Welcome Home - A Podcast for Veterans, About Veterans, By Veterans
Welcome Home is a Willing Warriors and the Warrior Retreat at Bull Run project. The program highlights activities at the Warrior Retreat and issues impacting all Veterans. For questions or feedback, please email us at podcast@willingwarriors.org.
Welcome Home - A Podcast for Veterans, About Veterans, By Veterans
Empowering Veteran Entrepreneurs: Rachel Miller on Fostering Sustainable Growth at the PenFed Foundation
Discover the transformative journey of Rachel Miller, program manager for the PenFed Foundation Veteran Entrepreneur Program, as she shares her inspiring transition from banking to education to empowering veterans in their entrepreneurial pursuits. Rachel gives us an inside look at the impactful initiatives designed to help veterans develop and scale their businesses, offering a fresh perspective on the challenges and triumphs of veteran entrepreneurs. Join us as we explore the program's application process, its ongoing expansion, and the unwavering commitment to fostering sustainable growth for veterans.
Experience the unique entrepreneurial ecosystem of Bentonville, Arkansas, a small town brimming with opportunity thanks to industry giants like Walmart and Tyson Foods. Rachel sheds light on how this charming community serves as a thriving hub for veteran entrepreneurs, supported by the resources of the PenFed Foundation. With open applications for upcoming cohorts and plans to grow the program into new locations, Rachel expresses gratitude for the opportunity to drive meaningful change in veterans' lives. Tune in for an episode filled with gratitude, inspiration, and a shared mission to make a lasting impact.
Good morning. I'm Larry Zilliox, Director of Culinary Services here at the Warrior Retreat at Bull Run, and this week our guest is Rachel Miller. She's a program manager with the PenFed Foundation Veteran Entrepreneur Program, and this is a program that's been around for a little bit. We're familiar with it at the Warrior Retreat because we've hosted some of their little bit. We're familiar with it at the Warrior Retreat because we've hosted some of their programs there. Just for clear disclosure, the PenFed Foundation is the largest donor to the Warrior Retreat at Bull Run and we're very grateful for that and having them as a partner and having them come alongside us many years ago and help build two additional houses on the property. Today, we're going to be talking about the Veteran Entrepreneur Program. It's really a great program and not many veterans know that much about it and that it's even out there. So we're going to fix that and Rachel's going to help us with that. So, rachel, welcome to the podcast.
Rachel Miller:Thank you so much, larry. I just first wanted to say it's an honor chatting with you. The foundation, penfed Foundation, just really respects what you guys are doing out. There Was amazing having firsthand, getting firsthand knowledge of just how excellent a chef you got, you are, and your team and you guys run an excellent program. I haven't stopped thinking about we had, you know, the opportunity to come out in December for dinner and that it was one of the best meals, if not the best meal, I've ever had in my life. So can't stop thinking about that. Short rib and the soup was amazing, I mean, it was all just wonderful. So thank you so much for that and for having me on. I appreciate it.
Larry Zilliox:Well, we sure did enjoy having the PenFed board out and Chef Fritz, as a veteran chef and just an amazing chef and one of our volunteer chefs in our visiting chef program and just to get everybody out there to help with that dinner was really wonderful. We had a great time doing it too. So tell us a little bit about your background and how you got involved with the Veteran Entrepreneur Program.
Rachel Miller:Right, well, yeah, so I am actually, I think, like a lot of us, we start out we think we're going to do one thing and then we change a lot and go through a lot of different I guess versions of ourselves before we figure out what it is exactly we wanted to do. I actually started out in banking, of all things things part-time job in college, you know, as a bank teller and quickly moved into sales and thought I'd kind of go that route and moved into like the track to become like a branch manager and stuff like that and really kind of felt like you know, this is great and I can make a career out of this. But I really just had this urge to somehow want to make an impact and so I started looking into nonprofit. I went to work for a couple of national organizations pretty well-known organizations and during that time still felt like I was making a difference and I thought, you know, I'm making a living and making an impact, had young, young kids at the house at the time and had the opportunity to become a teacher, so actually completely shifted into education. And then I was a teacher for 14 years and as my kids got older and I started, you know, kind of thinking, well, I don't really need to be on their schedule anymore. I kind of started getting this urge to do something different and I knew that, no matter what I did, it needed to be in that same sense making a living while making a change in people's lives and making an impact.
