February 3, 2025 • 24 mins
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.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Larry Zilliox (00:00):
Good morning.
I'm Larry Zilliox, Director ofCulinary Services here at the
Warrior Retreat at Bull Run, andthis week our guest is Rachel
Miller.
She's a program manager withthe PenFed Foundation Veteran
Entrepreneur Program, and thisis a program that's been around
for a little bit.
(00:20):
We're familiar with it at theWarrior Retreat because we've
hosted some of their little bit.
We're familiar with it at theWarrior Retreat because we've
hosted some of their programsthere.
Just for clear disclosure, thePenFed Foundation is the largest
donor to the Warrior Retreat atBull Run and we're very
grateful for that and havingthem as a partner and having
them come alongside us manyyears ago and help build two
(00:45):
additional houses on theproperty.
Today, we're going to betalking about the Veteran
Entrepreneur Program.
It's really a great program andnot many veterans know that
much about it and that it's evenout there.
So we're going to fix that andRachel's going to help us with
that.
So, rachel, welcome to thepodcast.
Rachel Miller (01:04):
Thank you so much , larry.
I just first wanted to say it'san honor chatting with you.
The foundation, penfedFoundation, just really respects
what you guys are doing out.
There Was amazing havingfirsthand, getting firsthand
knowledge of just how excellenta chef you got, you are, and
(01:25):
your team and you guys run anexcellent program.
I haven't stopped thinkingabout we had, you know, the
opportunity to come out inDecember for dinner and that it
was one of the best meals, ifnot the best meal, I've ever had
in my life.
So can't stop thinking aboutthat.
Short rib and the soup wasamazing, I mean, it was all just
(01:49):
wonderful.
So thank you so much for thatand for having me on.
I appreciate it.
Larry Zilliox (01:55):
Well, we sure did enjoy having the PenFed board
out and Chef Fritz, as a veteranchef and just an amazing chef
and one of our volunteer chefsin our visiting chef program and
just to get everybody out thereto help with that dinner was
really wonderful.
We had a great time doing ittoo.
(02:15):
So tell us a little bit aboutyour background and how you got
involved with the VeteranEntrepreneur Program.
Rachel Miller (02:24):
Right, well, yeah , so I am actually, I think,
like a lot of us, we start outwe think we're going to do one
thing and then we change a lotand go through a lot of
different I guess versions ofourselves before we figure out
what it is exactly we wanted todo.
I actually started out inbanking, of all things things
part-time job in college, youknow, as a bank teller and
(02:47):
quickly moved into sales andthought I'd kind of go that
route and moved into like thetrack to become like a branch
manager and stuff like that andreally kind of felt like you
know, this is great and I canmake a career out of this.
But I really just had this urgeto somehow want to make an
(03:09):
impact and so I started lookinginto nonprofit.
I went to work for a couple ofnational organizations pretty
well-known organizations andduring that time still felt like
I was making a difference and Ithought, you know, I'm making a
living and making an impact,had young, young kids at the
house at the time and had theopportunity to become a teacher,
(03:32):
so actually completely shiftedinto education.
And then I was a teacher for 14years and as my kids got older
and I started, you know, kind ofthinking, well, I don't really
need to be on their scheduleanymore.
I kind of started getting thisurge to do something different
(03:52):
and I knew that, no matter whatI did, it needed to be in that
same sense making a living whilemaking a change in people's
lives and making an impact.
I guess over the summer Ireceived a I get this, you know
daily newsletter from NorthwestArkansas called NWA Daily, and
(04:14):
the Penn Fed Foundation VeteranEntrepreneur Program had a
little piece in that newsletterand I thought, wow, this is
amazing, you know, and I justthought this was cool.
I love that they're doing thisfor veterans.
I come from a family ofveterans, I'm from a military
town.
I just thought, like they youknow, you guys do so much and
(04:36):
what a way to give back.
And really didn't.
It wasn't a job hosting, it wasjust about the program.
I thought this is cool jobhosting.
It was just about the program.
I thought this is cool.
Well, happened to be on LinkedIna couple of weeks later and and
I saw the the job posting forthe veteran entrepreneur program
and I was like wait, this isthat thing.
I saw in my email.
I said I've got to apply for itLike this is where I want to be
(04:58):
.
Thankfully it has.
It has just turned out to bereally 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 dayasking ourselves like how can we
help a veteran today?
And it's just really amazing tobe a part of.
Larry Zilliox (05:20):
So the program itself helps veterans develop
businesses, their own businesses.
