6 Gen Z and millennial AAPI founders share advice on launching 5- and 6-figure businesses.
Matthew Miller
- May is Asian American Pacific Islander Heritage Month.
- Asian American-owned businesses generate $700 billion in annual GDP and employ 3.5 million.
- Six Gen Z and millennial AAPI founders offer advice for starting and scaling a business.
May marks Asian American and Pacific Islander heritage month, a celebration of the 24 million people who identify as one or more of the 40-plus ethnic subgroups that make up the community.
This diverse group of people helps make up the entrepreneur backbone of the US: Asian American-owned businesses generate $700 billion in annual GDP (between 3 and 4% of the US GDP) and employ roughly 3.5 million people, or 2% of the US workforce, according to a 2020 study by the management-consulting firm McKinsey & Co.
But there's been a big jump in anti-Asian hate crimes, which increased by 339% between 2020 and 2021, according to the Center for the Study of Hate and Extremism.
Despite the adversity, young Asian American and Pacific Islander entrepreneurs have continued to grow their six-figure businesses. Some launched marketing agencies based on supporting other women of color while others created apps that promote improving mental health.
Here, six Gen Z and millennial AAPI founders offer their advice for starting and growing a company.
Matthew Miller
Age: 22
Business: Alyssa Nguyen Design is a graphic-design business that aims to works with companies owned by women of color, many of which were disproportionately affected by the pandemic. Nguyen helps these entrepreneurs establish creative directions, build brand strategies, and manage social-media campaigns.
Growth: Nguyen booked just under $170,000 in revenue last year, according to documents previously verified by Insider.
Advice for starting up: Nguyen relied heavily on the community she formed online to find clients. To build her network, she shared her graphic design work on social media and posted photos and videos of herself.
"It's so important to get on social media — that's where the creative community lives," she previously told Insider.
SoundMind
Age: 23
Business: SoundMind, is a music-therapy app designed for people experiencing trauma, depression, and anxiety. Cofounders Travis Chen and Brian Femminella launched the app in November 2021, after they saw the effects of the pandemic on people's mental health.
Growth: The company raised $800,000 in a pre-seed funding round that closed in March 2022.
Advice for starting up: The pandemic helped push people to pursue their passions more, Chen said. "It's the prime time to do everything you can, eventually find what you love doing, and who you like doing it with," he added.
Courtesy of Zogo.
Age: 23
Business: Zogo is an education app that seeks to make financial literacy fun for young people. Li cofounded the company with friends Simon Komlos and Simran Singh in 2019. App users can take quizzes and play games to help further their understanding of various financial topics.
Growth: Zogo has been profitable since 2020 and has more than 100,000 users. It's also partnered with more than 100 financial institutions, including MassMutual, First Bank and Trust, Diamond Credit Union, and American Express.
Advice for starting up: Since the business is geared toward Gen Z customers, user comments on the company's social-media pages help promote the brand. Many clients flood Zogo's Instagram page with praise for its simple approach to financial knowledge.
Sherane Chen
Age: 24
Business: Sherane Chen's eponymous business is a marketing firm that focuses on social-media management, graphic design, video creation, and hiring. She launched the business in 2019, after working in restaurants for about five years.
Growth: Sherane Chen has 26 clients and earned six figures in 2020, according to documents provided to Insider.
Advice for starting up: After Chen launched her business, she found clients by selling her marketing services door-to-door.
"I would say, 'Hey I found your social and saw you weren't active and I wanted to give you some tips on how you can get more customers in the door,'" she told Insider.
Vivian Nguyen
Age: 22
Business: Cyndercake, an e-commerce site that sells pop-culture toys and merchandise.
Growth: In 2020, Cyndercake booked more than $60,000 in sales on Popshop Live, which Insider verified with documentation. Nguyen's success also helped her launch an e-commerce site in 2021. "When I was starting to sell, it kind of felt like a garage sale," she said. "I figured that an online shop would be a good step to officially make my mark as a business owner."
Advice for starting up: Instead of relying on current trends to predict the demand for goods, Nguyen suggests livestream sellers survey their customers. Additionally, highlight your personality and business in your livestreams so buyers connect with you.
"Sell yourself and your products in a way where people would be interested in supporting you and purchasing the products, not just for the item, but also because of who you are as a person," she said.
P. Mastro
Age: 28
Business: Amy Lee founded Amy Lee Life Coaching to teach people how to heal from trauma and abuse and reconnect with themselves. Lee works with clients one-on-one and holds group masterclasses.
Growth: Lee booked nearly $60,000 in revenue last year, according to documents previously verified by Insider.
Advice for starting up: When launching a new venture, Lee said it's essential to find a business model that doesn't lead to burnout. She suggests business owners prioritize at least two work-related tasks that they love and, if possible, outsource the remaining responsibilities to others.
"Focus on what you're good at," Lee said, adding that she doesn't enjoy technology-based tasks like systems and processing. "What does light me up is visuals, creating content, and coaching."
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