Learn how John Noel is Revolutionizing the Insurance Business - Again


In 1985, Mr. John Noel founded Travel Guard in his basement with a 0% market share. Over the next 21 years, John and his team grew the business from pure startup to a 60% U.S. market share and 1,000 global employees.

In 2006, TravelGuard was sold to American International Group for an undisclosed sum.

In 1998, Multi National Underwriters was founded by two entrepreneurs and in 2002 was purchased by the Noel Group in partnership with the original owners. The vision of the company was to provide affordable short term health insurance with a relentless focus on customer service.

The Peace Corps, national universities, as well as U.S. foreign service groups came to rely on MNUI for their health insurance needs, and within five short years the original founders and the Noel Group were able to sell MNUI for 10x its purchase price.

Two great entrepreneurial success stories.

And The Noel Group is About to Do It Again

The insurance industry, long sleepy, is undergoing a disruptive technological transformation driven by the Software - as - a Service (SaaS) revolution, by hyper-informed and demanding customers, and by extreme margin challenges caused by poor investment asset performance.

For better or for worse, the days of the mom-and-pop insurance agency, like the mom-and-pop travel agency, are fast coming to an end.

And for those that manage the consolidation wave about to sweep the industry, the rewards can be immense.

Best regards, and look forward to your attendance and feedback.

Jay Turo
Growthink, Inc


Obamafunding Will You Get Your Share?


On Monday, President Obama signed the Small Business Jobs Bill. The bill provides $42 billion in loan incentives and tax cuts for entrepreneurs and small businesses.Obamafunding

Specifically, the Bill does a few important things:

1. The Bill increases the government guarantee on the SBA’s 7(a) loans to 90% through December 31.

Some explanation for some of you who are new to raising funding:

The SBA is the United States Small Business Administration. The SBA doesn’t lend money to entrepreneurs. Rather, local banks give out the loans, but the SBA guarantees a certain percentage of the loan amounts (so if the entrepreneur defaults on the loan, the SBA pays the bank 80% to 85% of the loan amount). With the new program, the guarantee is being raised to 90% which makes lending less risky to the banks.

The SBA’s 7(a) Loan Program is its primary program “to help start-up and existing small businesses obtain financing when they might not be eligible for business loans through normal lending channels.”

2. The Bill includes a new $30 billion lending fund that community banks can use to make loans to entrepreneurs and small businesses.

3. The Bill includes $12 billion in tax breaks for small businesses.

Overall, this is great news to entrepreneurs and small businesses who gain 1) more access to funding, 2) better funding terms, and 3) tax breaks.

This is also positive news for the US economy, as entrepreneurs and small business owners have historically created the majority of jobs and job growth in our country.

(Note: Want to tap into this new funding from the Small Business Jobs Bill? Growthink’s Step by Step Guide to Raising Capital From Banks and SBA Lenders will teach you how to quickly and easily get the right SBA and/or bank loan to fund your business.)


Meet Mr. Greg Rorke – CEO of America’s Next Great Technology Company


Some people talk about building disruptive technology companies – companies that are “cloud” – based, high revenue growth, and profitable.

Many more complain about how BAD their company’s customer relationship systems (CRM) are – bulky, unintuitive, not in line with how work actually gets done in a modern company. 

But there is one man who is actually doing something about it.

And in the process, he is building America’s next great technology company.

Meet Navagate CEO Mr. Greg Rorke

Greg Rorke’s resume speaks for itself. Former CEO of Kaplan Education Centers.  President of Danskin.   Harvard MBA. 
Instrumental in the development of ACT! – the #1 suite of contact and customer management software in the world, with over 2.8 million users. 

And now CEO of Navagate – a next generation cloud computing company customer that is disrupting “business as usual” in the CRM space.

