EO Wonder Podcast: On Pivoting to Pursue Your Passion

EO Wonder Podcast host Kalika Yap (EO Los Angeles) recently welcomed Iva Chen, the CEO of IOC Design & Consulting and managing partner of Lady Luck Gourmet, which owns and operates Go Bistro and Mama Go’s Filipino Cuisine in the San Francisco International Airport (SFO). Her team also opened the first independently owned Panda Express at SFO.

As a mother of two children, an Army ROTC bootcamp grad, ex-Deloitte CPA, and triathlete, Iva has a unique perspective on discipline, creativity, and balancing business and life. These are three lessons entrepreneurs can take from Iva’s story:  

1. Lean Into Your Strengths

Iva’s journey from CPA to entrepreneur was shaped by her family business and personal resilience. “I spent about 10-12 years in corporate finance, and then figured out I am really much more of an entrepreneur at heart,” she says. “I love to take risks. I love to think outside the box. Efficiency is my middle name — I thrive in efficiency.” Like Iva, entrepreneurs should trust their intuition and follow their instincts. Though that road may feel uncertain, opportunities await.

2. Focus on Financial Discipline

With her accounting expertise, Iva emphasizes the necessity of truly understanding the bottom line: “Accounting is the language of business,” she says. “You have to know your numbers in order to make a profit, and restaurant margins are notoriously thin.”

She advises entrepreneurs to monitor cash flow and financial statements regularly so that they are prepared should any unexpected obstacles or opportunities arise: “You should have financial statements and, if you go into any partnerships, there should be a lot of transparency.”

3. Delegate and Build Systems for Growth

Iva advocates for strategic delegation: “The first things you delegate are things that you are not good at and that you do not enjoy doing,” she says. Iva hired an executive assistant to handle those tasks, freeing her up to tackle projects that move the needle. She stresses the importance of focusing on “money generating activities” and using tools and support systems — such as executive assistants, au pairs, and therapists — to free up time for business development and personal well-being.

Listen to the full EO Wonder interview with Iva Chen on Spotify or Apple Podcasts.