075 noah shanok strategic thinking for growing and monetizing your business by EntrepreneursRadioShow

THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

EPISODE #75: NOAH SHANOK In this episode, Travis speaks with the dynamic and successful entrepreneur Noah Shanok. Noah is the co-founder of Stitcher Radio which provides radio programs on-demand whenever and wherever. He is also one of the founders of StubHub which is a trusted online ticket service provider. Travis and Noah talked about how Noah started a successful business from the ground up and tailor it to the needs of your customers which allowed it to grow exponentially. Noah also pointed out the importance of taking risks since being an entrepreneur entails a lot of sacrifice and facing the unknown in order to overcome challenges and obstacles. They also talked about how to face failures and using it as a motivation and a lesson in order to succeed in your next try. These are just some of the things that are discussed in this episode which will prove valuable to all entrepreneurs who want to achieve success in their business as well as taking their business to that next level of success.

Noah Shanok – Strategic thinking for growing and monetizing your business Travis: Hey, it's Travis Lane Jenkins, welcome to episode number 75 of the Entrepreneur's Radio Show, conversations with self-made millionaires and high-level entrepreneurs that will grow your business. This show is a production of Rockstar Entrepreneur Network. Today I'm going to introduce you to a rockstar entrepreneur by the name of Noah Shanok. Now Noah is brilliant for several reasons. Noah is the co-founder of StubHub which he sold in 2007 for a pretty impressive number which he'll share with us in the interview. Also he's the founder of Stitcher Radio. Now in case you don't know, Stitcher is an on-demand radio app that focuses on news, information radio and podcast which basically means that you can download their free app and then stream all of your favorite shows which makes it pretty easy to listen to your shows. You don't have to go back and synchronize with your computer. Now, in the episode since Noah has an impressive record for building an extremely valuable business, we're going to go behind the scenes and talk about his business models, both StubHub, I don't know if you use StubHub or not, I do personally for when I'm buying concert tickets and other stuff like that. And then we're also going to talk about Stitcher because I believe some of the best education you can ever have is to deconstruct successful businesses and business models. Now before we get started I want to remind you that there are two ways that you can take these interviews with you on the go while you're working out, driving, or just doing whatever. First, the simple option is you can go to Stitcher, s-t-i-t-c-h-e-r.com, download their few app and like I explained earlier, allows you to stream all of their shows any time, any place, and it's just an easy way to take things on Copyright © 2012, 2013 The Entrepreneur‟s Radio Show

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THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

the go with you. The secondary choice is you can go to iTunes if you're an iTunes person, if you go to rockstarentrepreneurnetwork.com and click on the iTunes button, it will take you directly to the podcast in iTunes where you can subscribe to the show there. I probably ought to go ahead and set-up a link to Stitcher on our website, in that way it'll take you directly to the show there as well. It's something that I'll have my guys set-up for you. Also, one other thing, be sure and stay with us until the very end if you can because I've got a contest that I want to tell you about where you'll have a chance to win $27,000 in cash and prizes and a Lamborghini. Now that we've got all that stuff out of the way, let's go ahead and get down to business. Welcome to the show Noah. Noah: Thanks for having me Travis. Travis: I am super, super excited to have you with me. Noah: I am very glad to be here with you. Travis: I hope you're equally excited. Noah: I am, I may even be more excited. Travis: Cool. Hey listen, before get into some deep conversation, you've had a pretty impressive history of building some successful businesses. Would you mind giving us kind of the quick back-story of how you've done that? Noah: Sure. After college I knew I wanted to be in business and I asked for some advice, and people told me that I should go into finance. So I took a Wall Street job and I ended up being a fixed income trader and then I wanted some operating experience so I moved from New York to San Francisco. I joined a later stage ticketing company which was sold Ticketmaster and then was introduced to a small group of guys who were starting a company called StubHub. And so I was on the founding team there and helped to build that company. And then I went to business school, I did some management consulting, went back to StubHub and then started Stitcher which is, as you know, an on-demand internet radio company with a lever at. And I started Stitcher, we launched about 6 years ago. Travis: Cool. So was it just good luck, good timing to be on the StubHub thing you think, or was it a mix of skill and timing, all of the above? Noah: Or maybe craziness. As a fixed income trader I learned about markets and how buyers and sellers did different things including options. And then I was in the ticket business long enough that I when I met the StubHub guys and they told me this idea for a secondary market for event ticket, it was an absolute certainty to me that this was a better way that a market place for tickets was a much better way than was at that time, sort of the predominant scalpers on the street outside of venues.

