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The Business Expert: The SECRET FORMULA That Launches Billion-Dollar Companies!

Jay Shetty Podcast・92 minutes read

Emma Grede, co-founder of Good American, shares her journey of overcoming challenges and fears to achieve success, emphasizing community support and inclusivity in business. Recognized as one of America's richest self-made women, she encourages listeners to join her podcast for more inspiring interviews and emphasizes the necessity of perseverance and facing challenges in entrepreneurship.

Insights

  • Emma Grede's journey emphasizes the significance of community support and overcoming failures to achieve success, highlighting the importance of inclusivity in business practices.
  • The speaker's experience underscores the necessity of taking calculated risks, acknowledging failure as a stepping stone to growth, and the importance of perseverance in pursuing entrepreneurial endeavors.
  • Prioritizing personal growth, self-compassion, and shared experiences in relationships are key themes discussed, emphasizing the value of continuous self-improvement and fostering meaningful connections through collaborative projects.

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Recent questions

  • How did Emma Grede achieve success?

    Emma Grede achieved success through perseverance and overcoming failures. She emphasized the importance of community support and inclusivity in business, co-founding Good American and other impactful brands.

  • What inspired Emma Grede in her career?

    Emma Grede found inspiration in fashion magazines growing up in East London, using them as a means of escapism and aspiration. Her diverse work experiences shaped her positive outlook and determination in entrepreneurship.

  • Why does Emma Grede emphasize inclusivity?

    Emma Grede believes inclusivity is not just a trend but an essential aspect of good business practices. She stresses the importance of solving problems she personally relates to and involving diverse perspectives in decision-making.

  • How did Emma Grede start her own company?

    Emma Grede started her own company out of frustration with her pay and feeling undervalued at work. Despite initial fears of failure, she took a chance on herself, learning from failures and emphasizing inclusivity in business.

  • What advice does Emma Grede give for success?

    Emma Grede advises staying hungry, innovative, and leading with kindness in interactions. She highlights the importance of perseverance, inclusivity, and not thinking oneself better than others for happiness and success.

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Summary

00:00

Emma Grede: From Failures to Fashion Success

  • Emma Grede, CEO and co-founder of Good American, shares her journey of overcoming failures and fears to achieve success.
  • She emphasizes the importance of community support and invites listeners to join her podcast for more inspiring interviews.
  • Emma Grede is recognized as one of America's richest self-made women by Forbes and is involved in various impactful initiatives.
  • She co-founded Good American with Khloe Kardashian, creating an inclusive fashion brand offering denim, ready-to-wear, swimwear, shoes, and activewear.
  • Emma is also a founding partner of Skims, a brand focusing on underwear, loungewear, and shapewear, and co-founder of Safely, a premium home care brand.
  • Growing up in East London, Emma found inspiration in fashion magazines as a means of escapism and aspiration.
  • Her upbringing instilled values of respect, trust, and ambition, with her mother teaching her the importance of self-worth and confidence.
  • Emma's diverse work experience, from paper rounds to serving in restaurants, shaped her positive outlook and determination to learn from every job.
  • She highlights the significance of unenjoyable work in building character and learning valuable lessons for future leadership roles.
  • Emma and the host, Jay Shetty, bond over their shared experience of doing paper rounds and the impact of early morning work on their appreciation for hard work and dedication.

13:16

"Lessons from Varied Work Experiences and Growth"

  • The speaker recalls delivering newspapers in the evening after school, using a trolley to transport them, which caused a lopsided shoulder due to the heavy bag.
  • Other kids delivering papers would throw them off train tracks or into bushes, leading the speaker to be praised for reliability and given more routes.
  • An example is shared about a TikTok star who found success through dancing and singing while working at Subway, showcasing the power of passion and energy in one's work.
  • The speaker discusses the challenging job of working in a fashion show production company before transitioning to a role in brand partnerships and marketing, emphasizing the importance of sales and storytelling skills in entrepreneurship.
  • Another individual shares their experience of cold calling to sell stands at a business Design Center, highlighting how the job helped them overcome introversion and shyness.
  • The conversation delves into the speaker's fear of not having a formal education and feeling inferior among peers with prestigious backgrounds, eventually realizing that fear can be a driving force for growth.
  • The concept of the "rule of thirds" is introduced, where one-third of the time is spent feeling happy, another third feeling okay, and the remaining third feeling bad, emphasizing the necessity of challenges for personal development.
  • The speaker reflects on the evolution of their priorities in relationships, from chasing love in their youth to valuing partnership and support in their marriage, especially during challenging times like raising children.
  • The speaker shares their past as a club kid, finding solace in the music and late nights of the club scene, which introduced them to alternative experiences and people, shaping their perspective on life.
  • The conversation touches on the speaker's need for escapism in their late teens and early 20s, seeking out new experiences like yoga and alternative lifestyles that were not prevalent in their upbringing.

