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2011 Forty Under 40: Dave Nevogt

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About me...
Dave Nevogt
Owner
Innovative Solutions Inc.
31
Web sites:
Social media:
On my hip:
HTC Incredible
Most-used apps:
Google Voice
Google Chat
Favorite stuff:
Books, including "The Power of Now" and "The Next 100 Years;" movies, including "Office Space;" TV, including ESPN, NFL, college football, basketball
 

After getting his bachelor’s degree from the Indiana University Kelley School of Business in 2002, Dave Nevogt went to work in finance at Abbott Labs in Chicago. He found himself bored.

“I wasn’t feeling challenged,” he said. “I felt like there was more out there. As I continued to work, I realized I was learning, but at a very slow pace. I was putting together reports, budgeting, things like that. I wanted to understand the company and why it ran the way it did.”

Then, in 2003, his dad made him an offer that proved to be pivotal: He said he’d buy him a $500 course in how to take one’s skills and knowledge and convert them to an online business—as long as Dave was willing to follow through.

He was and he did. The result is McCordsville-based Innovative Solutions Inc., which makes online tutorials and DVDs that teach people how to improve their golf game. Nevogt, 31, works with golf pros from Hilton Head, N.C.; Houston; and Arizona, who provide the advice. His job as owner of the company is to work with the pros to make the advice relevant and to sell the material, which can be found at purepointgolf.com.

“A lot of it has to do with making things simple, actually,” said Nevogt, who has a handicap of 12 or 13. “Everyone wants to be complex and in-depth with the information. You have to get it down to a level where you realize they’re not going to be in front of you, so you have to put them in your shoes.”

The company had $500,000 in revenue in 2005 and generated $1.2 million in 2010. Seven years in, Nevogt finds himself fending off challengers and the higher costs of doing business. One way he’s doing that is by getting into software like iPhone and Droid apps, rather than direct sales.

“We’re hoping that has an impact to generate leads at less-expensive rates and converting those leads into one of our brands,” he said.•

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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