Being a driven, career-oriented woman is incredible, but being a girl-boss is a feeling like no other. However, many women who want to feel empowered by running a business, lack the guidance to do so. They’re lost when it comes to setting up a business, growing on social media, investment avenues and more. So, to help them out, we hosted an Ask Me Anything session on our Girl Tribe App with Malini Agarwal, the Founder and Creative Director of MissMalini Entertainment. She answered questions on growing businesses, creating an online presence, commercialising creativity and kick-starting one’s entrepreneurial dream. The questions were oh-so relatable, and she answered them beautifully! Here is all you need to know about being a girl-boss!
1. What are the legal formalities required to register a skin-care enterprise? What are the licensees needed and does it require a MSME registration? Plus, how does one select the best e-commerce platform for product listing without spending a bomb on marketing?
MSME is a registration for a company type and it has nothing to do with skin-care or cosmetics. It is an initiative by the government to encourage entrepreneurship in general. I think first look up the type of company you want to set up. Do a little more research in the category you wish to list in. Each one has their own set of licenses, Google is your best friend and also get advice from a good attorney. Cosmetics and skin-care as a category is capital intensive and highly competitive so make sure you know your target audience. You can list on Amazon and Flipkart via their marketplace model without any cost as they allow new sellers to register easily.
2. I am planning to do a start a new for online business, how do I increase my social media presence?
One of the things that really helps is following accounts that do similar work. You can even search for relevant hashtags and reply to comments on those posts. People will usually come see your account if you comment and are likely to follow. Also use Reels to showcase your work since Instagram is promoting reels the most right now! Also don’t forgot to enter a Girl Boss Spotlight on the Girl Tribe App too.
3. What do you feel are the best marketing strategies for growth and branded collaborations?
The best and most effective way tends to be using other platforms to amplify your own. Brands are always looking for good collaborations, if you have a small following to start begin with barter deals or featuring them for free and tagging them so they notice you. Then you can reach out and discuss longer term associations. Online growth depends on how unique or well executed your product is and word of mouth is very effective too. Depending on your target audience the communication and platforms to use may vary.
4. Are there any tips to overcome the difficult tasks of not only building a personal online brand, but also getting genuine followers?
Getting and retaining followers has always been the biggest challenge for brands. They key on social media, especially Instagram is to actively use all their features, especially Reels and collaborating with those who have a similar audience. Remember social media is all about being social, so remember to interact and engage with your followers on a regular basis.
5. My biggest challenges have been securing funding & expansion. How do I overcome these?
Securing funding can be quite time consuming and difficult, the best way to get started is to make an impressive Powerpoint Presentation which outlines your goals, revenue model and current burn (expenses). I find that investors invest in people more than businesses so practice your pitch and be confident when you present it!
6. How can I re-brand an old business while retaining a classic touch?
The best thing to do is reach out to your current audience and get feedback from them on what improvements they would like to see. Usually keeping your brand communication simple and easy to understand is the way to go!
7. How can I gather corporate support for my Non-Profit Organisation?
Create your core values. Research costs and create a budget. Start fundraising for startup costs. Incorporate your new non-profit. File for a tax-exempt status. Once you have decided your core goals you can reach out to different companies that fit your long term vision.
If you have any tips for kick-starting an entrepreneurial dream, share them with us in the comments below!