In This Issue:
- Message from Managing Director, Noah Harris
- Networking Event at Spice Monkey
- Veteran Company Spotlight: Noble Brewer
- More Than Just Competitive Financing
- Strengthening Our Advisory Board with New Members
The response to Veteran Launch over the past few months has been solidly encouraging.
We are now talking daily with veteran business owners throughout California about financing and the different types of direct assistance we can provide them. In just the past few weeks, we have closed loans with five more veteran-owned businesses.
As an U.S. Army EOD bomb technician, I learned to look at every situation with a fresh perspective, and we practice that approach here at Veteran Launch. Just in the last month, we have adjusted the direct assistance that our team is providing to our veteran business clients, resulting in increased revenue, reduced costs, and many operational and time-saving efficiencies. Through this process, we continue to realize that reevaluating our clients’ needs and evolving our support to meet those needs is critically important.
Since last month we’ve added new advisory board members Marine Corps veteran Jim Wong and Navy veteran Bob Leet. The community response has been humbling to all of us veterans working at Veteran Launch.
Thank you for your support and for continuing to help us spread the word to veteran business owners in your network.
Managing Director, Veteran Launch
Networking Event at Spice Monkey
Meet Our Clients: Noble Brewer
The idea for Noble Brewer began in September 2013 after Claude Burns and a Navy buddy discussed creating a homebrewing competition. The winner of the competition would have their beer produced professionally and all the entrants would receive a case of the winning beer. The idea sparked an interest in the beer industry and how to enhance the relationship between the makers and craft beer fans. Now, Noble Brewer is the world’s first online beer club to feature homebrewers.
More Than Just Competitive Business Financing
Veteran Launch knows that loans coupled with direct assistance and business advising is what truly improves the financial position of veteran-owned small businesses. A Gallup poll found over 50% of small businesses fail because of a lack of capital and understanding of their business financials. Through the Veteran Launch process, our clients have access to loans up to $250,000, as well as personalized advising for the life of the loan.
Veteran Launch‘s business advising is led by Navy veteran Yulee Newsome, who provides direct assistance with the goals of increasing revenue, cutting expenses, and saving time. “We start by identifying the burning problem for that particular business. This gets the veteran interested right away and allows them to see an immediate impact by solving a real issue,” says Yulee. “From there we can methodically work our way across revenue, expenses, and operational efficiencies to create a lasting impact for the business and lay the foundation for a great, long-term relationship.”
Revenue assistance with Veteran Launch looks to find low- and no-cost ways to increase revenue in the veteran-owned business. Recently, Yulee researched food delivery services for restaurants, finding that Eat24 by Yelp offers significant impacts for revenues. Similar businesses across our portfolio, in this case restaurants and cafes, can benefit from best practices and revenue opportunities like this.
Veteran Launch seeks to find ways to cut costs for the veteran business and identify services that they may be able to get for free. We recently connected with Legal Services for Entrepreneurs, a non-profit organization of business lawyers providing free assistance to veteran entrepreneurs. Beyond saving fees, working with LSE provides exposure analysis to identify risks and develop solutions for each small business client.
By doing this research and identifying these resources, Veteran Launch wants to help veteran small business owners save time researching and identifying their options. “The key is to be proactive instead of reactive,” adds Yulee. “Once a business is proactive, it transforms and gains a competitive advantage for the long-term.”
Strengthening Our Advisory Board with New Members