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Starting a Business? Answers to 10 frequently asked questions

Business

By Kelly Bagla, Esq.

Having been a start-up lawyer and entrepreneur, I have been asked many of the following questions over the years from entrepreneurs who are starting a company.

Sometimes there isn’t an easy answer and, as lawyers often like to say, “It depends on the circumstances.” But here are my short-hand answers to ten of the most frequently asked start-up questions:

Should I form my company as a C corporation, an S corporation, an LLC, a partnership, or a sole proprietorship?

Start it as an S corporation, unless you have to issue both common stock and preferred stock; in that case, start it as a C corporation. And an S corporation can easily be converted later into a C corporation. LLCs are popular, but can get overly complicated. Partnerships and sole proprietorships are to be avoided because of the potential personal liability to the owners of the business.

Where should I incorporate my business?

The standard answer to this is Delaware, because of its well-developed corporate law. My answer is that it should be the state in which the business is located, as this will save you some fees and complexities. You can always reincorporate later in Delaware.

How much should I capitalize my business with at the beginning?

As much as you can reasonably afford, and definitely enough to carry you for at least 6 to 9 months with no income. What you will find is that it always takes you longer to get revenues, and you will undoubtedly incur more expenses than you anticipated.

How can I come up with a great name for my business?

This is difficult. First, brainstorm with a bunch of different names. Then do a Google search to see what is already taken, and that will eliminate 95 percent of your choices. Make it easy to spell. Make it interesting. Don’t pick a nonsensical name that will leave people wondering what you do. Do a trademark/trade name search on the name you like, then make sure you can purchase the domain name.

What are the biggest challenges to starting a business?

Entrepreneurship isn’t easy. Some of the challenges you’ll face include—

Shortage of capital and cash flow
• Having a good business plan
• Coming up with a great product or service
• Sticking to it
• Working more than you expected
• Getting through the frustrations of being constantly rejected by customers
• Hiring good employees
• Knowing when to fire bad employees
• Having to wear so many hats
• Managing your time
• Maintaining some kind of work/life balance

What kind of business should I start?

Be sure your business is one that—

You are passionate about
• Is within your reach to fund
• Has the potential to grow into something big in a reasonable time frame
• You have some experience in

What are the biggest mistakes made by start-up entrepreneurs?

Not starting with enough capital
• Thinking that success will come quickly
• Not carefully budgeting
• Not focusing on the quality of the product or service
• Underestimating the importance of sales and marketing
• Not adapting quickly enough
• Not understanding the competitive landscape
• Ignoring legal and contract matters
• Hiring the wrong employees
• Mispricing the product or service

Where can I get money for my business?

Many books and articles have been written on this subject, and those resources can be very useful. In short, some of the most effective sources of capital include—

Personal funds
• Credit cards
• Friends and family
• Angel investors
• Crowdsourcing sites, such as Indiegogo.com and Kickstarter.com
• Bank loans/SBA financings
• Venture capitalists
• Equipment loan financing

What kind of insurance does my business need?

Needs will vary, depending on the type of business, but consider the following:

General liability insurance
• Product liability insurance
• Professional liability insurance
• Property insurance
• Worker’s compensation insurance
• D & O (directors & officers) insurance
• Health insurance for employees
• Business interruption insurance
• Commercial auto insurance
• Data breach insurance
• Key man life insurance

What book is helpful for learning more about starting a business?

Get answers to even more questions in my book, Go Legal Yourself: Know the Legal Lifecycle of Your Business, available on Amazon.

About the Author
Kelly Bagla has been providing expert legal counsel to domestic and international clients for more than 10 years. As a creator of the Legal Lifecycle program, she knows how to help her clients navigate the legalities of running a business. Kelly specializes in assisting entrepreneurs throughout the various stages of their company’s lifecycle, developing roadmaps that lead their businesses to success, and planning exit strategies that maximize their profits.

Former IT Specialist, Navy Reservist Says Background Will Aid Success in New Career as Small-Business Owner

Business

(Colorado Springs, CO)—Having already enjoyed successful stints as an IT specialist and Navy reservist, Brian Notestein is more than prepared for his next venture as one of the newest franchise owners with Pillar To Post Home Inspectors^®, the No. 1 home inspection company in North America.

Launching operations in July, the Colorado Springs resident will serve homebuyers and sellers throughout El Paso, Teller and Pueblo counties.

