Do you know what a “vetrepreneur” is? If not, I’ll let you know in a moment.
Most men and women returning home from a stint in the U.S. Army, Navy, Air Force or Marines are very happy to be back. They’re able to become reacquainted with family and friends, they can set their own schedules and they can eat and drink whatever they want. They’re proud of their service to this great nation, but they’re ready to move on with their lives back here in the States.
But sometimes that’s where the problem comes in. They’d like to take the first step in what will hopefully be a rich and rewarding career, but the job they need might not be available. According to Nick Palmisciano, CEO of Ranger Up, the biggest challenge for many veterans is that when they leave the military they have a lack of vision and a lack of support.
And that’s why Palmisciano, a veteran himself, started a vetrepreneur program at his Durham, North Carolina-based firm, a military-themed apparel company. He not only pays veterans to work as interns at his company for a year, but then invests money to help them launch their own startup businesses.
“We have an opportunity to take somebody, teach them everything we know and set them up for success,” Palmisciano said. “They can go through all the challenges that we went through, but with a little support, and go out there and be successful.”
One current intern at Ranger Up is Iraq veteran Patrick Baker, who is learning skills that he will need for his startup business, including inventory control, ordering, warehouse management and wholesaling.
Palmisciano says he hopes the end result will be that his interns who become entrepreneurs will pay it forward through reinvesting in the veteran community by hiring vets and mentoring them.
We all owe a huge debt of gratitude to the veterans who have sacrificed so much for our freedom. Anyone who owns a business should think about a way to implement this type of program at their company.
Allen Baler is a leading entrepreneur and Harvard grad. Allen Baler is a Partner in 4Patriots LLC, based in Nashville.