Greg has graciously agreed to share with us his experiences and perspectives on, among other topics: 

  • Why CRM as done by the Salesforces and the Siebels of the world simply does not work and what to do about it.
  • How a small, fast-growing technology company in an industry dominated by giants overcomes the famed “Innovator’s Dilemma” and makes money doing so.
  • How to finance a tech. business via an “Early Exit” strategy, including how to creatively access the public markets via a merger into a public shell
  • And much, much more!

Jay Turo
Growthink, Inc

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Why My Roommate Called Me a Cheater


In my freshman year in college I took a very challenging Calculus class.

It turned out that my roommate was also in the class. Both of us had a hard time keeping up. And we were both nervous as the final exam approached.

We both studied hard for the exam.

And the results: He got a C+ on the exam. I got an A.

I don't think I was naturally any smarter than he was. And we both spent about the same amount of time studying for the exam.

So, why did I do much better?

Well, the one thing I did that he didn't was that I used Schaum's Outlines.  Schaum's Outlines, which I had come across in high school, are study guides that complement what you learn in class and in textbooks. Importantly, each guide include hundreds of sample problems along with the answers.

And so, while my roommate was only studying from the course textbook, I also used Schaum's Outlines to review nearly every conceivable type of Calculus question that I could be asked, and how to answer it.

Interestingly, when my roommate saw me using the Schaum's book, he questioned it. He didn't think it was fair for me to use it because the teacher never specifically told us about it. I remember him even saying that it was like cheating.

Well, clearly using supplemental materials to improve your performance is not cheating (unless those "supplemental materials" are performance-enhancing drugs to become a better athlete). Rather, I consider it being proactive and creative in order to achieve your objectives.

The same principle holds true in business. For example, would you ever try to do pay-per-click advertising without first learning how to do it right? If not, you'd probably lose your shirt.

Or would you ever put a full page ad in a magazine without either using an advertising agency with great expertise and/or spending time learning about how to create effective ads?

That's why I started creating information products at Growthink a couple years back. My thinking was like this: why would someone ever want to go into a meeting with a venture capitalist without knowing the questions they would be asked? That's suicide. So that's why I created a program for raising venture capital. Or why would someone want to create a business plan from scratch, particularly if they weren't 100% sure regarding what should be included in their business plan? And that's why I created a simple business plan template.

The key point is that you must seek out knowledge from the best possible sources to succeed in business. In fact, later today I will be driving to Maryland to attend a meeting with some of the top internet marketers in the world. I will spend a lot of money and time to attend the meeting, but it will pay for itself over and over again as I use the knowledge to increase revenues and profits.

Think about what skills would help you accomplish your goals. And then go out and find the best resources to gain them.


Note to Gordon Gekko: 1985 is Gone For Good


Gordon Gekko may have a new movie coming out, but the days of the jolly old stock market he once knew are gone forever.

I guess I shouldn’t be surprised as to how little known the horrific U.S. public stock market performance over the past 11 years has been.

But I was shocked by the number of people who expressed incredulity regarding the note in my column last week that all major U.S. market indices (Dow, S and P, NASDAQ) are trading lower today than they were in September 1999.

And many of them asked – does it portend a “Japan” situation for the U.S. - where we could be facing ANOTHER 11 years of similar return performance?

And if so, what to do about it?

First of all, the long-term woes of the stock market have been under-reported because there really isn’t anyone that has a vested interest in pointing it out.

Certainly not the financial services establishment. The whole mutual fund / brokerage firm/ insurance company ecosystem would much prefer the public see 20th and not 21st century stock market return statistics.

Certainly not the financial media, which has figured out that it is just a lot more fun to focus on the daily ups and downs of the market and personalities, than the more stuffy and far more ratings-unfriendly focus on return metrics.

And then there is the government. With 90 million Americans with money in the stock market, there is zero political hay in noting that 99.9% of these investors (i.e. voters) haven’t made a cent in the markets in a long, long time.

So that begs our next question – will we all be sitting here in 2021 with the Dow in the 10-11,000 range and the NASDAQ in the 2,000 – 2,500 range. Remember, the Japanese stock market is trading much lower today than it was in 1988 – 22 years ago.