Notestein, who previously spent 20 years in IT and 24 years as a Navy reservist, expects that experience to play an important role in his new position as a small business owner with the most respected brand in the home inspection industry. “My previous experience in customer service and support, resolving tough problems and learning and working with new technology, will be beneficial to me in my role with Pillar To Post Home Inspectors as I help new homebuyers in understanding what to look for in purchasing a new home,” Notestein said.

Pillar To Post Home Inspectors is the brand to which more than three million families have turned to for more than 25 years to be their trusted advisor when buying or selling a home. Consistently ranked for 23 years on Entrepreneur Magazine’s annual Franchise500^®, Pillar To Post Home Inspectors is enjoying its eighth consecutive year as No. 1 in its category on that coveted ranking. In addition, the company has 5-Star status with VetFran, a program offered by the International Franchise Association that provides discounted franchise fees to veterans. “I chose to partner with an established and successful company like Pillar To Post Home Inspectors in order to follow a proven system that essentially removes the trial and error processes that could be expected by going it alone,” Notestein said.

A professional evaluation both inside and outside the home is at the core of Pillar To Post Home Inspectors’ service. Pillar To Post Home Inspectors input data and digital photos into a computerized report. All information is provided to clients in a customized binder for easy reference, allowing homebuyers or sellers to make confident, informed decisions.

About Pillar To Post Home Inspectors^®
Founded in 1994, Pillar To Post Home Inspectors is the largest home inspection company in North America with home offices in Toronto and Tampa. There are more than 600 franchises located in 49 states and nine Canadian provinces. The company has ranked in Entrepreneur Magazine’s Franchise500^® for 23 years in a row, the past eight years as No.1 in Category. Long-term plans include adding 500 to 600 new franchisees over the next five years. For further information, please visit www.pillartopost.com. To inquire about a franchise, go to www.pillartopostfranchise.com.

This Former Manufacturing Executive and Veteran Credits Military Skills for Foundation for His Pillar To Post Home Inspectors Business

Business

Larry Presby stands in fron of his Pillar To Post Home Inspectors work vehicle

(DALLAS, TX)—Larry Presby, Dallas resident and veteran, recently launched operations as a franchisee with the No. 1 home inspection company in North America, Pillar To Post Home Inspectors. He services Collin County in North Texas which includes sections of Dallas, Plano, McKinney, Frisco, and many other small rural towns and cities. The former manufacturing executive and veteran turned his attention to detail into a new career that can benefit others.

“I served in the 18^th Combat Engineer Brigade in Europe,” says Presby. “Looking back on my time in the service, I realize that many building blocks were established to provide me the foundation I used to succeed. Teamwork and systems are two of the key parameters that I took with me through my corporate career and now guide me in developing my home inspection business.”

“After making a home purchase, I became aware of the importance of a quality home inspection. The bare bones home inspection report I received did not highlight numerous issues and cost me many agonizing hours and dollars which launched a new path of interest. As a result of my new knowledge and countless hours in remodeling and construction, I became my family and friends’ advisor when reading their inspection reports,” said Presby. “After being in the corporate world for many years, it was time to devote myself to another passion of helping others. As a home inspector I know I can fulfill this. I want to make sure people can make informed decisions about their home purchase which will becomea place in which they will create their safe haven.”

Pillar To Post Home Inspectors is the brand to which more than three million families have turned to for over 25 years to be their trusted advisor when buying or selling a home. Consistently ranked for 23 years on Entrepreneur Magazine’s annual Franchise500^®, Pillar To Post Home Inspectors is enjoying its eighth consecutive year as No. 1 in its category on that coveted ranking. In addition, the company has 5-Star status with VetFran, a program offered by the International Franchise Association that provides discounted franchise fees to veterans.

Veteran Plants Roots In Tampa For Family With Floor Coverings International Business

Business

Mark McMurray pictured outside in front of his floor coverings vehicle with large samples displayed

Mark McMurray, 55, is no stranger to hard work and challenges. After serving in our country’s military for many years he decided to go the corporate route. He was a consultant to many large public corporations and small private businesses, both in house and as a management consultant. It was during those years spent consulting with small, branch-based businesses that he decided to open his own business, buying the Floor Coverings International of North Tampa franchise which opened in early 2017.

He chose Floor Coverings International after much due diligence. The 150 plus unit franchise based in Norcross, Georgia, offered many of the key elements McMurray was looking for.