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THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

Travis: Yeah. Noah: So a lot of it was an absolute belief in the opportunity and I believe and the team members. And then a lot of hard work and certainly some luck. Travis: So some albatross there, basically by high so low. And you saw an opportunity because, I'm 47, I'm old enough to remember how difficult it was to get tickets to events. The locations weren't plentiful, wasn't as easy as it is today. And so basically you saw the opportunity. What piece of the puzzle that you bring to this team to help this thing take off and find success? Noah: Well, in the early days I think all of us where kind of „Jack of all trades.‟ I came in as a business development person. First, we had just launched the market but we didn't have any tickets, so I convinced some ticket brokers to work with us and put some tickets and some individuals to put some tickets on StubHub. And then my job was to go out and convince teams to utilize the technology themselves which would help them fill seats and help them sell season tickets. So that was kind of my first job. And then we got some pretty big deals including a deal with Major League Baseball. And then we were a very small team but we needed to execute on it. So then I was more of an operations role for a while and so pouring that hat. And then move back into a business development position. And then I also did some strategy work as well. Everybody, did everything, and I wasn't an engineer so I couldn't write code. That was fine, the only thing I couldn't do. Travis: Right. And that's normal for us to be chief cook and bottle washer, every aspect of the business, right. Noah: That's it. Travis: It sounds like StubHub was based on thin margins, is that pretty thin margin business without getting into the specifics when you buy a ticket and then resell it basically? Noah: StubHub is just an exchange, they're a facilitator of transactions, conflict, and NASDAQ, and uniform, New York Stock Exchange. I've been out of the loop now but the margins of the business were pretty decent, if say a $100 ticket, the seller would get $85 and the buyer would pay a 110. So net to StubHub was $25. Transaction in the early days was complex because you actually had to physically move tickets from one place to the next to make sure that they were real. But that was also a competitive advantage for us. Travis: Right. Well you know what's cool about that is if you don't have the holding cost of the inventory, then you're really just matching seller with buyer and makes an extremely profitable business end, right.

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THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

Noah: Yeah, that's true. It's about balancing and network, in a similar way to Stitcher, actually balancing and network and making sure that we're providing value to all parties on the platform by creating a great product. And then making sure that we're listening to, in the case of StubHub, both the sellers and the buyers to make sure that we're making improvements we need to. Travis: Now, I don't know if this is public or not, if you share this, but I'll ask anyways. Do you share what you sold StubHub for at that time, didn't you sell it in 2007? Noah: Yeah, it is public information. We sold it for $310 million to eBay. Travis: That's not bad. Noah: Yeah. It was great for eBay as well, it was a great partnership. It's an enormous business now, relative. Travis: I bet. Let's transition into Stitcher. So you take a similar business model over, and that's what you use to ramp up the business for Stitcher, is that correct? Noah: Yeah, I mean, I think kind of the original, I sort of had two Aha moments, business-wise in my life. The first was when the StubHub founders told me about the idea and it just clicked in my head, and I knew that this was just a better way. With Stitcher, I was really interested in podcast, I even kind of started one. I hired a comedian but it was just for fun. And I saw that there was all of this great content out there. And I remember being on the phone with my mom one night and trying to explain to her how she could listen to my "radio show", and it was really impossible. And I was an early adopter of music internet radio like Pandora, and I realized that if the internet was truly coming to the mobile device, that people would want to listen to the content that they want to listen to, when they want to listen to it. I was amazed at how many people went all of the trouble to download and sync podcast, and it's because they wanted to listen to what they wanted, when they want it. Everybody has their own interest. So I kind of had this "Aha" moment, I realized that the radio industry would change and based on the internet we could improve the way audio moves from the content producers to the listeners. Travis: Right. Let's go down that path because I think a lot of people really still don't understand it, and let me back up a little bit. So you're explaining to your mom about how she could listen to one of your podcast and she just didn't get how to subscribe or download an episode and listen, right. Is that what you were saying? Noah: Yes, it was a complex process relative to turning on the radio. Travis: And a lot of people still don't understand that. I get people that listen to my show from their laptop and they made and reach out and say, "How do I find it on iTunes?", because their search toolbar is not very easy to use, not friendly, and so it's just not simple. So Stitcher is a model where you Copyright © 2012, 2013 The Entrepreneur‟s Radio Show

