296: How Invitation Homes CEO Dallas Tanner Scaled a Multibillion-Dollar Home Rental Company at Breakneck Speed

296: How Invitation Homes CEO Dallas Tanner Scaled a Multibillion-Dollar Home Rental Company at Breakneck Speed

CEO Dallas Tanner on the breakneck creation and growth of multibillion-dollar home rental company Invitation Homes. Like a lot of successful businesses, Invitation Homes was a seemingly overnight hit that had been in the making for many years. “We bought the first 30,000 homes in the first 18 months,” says CEO Dallas Tanner, of the single-family home rental company. Based on that burst of early success, it might seem as though Tanner did the impossible—come up with a brilliant idea, instantly get buy-in from an investor, and reap immediate rewards. But long before Invitation Homes launched in 2012, Tanner had already cut his teeth in the home rental business. During college, he bought a couple of houses with his dad and managed them while going to class. He later founded the Treehouse Group Companies, which focused on workforce housing in the Southwest. So, when Tanner set out to start Invitation Homes, he did so with a large body of experience, knowledge, and accomplishments in his chosen field. That could have had something to do with the quick traction he got at Blackstone, his early capital partner and provider of funds for those 30,000 homes. “High speed, low drag,” Tanner says of their initial goal. There was an intense focus on getting out there, scaling up, and achieving meaningful gain in as short a time as possible. Were they worried, though, that the swift pace might blind them to any turbulence ahead? “If you’re building an airplane while flying it, there’s always a risk that you may miss a step. We were lucky to have no major issues and that’s because we were comfortable in the area we were building. We knew it and understood it.” That early work and knowledge of the industry paid off. In 2017, Invitation Homes went public with an initial share price of $20. Two years later, it hovers between $29-30 per share, a 48% increase. Blackstone sold its remaining shares (11%) of the company in November 2019 for $1.7 billion, bringing Blackstone’s total profit from IH to $7 billion. “As we think about our business, we’ve gotten more and more efficient here in year seven,” he says. “We’re focused on the kinds of things that deliver a really good customer experience but make us as optimized as possible.” For example, the inaugural days of the business found technicians switching out locks each time a home got a new resident. New tech eventually provided the option of electronic entry, which Invitation incorporated into its homes. Now, when a resident moves out and a new one moves in, only the code needs to be changed. This made the move-in experience that much smoother for new residents and saved time for the team. Remember, though, that the quest for good systems shouldn’t overwhelm everything. “You’ve got to spend your time being as efficient as possible, but driving growth at the same time,” Tanner says. “It’s always a balancing act.” He acknowledges that it also takes some luck and good timing. “But, the only way those things go your way is if you’re head down and going hard.” Interview by Nathan Chan, feature article reprinted from Foundr Magazine, by Rebeca Seitz

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419: Why You Need TikTok Ads with Gerardo Perez of Marketing&

419: Why You Need TikTok Ads with Gerardo Perez of Marketing&

Are you ready to leverage the popularity of TikTok to grow your business? Gerardo Perez is the founder of Marketing&, one of the world's leading digital agencies focused on driving paid results on TikTok. Gerardo has 11.2M likes, 323,000 followers, and generated over 100M organic views. He's spent more than $2M in advertising on the platform and is ready to share his strategies with you.    Listen to Nathan and Gerardo deep-dive on: The rise of his marketing agency Marketing& Examples of dramatic results for his clients  Why it's a good time to start investing in TikTok ads  The unique language of TikTok content  Creating native content on TikTok  Producing creative entirely on mobile  TikTok's targeting capabilities  Why brands should still post organic content  TikTok trends and their attachment to audio  Researching the TikTok ad library Mix and match creative  And much more TikTok ad strategies…   Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.   Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.    Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now...    For more Foundr content, follow us on your favorite platform:  Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine

4 Elo 202245min

418: Shopify President Harley Finkelstein on Building the World’s #1 Ecommerce Platform