“I liked the thought of providing a great product and bringing a mobile showroom filled with samples of 3,000 types of flooring to people’s homes. That’s great customer service and convenience. And I get to build a dedicated work team at the same time. That’s something that appealed to me from my military background,” said McMurray.

Having advised many business owners Mark offers his own advice to others looking for the same opportunity Mark found via a franchise model.

“The potential franchise you end up with should be something that you are naturally interested in; they should have the kind of model that fits your management/leadership style, be in the right territory, be affordable, and have a trustworthy and supportive franchisor and network, and the ability for you to build on its value. It’s not easy to find a suitable candidate with all those criteria! I had heard of Floor Coverings International during my previous career and had heard great things about the culture of the company.”

After years of moving around McMurray said he’s thrilled to have embraced Tampa for the past twelve years as his home and this mobile business has plenty of room for growth giving him the opportunity to work with his family too.

“I am thrilled that I get to be back at work with my wife, a CPA, and my father in law who is a general contractor. We are building something together along with my kids. That is very special to me. And this industry excites all of us and is always supplying us with new challenges. The rate of beautiful new products coming on to the market is exciting, and the colors and trends change over time. Luxury Vinyl Planking that is water resistant is growing in popularity and performs really well in Florida with the heat and humidity. It gives the look and feel of hardwood, and our customers are really loving it which is very exciting. Scraped hardwoods and reused woods are also coming out with some gorgeous new visuals, so there’s really a lot happening in the industry.”

Even through the Covid19 crisis, McMurray depended on the support team of his franchisor, Floor Coverings International to keep things going while following proper guidelines.

According to McMurray, “During the COVID-19 crisis, Floor Coverings International of North Tampa took all necessary precautions to ensure the safety of our customers and our employees. For In-Home Consultations, our employees were masked, gloved, wore booties, and disinfected all samples and items brought into our customers’ homes. We’ve also conducted “Virtual Appointments” with our customers to discuss their projects and look at samples together. Watching how things evolved and grew in the virtual space was most interesting, and we’re happy to work with our potential clients now however they feel most comfortable.

Our focus always has been providing excellent customer service, and it will remain so during this challenging time for our community. We primarily work with residential customers who are updating the look and feel of their home, and that seems to have continued during the time when everyone had been spending so much time at home. Homeowners are seeing their homes in a whole new light after the quarantine, and they are ready to make some exciting new changes when the time comes to get back to normal.”

ABOUT FLOOR COVERINGS INTERNATIONAL

Norcross, GA based Floor Coverings International which has ranked consistently as the #1 Mobile Flooring Franchise in North America by Entrepreneur Magazine. The 150 franchisees and their Design Associates offer a unique in-home experience with a mobile showroom that comes directly to the client’s door. More than 3000 flooring choices are available to view in the home with and along-side the existing decor. The company will open several more locations throughout the U.S. and Canada through franchise expansion in the next 5 years. For franchise information, please visit www.opportunities.flooring-franchise.com and to find your closest location go to floorcoveringsinternational.com.

From the Corps to Corporate America

BusinessTransitioning

U.S. Veterans Magazine asked Laurie Sayles, president and CEO of Civility Management Solutions (CivilityMS), and Jackson Dalton, president and founder of Black Box Safety, Inc., to share what it was like for them to transition out of the military and into the boardroom.

Laurie Sayles with Civility Management Solutions

Founded in 2012, CivilityMS provides professional consulting services as an SBA 8(a) certified, verified Service-Disabled Veteran-Owned Small Business (SDVOSB), Economically Disadvantaged Woman and Woman Owned Small Business (EDWOSB/WOSB). The firm’s status as a SDVOSB is verified with the Center for Veterans Enterprise (CVE) and the Veterans First Contracting Program.

USVM: Tell us about your transition from military life to one as a business owner.

Laurie Sayles (LS): I am from Chicago, IL, and have always sought out a means of having my own money or supplementing my income. I was a baby-sitter to single women in the low-income projects complex I resided as a young girl and I modeled professionally during high school, all before I joined the USMC. So, I often say that I have always been an entrepreneur.

But after getting out of the USMC, I returned to supplementing my income. I tried medical billing as a home-based business only to learn it was a scam. I also became a wellness coach and a bootcamp fitness instructor, to name a few.

My journey was long after transitioning because there was no outreach during the 90’s for military personnel leaving the USMC. For example, TAPS didn’t exist, and no one in the marketplace really cared that you were a veteran. Also, the Internet was not what it is today and there was no support to help translate your MOS. It was a more challenging time.

