1. it (the concept of a particular entity (or characteristic); the beginning of thought)
  2. to be (existence; there is no question more important about 'it' than whether "it is")
  3. to have (expresses the idea that entities possess characteristics; allows you to say "it has it")
  4. to do (actions taken by existents; allows you to say "it does it")
  5. not (negation; allows you to say "it is not" "it has not it" "it does not it")
  6. if (counterfactuals; projection into future; imagination; allows you to say "if it has it, it does it")
  7. and (combining elements; allows you to say "if it has it and if it does it, it is it")
  8. I (establishing self as a special instance of 'it')
  9. he/she (the concept of a sentient entity aside from 'I' (another special instance of 'it'; there really should be single word for he/she))
  10. believe (the 'it' contained in the mind of a sentient (and not necessarily in the real world); allows you to say "I believe it does it, and he believes it has it, and it is not" (i.e., we're both wrong))
  11. but (thought and speech facilitator; like 'and' but indicates that a different type of thought follows; allows you to say "I believe it does it, and he believes it has it, but it is not")
  12. or (thought and speech facilitator; allows you to express 'if w, z. if x, z. if y, z' as 'if w, x, or y, z')

These are the basic concepts. Almost every other word in English is a further qualification of 'it'.