The answer, of course, is that nobody really knows. Or more to the point, everyone certainly hopes this won’t be the case.

There is a factor, however, that is almost certain to continue in the next 11 years. And that is that the stock market will continue to be increasingly dominated by traders versus “buy and hold” investors.

Traders. Computer algorithm – based investor, where the short term is measured not in months but in hours and seconds.

Obviously, the smaller, individual investor can’t win this game.

And for what it is worth, given that most of them follow the “20th Century” Warren Buffet / John Templeton / Peter Lynch buy and hold approach via mutual fund holdings, very few of them even play it.

So what is the individual investor to do? Three ideas:

1.    If You Can’t Beat Them, Join Them. Give up the buy and hold mutual fund ghost, especially if it involves paying management fees, and if you insist on investing in public equity, then attempt to do so via more trading – driven investment strategies. Obviously, very, very difficult, but not less difficult than seeing your retirement nest egg not grow for another 11 years.

2.    Invest Internationally. Global stock market performance has significantly out-paced the U.S. markets over the past 11 years, and the long-term GNP growth trends are very favorable for the China’s and the India’s of the world. These growth trends should continue to drive their stock markets higher.

3.    Invest in U.S. Startups. U.S. startup companies are still by far the greatest source of innovation in the world today. And from all that innovation, a lot of money is made.

And even better, the same technological trends that have made public market investing so difficult in the last 10 years have made startup (i.e. angel) investing easier. The angel market is characterized today by a far greater liquidity, transparency and portfolio approach alternatives than ever.

And it is a relatively small and fragmented market – less than $50 billion in total angel and VC investment spread over thousands of companies as compared to Apple’s market capitalization of $200 billion+, angel investing.

This small size and fragmentation make it mostly inaccessible to the global hedge fund, Wall Street speculator-types that have made it so hard for individuals to make money in the stock markets.

Whatever you do, don’t just bury your head in the sand.

And don’t be like Gordon Gekko and think it will ever be 1985 again.

Looking for Opportunities Now?

Each year, Growthink reviews hundreds of startup and emerging company investing opportunities and selects those with the best management teams, market opportunities, and financial prospects.

To learn more about opportunities we are following now, click here.

To your success,

Jay Turo

Jay Turo


Avoid Failing as an Entrepreneur by Avoiding Shiny Objects


Over the past several months, I've been helping an entrepreneur take his vision for a new consumer product to market.

During this time, he has made great strides; he now has product samples, a manufacturer lined up, his packaging designed and printed, etc.

The one thing he's lacking is proper funding.

So, he recently started looking for investors.

And so far, he's had one investor meeting and has scheduled one more for the coming days. The meeting he had was good. The investor showed interest. But wasn't quite ready to invest; he wants to see a bit more progress made.

And then I received an email from the entrepreneur that's all too familiar...

It went something like this:

Dave, I read about this guy who put up this website and made a ton of money. I think I can do the same thing. So what do you think of me doing that, making money, and using that money to fund my other venture?

To this, I replied, "I HATE IT!!!"

The issue, I told him, is that the new website idea is a completely different business from what he's doing. Could it work? Sure. But it would require ALL of his time and energy. And the odds were not in his favor of making it work. And then if it didn't work, he'd be sitting on two half-baked companies, neither of which had any real value.

Which led me to think of one of my favorite quotes from Thomas Edison -- "Many of life's failures are people who did not realize how close they were to success when they gave up."

This entrepreneur is really close to making his consumer product company a success. Sure he has a lot of work left to do, but he's already made tons of progress.

Like many other entrepreneurs, he's getting distracted by "shiny objects" - those cool things or ideas that catch your attention and get you off track. In my early days as an entrepreneur, I got distracted sometimes too. It's hard when you come across a new opportunity or idea that you think is great. You want to jump on it right away. But, in virtually every case, you need to stick with your current venture or project and see it to fruition. If not, you end up with a string of half-started companies that have no value.

