The Capital Stack

James McManus of Family First on Emerging Mental Health Crisis in Teens, Managing Risk, and Scaling a 155-Employee Treatment Center.

Aug 22, 2023

James McManus, visionary behind Family First, discusses the journey of scaling a treatment center for teens facing mental health and substance abuse disorders. Topics include bootstrapping a business, building a strong network, overcoming challenges, luck and hard work, recapitalization, scaling a non-tech company, resource perspectives, a book recommendation, and hindrances to productivity in adolescent treatment.

35:46

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Episode guests

James McManus

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Quick takeaways

Family First provides specialized care for teenagers facing behavioral health and substance abuse disorders, recognizing the need for a personalized approach tailored to adolescents' unique needs.

Entrepreneurs in the mental and behavioral health field should understand every role within their company, be pragmatic in revenue mix, and navigate regulatory constraints.

Deep dives

The Founder's Inspiration: Filling a Gap in Adolescent Mental Health Treatment

James McManus, founder and CEO of Family First, discusses how his personal struggles as a teenager with mental health and substance use inspired him to start an adolescent treatment center. Recognizing the lack of specialized care for teenagers, McManus saw an opportunity to provide intensive outpatient treatment that was specifically tailored to the needs of adolescents.

Introduction

4min

Building a Business and Overcoming Challenges

19min

The Relationship Between Hard Work and Luck

2min

Recapitalization and the Challenges of Scaling a Non-Tech Company

6min

Perspectives on Resources, a Favorite Book Recommendation, and the Hardships in Shogun

2min

Exploring Productivity and Adolescent Treatment in the Mental Health Crisis

3min

I am excited for this week's special episode on the Capital Stack Podcast, where I will be interviewing my dear friend James McManus, the visionary behind Family First. Family First is a renowned treatment center in Florida, dedicated to helping teenagers facing behavioral health and substance abuse disorders. James' remarkable leadership has led to substantial growth, as evidenced by the recent majority recap with the esteemed HEP Fund and NaviMed Capital. Join us as we delve into James' inspiring journey and explore the impactful work of Family First.

How does an entrepreneur bootstrap a mental and behavioral health business and drive it to success? The entrepreneurship journey, especially in a less common industry, is about taking the initiative and networking to find opportunities to help grow the business.

In this episode of The Capital Stack, we have James McManus, the founder and CEO of Family First Adolescent Services. He has devoted his career to understanding and treating the unique circumstances of young people grappling with drug and alcohol addiction, mood disorders, and post-traumatic stress disorder.

Listen in to learn why James pursued the path of adolescent mental and behavioral health and addiction and established an intensive outpatient service for families. You will also learn the importance of understanding how to do every job in your company as an entrepreneur to ensure you can step into any position if anything happens.

What You Will Discover:

· [01:32] James on how his experience with adolescent mental health and working with teens led to Family First.

· [04:17] Why he established an intensive outpatient service for adolescents, plus the market opportunity he saw.

· [08:08] The constantly evolving nature of the adolescent behavioral health industry.

· [13:00] The importance of focusing on revenue and diversifying it while managing risk as a founder.

· [15:20] The importance of having something to stabilize you till you can stand on your feet as a founder.

· [18:38] Why you must take the initiative to increase your bottom line in the early stages of your business.

· [24:45] James explains why he did a recap and the rigorous process it turned out to be.

· [29:44] The importance of understanding every job in your company as an entrepreneur to avoid surprises.

· [31:02] Random questions with James!

Memorable Quote:

· “There’s no one out there that’s going to come and magically be able to increase your bottom line; you have to go and do that if that’s your skillset.”- [20:57]

Connect with James:

· Website: https://familyfirstas.com/

· LinkedIn: https://www.linkedin.com/in/james-mcmanus-77415ba/