Rachel Miller:I guess over the summer I received a I get this, you know daily newsletter from Northwest Arkansas called NWA Daily, and the Penn Fed Foundation Veteran Entrepreneur Program had a little piece in that newsletter and I thought, wow, this is amazing, you know, and I just thought this was cool. I love that they're doing this for veterans. I come from a family of veterans, I'm from a military town. I just thought, like they you know, you guys do so much and what a way to give back. And really didn't. It wasn't a job hosting, it was just about the program. I thought this is cool job hosting. It was just about the program. I thought this is cool.
Rachel Miller:Well, happened to be on LinkedIn a couple of weeks later and and I saw the the job posting for the veteran entrepreneur program and I was like wait, this is that thing. I saw in my email. I said I've got to apply for it Like this is where I want to be. Thankfully it has. It has just turned out to be really the just best, best career change and the best team, the best mission I could have ever asked for. I mean, we wake up every day asking ourselves like how can we help a veteran today? And it's just really amazing to be a part of.
Larry Zilliox:So the program itself helps veterans develop businesses, their own businesses. Tell us a little bit so that ability to grow and scale their companies and we have an application process.
Rachel Miller:It starts with filling out an application on our website, which is pinfedfoundationorg, and we go through an interview process and then select between six and eight companies to be part of one of our cohorts. We're actually we've had two last year here in Bentonville, arkansas, which is where I'm based, but we had, we're actually expanding back to Tyson's this year, in 2025, and we'll have a cohort there in May as well.
Larry Zilliox:So that'll be a total of three in 2025, and each one is a little bit eight to 10 people. Veterans.
Rachel Miller:Usually about six to eight.
Larry Zilliox:Okay, we're going to put the webpage in the show notes for all of our listeners, but they apply through the webpage and it sounds as though they need to have an existing business, that they're just having trouble making the leap to grow it. Is that a fair assessment?
Rachel Miller:Well, I mean, I think all startups have, you know, their challenges. So we're not going to have you know, even I say startups, all companies have their challenges. So, yeah, have an existing business in that you know startup stage, that early stage, where they're either just about ready for investment or they're getting ready for investment and need that extra coaching, that extra assistance. And, and the the great thing is, when we select the cohort, we have our senior advisor. He comes in and he does like a one-on-one deep dive with each of the founders. Because, you know, sometimes we think and this is something we ask in the initial interview like what are your, what are your pain points? Like what are your challenges that you think you're facing?
Rachel Miller:But he does a really good job of showing them. Hey, you think this is the bigger problem, but actually, like, let's focus on this, because if we focus on this thing, it will take care of the rest. So he's just a wealth of information, such an asset to our team. And then what we do with that is he kind of comes up with hey, here's what we need to focus on with this company or that company, and then we tailor that our in-person the three-day in-person seminar to fit the founder's needs. So it's it's like it's not a one size fits all approach. We tailor our resources and their custom fit to the needs of the business owners.
Larry Zilliox:You know, I'm thinking of a friend of mine who has a seasonings business, and I think, like a lot of entrepreneurs, one of their biggest issues is scalability and how they can scale their product up to broaden their sales. A small business is to, you know, lead them in the right direction as to how to get the financing, how to get the investment, how to get the product out there, because I see a lot, of, a lot of small businesses are just sort of stuck at that point where they can't make that leap, and it sounds as though somebody in that position would be perfect for the program. The one thing I'm wondering, though, is that there's no charge for the program. Okay, penfed Foundation absorbs all costs. How many applications do you get?
Rachel Miller:That actually is great we are.
Rachel Miller:We're inundated with applications, which is a wonderful problem to have, but it does make it tough because we want to be able to reach and help as many veterans as we can.
Rachel Miller:But obviously there's you know, there's only so much we can do, which is why, starting in the May cohort of 2025, the Tyson's cohort we are actually beginning what we're calling an auditing program, which is going to be similar to like auditing a college course, and while we won't be they won't attend the auditing cohort members won't attend the in-person seminar, but they will attend the virtual six weeks of virtual sessions and will participate in some capacity there. Now I'll tell you, we are still building out what exactly this program is going to look like, so I don't have all of the answers, but we felt like that would be a really good way for us to expand our reach and make sure that people who apply as long as they have, you know, all the qualifications and they've submitted everything that we need that we can hopefully reach more veterans. We're hoping to reach between 30 and 50 additional veteran founders by the end of 2025, which we are very excited about.
