How We Started the Young Business Club in New York City

If You Own a Business in New York You Need to Meet Bo! Who is Bo Iva, and what doors can YBC NYC open for you?
The Young Business Club in New York will turn one year old in October 2020. One year of exciting work and challenges taught us never to give up in the face of difficulties and showed that a super community of business founders is a great and inspirational force.
Bo Iva, co-founder and CEO of YBC NYC told us how everything began.
Starting My Own Business

I started my professional career by studying Law, and after achieving a master's degree in my chosen field, I searched for work to practice in a reliable company.

I was lucky enough to find a law firm in Europe that agreed to hire me as a trainee. After getting my foot in the door, I started working there 24/7 for the next five years, and I've made my way up from a junior associate to a counselor.
Interestingly, I was even promoted as the leader of a team of people, some of whom had interviewed me in the very beginning.
After these years at the law firm, having worked with clients listed in Fortune 500 Global and having completed many multimillion projects for them, I got inspired about starting own business and decided to launch an outsourcing company together with my friends. So, I left the law firm and did it.

Then my friend "); background-size: 1px 1px; background-position: 0px calc(1em + 1px);">Denny Copy, a co-founder of the Young Business Club, which has been already successful in Kyiv and London, told me about the idea to open such a club in New York. I got excited.

We talked to the co-founders and decided to take action. I was going to become a co-founder and CEO of the YBC in NYC.

Moving to New York City

We made the final agreements at the end of August, and on the 5th of September 2019, I arrived in New York City.
I had always dreamed of living in the USA. We are a generation of people who grew up on American movies and music. So it's not surprising that I wanted to try to live and succeed in this country. The USA differs from all the countries in many ways.
In New York, for example, people's mindset is concentrated on making cash. They will tell you, without any embarrassment, about making money and building a business to earn money because this is how to achieve an adequate level of life in the US.
And this is absolutely okay. The culture of entrepreneurship and doing business is widespread in America. Many people try to build something — from a small street business to great corporations.
When I came to New York, I understood that there was no one waiting for me here. I had to organize our business community and the people around me. And that was the biggest challenge ever.
Launching the YBC in New York

I started organizing the opening of NYC YBC planned for the 15th of October.

I appreciate the help of the teams from London and Kyiv — they taught me how to communicate with the future members of the club, how to tell them about us, and, most importantly — how to understand whether or not this particular person meets the values of the club.

I had appointments 24/7. My target goal was to invite a hundred people to the grand opening ceremony. One more challenge was to find a perfect place for the event. All the right places in NYC are usually reserved a half year before.
But I was sure of success.We signed the contract with The Yale Club of New York City two weeks before the ceremony. That day was my birthday, and I will remember it forever.
I met many interesting people back then. That was a challenging yet exhilarating time for me. One more thing we had to do before the opening — we had to find a fascinating and charismatic keynote speaker.
And we did it. We succeeded in inviting Evgeniy Chernyak, a founder of Khor, an international beverage company with a billion-dollar annual sales revenue. He agreed to join us, and that was a fantastic feeling.
After the YBC NYC Grand Opening Ceremony

When we launched YBC NYC officially, we started organizing its structure and our team — solving questions that we had had no time for during the first month.
Also, business people who had attended our event on the 15th of October were interested in becoming members and wanted to get information about the application process.
The period from the end of October until the end of December was full of live club events. We made many appointments for our members to help them get acquainted with each other, give them information about us, etc. We had at least one event every week.
COVID-19 Challenges

Of course, the quarantine changed our plans a bit, but we are very optimistic about our future.
Our plan is to have 100 members of the NYC YBC by the first birthday of the club.
We currently have 38 members, around 80 candidates on the waiting list from New York, and about a thousand entrepreneurs, start-up founders, business owners, and investors in the community around the Young Business Club from all over the world.
Going online helps us to encompass more people geographically. We now even have applications, not from the New York Greater Area. In total we received and considered over two thousand applications since opening of the club in New York.
Our plan for the next ten years is to launch the Young Business Club in 5 of the largest American cities.
Since all live events in New York were forbidden, we quickly switched all of our activities online. In the first few months of the crisis, we had 2–3 online meetings a week for our members. We wanted them to feel connected during this difficult time. Our speakers shared their knowledge and experiences regarding their survival throughout the crisis. And we continue to do this now.
Why Business Owners Come to the Young Business Club

I always say that the Young Business Club is not about being an event agency or for educating people only. It's a private business club, a safe place of trust, where entrepreneurs, start-up founders, business owners, and investors meet for further interaction.

Of course the members get numerous events with incredible keynote speakers, business education from those who have achieved better results in business, and personal development tips from various professionals. It's an extra-value of the club.

Some members come to us because they want to feel a personal connection with like-minded individuals and spend time together. It's an opportunity to make new friends even though they have a limited amount of time.
Others want to find new partners. During the six months since our founding, our members have already created four new business partnerships. We are so happy with this result.

Among our participants, there are investors and people who are looking for investment in their business. These members can build strong relationships and then start doing business together.
We help build these relationships with regular meetings such as the Forbes 30under30 keynotes, peer-to-peer sessions, thematic and mastermind sessions, family meetings, and a few other types of private events.
My Primary Focus Now Is Quality of YBC Members, not their Quantity

We always choose our members very carefully. We have particular criteria on the one hand, and on the other — we are looking for people who share our values.
After a candidate has made an application on the web-site, the first step is to have a conversation with our business manager. During this meeting, our team member tries to understand whether or not the candidate fulfills our requirements.
For the second step, I personally meet each candidate and make a final decision. After that, we help our new members get to know us, gather the necessary information about them and their business, and start helping them solve their business challenges by giving them connections with other members and people from the community.
Who May Become a Member of the Young Business Club

Only entrepreneurs, start-up founders, business owners, and investors whose annual sales revenue starts at $250k can apply to get on the waiting list and become a candidate for the Young Business Club.
There is no application fee for the new candidates and the annual membership fee is $5,590 if paid in advance or $6,960 if charged monthly.
Having an active business and the aforementioned amount of sales revenue does not mean that the person would necessarily become a club member, even if he or she brings $100k in cash and asks for the life membership.
Only those who would show that they care about their character as a measurement of social value may finally become members of our group. More specifically, it refers to the level of respect, honor, competence, and deference accorded to the high calibre of excellence of the Young Business Club community.
We are considering those business founders who share the YBC values of trust, growth, and interaction with others as potential members. And we would offer them the invitation to become the welcome members of the Young Business Club.
We must grow without losing sight of the high quality of the members and the interactions among them.
That is why growing from forty current members to eventually a hundred members is such an ambitious goal for myself and YBC team for this year.