NEXT with TIGER 21 Libby Connolly Alexander: Taking a Family Business from Millions to Billions
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Jun 12, 2024 Libby Connolly Alexander, a Tulane graduate, transformed her father’s startup into a $5 billion global leader in recovery auditing. She shares how the company saved clients over $1.1 billion in just one year, showcasing the power of innovative strategies and teamwork. Libby discusses the challenges of second-generation leadership, the importance of risk management, and the balance between growth and legacy. Her journey reflects on sustainable business practices and the value of humility amidst extraordinary success.
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From Bedroom Startup to Billion-Dollar Giant
- Libby joined her father's startup recovery audit business at 23, which started from the family home.
- They grew it into a $5 billion global leader, pioneering recovery auditing in retail and healthcare.
Recovery Auditing's Hidden Opportunity
- Libby's father recognized errors in retail computer systems created ongoing billing errors.
- Recovery auditing recovered overpayments, creating a win-win value proposition based on split savings.
Be Low Noise, Build Goodwill
- Be "low noise": make your business easy to work with to maintain long-term clients.
- Help clients improve processes to build goodwill and sustain ongoing opportunities.