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

Episoder(574)

435: How to Create High-Converting Webinars with Casey Zeman of EasyWebinar

435: How to Create High-Converting Webinars with Casey Zeman of EasyWebinar

If you've hosted a webinar or live event that fell flat, then this episode is for you. Casey Zeman is the CEO and founder of EasyWebinar, a live-stream platform and marketing automation tool. As a former actor and mortgage broker, Zeman was fed up with having little control over his success. So with the encouragement of a friend, he became a video marketing consultant focusing on YouTube. His work as a consultant tapped into the capability of live videos and webinars as a sales tool. So, in 2015 he reinvested his earnings as a consultant to develop a plugin called EasyWebinar, which allowed people to create a live webinar through their website. In 2018, he changed EasyWebinar's model to a SaaS business, offering full services to any online business looking to engage and convert its audience.  Listen to Nathan and Casey discuss: How the 2008 recession spurred his career in digital marketing Becoming a video marketing consultant before it was a thing Investing his consulting earnings into developing EasyWebinar Changing his business model from a plugin to SaaS  The fundamentals of a high-converting webinar  The differences between automated and live webinars Webinar funnels and how they can generate qualified leads Using webinars as a customer retention tool Why feeling like an idiot is the most common webinar mistake And much more webinar and live event advice… This episode was powered by EasyWebinar. To learn more about EasyWebinar, and how you can use it to scale your business, visit; https://bit.ly/foundreasywebinar 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

18 Nov 202252min

434: Building a Beauty & Community Empire with Trinny Woodall

434: Building a Beauty & Community Empire with Trinny Woodall

Following a 20-year career in media, Trinny Woodall established herself as the expert in all things style, skincare, and makeup. Inspired by her unique design of stackable makeup pots, she established Trinny London in 2017 with the mission to give everyone the tools they need to feel their best. In this episode, Trinny shares her experience in product development, funding, personal branding, and how to develop a diehard fan base and community.  Listen to Nathan and Trinny discuss:  One of her early businesses selling socks to trade investors  Her weekly fashion column in The Daily Telegraph  Why the dot-com bust was the lowest point of her career What she learned from 20 years of television and What Not to Wear Selling her clothing to raise funds for Trinny London Launching and building Trinny London without paid ads   The personalization experience of Match2Me Starting a brand around your personal brand Nurturing the Trinny Tribe community  And more beauty 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

10 Nov 202258min

433: How to Create Momentum with Magnus Grimeland of Antler

433: How to Create Momentum with Magnus Grimeland of Antler

After graduating from Harvard Business School alongside future tech giants like Mark Zuckerberg, Magnus Grimeland traveled the world as a consultant for McKinsey. After exploring Southeast Asia, he decided to lay down roots and leverage the region's enormous business potential. From 2013-2017, Grimeland built ZALORA into Southeast Asia's largest fashion ecommerce business. Now, he's supporting fellow founders through his latest business, Antler, a global early-stage venture capital firm that invests in the defining technology companies of tomorrow. In the last 2 years, Antler made 190 portfolio company investments and has opened offices in 14 cities across 6 continents.   Listen to Nathan and Magnus discuss:  The atmosphere at Harvard during the Facebook era His journey to Southeast Asia and seeing its potential  Creating the first cash and delivery system in the region  Building ZALORA from scratch  Why ZALORA was a breeding ground for entrepreneurs His 3 things to look for in good talent  What separates Antler from most VCs Why time is the most valuable resource for startups And much more early-stage founder 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

7 Nov 202247min

431: Breaking Down Barriers Led to Billions with Alex Bouaziz of Deel

431: Breaking Down Barriers Led to Billions with Alex Bouaziz of Deel

Some might say Alex Bouaziz, cofounder and CEO of Deel, was simply in the right place at the right time. Deel, an international payroll, compliance, and HR solution, launched in 2019 and, by May 2020, raised $14M in funding. Currently, they have 8000 customers worldwide, including Dropbox, Airtable, and Shopify. But good timing will only get you so far. To launch and grow a company as successful as Deel takes leadership with a clear mission and a solid infrastructure. The idea was simple: Create a company that matched employers and talented workers from anywhere in the world and give them the opportunity to work for the best companies without having to relocate.   Listen to Nathan and Alex discuss:  What Bouaziz learned from his first failed business How his work visa struggles inspired Deel  Taking the idea for Deel to Y Combinator The massive growth from the Covid-19 pandemic  Scaling through infrastructure and the customer Deel’s talent development strategy  A passion for unlocking talent beyond borders And much more talent leadership 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