Larry Zilliox:Wow, yeah, that's quite a bit of the change from six to eight.
Rachel Miller:Yes, so we're super excited. So that will be in addition to our three cohorts of six to eight. So just the auditing cohort members, we're hoping to reach at least 30.
Larry Zilliox:And so I'm an entrepreneur, a veteran entrepreneur, and I apply. And you're looking at my application and I'm sure you just almost go blind looking at all these applications. They all probably start to look the same after a little while. But you know, the focus has got to be and I understand completely that there's going to be a lot of people that need help but it also comes down to how can you provide help that's most successful. So you pick me and then what happens? I get invited to a cohort, and how long is it? Where is it? What goes on?
Rachel Miller:Okay, great question. So it's funny that you say that, because, about looking at the applications, I am such a sensitive sucker and so I look at every application. I'm like, yeah, yeah, yes, which is?
Larry Zilliox:why we have a great selection team.
Rachel Miller:They bring different ideas and stuff to the table so that we can make good decisions that will make the most impact, like you said, Because if I had it my way, they'd all be a part of it and I would be able to fund it myself, right? So yeah, so once you are selected, like I said, we do the deep dive, we kind of figure out what your needs are as an entrepreneur, as a veteran founder, and then we will invite you to be one of the three cohorts. So we have you know the Bentonville, Arkansas, is our first cohort, that's March 4th through 6th, or the Tysons, Virginia, May 20th through 22nd, and then the third one, back in Bentonville, August 19th through 21st. So the way that it works is we fly you in. Like you mentioned earlier, we absorb the program costs, so we don't charge founders to participate in the program, we cover their costs of the travel, meals, hotel, all that good stuff, any other program expenses. And the best thing is, we take zero equity in the companies. So like we don't want costs to be a barrier to participation.
Rachel Miller:And I was thinking about this the other day and I thought you know, like the best way of putting it is, we aren't trying to profit off of our veteran entrepreneurs. We are trying to make our veteran entrepreneurs profitable, Sure Right. So they come in and we have a three day in-person seminar, and that seminar, the speakers and the workshops are geared toward those things that we discovered through the deep dive that they need. So it may be anything from you know branding to our president, our foundation president, Andrea McCarran. You know she's got a background in broadcast journalism so she's teaches them how to media pitch and you know she puts a camera in front of their faces and they get to really have that hands-on experience and practice so that when they're having to go do interviews, when they're having to pitch to other people, they have that in their back pocket and they've got that experience. So it's like I said, it's not just this, we're gonna talk at you for three days. We have these world-class speakers and workshops.
Rachel Miller:In fact, our last one I was so blown away we had Gail Becker, who is the founder of Kali Power. None of you ever heard of that. You know the Kali Power, the cauliflower pizza crusts and items. You can find them anywhere. Now she's the founder. She came and spoke to our cohort last year and she knows. I mean, she's been through it from driving around in her car trying to sell pizzas to Whole Foods. She's been there in the trenches day in and day out and she's grown such a fantastic company.
Rachel Miller:And so just having that you know experience there to talk through challenges, to motivate them, and not only that, but it's also such a great networking opportunity. And when I talk to our alumni, that is the first thing they always say. They say that it expands the program, expands their network to mentors, to other veteran entrepreneurs, to investors. So that three days it's just a joy to see, from the time they come in on the first day to that last dinner on the third day of the seminar, the camaraderie that is built. It's like it's unmatched, it's like something I've never seen before and it's really a sight to behold.
Rachel Miller:So it's really very just a great experience, a great growing experience, a great networking experience. It's just a great experience, a great growing experience, a great networking experience. And then, like I said, after that everyone goes home. And then that next week we start our weekly virtual sessions. And that is also when they are paired. Each company founder is paired with an industry expert, mentor, expert mentor, and they work one-on-one with them over the course of six weeks to really create an action plan and then execute that action plan.
Larry Zilliox:Wow. Well, I know it works because I use products from a veteran entrepreneur that went through the program True Made Foods. They make awesome condiments, ketchups, relishes and mustards and that kind of thing and I find them at our local grocery store and they're fantastic. So I know the program works. There's no doubt about it. Why Bentonville, arkansas?
