Veteran Entrepreneurs in Tech

I've been interacting with veterans from all over the country that are at various stages in the entrepreneurial ventures.  Many ask advice on how to get their own start-up off the ground and what things they can do enter this wildly unstructured world of entrepreneurship.  I stress "unstructured" because I've found that the only fixed rules of entrepreneurship are state and federal laws, other than that, anything goes. 

Operating in an unstructured environment is different for us military folk.  We may enjoy our freedoms, however, we're so ingrained with process and procedure that we're often unaware of how regimented we are.  Just ask any military person for directions.  Do they point with their index finger?  No, they'll hold their hand with their fingers together, their thumb tucked to the side and throw their arm in a direction with the hand acting as a spear point. That's what we do.

So, what are the best resources for veterans that need structured assistance but want to navigate the wide-open waters of entrepreneurship?  The answer isn't so clear.  This is a problem I'd like to address head-on.  


Problems Veteran Entrepreneurs Face
More than 75 percent of veteran entrepreneurs report encountering challenges as they start and grow their business. The top three challenges are:

1. accessing capital,
2. limited or no networks, and
3. difficulty developing relationships with mentors. 

Solution
I do not want to reinvent the wheel.  Rather, I want to create an organization that serves as a central hub for veteran entrepreneurs.  Given my venture capital experience in the technology sector, I would like to focus on veteran entrepreneurs who are leveraging tech in some fashion.  Though we will assist any veteran entrepreneur, our sweet spot will be tech-enabled ventures.   

The proposed name of the organization is Veteran Entrepreneurs in Tech (VET).  This name is simple and it immediately identifies who we serve.    

Why GoFundMe?
I am using crowdfunding as a means to test whether VET has legs.  What better way to gauge interest than by utilizing a crowdfunding platform?  If no one donates, then I assume I should go back to the drawing board.  If the campaign is a success, then that serves as validation to continue marching forward.  

Use of Funds
The money raised via GoFundMe will be used to cover initial startup costs inherent to starting most any business.  These expenses include: 

Legal - Incorporation, Nonprofit Status, Partnership Agreements, etc.  For tax savings, VET will be incorporated in DC as a Limited Liability Corporation.  

Office Lease  - To keep expenses as low as possible, the company will work out of the shared working community WeWork.  Leases start at $600/mo.  

Website Development - In today's world, it is imperative organizations develop a website that is viewable on multiple devices (desktop, mobile and tablet).  I will outsource the development to a fellow veteran entrepreneur.  Given the limited programming required for our website, I will most likely use Wix, Squarespace, or Wordpress.  This will dramatically reduce the amount of money we need to spend.  

Marketing & Business Development - Social media marketing, search engine optimization (SEO), content marketing, etc.  


Conclusion
The American Dream is alive.  Entrepreneurs are keeping it alive. In many ways, veterans are the heart and soul of this country.  We can show our support with programs like VET or with a simple thank you and pat on the shoulder.