Guest Post: Beverly Nelson from StandUpforCaregivers.org
Starting a business can be very exciting, but it usually comes with a few challenges along the way. People who previously served in the military encounter some unique challenges when starting a business, but there is help for these people as well. According to experts, veterans sometimes struggle with finding a way to thrive back in the civilian world, partially due to changes in routine and structure. These are some tips from Ellis County Detachment 1452 especially for veterans who would like to start a new business.
Businesses for New Entrepreneurs
The type of business that you start largely depends on your interests and abilities, as well as how much money you have to invest in a new company. Many new entrepreneurs do not have much capitalto start with, so it is recommended that they begin by establishing businesses that do not require large investments in equipment or employees, such as:
• Pet sitting, pet grooming, or dog walking
• Selling handmade arts and crafts
• Planning or managing events
• Fixing broken appliances in homes
Many skills that are acquired while in the military, such as communication and discipline, can be transferred to business ownership and running a successful company. Once you get your new business up and running, you will hopefully begin to make a profit. You can later use these funds to expand your current business or start a new one if you wish.
Starting a Business
There are many steps that need to be taken when developing a new corporation. One of these steps is to create a plan for the company. A well thought out business plan includes elements such as:
• Specific details about the company
• How to position yourself in the market
• Ways to advertise to potential customers
• A policy for hiring new employees
• A system to deal with finances and pay for essentials
• What you hope to accomplish through the company
Without a solid plan, you have no direction in which to take your new venture. Also, consider how your business will be structured before diving into anything.
Elements of a Successful Business
One basic element of running a company is researching your market. This helps you to be aware of who is purchasing your products or services so that you can tailor those things to the wants and needs of your customers. A couple of ways to do market research include distributing surveys and interviewing customers.
All new businesses need funding as well. Fortunately, there are services out there that are specifically meant for veteran entrepreneurs. In the United States, the Small Business Administration offers funding options and training resources geared specifically to veterans of the armed services.
Key Support Systems
It is essential that you have the proper technology in order to run your new business. One such technology is an invoice system to make it easier for customers to make payments. An invoice maker, for instance, will allow veteran business owners to design a customer invoice by adding the company's logo and using the text and colors of their choosing.
Establishing and owning a new business can be fulfilling for those who have recently returned from serving in the military. Before starting your journey, do some research on the resources that are available to veterans who wish to start a business.
At Ellis County Detachment 1452, our mission is to lend support and partner with Veterans, Veteran organizations, and community members and organizations through volunteerism, financial support, and grants to empower Veterans to conquer the challenges they face in an ever-changing world and increase community awareness. We’d love to hear from you!
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