

Assalamualaikum Sir, this is my task meeting 9 and meeting 10.

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