Second in Command: The Chief Behind the Chief Episode 442 - Spencer Matthews, COO of Stemregen Release Date: January 21, 2025

In Episode 442 of the Second in Command podcast, host Cameron Herold engages in a comprehensive discussion with Spencer Matthews, the Chief Operating Officer (COO) of Stemregen. Drawing from his extensive experience in operations and leadership, Spencer delves into the intricacies of his role, the unique positioning of Stemregen in the biohacking industry, and the dynamics of managing a fully remote executive team. This detailed summary captures the essence of their conversation, highlighting key insights, strategies, and personal reflections shared by Spencer.

1. Introduction to Spencer Matthews and Stemregen

Cameron Herold introduces Spencer Matthews as the COO of Stemregen, emphasizing his impressive track record in scaling businesses. Spencer brings 13 years of industry experience to Stemregen, guiding the team towards ambitious growth goals. Notably, he has been instrumental in scaling a company from $0 to $50 million in Annual Recurring Revenue (ARR), culminating in a $200 million exit.

[01:49] Cameron Herold: "Spencer is an Idaho native where he resides with his wife and four kids, spends a lot of time with his family in the outdoors and in Sports."

2. Understanding Stemregen and Its Differentiation

Spencer provides an insightful overview of Stemregen, clarifying its mission and how it stands apart from traditional stem cell therapies.

[05:04] Spencer Matthews: "Stem regen in a nutshell is Christian's life's work of stem cell research. ... Stem regen is all about helping boost your natural repair system and helping the release of stem cells from your bones to your Blood, so they can then go and migrate and repair where they need to."

Stemregen offers an oral supplement that triggers the body’s own stem cell release from bone marrow, enhancing natural repair processes. This contrasts with typical stem cell therapy clinics that rely on injections sourced either from the patient's own cells or external donors.

3. Target Demographic and Client Base

The discussion shifts to Stemregen’s target audience, which primarily includes health-conscious high achievers, encompassing biohackers, athletes, individuals over 50 concerned with age-related diseases, and those recovering from injuries.

[06:49] Spencer Matthews: "Our umbrella target audience is the health conscious high achievers. ... Either currently struggling with age related diseases or, you know, overcoming, you know, acute or long term injuries and then just preventative, you know, caring about their longevity."

This demographic segmentation ensures that Stemregen’s offerings are tailored to individuals keen on proactive health management and longevity.

4. Spencer Matthews’ Role and Transition to Stemregen

Cameron inquires about Spencer’s journey to joining Stemregen, highlighting the collaborative effort with his business partners.

[08:37] Spencer Matthews: "We came into Stemregen June, July of 2023. ... We formed our own advisory firm and then have looked to identify high integrity founders that have high quality science backed that truly do what they say right."

Spencer, along with his two partners from Fifth Hammer, transitioned from advisory roles to full-time positions at Stemregen, leveraging their collective expertise to scale the company effectively.

5. Defining Executive Roles: COO vs. Chief of Staff vs. Director of Operations

A significant portion of the conversation revolves around differentiating key executive roles within an organization.

[13:14] Spencer Matthews: "When I was Chief of staff, we actually had a COO as well. ... COO really, truly owning core functions of the business."

Spencer elucidates that while a Chief of Staff often serves as an advisor and a bridge across departments, a COO holds ownership over core business functions such as finance and supply chain. In contrast, a Director of Operations tends to focus more on day-to-day tactical tasks without the broader strategic oversight characteristic of a COO.

6. Synchronizing the Executive Team in a Remote Environment

Managing a fully remote executive team presents unique challenges and opportunities. Spencer shares strategies employed at Stemregen to maintain synchronization and effective communication.

[20:46] Spencer Matthews: "We do monthly board meetings, we do weekly executive syncs, which is just, you know, us five. And then we do team weekly standups, and then we do department right stuff and one on ones and all that."

To mitigate the challenges of remote management, Stemregen implements a robust meeting cadence that includes:

• Annual Retreats: Facilitating in-person bonding and strategic planning.
• Monthly Board Meetings: Ensuring alignment with stakeholders.
• Weekly Executive Syncs: Keeping the core leadership team informed and coordinated.
• Team Standups and Department Meetings: Maintaining operational transparency and accountability.

7. Implementing Effective Systems and Tools

Spencer emphasizes the importance of cadence cycles and the integration of systems from his previous ventures to streamline operations at Stemregen.

[28:04] Spencer Matthews: "The cadence I think is understated and underappreciated and never done. ... marriage of operations finance and marketing is way underrated."

By adopting and customizing cadence cycles, Stemregen ensures that meetings and operations remain dynamic and responsive to the company's evolving needs. Additionally, integrating operations with finance and marketing helps break down silos, fostering a more cohesive and efficient organizational structure.

8. Collaborating with Fractional Finance Experts

Working with fractional finance professionals introduces both benefits and challenges. Spencer discusses the critical considerations for effectively partnering with these experts.

[30:12] Spencer Matthews: "Yes, it's a challenge. ... deeper vetting of do they truly have the experience that you need?"

Key takeaways include:

• Rigorous Vetting: Ensuring that fractional finance experts have specific experience relevant to Stemregen’s operations.
• Clear Expectations: Defining roles and deliverables to prevent misalignment and oversight issues.
• Continuous Monitoring: Regularly assessing performance to maintain financial integrity and accountability.

9. Leadership Development and the Colby Index

Spencer highlights the use of the Colby Index Assessment to foster effective teamwork and leadership within Stemregen.

[34:48] Spencer Matthews: "We use Colby a lot. ... they have the strengths."

The Colby Index helps in understanding individual strengths and working styles, enabling better collaboration and communication among team members. This tool is particularly valuable in a remote setting, where clear communication is paramount.

10. Personal Insights: The Art of Delegation

In a reflective segment, Spencer shares advice he would give to his younger self, emphasizing the importance of delegation.

[39:24] Spencer Matthews: "I would say, hey, learn how to delegate earlier because you would save yourself a lot of heartache earlier in the career for sure."

Cameron echoes this sentiment, discussing how effective delegation is crucial for scaling operations and developing a strong leadership team.

Notable Quotes

• Spencer Matthews [05:04]: "Stem regen is all about helping boost your natural repair system and helping the release of stem cells from your bones to your Blood."
• Cameron Herold [11:12]: "It's to turn them into the Howard Schultz and the Ray Kroc and the Roy Disneys. It's to turn them into an iconic brand."
• Spencer Matthews [18:16]: "I believe that all success starts with clear expectations and that the role of, of a title and a job descript is an expectation setting."
• Cameron Herold [26:34]: "Jim Collins in the book Good to Great mentioned that we have to repeat what we're saying so often to our people so that the ideas have started to stick."
• Spencer Matthews [39:24]: "Learn how to delegate earlier because you would save yourself a lot of heartache early in the career for sure."

Conclusion

Episode 442 offers a deep dive into the operational strategies and leadership philosophies of Spencer Matthews as COO of Stemregen. From defining executive roles and managing remote teams to implementing effective systems and fostering leadership development, Spencer shares valuable insights that can benefit aspiring COOs and seasoned executives alike. His emphasis on clear expectations, effective delegation, and strategic collaboration underscores the critical components of successful operational leadership.

For more insights and best practices from top COOs, visit COOAlliance.com.