But I wanted to work in corporate America, so I took a job for $17,000 in 1989 as a receptionist. With that, the journey began to learn the difference of being a civilian in this space as an African-American woman with no degree. Within a short period of time, I began to take English, grammar and speaking courses to help me modify my means of communication.

I climbed the corporate ladder from receptionist to administrative assistant, to an executive assistant, to an operations director to a project manager over a 20-year period. Then in 2012, I became president and CEO of Civility Management Solutions.

USVM: How did your experience in the military influence your skillset as a business owner?

LS: My experience from the military has a huge influence in my skillset as a business owner. Again, being an African-American woman in business adds more challenges that many cannot identify with unless they belong to this ethnicity. But, thanks to being a woman that served in the Marine Corps, I am accustomed to operating in a man’s world and a world that is full of alpha males! The Marine Corps is not known to be, “The Few, The Proud, The Marines,” just as a slogan—it’s a culture and a lifestyle. As I often say, if you re-enlist in any branch of the military, it really speaks to you adapting and accepting that culture completely, otherwise you get out after first term. No one—and I do mean no one—that knows me personally walks away not knowing that I served in the Corps. It shows up in my demeanor and my strength as a business owner.

USVM: What advice would you give someone transitioning from the military into becoming a business owner?

LS: Make sure you start your homework early when you know your end date. There is so much to offer us when we get out of the military, and finally this country is beginning to recognize this fact. Our discipline, leadership, resilience and determination set us apart from anyone else who never served. So, with running anything … you’ve been trained while you wore the uniform; trained to operate in high integrity; and trained to leave no man behind. All three of these lead to you being a strong leader willing to take full responsibility for your actions. Help others be successful as you become successful.

Do take advantage of all the training being offered by the SBA in your State, affiliates of the SBA, and programs offered to veterans of the military. Get yourself affiliated with associations and advocacy groups that focus on the type of work you want to do as a business owner.

Lastly, network, network and network some more to find people that you can engage with. And get yourself some mentors! Each one will add different values and you can call on them as needed.

Jackson Dalton and Black Box Safety, Inc.

Black Box Safety, Inc. specializes in the prevention of serious injury in the workplace by supplying safety equipment for government agencies and organizations. Dalton is a Board-Certified Safety Professional (CSP) and holds a Master’s degree (MPH) in public health—only 17 percent of CSPs hold both (Board of Certified Safety Professionals, 2017) —as well as a Bachelor’s degree in business administration.

USVM: Tell us about your transition from military life to one as a business owner.

Jackson Dalton (JD): I was injured while serving in the Marine Corps. As a direct result of the injuries I sustained, I went through 3 leg surgeries and was not able to walk for a year. While serving, I was hurt at work—essentially an occupational injury. From this experience, I have made it my mission in life to ensure that others aren’t hurt at work, so that they can continue to do the things that they love to do.

As a direct result of my Marine Corps experience, I transitioned from the military into a career in occupational health and safety. I pursued a Bachelor’s degree and Master’s degree in Public Health, and spent over 10 years working as a Safety Engineer. Three years ago, it was my desire to help more people in a more meaningful way so I left my job at 3M and started my company, Black Box Safety, Inc., which is a supplier of safety products and safety training to government agencies and organizations that are looking for ways to reduce risk and help their employees stay safe and healthy.

USVM: How did your experience in the military influence your skillset as a business owner?

JD: My experience in the Marine Corps instilled two traits: Grit and bearing. Grit is the ability or decision to persevere in the face of extreme hardship and danger. Bearing is the ability to maintain a calm and confident demeanor in the face of adversity and uncertainty. I learned that the most contagious thing in the world is not infectious disease—it’s human emotion. As a leader, if I lose my bearing and communicate emotions of fear and stress, those emotions will be transferred to those I’m leading. I served as a squad leader in the Marine Corps and today I serve as President of Black Box Safety, Inc., where I am responsible for the health and welfare of 2 full-time employees and 4 part-time employees.

USVM: What advice would you give someone transitioning from the military into becoming a business owner?

