336 | Capital and Exit Strategies for Impact Founders with Miyoko Schinner
Miyoko is an epicurean activist out to create justice for animals, people and planet by connecting our palate to our future. VegNews of her “The enormously talented chef/TV host/singer/athlete/she-can-do-anything Miyoko Schinner is nothing short of a genius.” She is the Founder of Miyoko’s Creamery, one of the best known vegan butter and cheese companies in the world.
This episode is sponsored by the coaching company of the host, Paul Zelizer. Consider a Strategy Session if you can use support growing your impact business.
Resources mentioned in this episode include:
Exit Strategies for Impact Founders: Interview with Miyoko Schinner Transcript
NOTE: While it’s not perfect, we offer a transcript and the below summaries by Castmagic for those who are hearing impaired or who don’t find listening to a podcast enjoyable or possible.
You can read the full transcript of this episode here.
Key Topics and Bullet Points on Exit Strategies for Impact Founders
**Miyoko Schinner's Entrepreneurial Journey**
- Started a vegan wholesale bakery in Japan in the 1980s
- "Bootstrapping" approach with minimal capital and initial deliveries by subway
- Transitioned to creating alternative meats in the United States
- Challenges faced due to changing business climate favoring national brands over regional ones
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**Funding and Capital Strategies**
- Initial investments from friends and family
- Prioritizing personal networks over traditional capital strategies
- Received a loan from the city of San Francisco in the 1990s
- Challenges during the dotcom bubble in raising capital
**Importance of Community and Values in Business**
- Key to defining business goals and values before seeking capital
- Emphasis on understanding the purpose and long-term vision of the business
- Reconnecting with physical communities and local impact
- Focus on community-centered business models
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**Business Exits and Impact**
- Reflections on successful exits and profit distribution
- Challenges faced by entrepreneurs in a competitive business landscape
- Concerns about consolidations in the business system
- Emphasis on creating value for communities as part of successful exit strategies
**Global Food System and Social Impact**
- Impact of food choices on the planet and sustainability
- Responsibility of individuals in making food choices
- Challenges and inequities in the current business system
- Promoting justice and equity through business
**Miyoko Schinner's Current Projects**
- Working on a book about plant-based cheese and milk
- Leading trips focused on community building and vegan cooking classes
- Project to start the world's first vegan village and restaurants
- Advice for social entrepreneurs to design businesses supporting their lives and communities
**Challenges Faced in the Food Business**
- Demand from distributors and retailers for advertising dollars
- Need to raise additional capital as the business grew
- Inability to raise money from investors leading to selling the company
- Concerns about the pressure to go bigger in the business system