Written by CAPA-JRC reporter Doris Wang
The first event, which took place on August 7, was held by speaker Terry Hsiao to teach participants more about business and becoming entrepreneurs. Hsiao, who currently teaches entrepreneurship at Marymount University, split his lecture into three sections: What I Have Learned, How to Be Successful, and Important Skill Sets.
In his first section, Tsiao introduced different lessons he has learned through his experience in the business field, the first being to follow current trends concerning your product rather than opposing them to make it easier to sell and sustain your product. The second lesson was to make sure your product was unique in its field, and identify what value your product creates. His third lesson was making sure to identify how you market your product and reach people, which is a very important step that most people overlook. Lastly, Tsiao taught us about the “Valley of Despair”, which was a phase most entrepreneurs went through where they doubted themselves and their goals. Tsiao told us to be ready for plenty of ups and downs when starting a business.
Hsiao speaking at the first event.
Tsiao’s second section consisted of lessons on how to maintain a good business. He said: “The first step is to find a group of people'', because “you can only do so much yourself.” Next, Tsiao taught about the first principle. The first principle, at its core, is “something you believe in and will drive everything else,” he said, explaining that it is important to be curious and passionate about your product. Tsiao then talked about the process of getting results, first with thoughts, which lead to actions that turn into habits and eventually form results.
Tsiao’s third and final section was on important skill sets, the first being the ability to learn and be coached. “You have to have the ability to absorb and be uncomfortable”, he said, as well as learn to embrace and appreciate new experiences to expand your potential. Another important skill set he mentioned was curiosity, as deep curiosity “produces grit that helps you persevere and get past obstacles.” Lastly, Tsiao taught about the skill set of empathy. He said that empathy can help you during negotiations to see from your customers’ perspectives and thus get a better outcome.
At the end of the lecture, Tsiao held 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.