JD: This is the advice that I would give to someone transitioning from the military to entrepreneurship

Take advantage of every educational opportunity available including but not limited to: Post-secondary education funded through the Post-9/11 GI Bill and Dept. of VA Vocational Rehabilitation Ch.31,; free business start-up courses offered through the Small Business Administration (SBA) and the Service Corps of Retired Executives (SCORE) [SBA offers free business courses online at SBA.gov]; apply for a free SCORE mentor; podcasts featuring business start-up advice; and finally an often-overlooked resource that proved to be of great value and benefit to me, Shark Tank and YouTube.
Join an incubator that is composed at least partially of active-duty and veteran business owners. I benefited greatly from the camaraderie I found by applying to a veteran incubator called Tactical Launch. I went through this incubator 2 years ago, and I am still close friends with many of the members of the cohort and many of us continue to be successful in business. The camaraderie is necessary when starting a business, especially if you are the sole founder. It’s actually the number one thing that servicemen and women miss the most when transitioning out of the military.
If you are able to do so, start your business now. Many business startups require very little in the way of capital and expense. Most can be started out of your home with a phone, a laptop and a lot of determination. The biggest mistake I see in other founders is the desire to have everything ready prior to launch. A good plan executed today is better than a perfect plan executed tomorrow.

How to Land a Government Contract

BusinessGovernment

By Katie Bigelow, founder, Mettle Ops

Government contracting is not for the faint of heart. The barriers to entry are high and the regulations are complicated and overwhelming. If easy money is the goal, government contracting is not the way to get it. We lose 99 bids out of 100. Can you take that kind of beating and keep going?

The first steps to government contracting are pretty simple. Register with Dun & Bradstreet. Don’t pay them or anyone else to do it. Regardless, of how it seems, it is a free service. They will give you a DUNS number. Use that to register in Sam.Gov where you will get a CAGE code. Don’t skip the opportunity in Sam.gov to complete the SBA Dynamic Small Business search. Read all the regulations that you are committed to follow. Next, register with Beta.sam.gov and look for opportunities to bid. When you find something that looks good, read the whole thing. That’s right. Read all 76 pages paying particular attention to the Performance Work Statement, Section L, and Section M. Submit your bid per their instructions. That’s it. Too easy.

I don’t actually know anyone that has made any real money doing it this way. No doubt there are people out there that simply followed the prescribed path and struck it big. More often, there are people that followed the path and ended up in the pokey, too.

The hard truth is that nobody in this business is rooting for you. I have never found a Government Small Business office that did anything other than put your name on a list and provide a PowerPoint presentation.

Government Contracting Officers, as a general rule, don’t want to do lots of small contracting actions for small businesses. They want to execute fewer contracting actions for big businesses with big dollar amounts. One of my first customers tried to offer me a $14 million contract. The contracting command gave us all a giant “NO!” We were too small, too new, too much of a nuisance.

“Go work for a prime for 5 years,” is the verbatim advice we’ve received from contracting officers. Large government primes have lots of attorneys, lots of money, and lots of shareholders to please. They use small businesses, strip the name of the small business off the work and offer it as your own. It’s not illegal. If you don’t mind, this may be the route for you. It’s not the route for me.

Here’s my secret sauce: Work really hard. Do all the things I mentioned in paragraph 2 and then work hard. We take every opportunity we can afford to meet people, to shake hands, to share what we’ve learned. We don’t shy away from making referrals, even if we get nothing in return. We wear our character on our sleeves, our business cards, and our websites. We were warfighters and always will be at heart. There is a standard of values that comes with that.

We are students of our industry. Take DAU classes. We read and connect and learn. We reach out personally to potential customers every single day. Our goal is to understand more about government contracting than even our customers know. We aren’t trying to outsmart them. We are trying to provide great value to them.

To date, I have only won 4 government contracts since 2015. The first was for $70,000, then $14 million, then $19 million, and the most recent another $19 million. Since I told you we won 1 out of 100 or less, you can do the math to see how many times we lost. Decide if this is the industry for you. If it is, call me. Maybe we can do it together.

Katie Bigelow is the founder of Mettle Ops, a woman-owned, service-disabled, veteran-owned, disadvantaged small business. WBE, WOSB, EDWOSB, NVBDC, CVE, VOSB, SDVOSB, U.S. Small Business Administration 8(a) Certified 2027

5 Ways Veterans Can Leverage Facebook to Grow their Career or Business

BusinessCareer

By Payton Iheme, U.S. Public Policy Manager, Facebook

Each year, an estimated 200,000 service members return to civilian life and for some, this brings uncertainty to what’s next in their career, according to the U.S. Department of Veterans Affairs.

However, these service men and women continue to contribute to their country, even when they return, albeit in a different way.