28 Okt 202243min

432: How “Recovering Accountant” Guy Pearson Built the Shopify for Services

432: How “Recovering Accountant” Guy Pearson Built the Shopify for Services

At 24, Guy Pearson turned down a partnership to start an accounting firm. His early clients were digital companies, and Pearson was jealous that there wasn’t an online commerce system for his industry. So in 2013, he launched a new company called Ignition to simplify and speed up the transaction process for professionals like him. To date, Ignition helped facilitate more than 1M client engagements and over $2B in client payments. Ignition has offices in Australia, Canada, New Zealand, Philippines, South Africa, US, and the UK, with over 170 employees globally.   Listen to Nathan and Guy discuss:  How intrapreneurship transformed into entrepreneurship  The challenges of building the original software for Ignition  Expanding to new markets outside of Australia  Why he still sits in on candidate interviews  The heartbreaking moments of raising capital  Starting vs. scaling a business  The balance between an accounting brain and entrepreneurial heart  How to lead with an experimental mindset Transitioning from a founder to CEO And much more business growth 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

26 Okt 202252min

430: Not All Leads Are Created Equal with B2B Sales Maverick AJ Cassata

430: Not All Leads Are Created Equal with B2B Sales Maverick AJ Cassata

Does the word “sales” make you squeamish or intimidated? If so, then this episode is for you. AJ Cassata is a maverick B2B sales consultant who helps entrepreneurs grow their businesses fast with his straightforward, systematic, and scalable approach to sales growth. His company, Revenue Boost, helps clients create a system for lead generation instead of just winging it.    Listen to Nathan and AJ discuss:  Starting in door-to-door sales as a teenager  Persevering through failure in his first business  Starting Revenue Boost to focus on lead generation  Why not all leads are created equal  How to stand out amongst competitors Why cold emails are still powerful  Implementing a repeatable process to get clients  How to spend zero dollars on advertising  LinkedIn Navigator tips and tricks  Why subject lines should be a disguise  And much more B2B sales 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

14 Okt 202240min

429: Why the Impossible Is Fun with Brian Scudamore of O2E Brands

429: Why the Impossible Is Fun with Brian Scudamore of O2E Brands

33 years ago, Brian Scudamore was sitting in a McDonald’s drive-thru when he saw his future–a beat-up pickup truck filled with junk. Scudamore started a junk-hauling business to pay for college, but what was supposed to fund his education ended up inspiring him to drop out. Today, Scudamore’s transformed his junk hauling side hustle, 1-800-GOT-JUNK?, into a North American franchise business worth $600M. People told Scudamore that it was impossible to franchise his business, but he’s proven them wrong by expanding his model into other brands like WOW 1 DAY PAINTING and Shack Shine.   Listen to Brian and Nathan discuss: Rebranding his business name to 1-800-GOT-JUNK? Transitioning from a corporate to a franchise business Expanding his model into WOW 1 DAY PAINTING and Shack Shine How “The CEO Whisperer” Cameron Herold helped scale the business The 3 types of entrepreneurship paths The compounding growth of franchise businesses His new book BYOB: Build Your Own Business, Be Your Own Boss What Shaq taught him about franchising  And much more franchise 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

7 Okt 202245min

428: Why Your Business Assumptions Are Wrong with Tim Fung of Airtasker

428: Why Your Business Assumptions Are Wrong with Tim Fung of Airtasker

Airtasker is Australia's #1 marketplace for local services. Over the past decade, they've acquired more than 4.3M registered users, built a worth of $255M, created a $1.7B value of job opportunities, and went public. But founder Tim Fung still feels the pains from the first 3 years, when everything he assumed about the business was wrong. He's learned that through the victories and failures of scaling a startup, remaining focused on providing value over profit is what lasts.    Listen to Nathan and Tim discuss:  The importance of going all-in on a startup Starting a business with 2 marketplaces  The 90-day wakeup call for founders  Inspiring users to use your product Sharing problems with your team Not putting off hard decisions Building a feedback muscle within your business And much more 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.    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

28 Sep 202247min

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