Tell us a little bit so thatability to grow and scale their
companies and we have anapplication process.
Rachel Miller (05:51):
It starts with filling out an application on
our website, which ispinfedfoundationorg, and we go
through an interview process andthen select between six and
eight companies to be part ofone of our cohorts.
We're actually we've had twolast year here in Bentonville,
(06:15):
arkansas, which is where I'mbased, but we had, we're
actually expanding back toTyson's this year, in 2025, and
we'll have a cohort there in Mayas well.
Larry Zilliox (06:28):
So that'll be a total of three in 2025, and each
one is a little bit eight to 10people.
Veterans.
Rachel Miller (06:39):
Usually about six to eight.
Larry Zilliox (06:40):
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 thoughthey need to have an existing
business, that they're justhaving trouble making the leap
to grow it.
Is that a fair assessment?
Rachel Miller (07:01):
Well, I mean, I think all startups have, you
know, their challenges.
So we're not going to have youknow, even I say startups, all
companies have their challenges.
So, yeah, have an existingbusiness in that you know
startup stage, that early stage,where they're either just about
(07:21):
ready for investment or they'regetting 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 aone-on-one deep dive with each
of the founders.
(07:42):
Because, you know, sometimes wethink and this is something we
ask in the initial interviewlike what are your, what are
your pain points?
Like what are your challengesthat you think you're facing?
But he does a really good job ofshowing them.
Hey, you think this is thebigger problem, but actually,
like, let's focus on this,because if we focus on this
(08:03):
thing, it will take care of therest.
So he's just a wealth ofinformation, such an asset to
our team.
And then what we do with thatis he kind of comes up with hey,
here's what we need to focus onwith this company or that
company, and then we tailor thatour in-person the three-day
(08:24):
in-person seminar to fit thefounder's needs.
So it's it's like it's not aone size fits all approach.
We tailor our resources andtheir custom fit to the needs of
the business owners.
Larry Zilliox (08:38):
You know, I'm thinking of a friend of mine who
has a seasonings business, andI think, like a lot of
entrepreneurs, one of theirbiggest issues is scalability
and how they can scale theirproduct up to broaden their
sales.
(09:00):
A small business is to, youknow, lead them in the right
direction as to how to get thefinancing, how to get the
investment, how to get theproduct out there, because I see
a lot, of, a lot of smallbusinesses are just sort of
stuck at that point where theycan't make that leap, and it
(09:22):
sounds as though somebody inthat 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 absorbsall costs.
How many applications do youget?
Rachel Miller (09:39):
That actually is great we are.
We're inundated withapplications, which is a
wonderful problem to have, butit does make it tough because we
want to be able to reach andhelp as many veterans as we can.
But obviously there's you know,there's only so much we can do,
which is why, starting in theMay cohort of 2025, the Tyson's
(10:04):
cohort we are actually beginningwhat we're calling an auditing
program, which is going to besimilar to like auditing a
college course, and while wewon't be they won't attend the
auditing cohort members won'tattend the in-person seminar,
but they will attend the virtualsix weeks of virtual sessions
(10:29):
and will participate in somecapacity there.
Now I'll tell you, we are stillbuilding out what exactly this
program is going to look like,so I don't have all of the
answers, but we felt like thatwould be a really good way for
us to expand our reach and makesure that people who apply as
long as they have, you know, allthe qualifications and they've
(10:51):
submitted everything that weneed that we can hopefully reach
more veterans.
We're hoping to reach between30 and 50 additional veteran
founders by the end of 2025,which we are very excited about.
Larry Zilliox (11:05):
Wow, yeah, that's quite a bit of the change from
six to eight.
Rachel Miller (11:10):
Yes, so we're super excited.
So that will be in addition toour three cohorts of six to
eight.
So just the auditing cohortmembers, we're hoping to reach
at least 30.
Larry Zilliox (11:24):
And so I'm an entrepreneur, a veteran
entrepreneur, and I apply.
And you're looking at myapplication and I'm sure you
just almost go blind looking atall these applications.
They all probably start to lookthe same after a little while.
But you know, the focus has gotto be and I understand
(11:46):
completely that there's going tobe a lot of people that need
help but it also comes down tohow can you provide help that's
most successful.
So you pick me and then whathappens?
I get invited to a cohort, andhow long is it?
(12:07):
Where is it?
What goes on?
Rachel Miller (12:10):
Okay, great question.
