This is a must-listen-to episode. Patrick covers so much ground in this interview - we talk about choosing a team that is lean and mean; we talk about his experience not being sure of what to do for 5-6 years, wandering from business school to consulting to ultimately finding a place he passionately calls home; we talk about work and life balance and how to think about this as an entrepreneur; and we talk about finance and entrepreneurship. There is so much great advice in this interview!
Bill has had an eclectic career and covers a lot of ground in this interview. In addition to talking about how to find and join a high-growth startup, he also talks about his experience starting his own consulting company. He also has fantastic advice about networking - how to approach it and why it's so important for veterans to learn how to do this effectively.
In the past I've interviewed veterans involved in Franchises. Gordon started a company that has become a franchise with over 1,700 locations, and many of their franchise owners are veterans. He gives an incredibly vivid look at what it is like to start and grow a company, how to remain fresh and grow with your business, and how failures are never final.
Todd Connor is CEO & Founder of Bunker Labs, an organization that helps military veterans start and grow businesses. He is also Co-Founder of The Collective Academy. He started out at Northwestern University, after which he served as a Surface Warfare Officer in the Navy for four years. After his transition from the Navy her held positions with the State of Illinois Inspector General, McMaster-Carr, Booz Allen Hamilton, and the Chicago Public Schools. Todd holds an MBA from the Chicago Booth School of Business.
(1) Franchises - we continue our deep dive into a career as a franchise owner - why this may be appealing to veterans and how to succeed at it. (2) Honesty about skill set - Eric talks about how vital it is - in franchising and in any career - to be exceptionally honest and reflective about your strengths and weaknesses. (3) Long-term investment - Eric talks about viewing a franchise investment as a 5-15 commitment (which, coin end tally is a great asset of veterans who often have approached the military as a long-term commitment). He talks about doing your homework - especially around culture, and making sure the business won’t be uprooted by technology in the long-term (4) Market Research - Eric’s career has been in market research and he provides some insight into what this sort of career is like.
For those that listened to Episode #129 with John Francis, you know that I’ve been thinking about how veterans that are interested in entrepreneurship should really consider a franchise. It seems to be a business with training wheels. It helps bridge the gap between someone’s military strengths and what’s necessary to grow and run a successful company. My guest today is Marlon Terrell, who went straight from the Navy into owning a Chick-Fil-A franchise. I really enjoyed this conversation. Marlon provides just the right amount of detail. I walked away feeling like I understood what it’s like to be in a franchise owner’s shoes in terms of pay, career progression, and hours. He really painted a vivid picture of what life in a franchise looks like. I also think it’s helpful because Marlon was really articulate in discussing exactly how what he learned in the military was applicable to his work as a franchise owner as well as how he went about selecting a franchise. He also talks about why a franchise may or may not be suited for you as a veteran.
John W Francis runs Next Level Franchis, Inc in Minnesot, where he helps franchisors, franchisees and supplier companies with their business issues by offering perspective, experience, advice and connections to help move them forward. He started back in 1' helping in his family business, The Barber’s Inc, which a the franchir of Cost Cutters, City Looks, and We Care Hair Salon. Over the next 5+ years he elped to grow he business internationally, eventually selling to the Regis Corporation in 1999. Since then he has directly worked with franchises, as well as served as an advisor, board member, consultant, and speaker to any people and companies in the franchise world. He is known as “Johnny Franchise” and is a Franchise Expert.
Jim Vesterman is the CEO of Raptor Technologies, which is the nation's leading provider of integrated safety technologies for K-12 schools. He got his undergraduate degree at Amherst College, after which he worked at both the Monitor Group and for a software startup. He deferred his MBA to join the Marine Corps as part of 3rd Force Recon Company. After he got his MBA from Wharton, he started an entrepreneurial vehicle called a search fund - which we’ll get into - called Liberty Place Capital. Liberty Place Capital ultimately purchased Raptor Technologies in 2012 and he has been running that company for 5 years.
Ray and Samantha Allen are both 2009 Naval Academy Graduates. After graduation, Ray went to flight school & became a Navy Helo pilot while Sam became a Marine. Samantha served as a Marine for 5 years at Marine Special Operations Command (2nd MSOB) and weapons training Battalion. Ray is an HSC pilot now instructing at the Naval Academy. The two live in Annapolis, MD with their three daughters, and have been building their business together for four years.
Justin Cooke is the Founder at Empire Flippers, a company that helps others buy, sell, and invest in profitable websites and online businesses. He started out in the Navy, where he spent 6 years as a Sonar Technician 2/C (STG2). Empire Flippers is an INC 500 company - Justin runs a 22 person team and has $27M+ In Online Businesses Sold.
