In today's commercial world, proficiency in English can significantly set a successful business apart from those challenged by communication barriers. English acts as a bridge to international markets, enabling businesses to establish worldwide partnerships and connect with a broader audience.
Effective use of English can amplify marketing strategies, enhance customer engagement, and simplify and manage the complexities of legal and financial dealings across different countries. Let's explore an example where English proficiency has been instrumental in a business's success.
Max Kortrakul, the dynamic CEO and co-founder of the company StockRadars, has become a pivotal figure in the business world spearheading innovation within Thailand's thriving stock investment scene. His mobile application, a beacon for stock investors in the region, encapsulates the surge of technology start-ups that Southeast Asia is witnessing. With the prestigious Asia Pacific ICT Alliance Award under its belt in 2014, StockRadars exemplifies the caliber of start-ups emerging from this vibrant corner of the world.
In 2015, Southeast Asia's tech industry saw an unprecedented influx of deals, and as projected by a fascinating report by Temasek and Google Singapore, the internet economy is poised to soar, potentially amassing a staggering US$200 billion annually over the course of the next decade. Amidst this digital gold rush, Max unearths his entrepreneurial saga – from seducing investors with a mere concept, to architecting a budding enterprise with English as a critical cog in reaching an impressive valuation of US$15 million.
The genesis of a pioneering app for stock investors
Eager to democratize the daunting task and practice of stock investing, Max identified a crucial void in the market – intuitive and user-friendly analytical tools. "Investment should be accessible. My vision was to demystify the stock market terrain for both myself and the wider audience in Thailand" he reflects. StockRadars embodies this ethos, distilling complex market data into streamlined, actionable insights, accessible right from your smartphone.
From sleepless nights to a sound business proposition
Max was burning the midnight oil when inspiration struck - that unshakable idea that jolts you awake at 3 a.m. Consumed by potential, he channelled all his energy and focus into writing and crafting the app. "It's about conviction and the audacity to give life to your concept," Max states. "Some ideas propel you into the celebrated Unicorn list; others are stepping stones to the next big venture."
The art of engaging investors
Successful fundraising transcends mere numbers. For Max, it hinged on substantiating his commitment and the sweat equity he poured into StockRadars. "Investors bet on people, not just ideas" he states. Presenting the app as a tool that could help alleviate risk and simplify stock market investment was key to unlocking investor confidence.
Tackling pitchroom anxieties
"I shunned the notion of insignificance," Max admits. Being from a region sparse in tech success stories, he focused on his personal goals and conviction to succeed rather than his country’s size.
Navigating the pitch in English could intimidate, but Max was a proponent of simplicity over jargon. His prior stint in an IT firm in Vietnam had polished his own English skills and vocabulary, a skill he used to his advantage.
Multicultural mindsets driving innovation
Working in diverse environments has broadened Max's horizons, teaching him the value of "English variants" in seamless communication. "Diversity shapes our business ideology" notes Max. Interns from Nepal and England have enriched StockRadars, bringing distinct perspectives to the table and fuelling innovation.
The language of opportunity
"English is the connective tissue in the global business landscape" Max asserts, underscoring its significance in multiplying prospects and fostering networks. With Southeast Asia becoming a fertile ground for tech start-ups, English proficiency is not just an asset; it's a gateway to turning start-up visions into tangible successes.
Why is English so important in business?
In today's global economy, where over 1.5 billion people speak English, it serves as a crucial tool enabling cross-border collaborations and partnerships.
For successful entrepreneurs, like Max, proficiency in English is not merely an academic accomplishment but a strategic business tool that enables effective communication across diverse cultures and geographic boundaries. It breaks down barriers, allowing businesses to access and engage with international clients, partners and investors effortlessly.
In settings where colleagues of diverse nationalities meet, English is the shared language that promotes effective communication and understanding, boosting workflow efficiency and fostering workplace inclusivity. Whether it's negotiating deals, drafting contracts, or conducting marketing campaigns, English proficiency is essential, enhancing professional capabilities across various sectors.
Therefore, speaking and mastering English is not merely a skill but a critical asset, increasing occupational prospects and driving careers and business success in a world where many professionals consider it the language of global business.
This linguistic skill enhances understanding of global market trends and consumer demands, fostering opportunities for collaboration and innovation. Furthermore, English is the predominant language of the Internet, digital marketing and global trade agreements, making it indispensable for businesses aiming to develop and capitalise on e-commerce and digital platforms.
In essence, for many business professionals, English is more than a language; it is a catalyst for business expansion, innovation and competitive edge in the increasingly interconnected global economy.
Ensure your own business success
Are you an aspiring business maverick? Amplify your reach, unlock investment opportunities, and join the ranks of elite companies and start-ups like StockRadars. The trajectory to success starts with a single step - and sometimes, that crucial step is mastering the English language.
Unlock the doors to global success with Pearson's Business English Courses. Whether you're an emerging entrepreneur keen to pitch your next big idea with confidence or a seasoned professional looking to enhance your own knowledge and communication in the international market, our courses are designed to refine you or your students business English language skills.
Read our other posts on workplace English, such as 'Cutting through corporate English: Clearer alternatives to business jargon' and 'Ways language training can transform your business'.