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simplified this. So go down that path so that everybody listening can understand. Is it still listen on demand? Noah: Yeah, so it's listen on demand, there's no downloading or syncing, there's basically two things that we want to do really well in this medium. One is make it as easy as possible to listen to whatever you want. We currently offer over 18,000 shows, obviously, including this one. And we want to make it one click to be able to listen to it. We've called the company Stitcher because you could stitch together basically your favorite shows and listen to those shows on demand. The second component which is really important is discovery. So based on a listening behavior and what they listen to, we can recommend other shows that they would likely also like and without effort on their part. Through our smart station and then also through what their friends liked through social media integrations, and then through what's trending. So-Travis: A lot like Amazon, right. Since you bought this or you listen to this, you probably will like this, right? Noah: Yes, a bit like that. So it's based on the same approach but we can create a whole station, and what we found is people listen to sort of a wide swath of content. So we have both a listeners also like, which comes up when a person is listening to a show. And then we have a smart station which is a whole set of recommended shows based on a listeners behavior. And that's led to the popularity of our mobile apps and the platform in general. Travis: And so that's kind of ala Pandora, right. Noah: Yeah, I love Pandora in terms of the personalization. Very similar to their music genome except the algorithm is based on things like keywords, and topics, and completion percentage of the shows that people are listening to. And a whole host of other date event to help us to figure out what listeners will like. Travis: Interesting. So if you don't mind, let's dive into the business model of Stitcher. How do you monetize that? Noah: Yeah, so, similar to Pandora, it is an advertising based model. We believe and are finding, although we're in the early stages of it, that we can deliver a message that resonates a lot better with listeners. We have things in radio, obviously there are no frequency caps, there's nothing interactive, we don't actually know what one's interests are. In our world we know all of that information and so we want to provide messaging to a listener from an advertiser that's friendly and non-invasive, and can also be sort of fun and interactive. There is a subscription component as well, which we are just rolling out, and that's for the folks that don't want to hear the advertising. So it's similar to Pandora in that way as well.

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Travis: Oh, so they pay the subscription and they skip the advertising messages? Noah: That's correct. Travis: Okay. Now, does that conflict, and the reason why I like to break business models apart and understand how they work is I believe a lot of business owners are missing several other metrics of understanding the functionality of different ways of monetizing their business and bringing value to their client. And maybe non-traditional ways of bringing value that can grow their business and bring an element of consistency to that business, right? Does that make sense? Noah: Yes. Travis: So it's basically, you're providing relevant, valuable content, kind of user-generated content to a certain extent, while delivering in conjunction with that ad network, is that right? Noah: So there are some third party ads that we are selling the ads directly. Our content partners also have some ads that they sell directly, and those are in the content itself, and we don't strip those out. So we're growing a direct sales force and what we can provide to advisers is that combined, sort of interactivity that goes along with the two-way internet connection, with some great messaging. Travis: Okay, so that makes sense. So let me ask you, you've got a track record of building successful businesses. What do you feel like, you get a chance to, the majority of people on your network are entrepreneurs themselves right? People that have the shows? Noah: Yeah, it's a range from niche shows that are hobbyists, small business owners, small businesses that are the shows themselves. And then as you all the way up to the CNN's, and Fox's, and NPR‟s probably the world which, you know, and CNN and Fox's case where once small business is but are no longer that small. Travis: Right. So with your level of understanding, and growing, and building successful businesses, and even your interaction with entrepreneurs. What do you feel like some of the key ingredients are to building a consistently predictable and profitable business that you see a lot of entrepreneurs are missing? Do you have any perspective on that? Noah: Yeah. That venture capital backed start-up were always a little bit different. Travis: Hey, Noah, you're cutting out. Noah: …. Travis: Hey Noah, you're cutting out, I'm sorry to interrupt you. All of a sudden our connection has gone to heck. So let me hang up and dial you back real quick, okay. Copyright © 2012, 2013 The Entrepreneur‟s Radio Show