Evan Hafer is the Founder & CEO of Black Rifle Coffee, a small batch coffee roasting company. He started out at the University of Idaho, after which he spent 14 years in the U.S. Army as an infantryman, a Special Forces soldier, and a CIA contractor.I came across Evan in a 2016 Forbes Article about the Top 25 Veteran Founded Startups in America.
Nick Taranto is the Co-Founder & CEO of Plated, a company whose "Mission is to Help People Eat Better, and Live Better." Plated has raised over $55M in funding, and been featured in the Wall Street Journal, Forbes, NYT, Wired Magazine and more. He started out at Dartmouth College, after which he worked at KOMPIP Microfinance before going on to Harvard Business School. After HBS, he graduated from the Marine Corps' The Basic School, where he Drilled as an active reservist for 3 years. He also worked at Goldman Sachs as a Private Wealth Advisor prior to starting Plated.
Jon Boggiano and Chris Boggiano are the Co-Founders of Versame, which leverages technology for large scale impact to improve early childhood education and language development. Versame has raised $2.5M in funding and is a team of sixteen.
John Gossart is the Cofounder and Chief Operating Officer of GoodWorld (www.GoodWorld.me), the FinTech startup revolutionizing philanthropy and social payments. GoodWorld was named one of Fast Company’s Most Innovative Companies of 2016 and D.C.’s Best Technology Startup. Prior to GoodWorld, John was an original partner at RideScout (www.RideScout.com), the tech startup acquired by Daimler-Mercedes in 2014.
Elijah Crane (Eli) is the Founder and CEO of Bottle Breacher, a company that creates hand crafted 50 caliber bottle openers made by Military Veterans. As President of Bottle Breacher, Eli has grown Bottle Breacher’s annual revenue to over $5 million in 2015, applied for and received 7 patents, and Negotiated a partnership with Mark Cuban and Kevin O’Leary on ABC’s hit show Shark Tank. Eli started out in the Navy, where he served as a SEAL for over 15 years. He started Bottle Breacher while on active duty and has run the company for nearly five years now.
Alex Stone is the Founder & CEO of Athletes of Valor, who’s mission is to help veterans transition from service to career by leveraging the power of collegiate sports. He started out as a Sergeant in the Marine Corps, after which he worked as a Product Manager at Wellpower Sports Co, and then at Under Armour as both a Development Manager and then Product Line Manager.
“There are people who have - in their head - ideas that they think are ridiculous; dreams that they're afraid to pursue because of failure; because we're all afraid to fail. But while you have that safety net, go ahead an investigate it - dig into it deep, and then make a plan. Work backwards: this is the goal, assess what you have, and what do you need. And sometimes with plans you have to go back and course correct. Be OK with that. It's not a bad thing sometimes. We often beat ourselves up because we made a plan and it didn't go the way we thought it would - but that's OK. Always look back, reflect and see how you can grow from this." - Dr. Felicia Haecker
Dr. Felicia Haecker is the President of Haecker Associates Consulting, CEO of Dog Tag Divas, and Adjunct Professor at Brandman University, where she also received her Doctor of Education and Organizational Leadership. She started out in the Air Force, where she served for 12 years along with her husband, who served in the Air Force for 15 years. She faced many challenges after her separation from the military, and ultimately chose to pursue her Ed.D on female veterans transitions into post secondary education. Using this understanding of transitions, she now seeks to help other veterans diagnose where they are and construct a plan to reach their goals.
She has made herself available to the Beyond the Uniform community by email at shaecker@yahoo [dot] com
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- a great book to help you figure out what to do with your careerShow Notes
Note: I've typed these notes during my interview with Josh, so they may not completely represent his words, and may contain spelling and grammar errors. My intention is to provide veterans with a quick reference to see the gist of our conversation, along with timestamps to hear Josh's actual advice in his own words within the interview.
Justin M. Nassiri is the Founder & CEO of StoryBox, a digital marketing start-up that helps companies transform their customers into brand ambassadors. He started out at the Naval Academy, after which he served five years as an officer onboard nuclear submarines. After his transition from the military, he went to the Stanford Graduate School of Business, after which he started StoryBox. He started Beyond the Uniform at the end of 2016 in an effort to help military veterans navigate their civilian career.
Jacob Martinez is the President of Market Traders Institute, a trading technology and education company with over 200 employees. Jacob started out in the Army, where he served for 4.5 years in military intelligence achieving the rank of sergeant. He started out at Market Traders Institute as Vice President of Managed Accounts and has held virtually every position in the company.
