Tips for Starting a Business After Leaving the Army
- 22 Aug 2016
Use the Skills and Knowledge You Already Have
You worked hard in the military, and you learned a lot and developed a lot of new skills. So why not use what you learned in the military to start a new business? If you specialized in communications, operations, engineering, health care, or computers and technology, you can translate those skills into a business as a civilian. So stick with whatever you already know best, and basically translate those military skills into civilian life. A squad leader, for example, will make a great project manager, or you can even start up a retail location like patrolstore.com to continue working with law enforcement and military personnel, providing them with the equipment that they need. The possibilities are truly endless.
Access the Funding You Need
Before you launch your business, you will need to acquire the appropriate funding to get it off the ground and get the resources that you need to succeed. You can seek out a bank loan or work with an outside investor, or you can even ask your family and friends to invest in your new company by loaning you the money that you need. Also, Small Business Administration loans that are guaranteed are a great way to fund your startup, and the SBA provides a variety of resources for entrepreneurs, such as a micro loan program if you only need a small amount, as well as affordable interest rates. And, finally, if you have enough of your own money, you can invest your savings into your own business.
Employ a Talented Team
You may think that you can go about managing and completing every aspect of your business completely on your own, but the truth is that you can do a lot better by sticking with your strengths while recognising your weaknesses. You can outsource a variety of tasks to freelancers, as well as hire a small team of employees when you first get started, particularly if you need help with things like office work, accounting, and payroll. This gives you more freedom to focus on your business’s development. In other words, never be afraid to ask for help or invest in talented workers who can help you succeed.
With the tips above, you can take your military skills and experience and become the entrepreneur that you have always wanted to be. Prepare to be your own boss and do something that you love, and then put your plan into action to achieve great things.