How Qount helped Grace & Lace scale their business

graceandlace.com

 
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Hello, Rick! Tell us an interesting trivia about Grace & Lace to begin with?

Grace & Lace is a triumph that was born out of tragedy. Melissa, my wife and the founder of Grace & Lace, was advised horizontal bedrest during our pregnancy. It is during this phase that she learned to sew to make the baby a blanket. However, we lost our newborn Halle, upon delivery because her lungs weren’t developed. We were devastated at the loss but instead of being mad at God, bitter, asking, ‘Why us?’ we decided to trust God through our pain knowing He was in control. We didn’t need to understand but our hope was that something good would come from the tragedy. That’s where Grace & Lace was born and it’s really a story of tragedy to triumph.
 

I’m sorry to hear that, but I can’t help but say it’s quite a fascinating trivia. How satisfying is it to run your own business?

It is extremely enriching. Being our own bosses is always exciting, but the staff we work with makes Grace & Lace even more special. We’ve hired our friends and family to work with us at Grace & Lace and it feels great to work with the best people in the world.
 

How does it feel working with your wife?

We work together and perfectly complement each other. Melissa is strong where I’m weak, and vice versa.
 

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Talking about weaknesses, tell us about one roadblock that your business faced, and how you managed to overcome it?

After Shark Tank happened to us, we were on an aggressive growing curve and we needed equally aggressive and passionate vendors and partners to work with us. Unfortunately, accounting became a huge challenge. We were actively looking out for an accounting partner with business scalability to meet our growth plans, along with a deft professional advisory board who would be proactive and play a key role in our growth curve. It was a difficult task at hand, but we met just the right people we were looking for.
 

How did you overcome the challenge?

Thanks to Qount, overcoming the challenge was a cakewalk. We partnered with the versatile Qount to manage our accounting tasks end to end, including finalisation of financials for reporting, management of compliances, tax preparation, and an extremely professional and expert finance advisory on demand.
 

What do you like the most about Qount?

Even though Qount is based out of Plano and we out of Austin, it never felt we were working across geographies. We have collaborated and got along like a house on fire because we share the one essential core quality needed to grow aggressively – passion for good work.

Also, because Qount has an extensive knowledge of how startups are run, they know how crucial accounting is to a business that’s scaling up. It doesn’t feel like we’re working with an accounting service provider – rather, it feels like we’re working with a very deft accountant at the other end.
 

Any parting word?

We’re here to change the world. We contribute a portion of every sale toward building orphanages in India. We’ve also opened a Freedom Home in Nepal, where girls and young women rescued from sex trafficking learn occupational skills. So, try and do whatever in your capacity to make the world a better place – contribute clothes, donate a part of your earning, teach a child, provide first-aid to old people, and the likes.

Also, don’t try to save by staying away from services that would help grow your business. Instead, invest in tools, services, and products that would take your business to greater heights, like we invested in the wise Qount!