Journey To An 8-Figure E-Commerce Business

#23: Building and Scaling the Grace Eleyae Brand with Grace Eleyae Part 3

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In this episode your host Emmanuel Eleyae talks more with Grace Eleyae - founder and CEO of graceeleyae.com. They talk about the pros and cons of business growth and specifically the pros and cons of having a 3PL. They also discuss how growth is a choice and it can sometimes be beneficial to intentionally stop business growth. You’ll also hear their advice for those in business with their family and the kinds of protections you need to have in place. Grace talks about how she feels like a success and how success is a mindset.

Timestamps:

The Pros and Cons of Business Growth

  • (0:44) Grace talks about some of the struggles, specifically with shipping, when they were scaling GE.
  • (2:57) Emmanuel talks about strategic ways to scale a business and the fallbacks that can happen when you aren’t prepared for that kind of growth.
  • (5:20) Emmanuel and Grace talk about the pros and cons of having a 3PL and why it is important to pay attention close attention to what they’re doing and what they’re charging you for.
  • (12:05) Grace and Emmanuel talk about ways they intentionally and unintentionally stopped growing the business and the benefits of stopping growth.

    • Struggles and Advice for Family Business

    • (16:48) Emmanuel talks about how growing a business with family can cause a strain on the relationships.
    • (19:03) Grace talks about the strain of growing a business with family from her perspective and how a lack of trust causes problems with both the business and the family dynamic.
    • (22:46) Emmanuel talks about how the pressure for the business to succeed is even higher when family is involved and it can lead to poor business decisions. Grace talks about how with family, the highs are high but the lows are low.
    • (24:38) Grace and Emmanuel debate whether it is possible to have a successful family business.
    • (26:55) Emmanuel gives his technical advice for people thinking of starting a family business.
    • (28:31) Grace gives interpersonal advice for people thinking of starting a family business.
    • (30:52) Emmanuel and Grace talk about the importance of boundaries in a family business and how they did this in their situation.

      • Things to Consider

      • (32:26) Grace and Emmanuel talk about how beneficial it is to have a coach, mentor, therapist, or third party to talk to outside of the business.
      • (34:44) Emmanuel talks about how it’s important for senior leaders to have assistants and how you should take care of your founders and leaders so work goes more smoothly.
      • (35:49) Grace talks about how risky it is to make generalizations when you should be specific and how people in family business take things personally when they should be getting specific.

        • Success and Failure

        • (38:24) Grace talks about how she views success and whether or not she feels like a success.
        • (42:52) Emmanuel talks about how success is a choice and a mindset.
        • (44:42) Grace talks about success vs. failure and the importance of celebrating success no matter how small.
        • (46:48) Emmanuel and Grace talk about what they’re planning on doing next for Eleyae Systems and graceeleyae.com.

          • Resources:

          Grace’s Website: graceeleyae.com

          Grace’s Instagram: @graceeleyae

          Grace’s TikTok: @itsgraceeleyae

           

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          Journey To An 8-Figure E-Commerce BusinessBy Emmanuel Eleyae
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