Rachel Miller:So Bentonville, that is actually a great question too. And you know, bentonville is you can't talk about Bentonville without talking about, of course, walmart. Walmart, right, you know, the world's largest retailer. And so I mean Bentonville is just, it is a hub of commerce, innovation, it's just it. It's a really, it's a great place. It's very interesting because you have these industry giants like Walmart, like Tyson Foods, like JV Hunt Transportation that are working alongside of this thriving entrepreneurial ecosystem to create these opportunities for growth.
Rachel Miller:And what's really neat is that Bentonville and Northwest Arkansas in general, when you think of Arkansas, you just don't think about this, but it's. It is wild that this exists in a small little state. What's really neat is that we have the region is always proactive in seeking like ways to grow well. So it's this place of growth and opportunity, but it still somehow maintains its small town charm, and that's by design. You know, it actually was named one of the top 10 places in the country to start a career, and I just found out last week that more people are moving to Arkansas than any other state in the country.
Rachel Miller:I thought it was interesting.
Larry Zilliox:Is it for the jobs around Bentonville or what's drawing them in? I mean, the climate's probably part of it.
Rachel Miller:It doesn't really snow down there that much, but yeah, so actually I think we're supposed to get four inches of snow on Friday. I'm crossing my fingers, since I want to sled in my backyard, but I'm sure you guys are like, no, we're done.
Larry Zilliox:We are done. We got 10 here in the last two days, so Thanks, goodness.
Rachel Miller:Yeah, I think that's it. It's just there's a lot of opportunity here and and just some economic things too. You know, it's a place where you can kind of have the best of both worlds. You, you, you have the opportunity for growth and the like. I said like that, that hub of entrepreneurial activity, but you also still have, like, a good quality of life.
Rachel Miller:Housing isn't, as you know, crazy high as it is in other places, although I feel like that's kind of inching up there. So it's just it's kind of like this perfect little bubble that's what we call it. It's like a bubble and in fact that's what we call it. It's like a bubble and in fact that's why we moved here. We had no other reason other than we just wanted to live here. The quality of life is just really really good.
Rachel Miller:So we, um, my husband and I, we actually we were, like I said, from Shreveport, louisiana, military town, and about 10 years ago, shreveport, louisiana, military town, and about 10 years ago we kind of started. You know, you go on vacation sometimes and you're like I could see myself living there, and then we actually just did it. So we moved about a year and a half ago and, and for no other reason. It wasn't a job, it wasn't family, it was we want to be there. That's where we want to be Taking it back to the program. That is one of the main reasons why we have it here, because, I mean, we have so many experts here in this little condensed area that not only do they have the knowledge and expertise, but they want to help people. They want to help these founders grow their companies, and so it's a wonderful thing to see.
Larry Zilliox:Are there any openings left for 2025? Should veterans continue to apply?
Rachel Miller:Absolutely yes. Our application is open and we are narrowing down for our March cohort right now, but we have still yet to solidify May and August. So there's still plenty of time to apply. And we will, of course, have the application open for the 2026 cohorts as well later on this year, and in fact the goal is to expand the program to include an additional cohort in the future in Tysons and hopefully expand to another geographic location as well.
Larry Zilliox:Well, that's good news because it's a phenomenal program. Well, well, that's good news because it's a phenomenal program and I think the broader the reach, the more it grows, the more veterans will benefit from it. It's just great, and I think you need to let Andrea know that you've come up with a new slogan for 2025. She should be putting it on t-shirts. You know, penfed Foundation Veteran Entrepreneur Program. We don't profit off our veterans. We make our veterans profitable.
Rachel Miller:Thank you. Actually, you know what I should say, because I've always wanted to say this yes, chef, yes chef, I will tell her.
Larry Zilliox:Okay, well, listen, rachel. Thank you so much for joining us. This is great information. Rachel, thank you so much for joining us. This is great information. I'm going to put the webpage on our show notes and we'll get the word out and hopefully you'll have a good number of applications coming forward. Still, I really appreciate you taking the time to join us.
Rachel Miller:Oh no, thank you so much for the opportunity. This has been wonderful and we just appreciate, on behalf of the 10 Fed Foundation, everything you guys are doing. Y'all are doing great work out there and we thank you, and thank you for your service as well.
Larry Zilliox:Well, thank you and for our listeners, if you have any questions or suggestions, you can reach us at podcast at willingwarriorsorg, till next week. Thanks for listening.