418: Shopify President Harley Finkelstein on Building the World’s #1 Ecommerce Platform

Harley Finkelstein is an entrepreneur, lawyer, and president of Shopify. Harley was store #137 when he started on Shopify as a merchant in 2009. After law school, he joined the team at Shopify and helped build it into the world’s #1 ecommerce platform. In 2021, the Shopify ecosystem generated $440B in economic value. For Harley, the success of Shopify all comes down to a belief that entrepreneurship is the greatest equalizer on the planet.    Listen to Nathan and Harley discuss:  Starting his first business at 17  How he supported his family by selling t-shirts  Why he went to law school to be a better entrepreneur Meeting Tobias Lütke at a coffee shop in Ottawa  The early days of Shopify and the Build a Business Competition Why he started a tea business on Shopify store in 2021 Why he looks for obsessiveness when angel investing in companies  The importance of self-awareness as an entrepreneur And much more ecommerce wisdom…       Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.   Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.    Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now...    For more Foundr content, follow us on your favorite platform:  Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine

29 Heinä 202252min

417: Why Going Off-Script Led to a Billionaire Business with Jamie Kern Lima of IT Cosmetics

417: Why Going Off-Script Led to a Billionaire Business with Jamie Kern Lima of IT Cosmetics

Jamie Kern Lima spent 2 years pitching QVC for a segment to promote her business, IT Cosmetics. She was about to go bankrupt when she finally got her shot on the network. But moments before going on air, she went off-script. The decision changed her business and the beauty industry forever. Jamie built IT Cosmetics into a multi-billion dollar empire centered on authenticity before it was a buzzword. She became the first woman CEO in L’Oréal’s history and has written a book, Believe IT: How to Go From Underestimated to Unstoppable, about her incredible journey from the brink of bankruptcy to billionaire CEO.    Listen to Nathan and Jamie discuss:  Creating IT Cosmetics as a solution for her skin condition rosacea Sketching out a business plan while on her honeymoon  How to dig deep into your “why”  Creating a brand around an approachable beauty image Going off-script on her first QVC segment  The importance of her authenticity as a spokesperson Transition planning and selling to L’Oréal  And more female founder inspiration…       Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.   Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.    Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now...    For more Foundr content, follow us on your favorite platform:  Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine

21 Heinä 20221h 1min

416: The Power of One More with Author and Entrepreneur Ed Mylett

416: The Power of One More with Author and Entrepreneur Ed Mylett

How did Ed Mylett gain 3 million social media followers without spending a dollar on ads? Authenticity. Ed is an entrepreneur, best-selling author, performance coach, and speaker. He landed on the Forbes 50 wealthiest under 50, and was recognized as one of the wealthiest self-made people in the world in his 30s. His recently published book, The Power of One More, will help you learn why you're closer to your dreams and goals than you think.    Listen to Nathan and Ed discuss: How to read people and listen intently  Learning the "power of one" philosophy from his father's sobriety journey Overcoming imposter syndrome and failure in the finance world Lessons from his new book, The Power of One More Becoming friends with his hero Tony Robbins Building a media empire from scratch  Balancing 17 different companies And much more business mindset advice…       Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.   Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.    Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now...    For more Foundr content, follow us on your favorite platform:  Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine

13 Heinä 202256min

415: Unplugging Fees and Amplifying Fans with Phil Hutcheon of Dice

415: Unplugging Fees and Amplifying Fans with Phil Hutcheon of Dice

Everyone kept telling Phil Hutcheon “that's just how it is” when it comes to the absurd processing fees for concert tickets. That's why Phil started Dice, a platform for fans to see the musicians they love in the most hassle-free way possible. Since its launch in 2013, Dice has raised over $100M in capital, has more than 380 workers, and is expanding its services globally. From testing the business idea with a fake company to phone calls with Kayne West, Hutcheon built Dice into a commerce engine for the music industry.   Listen to Nathan and Phil discuss:  Why he rejected a promotion to start a career in music  Building the Modular Records sound through legendary parties Bootstrapping his music management company Deadly People  Testing a ticketing model with a fake company Scoring the first contracts for Dice Why it took 3.5 years to build out Dice’s discovery feature Working with artists like Adele and Kayne West Raising over $100M in capital after a slow start And much more fundraising advice…       Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.   Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.    Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now...    For more Foundr content, follow us on your favorite platform:  Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine

