Yoseph West, Co-Founder and CEO of Relay Financial, recently shared insights on entrepreneurial growth and leadership during an episode of Becoming Self Made. Relay Financial is an online banking platform designed to enhance cash flow management for small businesses. West has an extensive background in the tech sector, previously leading marketing efforts at Hubdoc—acquired by Xero—and co-founding Vuru, which was acquired by Wave.
West emphasized that the growth of a business is intrinsically linked to the personal growth of its leader. He learned that initial momentum from hustle often wanes, necessitating a shift from merely working harder to working smarter. This evolution, he noted, is an ongoing process.
His upbringing instilled in him the value of independent thinking, which has guided his entrepreneurial journey. West encourages questioning industry norms and analyzing problems critically rather than accepting conventional wisdom. He listens to various stakeholders but considers their input as data rather than directives. This mindset has been vital in understanding the core issues that Relay aims to address—specifically, offering entrepreneurs transparent financial visibility.
West also highlighted the significance of effective partnerships, stressing that they should be built on mutual understanding and long-term alignment rather than mere vision. Successful collaborations, he argues, ensure that outcomes benefit all parties involved, particularly the customers.
In his view, scaling a business requires a founder to grow as a leader. This involves self-investment in coaching and personal development to meet the evolving demands of the organization.
West’s discussions underline key entrepreneurial lessons about questioning norms, fostering partnerships, and prioritizing personal growth alongside business expansion.
Key Points:
- Why this story matters: It highlights the crucial connection between personal and business growth in entrepreneurship.
- Key takeaway: Success hinges on continuous self-reinvention and fostering mutually beneficial partnerships.
- Opposing viewpoint: Some may argue that relentless hustle and long hours are essential to entrepreneurial success, contrasting West’s focus on strategic growth and self-care.