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Noah: That sounds good. Travis: Okay, thanks. Noah: Travis? Travis: Yeah. (Hey, Jerome edit that part out.) Sorry about that Noah, I didn't want to interrupt you and what you're saying is super important so I didn't want to mess up your flow. But we were hearing every other word from you. Now you were going to explain what you feel like most business owners are missing and building a consistently predictable and profitable business. Noah: Yeah. So in terms of the predictable part, I have less experience with that because venturebacked industry-changing businesses which is where my experience is, is a bit less predictable. We take a lot of venture capital money to go very quickly. We make mistakes along the way, and the risks are significantly larger. I will say that for all entrepreneurs and compare notes with lots of entrepreneurs in all different types of businesses. One of the biggest things is patience. It generally takes longer to build something successful than one thinks, or aspires to, or hopes. It's also difficult sometimes in a day to day to step back and see how much progress we made. And that's really important. Travis: So what do you mean? Go deeper on that. To see what type of progress, you mean recognize a smaller, incremental improvements from that perspective? Noah: Yeah, we're very much generally caught up in the day to day of the business, and it's really important, it's a journey. Starting a business and growing a business is hard, and it takes a lot of resilience to do it. And it's important to step back and every now and then, and look at the progress that an entrepreneur has made since they started the business. I don't do that enough, and I try to do that more with my team. Travis: Yeah, kind of the old saying is it's hard to tell when you're on a sinking ship. That's a negative example but when you live it on a day in, day out basis you become, I don't know, you don't see things quite-- It's hard to be impartial and see what the positives and the negatives are. So I agree with you that you need a step back and try to be as objective as possible. My first business was estimating for 11, and I'm very good at that yet I've missed it many, many times, and still do when I estimate how long a project is going to take me to get it up and running. And that speaks a little bit to what you're talking about there. The undertaking of building a successful business is very serious until you get some systems in place and everybody's operating in a similar fashion. Noah: Yeah, and I think more of the analogy would be when you're climbing a mountain it's important to look back down from time to time and see how far you've climbed. Most entrepreneurs are obviously focused on getting to the top of the mountain which is very important, but it gives you energy to

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THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

continue to climb towards your ultimate goals by looking down and seeing how far you've come. So it's less of the sinking ship and more of fuel to continue to do something difficult, which is building something great. Travis: Yeah, I agree with you. And that's a much better analogy and it has a positive connotation to it because that's what it is. You're building something that really could and should last generations, right. Noah: Exactly. Travis: So, even Stitcher, both of the businesses, rather than taking the bootstrap approach to building Stitcher, you've used venture capitalist money to build the thing quickly? Noah: That's correct, and it still takes a long time but we have to build a lot and so that requires quite a bit of capital. We were doing major integrations with automotive manufacturers to get Stitcher directly into the car. So we've announced and then rolled out with Ford, and GM, and BMW, and Mercedes, and Mazda, and that requires a lot of engineering effort, as does maintaining the platform itself. So that requires quite a bit of capital. Travis: Yeah, sounds like an extremely expensive infrastructure to build out. Noah: Yeah, it's not cheap but well worth it from the perspective of building something better. Better for the producers of content, better for listeners, better for advertisers, a better mousetrap. Travis: Right. Which is never-ending. Would it be safe to say that all of your business ventures have been more along that line rather than building something from a bootstrap approach? Noah: Yeah, I think so. And I've built a couple of sort of non-sustainable businesses when I was in college. And I would rather build a business bootstrapping because there's more control, there's less distractions, I have a board of directors and investors that obviously require updates and information on how the business is going. So I aspire to bootstrap and build a business that way. But so far in my career, mostly my experience is with venture capital backed businesses. Travis: Yeah, I'm with you. The reason I initially became an entrepreneur is because I wanted the autonomy. I wanted the freedom to decide what we are, what we are not going to do, and of course that goes out the window when you bring venture capitalist in to fund a start-up, right. Noah: Yeah, it becomes more difficult, there's certainly the benefits besides the financing. A lot of the folks have seen quite a lot, some may have been successful entrepreneurs themselves. So that can be helpful along the way. But it is certainly, and good venture capitalists, and we have good ones, believe that the vision of the business should be driven by the leaders of other business. But there are definitely more cats to herd.

