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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
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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.
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What is a Vetrepreneur?A veteran who bec
omes an entrepreneurafter leaving military service.
A Veteran Owned Business
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Military service instills the 6 D’s of Entrepreneurship
Why do veterans make great business owne
Ability to DisengageDisciplineDrive
DedicationDeterminationDesire
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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
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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
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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
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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.
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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
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9 Core Competencies of B
Essentials of Entre
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Core Competencies of Business
#1: Entrepreneurial Thinking
Ability to see opportunities infront of you
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Core Competencies of Business
#2: Business Visioning
Ability to accurately assess andassign resources to thebusiness idea
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Core Competencies of Business
#3: Business Planning
Formalizing and solidifyingyour concept on paper
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Core Competencies of Business
#4: Marketing your Business
How you get the word outabout your business
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Core Competencies of Business
#5: Salesmanship
Ability or effectiveness inpersuading others to buy aproduct or service
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Core Competencies of Business
#6: Managing your Operation
Effectively overseeing allaspects of your business tomaximize profit potential
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Core Competencies of Business
#7: Managing your Mindset
Keep your head in thegame through time andlife management
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Core Competencies of Business
#8: Managing your Team
How you manage your teamis fundamental to success.
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Core Competencies of Business
#9: Shifting from BusinessDoer to Business Owner
Where your hard work paysoff as an appreciating asset
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7 Phases of starting up a small b
A formula
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1 P H A S E
Legal Setup
Allow two weeks
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2 P H A S E
Corporate Setup
Allow 6-8 weeks
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3 P H A S E
Strategic Setup
Allow 60 days
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4 P H A S E
Marketing Planning
Allow 7 days
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5 P H A S E
Startup Capitalization
Allow up to 6 months
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6 P H A S E
Capital Raising/Marketing
Allow 30 days
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7 P H A S E
Operations Planning/Execution
Allow 4-6 months
The 7 Phases are NOT
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The 7 Phases are NOTstep by step activities
VOB
1
2
3
45
6
7
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Have a Plan BLife happens – prepare for contingencies
Authorize a “Second”
Someone who
“Has your back”
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ReWhere to get the he
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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
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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
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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.
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C di
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Credits:Photos:
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•Public Domain images through the .GOV and .MIL graphics servers. (Mil
• Celebrity images sourced through public domain or PR galleries.
Presentation design by:
www.presentationwow.com A veteran owned small business