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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379: Surviving a Flightless World with Brian Kidwell of Scott’s Cheap Flights

379: Surviving a Flightless World with Brian Kidwell of Scott’s Cheap Flights

Running a travel company in the middle of a global pandemic is not something Brian Kidwell would suggest for aspiring entrepreneurs. But Brian and his team were able to endure by trusting their product market fit and member base.   Scott’s Cheap Flights started in 2015 when Brian teamed up with his cofounder, Scott Keyes, to build a flight-tracking travel website. What started as a side hustle now has become a technology platform with over 2 million subscribers.    In this interview, Nathan Chan talks with Brian about: How a backpacking trip in Europe inspired him to start a travel company Why he didn’t meet Scott in-person for over a year "Duct taping" the early platform together using WordPress, Zapier, and ActiveCampaign Why hunting down a reporter’s email changed their business How they were able to survive the pandemic without making staffing cuts  The craziest airline deal he’s ever had  And much more... 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

13 Okt 202145min

378: Hosting Steve Jobs and Birthing Giants with Scaling Up’s Verne Harnish

378: Hosting Steve Jobs and Birthing Giants with Scaling Up’s Verne Harnish

After growing up around a failed family business, Verne Harnish was determined to use his experience to help young entrepreneurs succeed. 40 years later, he’s helped startups across the world scale to become multi-million dollar businesses and worked with some of the most famous entrepreneurs of our time.    Verne, known as the "Growth Guy,” founded the world-renowned Entrepreneurs' Organization, co-founded the Growth Institute, and has written 2 books including Scaling Up, Mastering the Rockefeller Habits.   Listen to Foundr CEO Nathan Chan discuss with Verne about:  Hosting Steve Jobs’ first public speech after being fired from Apple Why sales is still the best proven way to get to $1 million in revenue The traits of success he’s learned from entrepreneurs like Mark Cuban, Brad Feld, and Nate Blecharczyk  Remembering “the look” of Mark Zuckerberg, Michael Dell, and Steve Jobs Why cofounders scale further faster than single founders  Why every entrepreneur needs to be a little crazy And much more... 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

6 Okt 202143min

377: Billionaire Investor Tim Draper on Bitcoin, Tesla, and Anticipating the Future

377: Billionaire Investor Tim Draper on Bitcoin, Tesla, and Anticipating the Future

Tim Draper, one of the most successful venture capital investors on the planet, thinks all entrepreneurs should read science fiction. He believes anticipating what the world needs in 15 years is critical to creating an innovative business idea.    As the founder of Draper Associates, DFJ, and Draper University, Draper has been an early investor in Tesla, Skype, SpaceX, Twitter, Coinbase, and Twitch—just to name a few. The billionaire has also mentored well over 1,000 early-stage investors.   Foundr CEO Nathan Chan sat down with Draper to talk about:  The future-focused framework that will help you identify profitable opportunities  How traditional schools fail to prepare entrepreneurs for success  Why entrepreneurs must embrace mistakes Why the early stages of business should be like throwing a party  The value of focusing “a million miles deep and an inch wide”  The future of blockchain, Bitcoin, and entrepreneurship  And much more...   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

29 Sep 202135min

376: $1 Billion in Exits and Still Hungry with Catch of the Day’s Gabby Leibovich

376: $1 Billion in Exits and Still Hungry with Catch of the Day’s Gabby Leibovich

Gabby started Catch of the Day in a garage with his brother in 2011. Within 4 years they were Australia’s most viewed online shopping site. Since then, Gabby and his brother have invested in 20 startups and are hungry for more opportunities.    In this interview, Foundr CEO Nathan Chan sits down with Gabby to discuss:    Starting his entrepreneurship journey at age 32 The explosive popularity of Catch of the Day The formula for creating “luck” How he identifies intrapreneurs within his team Replicating his business toolbox with other brands The 1+1=3 concept  And much more... 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

