As a business educator, Greta Kishbaugh’s passion is helping anyone with a business idea. As a professional, she is a changemaker who uses her marketing expertise to help entrepreneurs find their “why.” As a Veteran spouse, her specialty is guiding Veterans transitioning from military service to civilian life, particularly in navigating the unstructured world of entrepreneurship.
That’s why nearly a decade ago, Hillsborough Community College (HCC) in Tampa, FL, called on her when they saw a need for veteran entrepreneurship training.
Through a collaboration with the Entrepreneurship Professors at HCC, Greta helped with the launch of a seven-week program that grew into STRIVE (Startup Training Resources to Inspire Veteran Entrepreneurship), now in eight community colleges with plans for others.
Several of the courses Greta and her colleagues developed are part of a new, intensive financial readiness program, Veteran Capital Readiness Initiative (V-CAP), within STRIVE. These resources include exercises to help them think through business details, talks by past graduates, and a financial dashboard that focuses on their balance sheets, income statements, and cash flow.
Participants develop a budget, learn to stick with it before taking on debt, and know what plans and financials they need to have ready to eventually apply for a loan.
“We take an experiential approach, as opposed to lectures, and we provide one-on-one mentoring to help them stay on track,” says Greta. “We create a safe environment where they work with a team and can practice and mess up.”
A unique feature of V-CAP is the emphasis on cash flow, particularly on not spending money during the start-up phase. Often an entrepreneur will have an idea and their first step is to take out a loan to fund it. Without a solid understanding of their financials, the business is at risk of failure.
“We encourage them to test their product first,” says Greta. “We want them to get comfortable enough to understand what they really need for their business.”
For example, one veteran in the STRIVE program wanted to offer management consulting services. His mentors encouraged him to sell his services before investing in things such as rental space or software. He bought a small ad and did very well attracting clients, only spending a few dollars.
Sometimes veterans come into the program with one idea, or no idea, and discover an entirely new idea—a better idea—that fits their talents and lifestyle. Instructors call this finding their “why” —why they want to start a business—and their MVP, their most viable product.
“Often a veteran comes in with an idea or an existing business, but then realizes that is not where their passion is,” says Greta.
One veteran was dressing as a mermaid to sell her jewelry and was struggling with her business. Then she realized being the mermaid is what energized her, not the jewelry. Now she has a thriving business as a mermaid at birthday parties and other events.
The program at HCC has helped many veteran entrepreneurs birth successful businesses, such as:
- KMD89 VA Claims Consulting, a Veterans Affairs claims consulting company
- Iron Sharpens Iron Fitness, a mobile and virtual fitness ministry
- On French, LLC, a food delivery service that offers meals influenced by native New Orleans cuisine
- Dental Dana, a mobile dental hygienist offering at-home or nursing facility dental care
You can learn more about V-CAP and veteran or military-connected entrepreneurship opportunities at HCC’s STRIVE website.