So it's funny that you say that, because, about looking at the
applications, I am such asensitive sucker and so I look
at every application.
I'm like, yeah, yeah, yes,which is?
Larry Zilliox (12:29):
why we have a great selection team.
Rachel Miller (12:30):
They bring different ideas and stuff to the
table so that we can make gooddecisions 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 Iwould be able to fund it myself
, right?
So yeah, so once you areselected, like I said, we do the
deep dive, we kind of figureout what your needs are as an
(12:53):
entrepreneur, as a veteranfounder, and then we will invite
you to be one of the threecohorts.
So we have you know theBentonville, Arkansas, is our
first cohort, that's March 4ththrough 6th, or the Tysons,
Virginia, May 20th through 22nd,and then the third one, back in
Bentonville, August 19ththrough 21st.
(13:15):
So the way that it works is wefly you in.
Like you mentioned earlier, weabsorb the program costs, so we
don't charge founders toparticipate in the program, we
cover their costs of the travel,meals, hotel, all that good
stuff, any other programexpenses.
And the best thing is, we takezero equity in the companies.
(13:39):
So like we don't want costs tobe a barrier to participation.
And I was thinking about thisthe other day and I thought you
know, like the best way ofputting it is, we aren't trying
to profit off of our veteranentrepreneurs.
We are trying to make ourveteran entrepreneurs profitable
, Sure Right.
So they come in and we have athree day in-person seminar, and
(14:02):
that seminar, the speakers andthe workshops are geared toward
those things that we discoveredthrough the deep dive that they
need.
So it may be anything from youknow branding to our president,
our foundation president, AndreaMcCarran.
(14:23):
You know she's got a backgroundin broadcast journalism so
she's teaches them how to mediapitch and you know she puts a
camera in front of their facesand they get to really have that
hands-on experience andpractice so that when they're
having to go do interviews, whenthey're having to pitch to
(14:45):
other people, they have that intheir back pocket and they've
got that experience.
So it's like I said, it's notjust this, we're gonna talk at
you for three days.
We have these world-classspeakers and workshops.
In fact, our last one I was soblown away we had Gail Becker,
who is the founder of Kali Power.
(15:05):
None of you ever heard of that.
You know the Kali Power, thecauliflower pizza crusts and
items.
You can find them anywhere.
Now she's the founder.
She came and spoke to ourcohort last year and she knows.
I mean, she's been through itfrom driving around in her car
trying to sell pizzas to WholeFoods.
(15:28):
She's been there in thetrenches day in and day out and
she's grown such a fantasticcompany.
And so just having that you knowexperience there to talk
through challenges, to motivatethem, and not only that, but
it's also such a greatnetworking opportunity.
(15:48):
And when I talk to our alumni,that is the first thing they
always say.
They say that it expands theprogram, expands their network
to mentors, to other veteranentrepreneurs, to investors.
So that three days it's just ajoy to see, from the time they
(16:11):
come in on the first day to thatlast dinner on the third day of
the seminar, the camaraderiethat is built.
It's like it's unmatched, it'slike something I've never seen
before and it's really a sightto behold.
So it's really very just a greatexperience, a great growing
experience, a great networkingexperience.
(16:32):
It's just a great experience, agreat growing experience, a
great networking experience.
And then, like I said, afterthat everyone goes home.
And then that next week westart our weekly virtual
sessions.
And that is also when they arepaired.
Each company founder is pairedwith an industry expert, mentor,
expert mentor, and they workone-on-one with them over the
(16:56):
course of six weeks to reallycreate an action plan and then
execute that action plan.
Larry Zilliox (16:59):
Wow.
Well, I know it works because Iuse products from a veteran
entrepreneur that went throughthe program True Made Foods.
They make awesome condiments,ketchups, relishes and mustards
and that kind of thing and Ifind them at our local grocery
store and they're fantastic.
(17:20):
So I know the program works.
There's no doubt about it.
Why Bentonville, arkansas?
Rachel Miller (17:28):
So Bentonville, that is actually a great
question too.
And you know, bentonville isyou can't talk about Bentonville
without talking about, ofcourse, walmart.
Walmart, right, you know, theworld's largest retailer.
And so I mean Bentonville isjust, it is a hub of commerce,
(17:51):
innovation, it's just it.
It's a really, it's a greatplace.
It's very interesting becauseyou have these industry giants
like Walmart, like Tyson Foods,like JV Hunt Transportation that
are working alongside of thisthriving entrepreneurial
(18:11):
ecosystem to create theseopportunities for growth.
