Cue Card

Describe a businessperson you admire

You should say:

• Who they are
• How you know about them
• What kind of business they run
• And explain why you admire them.

Sample Part 3 Questions

1. What do you think is the ideal retirement age?
2. What kinds of qualities do people need to run a business?
3. What do you think are the key factors that contribute to the success of a business?
4. If you had the opportunity to run your own business, what kind of business would it be? Why?

Sample Cue Card Answer

Sara Blakely, the founder of Spanx, is someone I've always looked up to. She's the epitome of a self-made entrepreneur. I mean, who wouldn't want to create a product that makes millions of women feel more confident and comfortable in their own skin? Blakely's story is inspiring - she was a saleswoman who hated the way her feet looked in open-toed shoes, so she created footless pantyhose. It's a simple yet genius idea that solved a real problem. And what I love about her is that she didn't let her lack of experience in the industry hold her back. She bootstrapped her company, learning as she went, and eventually landed a meeting with Neiman Marcus, which catapulted Spanx to fame.

What I admire most about Blakely is her willingness to take risks and face rejection. She's spoken publicly about how she was rejected by numerous manufacturers and faced skepticism from many people in the industry. But she persevered, and her determination paid off. Today, Spanx is a household name, and Blakely is one of the youngest self-made billionaires in the world. Her success is a testament to the power of innovation, hard work, and believing in oneself.

Blakely's impact goes beyond her business success, too. She's a role model for women entrepreneurs everywhere, showing them that they can turn their passions into successful careers. And through her philanthropic efforts, she's empowering women and girls to pursue their dreams, regardless of their background or circumstances. For me, Sara Blakely embodies the spirit of entrepreneurship - she's a true innovator, a risk-taker, and a force for good.

Cue Card Answer Key Phrases and Idioms

self-made

having achieved success or wealth through one's own efforts, rather than inheriting it

She's a self-made millionaire.

He's a self-made entrepreneur who built his business from scratch.

bootstrap

to start or grow a business using one's own resources, without external funding

She bootstrapped her startup, using her own savings to get it off the ground.

They bootstrapped their company, relying on revenue to fund growth.

catapult

to suddenly and forcefully launch or propel something into a new situation or position

The viral video catapulted her to fame.

The company's innovative product catapulted them to the top of the industry.

Sample Part 3 Answers

What do you think is the ideal retirement age? I think the ideal retirement age is a highly personal and subjective matter. For me, it's not just about a specific number, but rather about achieving a certain level of financial security and personal fulfillment. I admire businesspeople who have managed to strike a balance between their professional and personal lives, allowing them to transition into retirement on their own terms. Take, for instance, Sara Blakely, the founder of Spanx. She's built a successful brand and has been able to scale back her involvement in the company, allowing her to focus on her family and philanthropic pursuits. Her approach to retirement is more about freedom and flexibility than a specific age milestone.

What kinds of qualities do people need to run a business? One quality that I believe is essential for running a successful business is adaptability. The ability to pivot and adjust to changing market conditions, consumer needs, and technological advancements is crucial in today's fast-paced business landscape. I admire entrepreneurs like Richard Branson, who have demonstrated an ability to evolve and innovate across various industries, from music to space tourism. His willingness to take calculated risks and adapt to new challenges has enabled him to stay ahead of the curve and build a diverse portfolio of successful ventures.

What do you think are the key factors that contribute to the success of a business? In my opinion, one of the most critical factors contributing to a business's success is its ability to create a strong company culture. A positive and inclusive work environment can foster a sense of community, drive employee engagement, and ultimately lead to increased productivity and customer satisfaction. I admire companies like Patagonia, which has built a culture that prioritizes environmental responsibility, transparency, and employee well-being. By putting people and the planet at the forefront of their business model, Patagonia has created a loyal customer base and established itself as a leader in the outdoor apparel industry.

If you had the opportunity to run your own business, what kind of business would it be? Why? If I had the chance to run my own business, I would love to start a sustainable food company that combines my passion for environmental sustainability with my interest in innovative food technology. I'm fascinated by the work of entrepreneurs like Josh Tetrick, who founded Just, a company that uses plant-based ingredients and cutting-edge technology to create sustainable food products. I admire how he's disrupting traditional industries and pushing the boundaries of what's possible in the food space. My business would focus on developing sustainable, healthy, and delicious food options that not only benefit consumers but also contribute to a more environmentally conscious food system.

Part 3 Key Phrases and Idioms

strike a balance

to find a middle ground between two or more opposing forces or demands

She's learned to strike a balance between her work and personal life.

The company is trying to strike a balance between profit and social responsibility.