Wednesday, Aug 11, 2021
The University's Veterans Entrepreneurship Training program returns for 8th year
by Rachel Stengel '14, '20
This summer, 13 veterans worked with faculty from Rider's Norm Brodsky College of Business to learn the skills needed to bring their business ideas to life or grow their existing businesses.
In its eighth year, the free, seven-week Veterans Entrepreneurship Training program guides participants through a range of business development skills and concepts, including conducting a feasibility study and market research, developing a business and market plan, and understanding their business' operational and financial needs.
Industries explored during this summer's program included permaculture and organic farming, genealogy services, real estate, social media advertising and more.
"The course teaches them the skills to assess business ideas, which can be applied to multiple ideas even after they have left the program," says Dr. Mayank Jaiswal, assistant professor and instructor for the program. "As an instructor, it is an honor to teach veterans who have done so much for the country."
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Graduates from Rider's 2021 Veterans Entrepreneurship Training program -
Former Marine Keith Guarino hopes to pursue a real estate business with training from Rider's Veterans Entrepreneurship Training program. -
Dean of the Norm Brodsky College of Business Dr. Gene Kutcher addresses the programs' participants.
Former Marine Keith Guarino collaborated with two fellow participants to research the feasibility of a real estate business. After a business plan that was deemed solid, he is exploring opportunities to bring the idea to fruition.
"I believe this opportunity has elevated my success moving forward as an entrepreneur in training," he says. "I still work a full-time job and was able to commit every Wednesday to my entrepreneurship class. Initially, I was skeptical and thought that I wasn’t going to be able to fit it into my busy schedule; however, our professor was engaging, motivating and committed to ensuring that we were comfortable and supported while learning."
The feasibility study is the crux of the program, regardless of a positive or negative outcome, Jaiswal says.
"If the analysis shows that an idea is feasible, it is good news, but even if the analysis shows that the idea is not feasible, it is still good news," he says. "Now students understand what the shortcomings are and, as such, do not spend time and resources on an idea which would fail down the road."
Program participant Gary Schuck agrees that the enhanced ability to examine a business' strengths and weaknesses prior to launching is something he will incorporate into his future business plans.
"In the past I started a drop shipping business that just didn't go anywhere," he says. "With a new methodology of doing my research first, not only will things go a bit differently, but give me the push to keep trying something new."
The program is offered each summer through Rider's Center for Entrepreneurial Studies with support from the New Jersey Bankers Charitable Foundation and the Uncommon Individual Foundation. Upon completion of the program, all participants had the opportunity to apply for one year of mentoring as they pursue their business venture.
Rider has a long history of assisting veterans and service members. Since 1865, the University has opened its doors to veterans and military service members with most of the inaugural class comprised of Civil War veterans. Today, the University continues its proud tradition of helping current and former members of the Armed Forces transition from enlistment to enrollment. Recently, Rider was ranked the ninth most military-friendly school in an annual ranking of 1,200 institutions.