And what's really neat is thatBentonville and Northwest
Arkansas in general, when youthink of Arkansas, you just
don't think about this, but it's.
It is wild that this exists ina small little state.
What's really neat is that wehave the region is always
(18:35):
proactive in seeking like waysto grow well.
So it's this place of growthand opportunity, but it still
somehow maintains its small towncharm, and that's by design.
You know, it actually was namedone of the top 10 places in the
country to start a career, andI just found out last week that
(18:57):
more people are moving toArkansas than any other state in
the country.
I thought it was interesting.
Larry Zilliox (19:03):
Is it for the jobs around Bentonville or
what's drawing them in?
I mean, the climate's probablypart of it.
Rachel Miller (19:10):
It doesn't really snow down there that much, but
yeah, so actually I think we'resupposed to get four inches of
snow on Friday.
I'm crossing my fingers, sinceI want to sled in my backyard,
but I'm sure you guys are like,no, we're done.
Larry Zilliox (19:25):
We are done.
We got 10 here in the last twodays, so Thanks, goodness.
Rachel Miller (19:31):
Yeah, I think that's it.
It's just there's a lot ofopportunity here and and just
some economic things too.
You know, it's a place whereyou can kind of have the best of
both worlds.
You, you, you have theopportunity for growth and the
like.
I said like that, that hub ofentrepreneurial activity, but
(19:53):
you also still have, like, agood quality of life.
Housing isn't, as you know,crazy high as it is in other
places, although I feel likethat's kind of inching up there.
So it's just it's kind of likethis perfect little bubble
that's what we call it.
It's like a bubble and in factthat's what we call it.
It's like a bubble and in factthat's why we moved here.
(20:14):
We had no other reason otherthan we just wanted to live here
.
The quality of life is justreally really good.
So we, um, my husband and I, weactually we were, like I said,
from Shreveport, louisiana,military town, and about 10
years ago, shreveport, louisiana, military town, and about 10
(20:35):
years ago we kind of started.
You know, you go on vacationsometimes and you're like I
could see myself living there,and then we actually just did it
.
So we moved about a year and ahalf ago and, and for no other
reason.
It wasn't a job, it wasn'tfamily, it was we want to be
there.
That's where we want to beTaking it back to the program.
That is one of the main reasonswhy we have it here, because, I
(20:58):
mean, we have so many expertshere in this little condensed
area that not only do they havethe knowledge and expertise, but
they want to help people.
They want to help thesefounders grow their companies,
and so it's a wonderful thing tosee.
Larry Zilliox (21:20):
Are there any openings left for 2025?
Should veterans continue toapply?
Rachel Miller (21:27):
Absolutely yes.
Our application is open and weare narrowing down for our March
cohort right now, but we havestill yet to solidify May and
August.
So there's still plenty of timeto apply.
And we will, of course, havethe application open for the
(21:49):
2026 cohorts as well later onthis year, and in fact the goal
is to expand the program toinclude an additional cohort in
the future in Tysons andhopefully expand to another
geographic location as well.
Larry Zilliox (22:09):
Well, that's good news because it's a phenomenal
program.
Well, well, that's good newsbecause it's a phenomenal
program and I think the broaderthe reach, the more it grows,
the more veterans will benefitfrom it.
It's just great, and I thinkyou need to let Andrea know that
you've come up with a newslogan for 2025.
She should be putting it ont-shirts.
(22:29):
You know, penfed FoundationVeteran Entrepreneur Program.
We don't profit off ourveterans.
We make our veterans profitable.
Rachel Miller (22:38):
Thank you.
Actually, you know what Ishould say, because I've always
wanted to say this yes, chef,yes chef, I will tell her.
Larry Zilliox (22:45):
Okay, well, listen, rachel.
Thank you so much for joiningus.
This is great information.
Rachel, thank you so much forjoining us.
This is great information.
I'm going to put the webpage onour show notes and we'll get
the word out and hopefullyyou'll have a good number of
applications coming forward.
(23:06):
Still, I really appreciate youtaking the time to join us.
Rachel Miller (23:09):
Oh no, thank you so much for the opportunity.
This has been wonderful and wejust appreciate, on behalf of
the 10 Fed Foundation,everything you guys are doing.
Y'all are doing great work outthere and we thank you, and
thank you for your service aswell.
Larry Zilliox (23:26):
Well, thank you and for our listeners, if you
have any questions orsuggestions, you can reach us at
podcast at willingwarriorsorg,till next week.