I have spent more than 15 years on active duty and continue to serve—from being an officer in the Army’s Special Operations Command and a White House Senior Policy Advisor to currently a Lieutenant Colonel in the Army National Guard. In addition, as the co-owner of a home remodeling business, I know firsthand how important it is to have the right tools and support, whether it’s in the military or as a veteran small business owner.

Everyday Facebook serves as a platform for veterans to find and be a part of groups that help them build community. In fact, more than 900,000 people in the US participate in more than 2,000 groups for military members, veterans and their spouses on Facebook. As a proud supporter of the military-veteran community, Facebook has also made it easier for veterans transitioning into civilian life to find career opportunities and draw on their unique skills to start their entrepreneurial journey.

That’s why we recently announced the launch of the Military and Veterans Hub to provide an all-encompassing resource for veterans to continue to build their community, find job opportunities and enhance their digital skills through Facebook to grow a business or a career.

Facebook also partnered with SCORE, the nation’s largest network of volunteer expert business mentors, to provide business education and mentoring to military members, veterans and their families who want to become entrepreneurs. I utilized SCORE’s resources during my transition into civilian life and it helped me not only build on my experience and skills to find a new career, but it also gave me the confidence to start something new. I’m particularly thrilled about our partnership with SCORE and the opportunities it will unlock for fellow veterans.

Whether you want to build a business or a career, here are five ways military members, spouses and veterans can use Facebook’s Military and Veteran Hub to their advantage:

1. Connect with a mentor from a cohort of SCORE’s experienced business mentors, who are also U.S. veterans themselves, through the Mentor Match program.

2. Access our veteran-focused educational toolkit for launching a business that includes steps for developing a business plan.

3. Attend a veteran-focused interactive workshop to receive guidance on starting a business. We’ll be working with ten local SCORE chapters to bring these in-person workshops to cities that we’ve determined to have a high concentration of military members and veterans.

4. Find employment opportunities through the Facebook Jobs Tool. Frank Diaz, an Army veteran and owner of Tin Hut BBQ, uses the Facebook Jobs Tool, for example, to source employees at his mobile restaurant with an objective to hire discharged veterans in need of work and mentorship.

5. Test out the Facebook Military Skills Translator, designed to help people find careers on Facebook relevant to their military experience. As the Public Policy Manager at Facebook, I’m proud to be a part of a company that values my experience and allows me to use my military skills to make an impact on the business.

Facebook’s Military and Veteran Hub make it easier for military spouses and the military community to find and access Facebook’s resources, tools, events and groups. For more information, visit our website here

Payton Iheme (Facebook US Public Policy) focuses on policy issues on a range of topics, but works closely on issues related to the Internet, digital economy/small business, counter terrorism, cybersecurity, data privacy, and partnerships. Previously, she served as the Senior Policy Advisor for Communication Technology at the White House Office of Science and Technology Policy. She holds honor degrees from the University of Texas and a master’s degree in Government Policy from the George Washington University. Iheme currently serves as a Lieutenant Colonel in the Army National Guard.

Meet Brittney Nicole: Navy Veteran Turned Fashion Entrepreneur

BusinessCareer

A clothes hangar filled with women's coats

Transitioning from military life back into civilian life is a challenge for any veteran. While there are many different approaches in choosing a career, one U.S. Navy Veteran decided that she would approach her career choice by following her passions.

Always having a love for fashion, Brittney Nicole decided to open her own clothing business, Coco’s Wardrobe, upon her retirement from the U.S. Navy. The New Orleans based boutique designs, manufactures, and sells women’s clothing that is meant to look as good as they feel, blending comfort with style. All of the clothing in Nicole’s shop has a women’s desire to feel confident and comfortable at the forefront of everything that is produced.

In addition, Nicole has also began selling uniquely designed face masks in response to the COVID-19 pandemic.

How Wells Fargo is Prioritizing Veterans

BusinessDisability

An American Soldier with his wife and young son, smiling for the camera

By Natalie Rodgers

In 2012, Wells Fargo and Company founded its Military Affairs Program, with the goal to connect with current and past military personnel and their families, and provide them with the proper resources to succeed in their day-to-day lives.

Through this program, Wells Fargo has repeatedly reported the importance of connecting and understanding the concerns of our troops to better serve their needs. This past week, Wells Fargo has gone the extra mile in improving its program by hiring a new head of military talent external recruiting and enterprise military and veteran initiatives—Sean Passmore—who will also oversee the Military Affairs Program. Passmore will officially take this title on May 11, 2020.