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Travis: Right. So before, you were so rudely interrupted with that poor connection, can you take me back to-- You were starting down a path of talking about some of the elements that you feel like get in the way and prevent people from building a successful business. And of course the first thing that come to your mind was perspective and using that analogy of climbing up the mountain. What are some of the other things that come to mind because this show is about giving aspiring entrepreneurs and entrepreneurs that are in the process of trying to build something meaningful out of their business and their life to draw on other people's experiences as much as possible and grow as quickly as possible? So did you have other thoughts before you were interrupted there?

Noah: Yeah. Obviously things like honesty and hard work are fundamental. And anybody who's an entrepreneur is taking some risk but I believe that one shouldn't be afraid to take more risk and make some mistakes. As a ski racing coach of mine in high school used to say to me if you're not crashing you're not focusing hard enough. So it's important that it's okay to make mistakes. Obviously you don't want to make too many mistakes that you put yourself out of business but one shouldn't be afraid to make mistakes. Travis: Right. It's funny you say that because that was really the driving force behind why I had created this show is because I was really frustrated. So I'm 47 and I grew up in an era where a lot of successful people portray themselves in a light that they make very few mistakes and their rise to the top was almost vertical. And it was disenchanting for most other people to watch superstars like that because they think, "Wow, I could never measure up to that. I wasn't born brilliant, my family doesn't have money, I don't understand business at that level." And it was really frustrating for me. Now I've built four multimillion dollar businesses but it was a very flawed path. A lot of failures, a lot of mistakes, some catastrophic, and I've got the scars and the sleepless nights and everything to prove it. And nobody was having that conversation in an authentic way, or at least on a level that reached a lot of entrepreneurs so that they could find encouragement and realize that even people that have success still have these crazy thoughts of doubt, of fear, of concern, of worry. But we've just managed to say, "Screw it, we're going to go after it and skin our knees, and possibly get hurt in the process." And so I was just frustrated and that's why I created this. So I love the fact that you mentioned that. Now I don't like looking silly in front of anyone and making mistakes but you've got to get past that to really get down to the good stuff, right. Noah: I think so, and I would go beyond that and say that in the long term you might silly in front of people if you don't make mistakes. One of the best learning experiences is through making mistakes, now that doesn't mean that one should run towards mistakes, we should try to do the most intelligent we can think of. But being afraid and you know, fear is a natural thing and so we all need to face that. But when we fail it's about what you take away from it and how you pick yourself back up, and how you turn lemons into lemonade. Copyright © 2012, 2013 The Entrepreneur‟s Radio Show