Success in entrepreneurship requires dedication and hard work. And on the funding side, in most cases it's simply a numbers game. No matter how good your company or idea is, you can't expect to only meet with one or two investors and get funding. You need to increase your prospective investor pool, because if you speak to enough investors (and you present to them the right way), you WILL find investors.

And finally, to inspire you and to show you that one of the greatest entrepreneurs in history was also a strong proponent of hard work, focus and dedication, below are some more great quotes from Thomas Edison:

"Everything comes to him who hustles while he waits."

"Genius is one percent inspiration and ninety-nine percent perspiration."

"I have not failed. I've just found 10,000 ways that won't work."

"I never did anything by accident, nor did any of my inventions come by accident; they came by work."

"I start where the last man left off."


Review of YoungEntrepreneur.com's "Blog Money Bootcamp" Course


I'm always on the lookout for know-how that will help entrepreneurs like you grow more successful businesses.

So, the other day, when I received an email from my friend Adam Toren about his new program, I took a look (Adam runs the popular entrepreneurship website YoungEntrepreneur.com).  Specifically, Adam wrote to tell me that they just released a brand new blogging course called Blog Money Bootcamp.


An Investor's Time = An Investor's Money


I have a brief experiment I'd like to try out on you.

Please stand up, close your eyes, spin around twice, and then sit down.

Are you done?

Ok, how do you feel?

Actually, I'm not overly concerned with how you feel after doing the exercise, since that wasn't my point.

My point is this: the vast majority of you did NOT stand up, close your eyes, spin around twice, and then sit down. Maybe you visualized yourself doing it, but you didn't actually follow my directions.

Now, imagine you were reading a really good book. And within the first four chapters, the author gave you tons of valuable advice. And each time you followed it, you saw immediate benefits.

And then, at the beginning of chapter five, the author asked you to do the same thing - stand up, close your eyes, spin around twice, and then sit down.

In this scenario, there is a good chance you would have done it.

And finally, imagine you were in a face-to-face meeting with me and I made this request of you. In virtually every case, you would have stood up, closed your eyes, spun around twice, and then sat down.

OK, here's my point. The result of this experiment parallels the results you will get when developing a business plan and raising capital.

Let me explain...

The experimental request that I made at the very beginning of this post was like my Executive Summary, the first and most important page of your business plan. The idea of the author making the request in chapter 5, after he really has your attention and has built credibility, is like including the request in your business plan. And the idea of me making the request of you in a face-to-face setting is like an investor meeting.

Now here's the key: you can't expect the reader of your Executive Summary to jump through hoops. Nor can you expect them to take significant action. Because they won't. Rather, your goal is to convince them to take the next step which should be to read the full business plan or take a meeting with you.

Now, once your audience starts reading your full business plan things change a little. Before getting to your full plan, they have read the Executive Summary and become interested in your business (if they weren't interested, they would have stopped reading). So, in your business plan you have a little more latitude, and can get the reader to take a little more action and do what you request them to do. 

And finally, in your meetings with investors, you have a ton of latitude. Because they are in your presence, you can be more forceful in getting them to truly understand the power of your business. You can get them to answer questions. You can get them to demo your product or service. Etc.

The most precious resource for most of us, and particularly investors, is time. As an entrepreneur seeking funding, you must figure out how to get as much time from the investor as possible.

The key to achieving this is to present a compelling Executive Summary that they can quickly read, and gets them excited/compels them to take the next step, which is most likely to read your business plan.

And your goal with the business plan is to compel them to take the next step, which is to spend an hour or more meeting face-to-face with you. For any investor, this is a real commitment of time. And there's no way they're investing their money without first investing their time.

Time is money. I know that getting investors to meet with you by itself doesn't put money in your bank account. But the more investor meetings you get, the much more likely you are to raise the money you need.


That's Never Going to Work


Light BulbIn 1880, Thomas Edison introduced his light bulb as a way to light office buildings.

One hundred years later, in 1980, Ted Turner launched CNN.

