Why Veterans Make the Best Entrepreneurs

7/27/2019 Why Veterans Make the Best Entrepreneurs

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Topics Vetrepreneurs

Nine core Competencies of Business

Seven phases of starting a small business

Resources

Tips & Tricks

Q&A



About me… Deanna Wharwood - The Veterans Coach

My mission in life is to help activeduty, veterans and military spousestransition easily from military lifeto their dream life.



What is a Vetrepreneur?A veteran who bec

omes an entrepreneurafter leaving military service.

A Veteran Owned Business



Military service instills the 6 D’s of Entrepreneurship

Why do veterans make great business owne

Ability to DisengageDisciplineDrive

DedicationDeterminationDesire



According to a study by the SBA

The Numbers

Over 5 million veteran owned businesses in US

22% of veterans consider starting a business

68% of veteran owned businesses survive 10 y

Fastest growing segment of business ownersh



Frederick Wallace SmithCaptain, USMC – 1966-1969

Combat veteran – Vietnam

Silver Star

Bronze StarPurple Heart

Formed FedEx in 1971 using part of his

inheritance and $91 million in venture capital.

Net worth today over $2 billion



Malcolm Stevenson ForbesStaff Sergeant, US Army – 1941 -1946

Combat veteran – WWII

Bronze StarPurple Heart

Wounded at the Battle of the Bulge.

Left the military and built Forbes magazineinto a publishing empire.

He became an avid Harley Davidson enthusiast late in

life and was posthumously inducted into the NationalMotorcycle Hall of Fame in 1999.

Net worth at the time of his death in 1990 - $1 billion



David Rex “Dave” Thomas Staff Sergeant, US Army, 1950 – 1953

Volunteered for the Cooks & Bakers School, Ft Benning

Served 2000 soldiers daily at his post in Germany

Left the military and went right into the restaurantbusiness, ultimately working for Colonel Sanders at KFCand is credited with much of their success in the 60s.

Opened the first Wendy’s in Columbus, Ohio, in 1969.

Dave Thomas died in 2002 after a lengthy battle withcancer. His legacy of success remains the cornerstoneof Wendy’s continued growth.



Bea Arthur, USMC John Coltrane, US Navy Joe Dimaggio, US Army Arthur Ashe, US Army

Bill Cosby, US Navy Hugh Hefner, US Army Ice-T, US Army Desi Arnaz, US Army

Maria Hernandez, Army Captain Kangaroo, USMC Elvis, US Army Jimi Hendrix, US Army

Famous Veterans



9 Core Competencies of B

Essentials of Entre



Core Competencies of Business

#1: Entrepreneurial Thinking

Ability to see opportunities infront of you




#2: Business Visioning

Ability to accurately assess andassign resources to thebusiness idea




#3: Business Planning

Formalizing and solidifyingyour concept on paper




#4: Marketing your Business

How you get the word outabout your business




#5: Salesmanship

Ability or effectiveness inpersuading others to buy aproduct or service




#6: Managing your Operation

Effectively overseeing allaspects of your business tomaximize profit potential




#7: Managing your Mindset

Keep your head in thegame through time andlife management




#8: Managing your Team

How you manage your teamis fundamental to success.




#9: Shifting from BusinessDoer to Business Owner

Where your hard work paysoff as an appreciating asset



7 Phases of starting up a small b

A formula



1 P H A S E

Legal Setup

Allow two weeks



2 P H A S E

Corporate Setup

Allow 6-8 weeks



3 P H A S E

Strategic Setup

Allow 60 days



4 P H A S E

Marketing Planning

Allow 7 days



5 P H A S E

Startup Capitalization

Allow up to 6 months



6 P H A S E

Capital Raising/Marketing

Allow 30 days



7 P H A S E

Operations Planning/Execution

Allow 4-6 months

The 7 Phases are NOT



The 7 Phases are NOTstep by step activities

VOB

1

2

3

45

6

7



Have a Plan BLife happens – prepare for contingencies

Authorize a “Second”

Someone who

“Has your back”



ReWhere to get the he



Deanna Wharwood – Veteran’s Business Co

Sign up for

no-cost consultationdeannawharwood.com/blog

Get free copy of startup checklist

deannawharwood.com/blog

BlogTa

www.blogtadeannaw



Timothy Shar – CEO at K-9 Patrol Inc.

“ Deanna has information that is more valuable thagold and more than many others around. A true ein her field. I can not put a price on the informatigave me only to say it was more precious than go



Don Merrill – Professional Interviewer

“ Deanna Wharwood was timely, professional,knowledgeable, friendly and gave me exactlywhat I needed. I would recommend her to othand I would work with her again.



C di



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