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Travis: Right, I agree. How old are you Noah? Noah: I'm 38. Travis: 38, okay. So you're old enough. You come from that era also to where a lot of the radio host spoke in a very-- And it was just the times, right, you know, "Hey, hey, we're coming to you--", everything is a lot fluff and nonsense. And I feel like that we're in an era of more authenticity, and people's BS detector is much more refined, kids are much more advanced. And I think people are better served by just being authentic and being clear, and straightforward about your failures and imperfections. I can follow someone that gives it to me straight rather than someone that constantly blowing sunshine. Noah: Yeah. Travis: I do like positivity, don't get me wrong, but give it to me real, right? Noah: Yeah, I think that that's absolutely right. And one, as an entrepreneur, you have to be positive and optimistic by nature. By definition, one's an optimist when starting a business. Travis: Right. Noah: One won't start a business that they think is going to fail. And every turn in the road there are positives and there are negatives, and it's about what you make of them. And I think authentic conversations about that are important. Travis: So I try to engage as many entrepreneurs as possible and I've learned to ask questions while leading them to what they think I want the answer to be because I view it as kind of a test. I really want to hear what people think, what they're worried about, what they're scared of. And I've had several people that were surprised that I still have elements of doubt. I've got this crazy campaign where we're given away a Lamborghini and a lot of money, and it's to drive a competition. And I still have thoughts in my mind like this little evil 6-year old that jumps up and says, "Who are you to do something crazy like that?" Something that's trying to talk me out of taking things to that next level and I've had several people surprised about that because I've had success in businesses and unfortunately that voice never goes away. How often does that voice talk to you and what do you do when it does try to get in your head? Noah: Yeah, I think the voice talks to me a lot. I think it talked to me more when I was younger. I think being told that my idea was crazy and that it would never work by hundreds of people, smart people. I've pitched a lot of venture capitalist, at StubHub talked to a lot of people in the early days who also thought it was crazy. And I was right, and so as time went on more people came to believe. And so as time has gone on, I've got more confident. When those thoughts get into my head I will sometime think Copyright © 2012, 2013 The Entrepreneur‟s Radio Show

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about, this isn't the first time that there is fear and doubt, there's always kind of fear and doubt, and sort of trust one's gut. And then the other thing is to just look down and see what's the worst thing that can happen? And generally, once you've sort of see the worse thing that's going to happen, as long as it's not something physically harmful, or something illegal it's okay. Travis: Right. Other than just maybe a little bruised ego and you know-- I've had some failures that were pretty brutal. But reflecting on it in a very candid way, to the extent of how brutal they were was really determined by me. Noah: Exactly, a lot of it I think is about perception and perspective. I think everything is about perspective. I also think time can change perspective. Some people bounce back more quickly than others and doing things to be honest but be positive with oneself when you take a rough one and hit the mat is pretty important in terms of the process of getting up and getting stronger. Travis: Yeah, definitely time can change perspective and also growth, growing. I was just having this conversation with one of my guys and I'm not convinced Noah that everything happens for a reason, I'm just not. But I am convinced that there's a lesson in everything. Noah: I agree with you about both of those. Travis: Because I've given an extensive amount of thought and I just can't rationalize how every single moving part could be happening for a reason, you know. But for me I've grown the most when I've made an ignorant mistake, or just made a mistake and I thought, "Okay, let's replay this over and figure out where I went wrong." And I think that's vital piece of growing yourself and your business is to not be a victim and to look at things from a perspective of where did I go wrong, how could I have made a better decision and how could I have improve this. Moves you from the victim mode and into a more productive line of thought and questioning with yourself. Maybe I'm crazy and I spend too much time alone thinking about these things but for me that's how I personally grow. Is that something similar to the process that you have personally? Noah: I think key to a lot of entrepreneurs, and we as entrepreneurs spend a lot of time in our heads. And what's going on in our heads and how we deal with things in our heads is one of the most vital thing. So learning lessons from failures and making sure that you don't channel them into regret, you channel them into lessons for the future is important. The other element is humor. I find that if I check in with myself, make sure I'm laughing and if I'm not laughing or I know that at some point in the future I won't laugh about something, then it's really bad. In the grand scheme of things these are not, our issue seems so big to us but they're not really that big in the grand scheme of things. And the humor of it is important as well. Which reminds me Travis, is it still possible for me to win the Lamborghini?