26:05

"Balancing Dreams and Family: A Mother's Reflection"

  • The speaker reflects on their childhood, feeling like a loner compared to their athletic and popular siblings.
  • The speaker's mother described them as a dreamer and a doer since childhood, a trait that remains unchanged.
  • The speaker, now a mother, emphasizes the importance of children seeing their parents pursue their dreams.
  • The speaker challenges the notion of "doing it all," highlighting the need for trade-offs and dispelling the myth of balance in life.
  • A personal anecdote is shared about the speaker's mother, who balanced work and family life effectively.
  • The speaker stresses the significance of quality time with children, understanding their individual needs rather than a collective approach.
  • The speaker encourages women to lower their expectations and be honest about their capabilities, advocating for self-compassion.
  • Memories are highlighted as essential, with unplanned moments often holding more value than meticulously planned ones.
  • The speaker discusses the importance of releasing ego and focusing on what truly matters in relationships and parenting.
  • Love is identified as the core element that sustains a relationship, with shared projects and rituals contributing to a healthy partnership.

39:14

Creating Together: Strengthening Bonds Through Projects

  • Consistently creating together is crucial for relationships to thrive, whether through big or small projects.
  • Engaging in shared activities, like building a shed or a cold plunge, fosters excitement and connection in relationships.
  • The act of creating and working on projects together strengthens bonds and creates shared memories.
  • Engaging in new projects, like playing pickleball, can bring freshness and excitement to relationships.
  • Reflecting on past memories and experiences, even challenging ones, is essential for personal growth and evolution.
  • Continuous self-improvement and exploration are vital aspects of leading a fulfilling life.
  • The birth of the first child can be a transformative and defining moment in a person's life.
  • Women often downplay their skills and achievements, influenced by societal expectations and norms.
  • Being selfish and prioritizing personal needs and ambitions is crucial for personal growth and success.
  • Recognizing and accepting that not everyone in a team will share the same level of ambition or dedication is essential for effective team building and management.

51:49

Taking Control: From Frustration to Entrepreneurship

  • The speaker accidentally started her own company due to frustration with her pay and feeling undervalued at work.
  • She realized that she had to take control of her situation and start her own company as no one would hand her one.
  • Despite feeling scared of failure, she decided to leave her steady job and pursue something better.
  • She had a small amount of money and no major responsibilities, which made her feel like she had little to lose.
  • The speaker was honest with herself and had a voice that cautioned her against being too impulsive.
  • She believed that if she didn't take a chance on herself, she would regret it later in life.
  • She acknowledged that she had failed more times than she had succeeded but learned from those failures.
  • The speaker's ability to differentiate between the voices in her head came from reading books like "The Power of Now" and "Conversations with God."
  • She emphasized the importance of inclusivity in business and solving problems that she personally relates to.
  • The speaker believes that inclusivity and diversity are not just trends but essential components of good business practices from the inception of a product.

01:04:53

Diverse backgrounds improve company decisions and outcomes.

  • Decisions in companies are often made in an abstract manner, leading to mistakes and insensitivity.
  • Lack of diverse backgrounds in decision-making rooms can result in flawed decisions.
  • Bringing people from different backgrounds to decision-making tables improves company outcomes.
  • Initially, faced challenges in finding the right people who understood her vision.
  • Maintained confidence in her ideas despite initial struggles.
  • Maintained a mindset of perseverance and willingness to face challenges.
  • Staying hungry and innovative is crucial for continued success.
  • Defining winning by excitement in launching new products and giving opportunities to others.
  • Stress in business comes from external expectations and scrutiny.
  • Coping mechanisms include rituals, gratitude, and focusing on the positive aspects of life.

01:18:17

"Thoughtful Time, Humble Success, Kindness Leadership"

  • Advice on giving time thoughtfully and systematically
  • Importance of not thinking oneself better than others for happiness and success
  • Clarity and philosophy crucial for success and happiness
  • Impact of upbringing and individuality on children
  • Moving to LA for work and its unexpected positive impact
  • Elevating health and thinking to elevate life and capabilities
  • Importance of leading with kindness in interactions and daily life
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