Thanks for listening.
Good morning.
I'm Larry Zilliox, Director ofCulinary Services here at the
Warrior Retreat at Bull Run, andthis week our guest is Rachel
Miller.
She's a program manager withthe PenFed Foundation Veteran
Entrepreneur Program, and thisis a program that's been around
for a little bit.
(00:20):
We're familiar with it at theWarrior Retreat because we've
hosted some of their little bit.
We're familiar with it at theWarrior Retreat because we've
hosted some of their programsthere.
Just for clear disclosure, thePenFed Foundation is the largest
donor to the Warrior Retreat atBull Run and we're very
grateful for that and havingthem as a partner and having
them come alongside us manyyears ago and help build two
(00:45):
additional houses on theproperty.
Today, we're going to betalking about the Veteran
Entrepreneur Program.
It's really a great program andnot many veterans know that
much about it and that it's evenout there.
So we're going to fix that andRachel's going to help us with
that.
So, rachel, welcome to thepodcast.
Rachel Miller (01:04):
Thank you so much , larry.
I just first wanted to say it'san honor chatting with you.
The foundation, penfedFoundation, just really respects
what you guys are doing out.
There Was amazing havingfirsthand, getting firsthand
knowledge of just how excellenta chef you got, you are, and
(01:25):
your team and you guys run anexcellent program.
I haven't stopped thinkingabout we had, you know, the
opportunity to come out inDecember for dinner and that it
was one of the best meals, ifnot the best meal, I've ever had
in my life.
So can't stop thinking aboutthat.
Short rib and the soup wasamazing, I mean, it was all just
(01:49):
wonderful.
So thank you so much for thatand for having me on.
I appreciate it.
Larry Zilliox (01:55):
Well, we sure did enjoy having the PenFed board
out and Chef Fritz, as a veteranchef and just an amazing chef
and one of our volunteer chefsin our visiting chef program and
just to get everybody out thereto help with that dinner was
really wonderful.
We had a great time doing ittoo.
(02:15):
So tell us a little bit aboutyour background and how you got
involved with the VeteranEntrepreneur Program.
Rachel Miller (02:24):
Right, well, yeah , so I am actually, I think,
like a lot of us, we start outwe think we're going to do one
thing and then we change a lotand go through a lot of
different I guess versions ofourselves before we figure out
what it is exactly we wanted todo.
I actually started out inbanking, of all things things
part-time job in college, youknow, as a bank teller and
(02:47):
quickly moved into sales andthought I'd kind of go that
route and moved into like thetrack to become like a branch
manager and stuff like that andreally kind of felt like you
know, this is great and I canmake a career out of this.
But I really just had this urgeto somehow want to make an
(03:09):
impact and so I started lookinginto nonprofit.
I went to work for a couple ofnational organizations pretty
well-known organizations andduring that time still felt like
I was making a difference and Ithought, you know, I'm making a
living and making an impact,had young, young kids at the
house at the time and had theopportunity to become a teacher,
(03:32):
so actually completely shiftedinto education.
And then I was a teacher for 14years and as my kids got older
and I started, you know, kind ofthinking, well, I don't really
need to be on their scheduleanymore.
I kind of started getting thisurge to do something different
(03:52):
and I knew that, no matter whatI did, it needed to be in that
same sense making a living whilemaking a change in people's
lives and making an impact.
I guess over the summer Ireceived a I get this, you know
daily newsletter from NorthwestArkansas called NWA Daily, and
(04:14):
the Penn Fed Foundation VeteranEntrepreneur Program had a
little piece in that newsletterand I thought, wow, this is
amazing, you know, and I justthought this was cool.
I love that they're doing thisfor veterans.
I come from a family ofveterans, I'm from a military
town.
I just thought, like they youknow, you guys do so much and
(04:36):
what a way to give back.
And really didn't.
It wasn't a job hosting, it wasjust about the program.
I thought this is cool jobhosting.
It was just about the program.
I thought this is cool.
Well, happened to be on LinkedIna couple of weeks later and and
I saw the the job posting forthe veteran entrepreneur program
and I was like wait, this isthat thing.
I saw in my email.
I said I've got to apply for itLike this is where I want to be
(04:58):
.
Thankfully it has.
It has just turned out to bereally 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 dayasking ourselves like how can we
help a veteran today?
And it's just really amazing tobe a part of.
Larry Zilliox (05:20):
So the program itself helps veterans develop
businesses, their own businesses.
