Creativity and Business: A conversation with Erika Yuen on female entrepreneurship
Author: Emily Nguyen
Women’s Entrepreneurship Day (WED) is a day on which the work of women entrepreneurs is observed and discussed. Traditionally, it is held yearly on November 19. The inaugural event was held in New York City at the United Nations with additional events being held simultaneously in several other countries. Overall, 144 nations have recognized WED as an official day to be celebrated. Within the Women in Science and Engineering chapter at the University of Toronto (U of T), we hope that our stories this month will offer insight into network of female business owners, entrepreneurs, and change makers who support and empower the community of women entrepreneurs and their businesses.
I had the pleasure of speaking with Erika Yuen, a 2nd year student at U of T. She is pursuing a Bachelor of Commerce, specializing in Management with Marketing and Strategy focuses and minors in Economics and Visual Studies at the Rotman School of Management. Erika is also the Vice President of Marketing of DECA U of T St. George. With her passions for creative assets and leadership, Erika shared her experiences with entrepreneurship and provided some suggestions for individuals who are interested in getting started in the business field.
What got you interested in entrepreneurship?
My parents are in finance-oriented careers so that initially sparked my interest in the business world. However, I pursued a slightly different path. In high school, I particularly liked visual arts and I wanted to apply those skills into my undergraduate studies. I also love being creative and coming up with new ideas. These were factors in my decision to pursue marketing specifically.
Erika emphasizes that students should not feel pressured to follow a “straightforward” path in business. Often, there are many opportunities to learn and gain experience along the way. She advises that individuals seize these chances to mold their own career path.
If there’s no field open to you right now, create opportunities for yourself. Find your niche. — Erika Yuen
When did you get involved with DECA U of T St. George and what is your group’s mission?
I was an active DECA member in high school and became familiar with the organization structure. Wanting to continue this extracurricular in university, I joined DECA in my 1st year at U of T as a Delegate. I am currently the Vice President of Marketing. DECA’s main initiative is to provide an inclusive environment for individuals who are not in business, to develop the interpersonal skills used in business. For instance, we train our delegates to improve their leadership and presentation skills. DECA is a diverse group and we’ve even had club presidents who aren’t business students! We aim to demonstrate that business knowledge can be applied to everyday life. In addition, I hope to break some common stereotypes about business.
DECA’s main event is DECA U Nationals. It is an undergraduate conference hosted for university students across Canada and consists of two days of networking, socializing, and case study competitions. The event is an opportunity for students to unite and connect their businesses communities together.
WISE is focused on the experiences of women and we work to empower women in fields in which they might be under-represented. Have you faced any challenges as a woman pursuing business and leadership roles?
I am aware of the barriers that exist for women around the world. Since I am not in the industry yet, I cannot speak directly on this matter. However, growing up I have noticed a shift in the individuals who hold leadership roles. Personally, when I was in elementary and high school, I noticed that women were often student union presidents. Shifting to the realm of entrepreneurial industry though, most CEOs are men. I’m wondering, at what point do we see this flip and why does it happen?
There is no denying that the business world is competitive and there are more qualified applicants than there are internships. Furthermore, the problem of wage inequality exists across multiple disciplines. Historically, men have been involved in the industry and workforce longer. However, our generation is changing and it will be interesting to see how this situation will unfold in 5 to 10 years from now. We can only continue advocating for women to achieve their full potential as world-renowned leaders.
Business and entrepreneurship are not easy. What motivates you to be an entrepreneur and what keeps you going in difficult times?
Motivation comes from passion. If you’re passionate and want to grow, you have to use your failures as a way to improve and develop your skills. For instance, if I don’t do as well as I want during a case competition, I will learn from the other inspiring presenters. I view failures as an opportunity to do better.
Ultimately, being genuine, passionate, and motivated to perfect your craft will help you get through challenges in your academic and professional career.
During the COVID-19 pandemic, there’s been a lot of pressure on companies and businesses to move online. What do you think the future looks like for business owners? What innovations have you seen?
The pandemic has really forced business owners to adapt to e-commerce. This shift was a lot more challenging for small businesses and those that thrive on in-person interactions. I’ve also seen an increase in service-type businesses and online shopping hubs such as Amazon. However, I believe that even after the COVID situation improves, consumers will still want to physically shop in-store. Getting the whole experience of trying on something you want to buy is invaluable. Nothing beats speaking with store owners and interacting with others.
Erika also highlighted the large increase in the number of small businesses that have been started during the pandemic. For instance, the video-sharing social networking service app, Tik Tok, has become an immensely popular platform for youth to advertise their creative ventures. From jewelry design to sticker decal production, younger individuals have made their mark in the business industry earlier than before. Although the pandemic has had detrimental impacts on global health and economy, many have viewed it as an opportunity to materialize their ideas into products.
What advice do you have for someone who is interested in pursuing business?
I’d say that my biggest piece of advice is to complete a business program, either in college or university to gain technical skills. Although you can start your own venture without formal education, taking foundational courses in basic accounting, finance, and marketing is very valuable. By carrying these assets into your business, you can reduce the need to hire others. Also, be open to what you can learn! Take lots of different courses. If you enjoy a course, this can shape the career field you pursue. For students who are pursuing sciences, consider trying a business course. Expose yourself to new opportunities!
People often mistakenly equate entrepreneurship with starting a business, where in reality, it’s more about the mindset of being creative and generating novel ideas. —Erika Yuen
Ultimately, business is a diverse field. There are so many opportunities to explore your passion and develop your skillset. If you are a creative like Erika, consider joining student-led business groups like DECA and exploring relevant course and program options in university. The future is bright for female leaders — seize each opportunity and bring your ideas to fruition.
Do you know an amazing WISE that you want to nominate an for an interview? Do you have a woman that you look up to whose story you want to hear? Nominate them today by commenting on this article or by messaging our Facebook Page. You can also find us on Instagram and Twitter!