6 Heinä 202254min

414: How BURST Oral Care Turned Dentists into Raving Fans with Cofounder Brittany Stewart

414: How BURST Oral Care Turned Dentists into Raving Fans with Cofounder Brittany Stewart

Brittany Stewart is the cofounder of BURST Oral Care, one of the fastest-growing ecommerce businesses in the United States. She met her cofounder, Hamish Khayat, through a mutual friend, and it was a match made in startup heaven. Hamish had a revolutionary toothbrush prototype, and Brittany had the skills to make it a business.    After 3 years of attending dental conventions across the country, Brittany built BURST into a community of 30K dental ambassadors. Her ultimate goal–put a BURST product in every bathroom in America.    Listen to Nathan and Brittany discuss:  Bringing Hamish’s electric toothbrush prototype to life Why they felt like rock stars at their first dental convention How showcasing their ambassadors in ads doubled their growth Why customer service is the most important part of their business Working with influencers like the Kardashians Why clarity is the most valuable leadership trait  Hiring people based on personality over skills Why the giving is an investment in the business  And much more subscription-based business advice…       Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.   Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.    Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now...    For more Foundr content, follow us on your favorite platform:  Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine

1 Heinä 202248min

413: How Shipt Founder Bill Smith is Serving a New Generation of Renters

413: How Shipt Founder Bill Smith is Serving a New Generation of Renters

Bill Smith asked for a briefcase on his 5th birthday, and it’s been all business since. After dropping out of school at age 16, Bill started, built, and sold 3 companies over the past 15 years. His last business, grocery delivery service Shipt, sold to Target in 2019 for half a billion dollars. But Bill didn’t rest on his success. The same year he exited Shipt, he started Landing, a flexible and furnished rental apartment service. So what’s next for this wunderkind turned startup mogul?    Listen to Nathan and Bill discuss Dropping out of school without his parents knowing Figuring out the prepaid technology business  Exiting his first company to Green Dot Corporation  His step-by-step process for proving a business idea Why he never takes breaks between businesses  Proving demand in the early days of Shipt  Selling Shipt to Target for half a billion dollars Why selling Shipt changed his philosophy of business His goal to build Landing into an enduring company And much more business scaling advice…       Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.   Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.    For more Foundr content, follow us on your favorite platform:  Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine  Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now... https://foundr.com/bookacallyt

22 Kesä 202253min

412: How Zeb Evans Faced Death and Built Clickup into Tech Disruptor

412: How Zeb Evans Faced Death and Built Clickup into Tech Disruptor

After multiple near-death experiences, Zeb Evans decided to build a business that was net positive on the world. However, he didn’t realize that a custom internal productivity tool would become the business he was searching for. In 2017, Evans cofounded ClickUp, an all-in-one productivity management tool now valued at $4 billion.    Listen to Nathan and Zeb discuss:  Selling Disney DVDs from his hospital bed How a home invasion motivated him to drop out of school Starting his first company Fast Followerz from customized social tools How an unexpected seizure pushed him to move to Silicon Valley  Building ClickUp as an internal tool and discovering its value The early days of ClickUp and living in a stereotypical startup house Why investors were shocked that ClickUp was profitable  Maintain culture while scaling at a rapid rate  Why Zeb takes a bath every evening And much more tech startup advice…       Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.   Wait, there's more… If you enjoy the Foundr podcast, check out our free trainings. Get exclusive, actionable advice from some of the world's best entrepreneurs.    For more Foundr content, follow us on your favorite platform:  Foundr.com Instagram YouTube Facebook Twitter LinkedIn Magazine

15 Kesä 202249min

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