Tell us a little bit so thatability to grow and scale their
companies and we have anapplication process.
Rachel Miller (05:51):
It starts with filling out an application on
our website, which ispinfedfoundationorg, and we go
through an interview process andthen select between six and
eight companies to be part ofone of our cohorts.
We're actually we've had twolast year here in Bentonville,
(06:15):
arkansas, which is where I'mbased, but we had, we're
actually expanding back toTyson's this year, in 2025, and
we'll have a cohort there in Mayas well.
Larry Zilliox (06:28):
So that'll be a total of three in 2025, and each
one is a little bit eight to 10people.
Veterans.
Rachel Miller (06:39):
Usually about six to eight.
Larry Zilliox (06:40):
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 thoughthey need to have an existing
business, that they're justhaving trouble making the leap
to grow it.
Is that a fair assessment?
Rachel Miller (07:01):
Well, I mean, I think all startups have, you
know, their challenges.
So we're not going to have youknow, even I say startups, all
companies have their challenges.
So, yeah, have an existingbusiness in that you know
startup stage, that early stage,where they're either just about
(07:21):
ready for investment or they'regetting 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 aone-on-one deep dive with each
of the founders.
(07:42):
Because, you know, sometimes wethink and this is something we
ask in the initial interviewlike what are your, what are
your pain points?
Like what are your challengesthat you think you're facing?
But he does a really good job ofshowing them.
Hey, you think this is thebigger problem, but actually,
like, let's focus on this,because if we focus on this
(08:03):
thing, it will take care of therest.
So he's just a wealth ofinformation, such an asset to
our team.
And then what we do with thatis he kind of comes up with hey,
here's what we need to focus onwith this company or that
company, and then we tailor thatour in-person the three-day
(08:24):
in-person seminar to fit thefounder's needs.
So it's it's like it's not aone size fits all approach.
We tailor our resources andtheir custom fit to the needs of
the business owners.
Larry Zilliox (08:38):
You know, I'm thinking of a friend of mine who
has a seasonings business, andI think, like a lot of
entrepreneurs, one of theirbiggest issues is scalability
and how they can scale theirproduct up to broaden their
sales.
(09:00):
A small business is to, youknow, lead them in the right
direction as to how to get thefinancing, how to get the
investment, how to get theproduct out there, because I see
a lot, of, a lot of smallbusinesses are just sort of
stuck at that point where theycan't make that leap, and it
(09:22):
sounds as though somebody inthat 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 absorbsall costs.
How many applications do youget?
Rachel Miller (09:39):
That actually is great we are.
We're inundated withapplications, which is a
wonderful problem to have, butit does make it tough because we
want to be able to reach andhelp as many veterans as we can.
But obviously there's you know,there's only so much we can do,
which is why, starting in theMay cohort of 2025, the Tyson's
(10:04):
cohort we are actually beginningwhat we're calling an auditing
program, which is going to besimilar to like auditing a
college course, and while wewon't be they won't attend the
auditing cohort members won'tattend the in-person seminar,
but they will attend the virtualsix weeks of virtual sessions
(10:29):
and will participate in somecapacity there.
Now I'll tell you, we are stillbuilding out what exactly this
program is going to look like,so I don't have all of the
answers, but we felt like thatwould be a really good way for
us to expand our reach and makesure that people who apply as
long as they have, you know, allthe qualifications and they've
(10:51):
submitted everything that weneed that we can hopefully reach
more veterans.
We're hoping to reach between30 and 50 additional veteran
founders by the end of 2025,which we are very excited about.
Larry Zilliox (11:05):
Wow, yeah, that's quite a bit of the change from
six to eight.
Rachel Miller (11:10):
Yes, so we're super excited.
So that will be in addition toour three cohorts of six to
eight.
So just the auditing cohortmembers, we're hoping to reach
at least 30.
Larry Zilliox (11:24):
And so I'm an entrepreneur, a veteran
entrepreneur, and I apply.
And you're looking at myapplication and I'm sure you
just almost go blind looking atall these applications.
They all probably start to lookthe same after a little while.
But you know, the focus has gotto be and I understand
(11:46):
completely that there's going tobe a lot of people that need
help but it also comes down tohow can you provide help that's
most successful.
So you pick me and then whathappens?
I get invited to a cohort, andhow long is it?
(12:07):
Where is it?
What goes on?
Rachel Miller (12:10):
Okay, great question.
So it's funny that you say that, because, about looking at the
applications, I am such asensitive sucker and so I look
at every application.
