A former Army officer who now trains other veterans on entrepreneurship said skills gained in the military provide them with “a significant advantage in the world of business.”
John Panaccione founded VettoCEO in 2012 with Mike Horn, a soldier who served as an Airborne Ranger Infantryman. The two had been running their own businesses when Panaccione says he had the realization that the Army gave them the foundation to succeed as entrepreneurs.
“It took us each 10 years to realize that our military experience had prepared us well for small business ownership. We both felt it shouldn’t take veterans that long to realize the same thing,” he said.
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VETtoCEO’s current signature event is an online, eight-week Veterans Business Accelerator Program, with more than 9,500 veterans having registered for the program since 2013. Volunteers, who own businesses or are experts in their respective fields – like accounting, legal aid or insurance, contribute to the program as guest speakers and mentors.
“Veterans leave the military with valuable leadership and decision-making abilities,” Panaccione said, “both of which should be considered a significant advantage in the world of business.”
Visit the VettoCEO website for details on participating in the Veterans Business Accelerator Program.
The director of the entrepreneurship and small business portfolio at Syracuse University’s D’Aniello Institute for Veterans and Military Families (IVMF) said many veterans choose small business ownership after military transition because “they want to continue a life of service,” Misty Stutsman Fox said.
IVMF offerings are accessed by about 23,000 individuals a year, and to date, more than 200,000 transitioning service members, veterans and military family members have participated.
“We have a program that can meet a military-connected entrepreneur where they’re at in their journey,” Fox says, “and they’re all free.”
The IVMF Entrepreneurship Portfolio has resources for every stage of business ownership, from ideation to the startup phase to growth.
“Military service is the No. 1 indicator of success as an entrepreneur,” she said. “It’s more important than education or being raised wealthy. Military entrepreneurs are typically more successful and pay better than their civilian counterparts.”
