Libby Connolly Alexander: Taking a Family Business from Millions to Billions
Libby Connolly Alexander: Taking a Family Business from Millions to Billions
Libby Connolly Alexander: Taking a Family Business from Millions to Billions
Join host Michael Sonnenfeldt exploring the remarkable journey of Libby Connolly Alexander. In 1984, Tulane graduate Libby joined her father's startup. This small family venture evolved into a global giant and leader in recovery auditing for healthcare, retail, and more major industries.
How it began: Libby's father James Connolly, a former senior executive at Gimbels, recognized an untapped opportunity to help department stores recover overcharges. He started Connolly from his living room in 1979. Over the years, alongside her brother Larry Connolly and husband Robert Alexander, Libby took the reins as CEO, transforming Connolly, Inc. from $5 million to $5 billion during her tenure. It became a leader in recovery auditing. For example, Connolly, Inc. saved clients $1.1 billion in 2018-2019 alone.
Key Themes:
-Sustaining 20% annual growth for over 20 years (Warren Buffett-like returns)
-Family business: Second-generation success
-Insights on entrepreneurial risk, growth, and legacy
Libby's story underscores the power of humility and teamwork, offering valuable lessons for entrepreneurs. Tune in to hear how she built an industry-dominating company and the unique skills required to sustain such extraordinary success.
Watch clips:
How Connolly Achieved Warren Buffett-Like Returns With No Debt
A Real Life MBA from My Father
Valued $11 billion: Why we sold Connolly (Cotiviti)
Topics:
(0:00) Introduction: Connolly and recovery auditing
(6:38) Libby's father's career transition
(10:45) Evolution of retail from Gimbels era
(15:08) Building a sustainable business model (value proposition)
(21:00) Libby joins Connolly (1984)
(22:30) Low noise
(25:00) Giving up a million dollars
(27:21) Libby and Larry take the reins
(29:57) Second generation family business
(31:57) Culture
(34:22) PC revolution and competitive edge
(39:21) Healthcare
(46:15) Selling to Advent
(50:41) Reflections and legacy
About:
TIGER 21 is the premier peer membership organization for ultra successful entrepreneurs, investors, and executives.
Tip Jar:
Practice self care.
Links:
Michael Sonnenfeldt - LinkedIn | @mwsonnenfeldt
linkedin.com/in/libbyconnollyalexander
Book: “Figuring It Out”
Follow & Connect:
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Hosted on Acast. See acast.com/privacy for more information.
From The Podcast
NEXT with TIGER 21
Welcome to NEXT with TIGER 21, a podcast where paths to extraordinary success are highlighted by those who have travelled them, along with the direction where they are headed next.Join host Michael Sonnenfeldt to explore the unique personal and professional journeys of some of the world's most accomplished entrepreneurs and wealth creators. Each episode features a Member of TIGER 21’s exclusive peer network community, which comprises ultra- high-net-worth individuals around the world who have made their mark. They are eager to share the wisdom they have gained along the way.In addition to recounting the pivotal moments that propelled them forward, they look beyond past achievements – and failures – to discuss their visions for the future, what they see coming in the realms of innovation and enterprise, and what defines their next level of success.Tune in to gain access to the life lessons and forward-thinking ideas that can only come from those who have reached the highest pinnacles of achievement.Watch video clips and learn more: tiger21.com/podcastTIGER 21: tiger21.comDisclaimer: TIGER 21, and its affiliates, (including hosts and guests of the podcast) may hold assets discussed in this episode. This podcast is not intended as investment advice, and is for informational and entertainment purposes only to be used at your own risk. TIGER 21 and its affiliates do not promise or guarantee your financial success, nor warrant claims made by any podcasts guests or hosts. You are responsible for conducting your own research and making your own independent decisions when considering any financial transactions. Hosted on Acast. See acast.com/privacy for more information.Join Podchaser to...
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