22 Sep 202152min

375: How to Get a Million YouTube Subscribers with Alpha M’s Aaron Marino

375: How to Get a Million YouTube Subscribers with Alpha M’s Aaron Marino

After going bankrupt and losing his business, Aaron Marino launched a men’s lifestyle YouTube channel in 2008. Now he has over 6 million subscribers and is building his channel through sponsorships and ecommerce.    ​​Aaron is obsessed with optimizing his videos for YouTube and continues to test and tune to grow his audience. Now he’s ready to share what he’s learned.     ​​Aaron joined Foundr CEO Nathan Chan to talk about: Why thumbnails are the most important part of a YouTube video Why giving value up front keeps people watching  Why click-through-rate and watch time are the most important metrics for creators Why being a YouTube creator is like playing golf The worst mistake a creator can make  How Aaron became a more authentic version of himself on camera And much more...   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 Sep 202158min

374: Finding the Glam “Gap” for Magnetic Eyelashes with Glamnetic’s Cofounders

374: Finding the Glam “Gap” for Magnetic Eyelashes with Glamnetic’s Cofounders

Ann McFerran met Kevin Gould at a photoshoot in LA and immediately connected on his shared passion to start a brand. Together they launched Glamnetic in 2019, which sells magnetic and fake eyelash extensions. In their second year, they went from $1 million to $50 million in annual revenue.   In this episode of the Foundr podcast, learn how a seemingly “overnight” success was developed through years of commitment to creating an innovative product and a personal brand. Foundr’s CEO Nathan Chan interviews cofounders Ann and Kevin about:   How Ann used her artist background to create a unique product in the market Why it took a year of product development to create a quality magnetic eyelash  ​​How their magnetized liner “blew people’s minds” in the competitive beauty industry Being scrappy with product shots and finding free models on Bumble How Ann used Instagram Stories to share her brand journey and build a loyal customer base How they turned DMs into a sales prospecting channel Creating an ecosystem of marketing channels by testing and scaling  And much more… 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

8 Sep 202159min

373: Unlocking YouTube’s Audience with Ad Pro Tom Breeze

373: Unlocking YouTube’s Audience with Ad Pro Tom Breeze

Want to create successful YouTube ad campaigns? Of course you do!  YouTube boasts an audience of two billion (yes, billion) monthly users. The right ads can help you reach a big audience, build relationships with prospects, and enjoy a stellar return on ad spend (ROAS).  If you need help getting started, this episode of the Foundr podcast will empower you to reap the benefits of YouTube advertising. Foundr’s Nathan Chan sat down with Tom Breeze, founder and CEO of the YouTube ads agency Viewability. Breeze has made a career out of crafting thousands of successful ad campaigns for high-profile clients. And he generously agreed to share his strategies with the Foundr community.  Breeze joined Nathan to talk about:  The “Four A’s” that you need to consider while crafting your YouTube ad strategy  The three key elements that make up a solid YouTube ad campaign  Why YouTube is more stable than other social media channels  Whether or not your video ads need to be big-budget productions  The key factors that will position your brand for lasting success on YouTube  Why he’s so excited about the future of YouTube ads   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

1 Sep 20211h 3min

372: Biotech Billionaire Anne Wojcicki, Cofounder and CEO of 23andMe

372: Biotech Billionaire Anne Wojcicki, Cofounder and CEO of 23andMe

You’ve heard data has the power to make or break a business. Nobody knows this more than Anne Wojcicki, co-founder of biotech giant 23andMe. After 15 years of leveraging data to build a game-changing company, Wojcicki made headlines this summer when she became the latest self-made billionaire in the United States.    In this episode of the Foundr podcast, learn how the newly minted billionaire built 23andMe from the ground up—plus what the company plans to do next with all that genomic data. Foundr’s Nathan Chan sat down to chat with Wojcicki about:    The moment that inspired her to pursue “the solution to life”  How she became the first woman to achieve billionaire status via a SPAC merger What it took to provide consumers with never-before-seen access to their genomic data  The marketing plan that inspired customers to buy a product they didn’t know they needed  How she grew her company from a tiny crew in a roof-less “office” to a team of more than 600  What 23andMe plans to do with the genomic data from 11.6 million people and counting  And much more… fdsa 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

25 Aug 202153min

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