In this episode of the Wynn's Kitchen podcast, host Wynn Austin speaks with Soon Hagerty, founder of the Boundless Futures Foundation, about the importance of supporting women entrepreneurs. They discuss their personal journeys as Vietnamese immigrants, the challenges of entrepreneurship, and the mission of the foundation to provide financial resources and mentorship to aspiring female business owners. The conversation highlights the need for financial literacy and access to capital, as well as the impact of social issues on business success. In this conversation, Soon Hagerty and Wynn Austin discuss the significant gender disparity in venture capital funding, the importance of community support for women entrepreneurs, and the challenges they face in their entrepreneurial journeys. They emphasize the need for women to prioritize their time, say no to distractions, and be financially savvy. 

The discussion also highlights the vision for Boundless Futures, a foundation aimed at supporting women-led businesses, and the importance of celebrating small wins in the entrepreneurial journey.

Takeaways

• Women inspire me, especially female founders.
• Access to financial capital is crucial for entrepreneurs.
• Mentorship is vital for navigating business challenges.
• Many entrepreneurs lack focus and can overspend early on.
• Financial literacy is often underestimated among founders.
• The foundation provides grants to women with social impact businesses.
• 43% of U.S. businesses are owned by women, but only 3% receive venture capital.
• Personal stories of immigrant families can drive entrepreneurial spirit.
• Starting a business without experience can lead to valuable learning opportunities.
• The restaurant industry has a high failure rate, emphasizing the need for savvy business practices. 97% of venture capital goes to men-led businesses.
• Women often struggle with saying no, impacting their focus.
• Community support is crucial for women's success in business.
• Women-led businesses tend to be more community-oriented.
• Flexibility in entrepreneurship is vital for women with families.
• Financial literacy is essential for entrepreneurial success.
• Prioritization is key in managing entrepreneurial challenges.
• Celebrating small wins can boost morale and motivation.
• Networking can lead to valuable mentorship opportunities.
• Starting a business requires clarity on the problem being solved.

To learn more about the opportunities at Boundless Futures:

https://boundlessfutures.org/

https://www.instagram.com/boundless_futures/

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Thank you again for listening and until next time, keep cooking up your dreams. You’ll never know when it turns into reality.

xoxo,
Wynn