I'm like, yeah, yeah, yes,which is?
Larry Zilliox (12:29):
why we have a great selection team.
Rachel Miller (12:30):
They bring different ideas and stuff to the
table so that we can make gooddecisions 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 Iwould be able to fund it myself
, right?
So yeah, so once you areselected, like I said, we do the
deep dive, we kind of figureout what your needs are as an
(12:53):
entrepreneur, as a veteranfounder, and then we will invite
you to be one of the threecohorts.
So we have you know theBentonville, Arkansas, is our
first cohort, that's March 4ththrough 6th, or the Tysons,
Virginia, May 20th through 22nd,and then the third one, back in
Bentonville, August 19ththrough 21st.
(13:15):
So the way that it works is wefly you in.
Like you mentioned earlier, weabsorb the program costs, so we
don't charge founders toparticipate in the program, we
cover their costs of the travel,meals, hotel, all that good
stuff, any other programexpenses.
And the best thing is, we takezero equity in the companies.
(13:39):
So like we don't want costs tobe a barrier to participation.
And I was thinking about thisthe other day and I thought you
know, like the best way ofputting it is, we aren't trying
to profit off of our veteranentrepreneurs.
We are trying to make ourveteran entrepreneurs profitable
, Sure Right.
So they come in and we have athree day in-person seminar, and
(14:02):
that seminar, the speakers andthe workshops are geared toward
those things that we discoveredthrough the deep dive that they
need.
So it may be anything from youknow branding to our president,
our foundation president, AndreaMcCarran.
(14:23):
You know she's got a backgroundin broadcast journalism so
she's teaches them how to mediapitch and you know she puts a
camera in front of their facesand they get to really have that
hands-on experience andpractice so that when they're
having to go do interviews, whenthey're having to pitch to
(14:45):
other people, they have that intheir back pocket and they've
got that experience.
So it's like I said, it's notjust this, we're gonna talk at
you for three days.
We have these world-classspeakers and workshops.
In fact, our last one I was soblown away we had Gail Becker,
who is the founder of Kali Power.
(15:05):
None of you ever heard of that.
You know the Kali Power, thecauliflower pizza crusts and
items.
You can find them anywhere.
Now she's the founder.
She came and spoke to ourcohort last year and she knows.
I mean, she's been through itfrom driving around in her car
trying to sell pizzas to WholeFoods.
(15:28):
She's been there in thetrenches day in and day out and
she's grown such a fantasticcompany.
And so just having that you knowexperience there to talk
through challenges, to motivatethem, and not only that, but
it's also such a greatnetworking opportunity.
(15:48):
And when I talk to our alumni,that is the first thing they
always say.
They say that it expands theprogram, expands their network
to mentors, to other veteranentrepreneurs, to investors.
So that three days it's just ajoy to see, from the time they
(16:11):
come in on the first day to thatlast dinner on the third day of
the seminar, the camaraderiethat is built.
It's like it's unmatched, it'slike something I've never seen
before and it's really a sightto behold.
So it's really very just a greatexperience, a great growing
experience, a great networkingexperience.
(16:32):
It's just a great experience, agreat growing experience, a
great networking experience.
And then, like I said, afterthat everyone goes home.
And then that next week westart our weekly virtual
sessions.
And that is also when they arepaired.
Each company founder is pairedwith an industry expert, mentor,
expert mentor, and they workone-on-one with them over the
(16:56):
course of six weeks to reallycreate an action plan and then
execute that action plan.
Larry Zilliox (16:59):
Wow.
Well, I know it works because Iuse products from a veteran
entrepreneur that went throughthe program True Made Foods.
They make awesome condiments,ketchups, relishes and mustards
and that kind of thing and Ifind them at our local grocery
store and they're fantastic.
(17:20):
So I know the program works.
There's no doubt about it.
Why Bentonville, arkansas?
Rachel Miller (17:28):
So Bentonville, that is actually a great
question too.
And you know, bentonville isyou can't talk about Bentonville
without talking about, ofcourse, walmart.
Walmart, right, you know, theworld's largest retailer.
And so I mean Bentonville isjust, it is a hub of commerce,
(17:51):
innovation, it's just it.
It's a really, it's a greatplace.
It's very interesting becauseyou have these industry giants
like Walmart, like Tyson Foods,like JV Hunt Transportation that
are working alongside of thisthriving entrepreneurial
(18:11):
ecosystem to create theseopportunities for growth.
