Laurence Girard is the CEO of Fruit Street Health, an online diabetes prevention program he has raised more than $30 million for from 500+ physicians.

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Guest Resources

Fruit Street – Fruit Street’s website

Laurence’s Email – Reach out to Laurence via email!

Fruit Street on YouTube – Subscribe to Fruit Street’s YouTube Channel

3 Value Bombs

1) You don’t need a venture capital firm to be a successful entrepreneur.

2) The only thing that ever changed the world was a small group of committed citizens.

3) Shoot for the moon; if you miss you will land amongst the stars.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Crowdfunding From 500 Physicians Instead of 1 Venture Capitalist

[1:08] – Laurence shares something that he believes about becoming successful that most people disagree with.

You don’t need a venture capital firm to be a successful entrepreneur.

[1:35] – Health is a BIG space… Why diabetes prevention as your main focus?

He was planning to go to medical school. He realized that a lot of the patients coming into the emergency rooms had diabetes, were obese, or had a history of stroke or heart disease.
He became interested in how to use diet and lifestyle to improve public health and prevent disease.
He discovered a Diabetes Prevention Program was more effective than a pharmaceutical drug called Metformin.

[3:48] – Why did you go the crowdfunding route instead of looking for VCs?

In health care you need to have a dual focus – you need social impact and a sustainable business model at the same time.
A majority of Venture Capitalists are focused on financial returns.
Laurence is more interested in building something for the long term
A quote Laurence lives by – The only thing that ever changed the world was a small group of committed citizens.

[7:43] – Physicians are realizing that diabetes is a big problem – talk about what they’re doing as a result

Physicians are realizing that they can participate in an entrepreneurial process and support ideas to improve their community.

[8:47] – A timeout to thank our sponsors, Notion, HubSpot, and ZipRecruiter!

[11:10] – Let’s talk pros and cons. What are the pros of crowdfunding instead of working with an institution?

Cons
- More time consuming to raise capital.
- It’s difficult to keep 500 people happy.

Pros
- When things are going well, you have 500 cheerleaders cheering you on.
- Warm introductions are priceless.

[15:08] – Let’s talk social impact. What is your goal for Fruit Street’s social impact in the next 5 years?

If you have 1 million people in the program and achieve at least 5% weight loss, you are preventing hundred of thousands of cases of Type 2 Diabetes. You are also preventing the complications associated with Diabetes.
We have people in the program who have lost weight and stopped their medication.
The social goal is more powerful in motivating our team.

[18:46] – Laurence’s key take away for Fire Nation

You have to set a big goal that inspires you.
Shoot for the moon; if you miss you will land amongst the stars.
Instead of focusing on financial goals, focus on your social impact.

[21:01] – Laurence’s call to action.

Fruit Street – Fruit Street’s website
Laurence’s Email – Reach out to Laurence via email!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

Crowdfunding From 500 Physicians Instead of 1 VC with Laurence Girard

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