Posted on Dec 14, 2017
Todd Connor, CEO and Founder of Bunker Labs, here for a live Q&A Wednesday. What questions do you have about entrepreneurship?
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Todd is the CEO and Founder of Bunker Labs, a national entrepreneurship organization dedicated to helping military veterans start and grow businesses. Announced in June 2014, Bunker Labs has expanded to cities across the U.S. through local chapters, with further expansion plans underway. Bunker Labs works to support military veterans by creating locally thriving networks, educational programs, and platforms for military veteran entrepreneurs to connect with the people and the resources they need to be successful with early stage ventures. The newest innovation is “Launch Lab Online,” an online gamification approach to new venture development for current and former service members. Todd Connor is a former management consultant, U.S. Navy veteran, and has held many leadership roles in the public and private sector. He is a two-time entrepreneur and the founder of The Collective Academy. Todd holds a BA from Northwestern University and an MBA from the University of Chicago. He is a Commissioner of the Cook County Commission on Human Rights, was honored as a 2015 Crain Chicago Business 40 Under 40, winner of the Chicago Inno 50 on Fire award, is a 2016 Presidential Leadership Scholar, and a 2017 Presidio Institute Fellow.
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Responses: 12
I'm in the beginning stages of starting up a company and have been working a lot on foundation work. Like the problem, mission, vision statements, learning about the formation of an LLC, researching IP, product designs ...etc. However, my partner and I have had a very hard time trying to name the company/brand. Perhaps its our methodology that's holding us back or our own personal bias but we haven't been able to agree on anything. Any suggestions/recommendations for us on how to decide on a name?
LT Todd Connor
Great question thanks Trevor. I think when it comes to names it should tie to a product or service that feels relevant. It's easy to get in your head about this - I've been there :) Fiverr.com can actually give you a name and there are some other online sites as well (shopify.com is another one) once you describe the business purpose. I named my company Flank 5 Academy which had meaning to me (Navy = Flank speed = Full speed ahead) but in reality it was a bad brand for the market place. We re-branded last year to be Collective Academy because it was consistent with our group learning modality for leadership development which made more sense to people that had not heard of us. So I would ask customers how they would describe your business and for ideas for names - they will give you better answers than you and your business partner probably can (which sounds counter intuitive but try it!) Good luck - let's chat more on the webinar.
Sgt Trevor Barrett
LT Todd Connor- Thank you for your suggestions! I am meeting up with my partner in just a few minutes and we will certainly visit the sites that you suggested. When is the webinar that you mentioned and how can I sign up for it?
Todd - thanks for joining us on RP. As a two-time entrepreneur, what are the biggest lessons you learned while "in the fight" that you wish you knew beforehand?
LT Todd Connor
Great question thanks Dave! We will talk about this on the call for sure. I will tell you one thought which is that I wish people explained that starting a business is not a two outcome (win or lose) endeavor - starting a business is a journey that opens up lots of opportunities, twists and turns, and exciting things that you can not possible expect when you start. I think you have some experience with this :) Look forward to talking!
Todd, thank you for coming to RP...and for your work at Bunker Labs!
Two part question, based on your experience w/entrepreneurship and vets:
- what attributes do vets have that make us uniquely positioned for entrepreneurial success?
- what are the early adjustments for vets to make when they re-enter civilian land that will help accelerate/acclimate us to this (civilian) operating environment?
Respectfully,
Mark
Two part question, based on your experience w/entrepreneurship and vets:
- what attributes do vets have that make us uniquely positioned for entrepreneurial success?
- what are the early adjustments for vets to make when they re-enter civilian land that will help accelerate/acclimate us to this (civilian) operating environment?
Respectfully,
Mark
LT Todd Connor
Mark,
Great questions and definitely two things I will discuss on the call. Here is the short answer: the basics of leadership, work ethic, and organizational skills are all highly relevant in a start up. Sometime we think starting a business is about "brilliant ideas" - negative! It's about smart execution and so for veterans they have those skills and should value what their experience brings to starting a business. For other adjustments, I would say you need to get off base, get out of your basement, and get with civilians at meet-ups, entrepreneurship events, Bunker Labs events, chamber of commerce events, and anywhere people who are business owners or starting businesses are hanging out. There is very little you will learn sitting in a workshop on base - it's much more about the personal relationships with people that you can build who understand what it is like to build a business in your market / sector. Let's chat more on the call but good luck!!
Todd
Great questions and definitely two things I will discuss on the call. Here is the short answer: the basics of leadership, work ethic, and organizational skills are all highly relevant in a start up. Sometime we think starting a business is about "brilliant ideas" - negative! It's about smart execution and so for veterans they have those skills and should value what their experience brings to starting a business. For other adjustments, I would say you need to get off base, get out of your basement, and get with civilians at meet-ups, entrepreneurship events, Bunker Labs events, chamber of commerce events, and anywhere people who are business owners or starting businesses are hanging out. There is very little you will learn sitting in a workshop on base - it's much more about the personal relationships with people that you can build who understand what it is like to build a business in your market / sector. Let's chat more on the call but good luck!!
Todd
SGT Mark Halmrast
Thank you, sir, for the insight...and again, for your work with Bunker Labs. I just attended an event in Minneapolis last evening that brought together vets, the business community, and some state government resources. Outstanding event.
You and Bunker Labs are making a difference. Drive on!
You and Bunker Labs are making a difference. Drive on!
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