full transcript

From the Ted Talk by Leticia Gasca: Don't fail fast -- fail mindfully

Unscramble the Blue Letters

Let's begin with the money. In the best possible scenario, maienng you don't have problems with partners, providers, clients, eyoplmees, in the best possible scenario, officially cnlisog a business will cost you 2,000 dlloars. Which is a lot of money in mxiceo. Someone who earns the minimum wage would have to work for 15 months to save this amount. Now, let's talk about the time. As you may know, in most of the developing world, the average life expectancy of a business is two years. In Mexico, the process of officially closing a business takes two yaers. What happens when the average life extccnpeay of a business is so similar to the time it will take you to close it if it doesn't work? Of course, this discourages business creation and promotes informal economy.

Open Cloze

Let's begin with the money. In the best possible scenario, _______ you don't have problems with partners, providers, clients, _________, in the best possible scenario, officially _______ a business will cost you 2,000 _______. Which is a lot of money in ______. Someone who earns the minimum wage would have to work for 15 months to save this amount. Now, let's talk about the time. As you may know, in most of the developing world, the average life expectancy of a business is two years. In Mexico, the process of officially closing a business takes two _____. What happens when the average life __________ of a business is so similar to the time it will take you to close it if it doesn't work? Of course, this discourages business creation and promotes informal economy.

Solution

  1. meaning
  2. employees
  3. expectancy
  4. years
  5. dollars
  6. mexico
  7. closing

Original Text

Let's begin with the money. In the best possible scenario, meaning you don't have problems with partners, providers, clients, employees, in the best possible scenario, officially closing a business will cost you 2,000 dollars. Which is a lot of money in Mexico. Someone who earns the minimum wage would have to work for 15 months to save this amount. Now, let's talk about the time. As you may know, in most of the developing world, the average life expectancy of a business is two years. In Mexico, the process of officially closing a business takes two years. What happens when the average life expectancy of a business is so similar to the time it will take you to close it if it doesn't work? Of course, this discourages business creation and promotes informal economy.

Frequently Occurring Word Combinations

ngrams of length 2

collocation frequency
failed business 3
common reaction 3
officially closing 3
failing fast 3
failed entrepreneurs 2
handmade products 2
social enterprise 2
lessons learned 2
interesting finding 2
public policy 2
average life 2
life expectancy 2
rapid failure 2

ngrams of length 3

collocation frequency
average life expectancy 2

Important Words

  1. amount
  2. average
  3. business
  4. clients
  5. close
  6. closing
  7. cost
  8. creation
  9. developing
  10. discourages
  11. dollars
  12. earns
  13. economy
  14. employees
  15. expectancy
  16. informal
  17. life
  18. lot
  19. meaning
  20. mexico
  21. minimum
  22. money
  23. months
  24. officially
  25. partners
  26. problems
  27. process
  28. promotes
  29. providers
  30. save
  31. scenario
  32. similar
  33. takes
  34. talk
  35. time
  36. wage
  37. work
  38. world
  39. years