I’m raising my kids to think like entrepreneurs. I encourage them to negotiate even during sibling disagreements.

• Cheryl Sew Hoy founded Tiny Health to address her daughter’s eczema.
• Tiny Health is her second venture-backed company.
• She learned how to be an entrepreneur from her mom, and is teaching her kids the same.

This as-told-to essay is based on a conversation with Cheryl Sew Hoy, founder and CEO of Tiny Health. It has been edited for length and clarity.

I grew up in Malaysia, where my mother ran a business selling items from catalogues. When I was in fourth grade, she allowed me to sell her extra wares. I couldn’t carry it all, so I hired a local second-grader to help me. I told him he just had to help move the items — I’d do all the talking.

I knocked on the doors of businesses and homes, selling filing systems and talking alarm clocks. I knew even at that age to sell the problem, then offer a fix. I’d ask my would-be customers if they were having trouble waking up, then frame the talking alarm clock as the perfect solution.

I ended up making $800. I paid my helper $200 — a price we’d agreed upon ahead of time. Still, I was left with what seemed like a ton of money, and an interest in running my own business.

My first company was acquired by Walmart Labs

In high school I participated in a program for young entrepreneurs. Corporations from America sponsored the program and as students we formed companies, sold stocks, and got an intricate understanding of how business works.

Still, I wasn’t sure I wanted to be an entrepreneur. When I moved to the US for college I studied engineering. But being an engineer never felt right. It just wasn’t me. I was going through a lot of soul searching just as the 2008 financial crisis hit. From the devastation of that crisis, the New York fin tech scene started to blossom, and I had a front row seat.

I realized I was meant to build companies. My first company, City Pockets, was a digital wallet that was acquired by Walmart Labs in 2013. After that I stayed active in the entrepreneurship community, working as a consultant and angel investor.

I teach my kids that entrepreneurs solve problems

After my daughter was born, she developed severe eczema. There were steroid treatments, but nothing to address the root cause of her condition: her gut health. That’s why I founded Tiny Health in 2020. We created a product that showed really amazing results for my daughter and other children. By 2024 we had raised $13 million.

The company has been a perfect vehicle for talking to my kids about entrepreneurship. My daughter remembers what it was like to live with eczema, and she understands our product has made a real difference in her life.

I tell my kids that’s the difference between a business person and an entrepreneur: a business person sells things, while an entrepreneur creates a solution that didn’t exist. I want my kids to know they can build a solution, even when it seems impossible.

I want them to think about marketing too

Recently my daughter wanted to do a lemonade stand. We live in a neighborhood with not a lot of foot traffic, so I saw the opportunity to teach her about the importance of location and marketing.

We picked up some store bought-lemonade, because frankly I didn’t have the time for homemade. Then we headed to a busy local park. We offered the lemonade for free, but with a prominent tip jar. My daughter made about $60 in an hour, and she was thrilled.

I wouldn’t let her go door-to-door like I did as a kid, but there are still ways to teach her about business. Even if I’m just navigating sibling squabbles, I encourage the kids to “negotiate” with each other. I use that word intentionally. I hope those negotiation skills will help them not only play nicely with each other, but solve real problems in the future.