Passmore’s resume could not be more impressive. He served in the U.S. Army for over 22 years and has an extensive background in helping military veterans to transition from the battlefield to the workforce. Enforcing Wells Fargo’s desire to better connect and understand its military clients, Passmore’s experiences will help to better cater the program to the needs of its participants.

Passmore has also worked as the executive vice president of strategic initiatives and military affairs for the Perfect Technician Academy (PTA) and as the military hiring advisor for United Services Automobile Association (USAA). In these positions, he became an expert in the recruitment and hiring of military personnel into the workforce. Passmore also served at the White House as a senior presidential officer.

“Sean comes to Wells Fargo with exceptional experience,” Indirhia Arrington, Wells Fargo’s head of Targeting Sourcing and Passmore’s point of report, said. “Sean will be a tremendous asset overseeing this program and building a stronger relationship with the military community at large on behalf of the company.”

To learn more about Wells Fargo’s Military Affairs Program, visit wellsfargo.com/military.

From Navy Officer To Millionaire

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Grant Page, a Latino Navy Officer, is the proud owner and engineer of Magna Imperio Systems (MIS), a clean water manufacturer. The company currently values at $118 million and opened only six years ago.

When Page was only 17 years old, he conducted an experiment on water in which he discovered how to remove salt from water simply by-passing water molecules between two alloys. This idea would not resurface into Page’s life again until he was working on his thesis in his engineering undergraduate degree at the U.S. Naval Academy. His thesis explained a new water treatment technique that would allow for clean drinking water to be easily produced.

Within the next two years, Page would begin to grow his company, all while serving in the U.S. Navy. Page graduated from the academy and started his business in 2014, which he often worked on from the garage in his off-base home’s garage. Page then served as an ensign for the U.S.S. Mason and led a team of 40 men on a six-month deployment to the Middle East, where he performed boat operations and search and rescue.

While Page was earning his title of Lieutenant Junior Grade, all of his spare time went to managing his business. In its first year, the company was valued at $2 million, putting him in charge of a seven-member board at age 23. Before requesting to discharge early in 2017, Page’s business raised $6.6 million on a $20 million valuation, despite never having marketed a product.

Once discharged, Page worked full time at running MIS. The company began distributing clean water to restaurants, industrial manufacturers, municipalities, and disaster crises, and quickly began to surpass the competition. MIS can clean some of the dirtiest of water and does so with technology with a 60 percent energy savings compared to other companies.

Today, at only 28 years old, Page is the president and chairman of the growing company—producing one million gallons of water a day from his Houston headquarters—and credits his time in the Navy to his success. In an interview with Forbes, Page says, “The Navy made me realize that life is a game that’s 90 percent mental. And they made me appreciate the small successes that come when you invest your time and hard work.”

From Air Force to Fortune: One Woman’s Flight to Success

Business

Kathleen Hildredth, West Point graduate, U.S. Army veteran and success story pictured in office setting

Kathleen Hildredth, West Point graduate and U.S. Army veteran, has been penned as one of the most successful women in the world, with a backstory that is just as incredible as her accomplishments.

Having been raised by commercial airplane pilots, Hildredth has always had a close connection to aircraft. Upon graduation from West Point, Hildredth went on to serve in the Army’s aviation branch as an officer, helicopter pilot and maintenance test pilot, and traveled throughout various countries during her service.

When her time with the Army came to an end, Hildredth decided to channel her passion and knowledge for aircraft into her own business venture. In 2001, she founded M1 Support Services, an aviation maintenance company in Texas. The company mainly deals in maintaining fighter jets and almost any kind of government aircraft, its biggest clients being the U.S. Army, Navy, and Air Force, as well as NASA.

The inspiration to start the company came from Hildredth’s past experiences with contractors, believing she was better equipped to serve their needs. Hildredth currently serves as the owner, executive, and financial leader of the entire company, which is now made up of 6,500 employees worldwide. This makes Hildredth a part of the 10 percent of women that make up the aerospace defense industry’s executives.

As impressive as their resume sounds, their revenue clearly speaks for itself. M1 Support Services pulled in $680 million in revenue in 2018, putting Hildredth at an estimated $370 million in personal fortune. This revenue earned her 57^th spot on Forbes’ 2019 list of “America’s Most Successful Self-Made Women”, and she is the first veteran to ever debut on the list.