Ever since she was young, Cheryl C. Hoy always knew she wanted to run her own business.
“When the teachers asked what your ambition was … and many kids wanted to be a doctor or a lawyer. I had ambitions. [to be] A businesswoman,” she told CNBC.
That childhood dream is now a reality for the 39-year-old serial entrepreneur, whose ventures include Reclip.It, a consumer software startup that was acquired by Walmart Labs in 2013.
Now, she runs Tiny Health, a health tech startup that sells at-home gut health tests for mothers and children ages 0 to 3. The CEO and founder said the test helps detect gut imbalances early and prevent chronic conditions.
Just last week, the company raised $4.5 million in seed money and said its backers include US cryptocurrency exchange Coinbase, Google’s X, and Dropbox.
Siu Hoy, a Malaysian based in Austin, Texas, credits her success to her mother, who was also a businesswoman who ran her own marketing business in Malaysia.
“My mother She had her own business and was the boss. Before work from home became popular, she was already working from home and I always had this role model,” he added.
Things have come “full circle” for Sew Hoy, who is now a mother To the two children, aged 2 and 4, when she starts imparting the lessons she has learned to them.
What tips does she have for raising entrepreneurial kids? CNBC Make It finds out.
Engage in storytelling
It’s hard to teach kids what businesses they can create at a young age, but kids “remember stories” — and it’s a great way to expose them to entrepreneurship, Siu Hoy said.
When she modeled after her mother Just by observing, Sew Hoy said she wants to be “more intentional” about talking to her children about running a business.
For example, she tells her children about her work as CEO, the “backstory” of why she started Tiny Health.
“Talk to them like an adult, even if they think they’re too young to understand. The more you talk to them like an adult, [you’ll realize] They actually understand a lot and they learn a lot from it.”
By explaining to her children what she does, Si Hoy said she is also teaching them the value of money.
“I teach them why I’m working hard. Yes, it’s to make money but it’s not just to buy food or spend money. When you make money, you need to build something of value for people. What problems do you want to solve? In the world? “
Entrepreneurship is about problem solving and that’s something kids can learn from adversity, Hoy said.
“There’s a difference between great entrepreneurs and good entrepreneurs. Great entrepreneurs are the ones who will keep coming back because it’s really hard to run a company every day,” said Seau Hoy.
If kids just have an “easy ride” where problems are always solved for them, they’ll never learn that value, he added.
“It takes a lot of patience. My daughter screams and says, ‘Mommy, I can’t do this.’ I would encourage him to try again, and maybe help him a little bit,” she said.
“If she succeeds — especially if she succeeds on her own — she learns a lesson that ‘if you had given up before, you wouldn’t have made it.’
Sew Hoy said she saw “a spark” in her 4-year-old daughter after she had gone through the same scenario a few times.
“I know he’s learning because next time [she tries to do something], she told me, ‘Mom, I can do this. I’m strong.'”
“So if our lives become too easy, I will create adversity [for my kids].”
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