By: First Union
The Most Common Business Expressions
If you are a part of the business world, then you're probably aware that at times it can have its unique language. Certain phrases and expressions seem to pop up more often than not. Believe it or not, being able to use such expressions and do so within the proper context is pretty important—after all, you want to appear as though you're conversant with the culture in which you find yourself. Below are a few of the more common sentiments and idiomatic phrases that those in the business world frequently fall back on.
Carve out a niche
Rather than going after the bigger broader market, carving out a niche means to find that one area of specialization in which your business can develop their brand and consequently excel. For example, a niche market may be organic food delivery, how about legal mediation services for about to be divorced dads; things essentially that are quite specific might be thought of as a niche area.
The phrase red tape is fairly self-explanatory. When you encounter an avalanche of rules, procedures, and regulations generally coming down from government bodies, this signifies the red tape through which you must go to get something approved.
Get the ball rolling
This means you are looking to get a project up and running. A similar phrase might be to "get something off the ground." If you are looking to release a new product, this will likely entail that you get the ball rolling and get that product out into the public sphere.
Generally speaking, this is when someone or a firm is doing many things at the same time. New business owners frequently find themselves multitasking, from answering phones in the beginning, to keeping track of financials, to being on the floor and supervising operations—this is a definite multitask situation.
Go the extra mile
Quite simply, this is when someone puts in more effort than would otherwise be considered just what is required to get the job done. Companies also go that extra mile as a whole for their clients as they want to see them beyond satisfied with the service.
Get ahead of the game
You want to excel—you want to be head and shoulders above the competition, and you do so by differentiating yourself or stepping things up in some way. It could mean updating your technology and thereby getting ahead of the game that way. It could be in an aspect of your customer service. It is striving to do and be better overall.
Not necessarily a phrase with a positive connotation, this is about doing things most cheaply and easily possible.
The Bottom Line
A pretty important phrase in the world of business, this is what the company is taking in as far as income once expenses and taxes have been deduced. How you know if you're doing well financially is of course to look at the bottom line when all is said and done.