When Alex Foulkes reflects on his entrepreneurial journey, he’s the first to admit it wasn’t a conventional path. From his early days as a professional poker player to becoming a restaurateur and eventually founding CoLabs, a company specializing in business consulting and fractional operations for small businesses, Alex’s story is one of seizing opportunities, embracing risks, and learning to navigate the often unpredictable world of entrepreneurship.

A Risk-Taker at Heart

Alex’s entrepreneurial spirit was sparked long before he ever owned a business. After college, he found himself drawn to poker, inspired by his older brother, a professional player. “I was making a decent side income playing poker online,” Alex recalls. “But then the Department of Justice shut down online poker in the U.S., and suddenly, I had to decide between joining the real workforce or spending my life in a casino. The latter wasn’t an option for me.”

Faced with this unexpected turn, Alex pivoted. He found himself gravitating towards the restaurant industry, initially taking on roles that allowed him to manage operations and interact with people—two things he found he was naturally good at. “I realized early on that I’m not cut out for mundane jobs. I need excitement, and the restaurant industry offered that.”

Building a Business Empire from Scratch

Alex’s foray into business ownership came quickly. After working as a restaurant manager for just a year and a half, an opportunity arose to buy the restaurant, Penny Lane Pub, where he was working. It was a bold move for someone with limited experience, but Alex wasn’t deterred. “The owner was getting older and wanted out, so he offered the business to me and the head chef,” Alex explains. “At that point, I had some experience under my belt, but I didn’t have much money. Still, I knew this was an opportunity I couldn’t pass up.”

Through sheer determination and a bit of luck, Alex and his partner were able to secure the financing needed to buy the business. “We knocked on doors, pitched to banks, and put together a business plan. It was stressful, but we made it happen,” he says. This acquisition marked the beginning of what Alex refers to as his “small business empire” in Connecticut.

But as the restaurant thrived, Alex began to feel restless. “The restaurant was running like a machine. It didn’t need me anymore, and that’s when I realized I thrive on building things, not just maintaining them,” he says. This realization led him to sell his interest in the restaurant and focus entirely on his next venture—CoLabs.

The Birth of CoLabs

CoLabs wasn’t Alex’s first venture outside the restaurant industry, but it quickly became his most significant. The idea for CoLabs came about almost by chance when Alex was approached by a partner with a problem that needed solving. “We started by helping an electrician who was great at his job but terrible at running the business side of things. We handled his calls, invoicing, and customer communications,” Alex explains. “That’s when we realized there was a market for fractional operations and business consulting, especially in blue-collar industries.”

CoLabs was born out of this need to support small businesses that were struggling with the operational side of things, even as they excelled in their respective trades. “We became problem solvers,” Alex says. “Our job was to make their lives easier by taking over the tasks they didn’t have time for or didn’t want to do. From answering phones to sending invoices, we made it our mission to help them scale their businesses.”

Lessons Learned Along the Way

Like any entrepreneur, Alex has faced his share of challenges. One of the most significant lessons he’s learned is the importance of being adaptable. “In the beginning, we didn’t have everything figured out. We took on clients that weren’t the best fit because we needed the revenue and experience. But as we grew, we started to understand the kind of clients we wanted to work with and which ones we didn’t,” Alex says.

Another key lesson was the importance of solving real problems for clients. “We once doubled a client’s business, and I thought that would be enough to keep them happy. But we dropped the ball on something as simple as answering phone calls, and that almost cost us the client,” he admits. “It was a humbling experience that taught me just how crucial it is to understand what your clients value most.”

Scaling the Business

Today, CoLabs works with a variety of small businesses, from electricians to nutrition companies, offering tailored solutions that range from operations management to business coaching. But as the company continues to grow, Alex faces a new challenge—scaling CoLabs beyond himself and his partner, Hayden. “We’re at a point where we need to prove that the business can operate without us,” Alex says. “That’s the difference between owning a job and owning a business that can eventually be sold.”

For Alex, the goal is clear: to build CoLabs into a scalable business that operates independently of its founders. “The challenge is systemizing everything to the point where Hayden and I are no longer essential to the day-to-day operations. It’s about creating something that can outlive us, something that can continue to grow even if we’re not around.”

Advice for Aspiring Entrepreneurs

When asked what advice he would give to other entrepreneurs, Alex is quick to emphasize the importance of perseverance and adaptability. “Starting a business is messy, and you’re going to make mistakes. The key is to keep moving forward, learn from those mistakes, and adapt your strategy as you go,” he says.

He also stresses the importance of simplifying business operations, especially as they scale. “Business is simple at its core, but it becomes challenging when you try to scale it. It’s easy to handle one customer, but when you have 100 or 1,000, you need systems in place to maintain the same level of service.”

Finally, Alex encourages new entrepreneurs not to be afraid of starting small and making mistakes along the way. “You don’t have to have everything figured out when you start. Just get moving, learn as you go, and don’t be afraid to pivot if something isn’t working. The most important thing is to keep going.”

Looking Ahead

As Alex looks to the future, his focus is on scaling CoLabs and creating a business that can thrive without him at the helm. But beyond that, he’s excited about the potential to help other entrepreneurs succeed. “There’s nothing more satisfying than seeing a business we’ve worked with grow and succeed,” he says. “That’s what drives me—helping other people achieve their dreams while building something that’s bigger than myself.”

For Alex Foulkes, entrepreneurship is about more than just making money; it’s about solving problems, building systems, and ultimately, creating something that has a lasting impact. And if his journey so far is any indication, CoLabs is well on its way to doing just that.