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Travis: Yes, actually I'm going to tell you about the contest here towards the end. I'd love that, we're going to put together a contest. Well, I'll explain the details to you later but the answer is yeah. Noah: Cool. Travis: Would you drive it or would you sell it? Noah: What color is it? Travis: It's yellow. Noah: And what kind of Lamborghini? Travis: It's a Gallardo, and it's a 2005. Noah: I love Lamborghinis, I don't own one. I am not flashy but I think I would keep it. I may trade it for a black one or a gray one because yellow doesn't match my skin tone very well. Travis: Well you know, I'm kind of the same way because all of my vehicles are black, all of my vehicles but that. And I really wrestled whenever I bought this car, because I asked the guy, I said, "Do you have either a black or a white one?" And it's not like a regular car lot, the inventory is low, countrywide for these things. And so if I had my druthers, I would pick maybe a black or something like that, more stealthy. And he made the point, he said, "When you drive a Lamborghini it's screaming anyway, so--" Noah: That's it. And winning a yellow Lamborghini is kind of cooler than winning a black Lamborghini It should be yellow, right? Travis: That's right. And I got to tell you, maybe this is an affliction for most guys, I've always loved cars. It's an experience like nothing you've ever experienced. If you've ever ridden a sports bike, like a 1,300 GSXR, something like that. Noah: I have quite a few actually. Travis: Alright. So it's like that and a car. Noah: That's what I hear. Travis: Yeah, because it's all-wheel drive, and so I was really disappointed at first because I was looking forward to breaking the tires loose. Noah: Yeah, all-wheel drive could get you out a lot of trouble though. I have a Carrera 4 and the allwheel drive has definitely helped because my skill doesn't match the performance of the car. Copyright © 2012, 2013 The Entrepreneur‟s Radio Show

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THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

Travis: Right. Yeah, an all-wheel drive can definitely get you out of a lot of trouble but a very expensive car to maintain. Hey, I know that you're short on time so do you have your seatbelt on right now? I don't know if you have a seatbelt in your chair or not, do you? Noah: I wear one. I don't have a seatbelt in my chair right now. If I did have one it would be like a 5point harness-Travis: Exactly, a 5-point racing harness. I was going to say, if you do buckle it up because we're going to transition you into the lightning round. Are you ready? Noah: Ready. Travis: Cool. Alright, so what book or program made an impact on you related to business that you would recommend and why? Noah: Team of Rivals which is Doris Kearns Goodwin book about Abraham Lincoln, and it is about, from my perspective it was about leading a lot of different type of people through a time of great change. And that and we're changing an industry and there's a lot of different types of people. And it's not a business book, obviously. Travis: And what's the name of it again? Noah: It's called Team of Rivals. Travis: Team of Rivals, interesting, I've never heard of that. Noah: It's quite long, and so the other benefit of it is that if you have trouble sleeping, which a lot of entrepreneurs do because they're thinking about their businesses. It helps to go to sleep. Travis: A side benefit. Okay, so what's one of your favorite tools or pieces of technology that you've recently discovered if any, that you would recommend to other business owners and why? Beyond Stitcher. Noah: Yeah, of course, beyond Stitcher. I'm wasn't going to shamelessly plug Stitcher, although it did occur to me to do so. Travis: Right. Noah: That I've recently discovered. Actually, I was a PC person and all of my team or the vast majority of my team are Mac folks, and they were just heck fooling me constantly, because most of them are engineers. So embarrassingly, I recently discovered a Mac book Air, and it's pretty cool.

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THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

Travis: Congratulations, I'm glad you've came over from the dark side. Noah: Yeah, I'm usually late to the party. But it's been great. Travis: I second that notion. When I made the transition, when I first started using the Mac I felt completely disoriented and lost. Now I'm so much more efficient with the Mac that I wouldn't dare go back. Every once in a while I get on a PC to help someone and I can't remember how to operate that thing. Hey, what famous quote would best summarize your belief or attitude in business? Noah: Go confidently in the direction of your dreams, live the life that you've imagined. Travis: I like that. The ease that you repeated that tells me that you've got that branded in your brain, you're not reading it off of a piece of paper, am I right? Noah: It's a piece of paper in my brain. Travis: Right. Hey, do you have any superpowers you'd like to share with us that most people don't know about? Noah: I think that I'm pretty emotionally intelligent, which is good because I think I can relate to folks. I don't have a thick skin, that's the detriment of it, that's sort of the Kryptonite of it. But I guess that's a superpower. And I'm also pretty quick in a car in a race track. Travis: You're pretty quick in a what? Noah: In a car on a racetrack. Although I'll try to be quick in a yellow Lambo. Travis: Yeah. Man, I tell you, driving those cars the way they're meant to be is very expensive. Replacing the tires on it is painful. Noah: Yeah. Travis: You know, after 3 or 4,000 miles too. Noah: Exactly. Travis: The 50,000 mile tires on most cars, right. Noah: Exactly. But there probably the most fun 3, or 4,000 miles one has ever put on. Travis: Yeah, without a doubt. Hey, how do people connect with you?

