Investors & Operators 51 Labs

Topics:
Discovering Your PurposeLessons from His DadFranchise or Start-Up: Which Way to Go?
...and so much more.
Top Takeaways
What is your “why”? As chairman and CEO of Lawn Doctor, spanning over 650 locations, Scott has the opportunity to travel the world and experience all of the different cultures of their franchisees. Connecting their narratives of life ambitions and goals with those of Scott’s father has anchored, he was able to find his personal “why” and fuel his dedication.
Lessons from Dad. Scott learned valuable life lessons from his dad, who emphasized the importance of character and work ethic. Scott’s dad believed true integrity reveals itself in actions when no one's watching, a principle Scott also embraces. His dad taught him that franchise relationships and unit economics are interconnected. Scott emphasizes the importance of genuine care for franchisees and careful management of upfront costs to nurture lasting relationships.

Should you franchise or start your own business? There are a few things to consider before making this decision. Scott and Jordan explore the decision-making process between franchising or starting your own business. Being honest with yourself when determining the amount of risk you are willing to take will help decide whether to franchise or to start fresh.

Topics:
Who is ready for a fund in this market?How do I build momentum during fundraising?What are the Do's and Don'ts in fundraising decks and first meetings?
...and so much more.
Top Takeaways
Strategies for Differentiation. There's no shortcut to experience in this space. Showing up to meetings with findings is important, but showing theories while backing them up with an explanation and story will set you apart. Liz states how you can differentiate yourself by connecting with a management team and proving to them that you've done your homework
How to build momentum during fundraising. Maintaining stability on your team while growing your firm is key. Liz paints a clear picture of what success looks like and takes us through the steps to fundraise. She emphasizes the importance of delivering on promises and reminds us to stay within the parameters of size, sector, and purchase multiple. 

Key Do’s and Don'ts for Emerging Managers. Having a pitch book helps articulate who you are, what your strategies are, and the backgrounds of you and your team. Liz elaborates on her distinct initial screening approach, emphasizing understanding each individual's "why," the importance of a strong track record, and exploring diverse pathways to establish it.

Topics:
Value CreationOperating SystemsTrends in Healthcare & Life Sciences
...and so much more.
Top Takeaways
Careers aren’t always a linear journey. Staying open to unexpected opportunities, prioritizing meaningful connections, and personal fulfillment allow you to navigate life with more flexibility. Matt advises young professionals to embrace unpredictability in their career paths, recommending a focus on strengths, motivations, and building relationships rather than fearing that their next move won’t be the right one. 

Mission vs. Vision. Involving the team when developing these statements is crucial to ensure authenticity and buy-in across the entire company. Jordan and Matt highlight different aspects of refining a company's mission and vision statements that will truly stand out and resonate throughout the business. Overall, their approach underscores the significance of team collaboration and ownership when crafting a mission and vision that truly guide and motivate the entire company.

Candid Communication. Assumptions can be dangerous, especially in a business setting. Matt highlights the importance of over-communication and engaging in open, direct dialogue with colleagues and stakeholders. He emphasizes the value of ensuring alignment across the organization by openly sharing perspectives and actively seeking feedback to gauge agreement or disagreement. Maintaining this transparency throughout the business fosters productive partnerships among peers and achieves company goals.

Topics:
Transitioning from tech to doggy daycaresPartnering with Pet Resort Hospitality Group, a PE-backed pet boarding and daycare platformTaylor’s journey with sobriety
...and so much more.
Top Takeaways
Embracing sobriety. Taylor and Jordan’s conversation about alcohol and addiction emphasizes the importance of recognizing unhealthy habits and looking for balance in life. Transitioning from relying on alcohol for relaxation and celebration to embracing sobriety led Taylor to a more fulfilling and purpose-driven lifestyle. They both discuss the power of seeking help, and making tough decisions. It's possible to live a phenomenal life without alcohol.

“Humans are super capable of change across every area of life.” Whether it involves a career shift, starting a business, or pursuing personal growth, Taylor believes in every human’s capacity to change and adapt, regardless of the different challenges they may face. He shares the importance of discovering the “playbook” for the area of life you want to change and following the directions. For Tayler, he serves as an example of transformative change, whether it’s transitioning professionally from technology to finding success in the doggy daycare industry or personally, during his journey to sobriety.

Advantages of a PE Partnership. Taylor and his co-founder, Mike, discovered that partnering with PRHG provided them with many advantages they didn't have before. Not only did they gain access to additional capital, but they also received industry knowledge and operational support while staying involved in the day-to-day operations and pursuing their passions. This partnership seamlessly integrated Paws ‘n’ Rec into PRHG’s extensive network and experience, allowing Taylor and Mike to expand their business more efficiently than they could have on their own. The successful partnership highlights the benefits of partnering with private equity firms to grow and scale your business.

It currently costs up to $500,000 per dose for stem cell therapy. Applied StemCell is going to change that.
In this episode of Investors & Operators, Jordan speaks with Ruby Tsai, CEO and Co-founder at Applied StemCell, for a fascinating discussion on stem cells and how her partnership with a private equity firm - QHP - is taking ASC to the next level. Together, they discuss:
How ASC is revolutionizing gene editingCurrent Cell Therapies Partnering with QHP
...and so much more.
Top Takeaways
Always believe in your business. Ruby firmly believes in Applied StemCell, which led her to leave her position at Stanford University. Her faith in ASC’s potential impact and ability to save human lives truly drove her decision. While initially scared to make the jump, Ruby emphasizes the importance of believing in yourself and your businesses, sticking to your values, and having faith in your work. Highlighting the importance of pursuing what you believe in and what aligns with your values.
The importance of the management system. When discussing QHP’s management system, a framework that transforms companies that are at a growth inflection point, Ruby notes "I didn't pay that much attention to it." She shares how she initially overlooked the management system, but after a week of installation training and hands-on experience, she truly understood its significance. Proper implementation of this system leads to increased productivity and effectiveness throughout a team and organization, particularly for companies at a growth inflection point. Rather than getting caught up in day-to-day operational tasks, Ruby emphasizes the importance of focusing on company strategy through the management framework. 

In this episode of Investors & Operators, Jordan sits down with Kim Smith, Chief Capital Formation Officer at Andalusian Credit Partners, to discuss her new role and dive deeper into her personal story. Together, they discuss:
Her Dad’s JourneyKim’s Personal Health ScareInvesting Time with Veterans
...and so much more.
Top Takeaways
Time is more valuable than money. Kim and Jordan stress that time holds greater value than money. While financial assistance is great, the time spent with veterans, providing support, guidance, and mentorship, is often more meaningful and impactful. They highlight that being there for veterans as mentors and coaches, listening to their experiences, and fostering personal connection and mentorship is more beneficial than any monetary donation. Advocating the importance of genuine human interaction and support in assisting veterans in their post-military journey. 
The importance of giving back. When looking back on her upbringing, Kim emphasizes how her parents taught her the significance of sharing blessings with others. She explains that giving back includes even the simplest gestures like sharing a smile or extending a helping hand. 

Self-reflection on guiding values. Reflecting on a health scare, Kim sheds light on the importance of prioritizing self-care. She shares how pushing herself too hard, both personally and professionally, nearly led to a health crisis, forcing her to reevaluate her values and priorities. This experience served as a wake-up call, not only prompting her to make a change professionally but also to be more present in her everyday life.  Through this time, she gained a newfound appreciation for life and to never take anything for granted.