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Military Tycoon Enterprise Virtual Programme

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Military Tycoon Enterprise Virtual Programme

About this Event

VETERANS / SERVICE LEAVERS

HOSTED BY SAGE and THE PETER JONES FOUNDATION

Veteran Tycoon Enterprise is a virtual,12-week programme designed to help you start up a side hustle business.

www.veteranstycoon.org

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What are the origins of the programme?

Sage Foundation, Peter Jones Foundation and X-Forces Enterprise collaborated to deliver a pilot programme to introduce the concept of entrepreneurship to military and ex-military personnel. This was successful so we launched a revised version of the programme called a side hustle which will be delivered over two courses in 2021.

There will be a virtual, instructor led session on day one, lasting around 5 hours to develop the skills to write a business plan, weekly mentoring throughout and a further virtual session at the end to explore the results and to look at your next steps. The programme also provides access to a series of online resources to support your start-up journey.

What is a side hustle?

A side hustle is an enterprise activity that anyone can run alongside their primary job or focus.

Do you have the support of the Career Transition Partnership?

Yes, we have worked closely with CTP on this and the pilot programme, and they are fully supportive of our plans to support military entrepreneurs.

Who is eligible for the programme?

Military personnel who are in their transition period, and veterans who are all aged 30 and under.

Why is there an age limit, I am over 30, can I still apply?

People who are 30 or under meet the Peter Jones Foundation definition of young people. Priority will be given to those who meet the age criteria but in the unlikely event the course is undersubscribed, over-age personnel will be considered.

How many students will be on each course?

Each course capacity is 12, this is so we can afford each student sufficient contact time with their business mentors throughout the programme.

What type of content will be covered?

- What it is to be an entrepreneur – fact and misconceptions.

- In-depth analysis of the business plan - to enable individuals to understand their business in context.

- Marketing - market research, understanding the market, competitors, marketing oneself effectively.

- Money and finance - covered in an accessible, interactive way enabling individuals to understand what to consider and how to apply it.

What equipment do I need for the training?

In order to participate in the online course, you will need a personal laptop or tablet with webcam and microphone enabled, and a stable broadband connection with at least 2Mbps spare bandwidth and a fixed, quiet environment. The course will take place via Zoom. A smartphone will also work but the reduced screen size makes it more difficult to work with.

Is there any pre-course work I need to complete?

Yes, we will ask you think about a business idea and produce some information based on that. Examples of this will be provided and don’t worry if you don’t have any specific thoughts on a business idea at this stage. Think about a product, it could be anything. Consider how will you buy the materials, how you will promote your product and ultimately how you will sell the product to turn a profit. You will be asked to complete this questionnaire when you are registering.

How much time do I have to commit during the 12-week programme?

There are formal group days on the first and final days of the 12-weeks, you need to plan to be at those. There will be weekly touch points with X-Forces mentors to discuss progress, and you manage your own activity at home to suit your circumstances in the times between. The guiding principle is that the more effort you put in the more benefit you will get out.

Is there any cost to me?

No, a start-up capital loan of circa £250, will be provided to support your idea.

Do I have to have to repay my start-up loan if I make a loss?

If you make a loss, we ask that you pay back what you can, and the programme will absorb the balance. The trading window is the 12-week duration of the course, but this can be extended on a case-by-case basis.

If I make a profit, how much do I have to repay?

If you break even, or make a profit, we ask that the original loan is paid back so that it can be reinvested for future courses. If you wanted to make a donation back to the programme from any profits, that would be gratefully received but there is no expectation or obligation to do so.

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For more detailed information about the programme, including case studies and a comprehensive list of FAQs, please visit www.veteranstycoon.org.

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