A Veterans Guide to Business Success

The following article was submitted by Deploy Care, an organization dedicated to serving the needs of veterans.

A Veteran’s Guide to Business Success

 

After the military, returning to civilian life can be a challenge. Compared to non-veterans, HR Drive points out that veterans are more likely to be underemployed. If you are like more than half of all veterans, you don’t want to spend your life modeling your career after your military experience. However, entering a new industry can be overwhelming, especially when civilian recruiters don’t always know what to do with a veteran’s experience. They are more likely to place veterans in jobs below their education and skill level.

 

If you have an entrepreneur’s spirit, you can give yourself the right opportunities by starting a successful business. If you are a veteran with disabilities, your opportunities are just as wide open.

 

Give In to Your Passion Project

Everyone has a passion. If you want to start a business, begin with what you are already drawn to. As TCK Publishing explains, passion projects mean doing what you love — something that naturally draws you and motivates you. Use this as your leaping off point. Ask yourself if what you love could make money.

 

If you spent your military career traveling from place to place, enjoying food and culture, you may be driven to opening a restaurant or developing products for other foodies. Or if your job involved electronics, perhaps you’d love to dive into appliance repair or cybersecurity, depending on where your interests lay.

 

Whether you choose a passion project or some other lucrative concept, this is just the beginning. Once you have an idea, find out if there is a demand for the product or service. According to the U.S. Small Business Administration, you should look into the market size and other economic indicators.

 

Match your business idea to your current skill sets and experience. Just a few jobs that veteran first-time entrepreneurs may find success in include:

 

Take Advantage of Education

As a veteran, you have access to a variety of education opportunities. The VA education benefits help veterans pay college tuition, allowing you to find the best training program or college. The VA can also assist you with career counseling. Look into getting GI Bill tuition assistance as well.

 

Continuing your education as a veteran can be daunting, but it can also help you advance your career and to make you a competitor in the business market. Going back to school can increase your confidence and hone your talents. Educators provide guidance and support to help you reach your goals.

 

Create a Strong Business Plan

A solid business plan is a blueprint for success. The purpose of a business plan is to establish your company’s focus. Outline your goals and the steps that you need to take to reach those goals, and include your budget information.

 

At this stage, consider your business formation. A limited liability company is a business structure that limits your liability for your business, plus there are tax perks and if your business takes off, it can grow with you. Make sure to check your state’s regulations before you choose a business formation. You could hire a formation service to avoid lawyer fees and extra legwork.

 

During the transition to civilian life, you have to start thinking about the future. As an entrepreneur, you can utilize your skills to create a company where you answer to yourself. Think about where your motivation comes from, and allow that to be your foundation for success in the business world.

 

All People Together is dedicated to providing information, assistance and opportunities to those with disabilities. To learn more about what we can do for you, please visit our website today.