Written by CAPA-JRC reporter Emily Jia
The third event, which took place on August 15, had Rachel Wang, Ivy Shi, Sophia Shiu, and Emily Wu, who are co-founders of Girls for Business (GFB), speak about key steps to building your business. Wang, the business’s founder, describes the business as a non-profit organization whose mission is “to empower middle and high school girls interested in business.”
During the talk, the co-founders talked about how they believed there were five key steps to building a business.
The four speakers at the third event.
The first step was to ideate, which means to plan out the idea for your business and roll out your initiatives. They said to find what impact you wanted to make and who you were trying to impact and create objectives based on that.
The second step was to think about your team structure: how many people you want in your team, what qualities they need to have, and what you want them to do. The co-founders also talked about how important it was to set up strong communication for the team.
The third step was marketing. The speakers talked about how important it was that you had a clear idea of how your business would be presented. Organic growth is when your business is being spread orally, and they strongly recommended it over forced growth, which is when your business is being promoted through something like following someone on Instagram and having them discover you there. The speakers said that diversifying your marketing methods is very important.
The fourth step was to strengthen the engagement. They talked about how to maintain external engagement by staying consistent with your ideas, expanding into new projects, and improving upon your original initiatives. To maintain internal engagement, however, you need to strengthen the connection between team members and to give them more of an incentive to contribute. The fifth step was scaling your business. They gave examples of how GFB organized themselves in groups and teams and advised that you make sure the team gets to know each other well.
The speakers then held an inspiration session, where they told some stories about the importance of passion, and then ended with a Q&A session.
This article was provided by Chinese American Parents Association Junior Reporter Club (CAPA JRC) with members who interviewed, audio recorded, wrote, translated, and video recorded. CAPA JRC has 26 Montgomery County middle to high school students. They have created a bilingual platform delivering news and serving the community.