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THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

Noah: noah@stitcher.com is my email, @noahsark is my Twitter, or I'm on LinkedIn as well, just search Noah Shanok. My last name is spelled Shanok. Travis: @noahsark, you funny guy, you. Noah: Yeah, and almost two by two. Travis: You are a wealth of information, I've enjoyed connecting with you. Can you hangout a couple more minutes? Noah: Absolutely.

End of Interview Travis: Man, it's been an absolute pleasure hanging out with you and picking your brain, and just having you share your knowledge with everybody. So listen, I want to remind you guys that you can find all of the links to the books and the resources mentioned in the show in the show notes. Just go to rockstarentrepreneurnetwork.com, it's a brand new website that we're building out that's completely focused on giving you a resource to grow your business. Now, before we close the show I want to tell you about a really exciting program that we're putting together to help you discover and apply a proven formula that shows you how to create an extremely profitable business when you combine the formula with your great service or product, Many small businesses are missing these pieces of the formula that make their business predictably profitable each month. It's called the Business Breakthrough Program. Now, we're recording the show in advance so we're about to go live with it in the next couple of days although when you hear this recording, it's going to be live and ready for you. So again, it's called the Business Breakthrough Program where you'll have a chance to win $73,000 in cash and prizes to supercharge your business, and a chance to win my personal Lamborghini. This formula is exactly what I've used to build several multi-million dollar businesses with very little money. Now the reason for the grandiose prizes are to generate some spirited fun while motivating you, generating a buzz, and just to encourage you to get out of your comfort zone. This aligns with what we were talking about with Noah, you need to get out of your comfort zone and take it to that next level because that's what it takes for you to reach your true potential personally and professionally. Again, for more information go to rockstarentrepreneurnetwork.com and look for the sweepstakes promotion. My quote for today comes from Wilferd A. Peterson, and the quote reads, "Big thinking precedes great achievement." This is Travis Lane Jenkins signing off for now. I want to personally challenge you to dream bigger and take constant action because as an entrepreneur you are the role model. To your incredible success, take care.

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THE ENTREPRENEUR’S RADIO SHOW Conversations with Self-made Millionaires and High-level Entrepreneurs that Grow Your Business

How We Can Help You We know that finding someone that you can trust online today is hard and that so many “so called gurus” are self-‐appointed and have never really even done what they teach you to do. That‟s exactly why we created the Double Your Profits Business Accelerator. This is an exclusive offer for our fans at a fraction of its normal cost. Here's what to expect. We'll Schedule a 'One on One' private session, where we'll take the time to dive deep into your business and tell you what is missing, so that you can have your best year ever! We'll do this by performing a S.W.O.T. Analysis. This tells us your Strengths, Weaknesses, Opportunities and Threats within your business. This will be an eye opener for YOU, for several reasons, however some of the most common reasons are. As the 'Business Owner' it‟s difficult to see the big picture of your own business because you‟re in the middle of a daily management. And you are too emotionally involved to completely impartial. This is a common problem for EVERY business owner. It doesn‟t matter if you are a one-man army, or an army of 150, the problem is still the same.

Travis Lane Jenkins Business Mentor-Turn Around Specialist Radio Host of The Entrepreneurs Radio Show “Conversations with Self-made Millionaires and High-level Entrepreneurs That Grow Your Business"

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