And what's really neat is thatBentonville and Northwest
Arkansas in general, when youthink of Arkansas, you just
don't think about this, but it's.
It is wild that this exists ina small little state.
What's really neat is that wehave the region is always
(18:35):
proactive in seeking like waysto grow well.
So it's this place of growthand opportunity, but it still
somehow maintains its small towncharm, and that's by design.
You know, it actually was namedone of the top 10 places in the
country to start a career, andI just found out last week that
(18:57):
more people are moving toArkansas than any other state in
the country.
I thought it was interesting.
Larry Zilliox (19:03):
Is it for the jobs around Bentonville or
what's drawing them in?
I mean, the climate's probablypart of it.
Rachel Miller (19:10):
It doesn't really snow down there that much, but
yeah, so actually I think we'resupposed to get four inches of
snow on Friday.
I'm crossing my fingers, sinceI want to sled in my backyard,
but I'm sure you guys are like,no, we're done.
Larry Zilliox (19:25):
We are done.
We got 10 here in the last twodays, so Thanks, goodness.
Rachel Miller (19:31):
Yeah, I think that's it.
It's just there's a lot ofopportunity here and and just
some economic things too.
You know, it's a place whereyou can kind of have the best of
both worlds.
You, you, you have theopportunity for growth and the
like.
I said like that, that hub ofentrepreneurial activity, but
(19:53):
you also still have, like, agood quality of life.
Housing isn't, as you know,crazy high as it is in other
places, although I feel likethat's kind of inching up there.
So it's just it's kind of likethis perfect little bubble
that's what we call it.
It's like a bubble and in factthat's what we call it.
It's like a bubble and in factthat's why we moved here.
(20:14):
We had no other reason otherthan we just wanted to live here
.
The quality of life is justreally really good.
So we, um, my husband and I, weactually we were, like I said,
from Shreveport, louisiana,military town, and about 10
years ago, shreveport, louisiana, military town, and about 10
(20:35):
years ago we kind of started.
You know, you go on vacationsometimes and you're like I
could see myself living there,and then we actually just did it
.
So we moved about a year and ahalf ago and, and for no other
reason.
It wasn't a job, it wasn'tfamily, it was we want to be
there.
That's where we want to beTaking it back to the program.
That is one of the main reasonswhy we have it here, because, I
(20:58):
mean, we have so many expertshere in this little condensed
area that not only do they havethe knowledge and expertise, but
they want to help people.
They want to help thesefounders grow their companies,
and so it's a wonderful thing tosee.
Larry Zilliox (21:20):
Are there any openings left for 2025?
Should veterans continue toapply?
Rachel Miller (21:27):
Absolutely yes.
Our application is open and weare narrowing down for our March
cohort right now, but we havestill yet to solidify May and
August.
So there's still plenty of timeto apply.
And we will, of course, havethe application open for the
(21:49):
2026 cohorts as well later onthis year, and in fact the goal
is to expand the program toinclude an additional cohort in
the future in Tysons andhopefully expand to another
geographic location as well.
Larry Zilliox (22:09):
Well, that's good news because it's a phenomenal
program.
Well, well, that's good newsbecause it's a phenomenal
program and I think the broaderthe reach, the more it grows,
the more veterans will benefitfrom it.
It's just great, and I thinkyou need to let Andrea know that
you've come up with a newslogan for 2025.
She should be putting it ont-shirts.
(22:29):
You know, penfed FoundationVeteran Entrepreneur Program.
We don't profit off ourveterans.
We make our veterans profitable.
Rachel Miller (22:38):
Thank you.
Actually, you know what Ishould say, because I've always
wanted to say this yes, chef,yes chef, I will tell her.
Larry Zilliox (22:45):
Okay, well, listen, rachel.
Thank you so much for joiningus.
This is great information.
Rachel, thank you so much forjoining us.
This is great information.
I'm going to put the webpage onour show notes and we'll get
the word out and hopefullyyou'll have a good number of
applications coming forward.
(23:06):
Still, I really appreciate youtaking the time to join us.
Rachel Miller (23:09):
Oh no, thank you so much for the opportunity.
This has been wonderful and wejust appreciate, on behalf of
the 10 Fed Foundation,everything you guys are doing.
Y'all are doing great work outthere and we thank you, and
thank you for your service aswell.
Larry Zilliox (23:26):
Well, thank you and for our listeners, if you
have any questions orsuggestions, you can reach us at
podcast at willingwarriorsorg,till next week.
Thanks for listening.
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