Both entrepreneurs launched to the same sound, specifically critics saying "it's never going to work."

Critics told Edison that offices didn't need light bulbs and switches, and that they were fine with lamps and candles.

And to Turner critics said "who would possibly watch or need news 24 hours a day?"

Yet, both entrepreneurs achieved extreme levels of success.

So, how can you overcome all the naysayers? All the folks who are telling you that your idea or company is never going to work?

Here are my favorite ways:

1) Show how you fit in. Show how your solution "fits" into the days and lives of the customers you are serving. YouTube, for example, could have said that its customers are already spending a lot of time online, making video consumption online more accessible/convenient for them.

2) Leverage the success of other companies. By saying "we are like [insert well-known company] but we're different because [insert why you are different]," you leverage already established credibility. This makes it hard for naysayers to deny your potential.

3) Simply cite other success stories like Edison and Turner and how their naysayers were proved wrong. Explain how it's easy to see how naysayers were critical at the time, but looking back, those innovations clearly made a lot of sense. Ask the naysayer to pretend they are in the future looking back, and to view your company from that perspective.

4) Plan out your venture. Your ability to complete your business plan and show others a clear, comprehensive growth roadmap will squash many of their doubts. It's much easier to poke holes in a concept. But when that concept has been converted into a plan, it gains massive credibility.

5) Gain social proof. Once you have a lot of people who believe in your vision, it's easier to get more people to believe. By getting advisors, beta customers, contingent employees, etc., or even just fans on your Facebook page, you create social proof. You can show that others already believe in your vision. Few people want to be the first to like or support something since they risk failure and looking foolish. It's always much easier for naysayers to support a cause that they see lots of others supporting.

Everyone loves to look back and say that they supported and/or knew about a now-successful company in its infancy. But the reality is that during the early days, there are much fewer supporters. So use the five techniques above to turn naysayers into supporters, and grow a successful business.


Referrals & Marketing Techniques to Find Investors


1A study by New York University's Management Institute asked the following question to sales and marketing professionals, "What is the best technique to find new customers?"

A 1-5 scale was used, where 1 equaled "not important" and 5 equaled "very important."

The results were as follows:

Marketing Technique............Average Score

Referrals.............. 4.8
One-to-One Marketing.............. 4.5
Direct Mail.............. 3.8
Trade Shows.............. 3.2
Cold Calls.............. 1.5

It makes a lot of sense why "referrals" is the winning technique. Clearly, if someone you know and trust vouches for a product or service, you will be most likely to give it a try yourself.

Interestingly, "referrals" is also a top way to find new investors. For example, having a consultant or lawyer introduce you to an angel investor or venture capitalist is a great way to get in the door to present your opportunity.

However, many entrepreneurs feel they don't have connections that can refer them to investors. But, when you think about it, it's fairly easy to gain these connections. Gaining these connections can be as simple as meeting the right people at an event, meeting them online on a site like LinkedIn or Facebook, or even just sending them an email or giving them a call.

The other marketing techniques, such as Direct Mail, are also extremely applicable when seeking investors. While I don't recommend physical mail, direct e-mail is highly effective. Like it is with traditional direct mail, the key is creating a great list; mainly to create a list of investors that have an interest in your type of venture. For example, if you need funding for a restaurant, clearly you shouldn't be contacting an investor who focuses on medical devices.

In summary, whether you are marketing your product to consumers, or your company to investors, the processes are fairly similar. You have to understand who your target market is, figure out the best way to contact them, and then deliver a compelling message that gets them to take the actions you want.

Suggested Resources:

Venture Capital Pitch Formula shows you how to get referrals and numerous other ways to contact venture capitalists, how to create and deliver a compelling presentation to them, and how to close the deal and get your funding.  Watch the Venture Capital Pitch Formula video here to learn more.

The Ultimate Marketing Plan Template allows you to leverage all the top marketing techniques to quickly and easily find new customers, compel them to purchase your products and services, and exponentially grow your revenues. Watch this video to learn more.

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