I want to start a business but I do not have one thing I am particularly good at. I consider myself an expert once I get hands on experience. I am going to complete my BS Degree in Business Management in one year and I know I can do anything but I do not want to try something and not like it.
I am also want to help other veterans transitioning out of the military with jobs and on site training. I see so many post for jobs for veterans but they require a large amount of experience that most veterans lack. I want to be able to talk to employers about getting a training service provided for veterans who decide to do something different than what they did in the Military.
After my degree I plan to work for a company but then on my off time start my own business.
Answers
I work directly with executives that help transitioning veterans into the business community. Give me a call
317.446.5269
Contact the business startup experts at SCORE and SBDC.
Their counseling is free and they know all downs and ups of starting a business.
Thanks,
Paul
Hello Jeremy,
Both George and Emanuel gave good advice and pursuing it can give you some idea of what you want to do. I can also offer you my services as a Business Consultant.
I assist people like yourself who wants to go into business but not sure of what will be a good business to start. No cost to you and we will find something that you like and something that will help others.
Sincerely,
Michael Simmons
There is an upcoming seminar, VWISE. Veteran Women inspiring the Spirit of Entrepreneurs. Please do a search for VWISE. You can attend the conference free of charge. You will pay for the travel expenses but they will help you with ideas for your business. The next one is going to be here in Washington, DC in March 2015. They are worth a visit. VWISE.
Enjoy,
Scena
Find a passion and find a way to make it new to people. If you are enthusiastic about it everyone else will be, especially if you give other vets a chance to share it with you. Great examples: Team Rubicon https://www.youtube.com/watch?v=8fE29CHJMCg
Stubble & 'Stache https://www.youtube.com/watch?v=xyzBT2LAh78
You got this Devil!
Thank you so much for your service.
Score helped us get in touch with a professional in our line of work. He gave us some helpful advise. He did not seem like he believed in us or acted like we would be successful, but we did not allow that to stop us! Believe in yourself & give it 110%.
I wish you great success!
Hello Jeremy, I will advise that you start with your local STORE organization. They helped me with my business. There are other state specific free help for small businesses. You can also contact your local chamber of commerce.
Good luck
Christianah
Jeremy,
I'm doing the same. I'm starting with the Ms Small Business Development Center. There is a step-by-step process to get you on the road to success.
MSG. Al E. Hope, Sr., USA (Retired)
Jeremy, Besides paying you for your years of service, the Government funds a program for people who want to start a business. It is called SCORE and the consulting services are free giving by people with years of experience in business. SCORE as 400 offices/chapters int he US with 13.000 volunteer members. SCORE is the volunteer arm of the US Sm Bus Adm.
Go to www.score.org and to " find an local chapter" tab -- put in your zip code and you'll get a list of the closest chapters/offices.
Alan
Jeremy, my advice is NOT to start a business from the ground up... unless you have some good relevant experience in starting one.
The alternative I'd recommend is using a franchise system. How you have the most successful business is the same way whether it is a franchise or not... you still have to go out and develop the same systems that a franchise already has. Find any industry you like and then find a franchise brand in the industry and study it. Either you can learn enough on your own to duplicate the systems (though not likely due to time and money) or it may just become evident that you don't have to be an expert in all of the business skills that most need to succeed... all you really need is a teachable, trainable system that gets the service done. Over 50% of our franchisees are Veterans that prove to be really great at franchised businesses because they already understand the importance of following systems and procedures... the whole force behind successful brands. Ours provides patrol and dedicated security services. Keep searching... study and maybe you won't have to re-create a business that is already ready for you to run. Nathan
Jeremy,
I have been working with a non-for profit by the name of, "The Bunker." You should chek them out- they have a lot of great resouces for Veterans how are looking to start up their own business. The group was started by Veterans to help other Veterans. Feel free to reach out if you would like some material our if you need a point of contact within your area.
Mike-
Consider contacting the SBA (Small Business Administration). Additionally, lots of graduate and PHD programs do free consulting on the side. They can pull together some analytical material (expenses, need for service, etc.) that can help you get your ducks in a row.
I have my own business (have had for 12 years)....started while working full time until I got enough cash flow to do this full time.
My other career tip is to always have a Plan B in case Plan A should fall apart.
Good luck and thank you for your service.
Jeremy, Thank you for your service. I have always worked for large companies but watched my Dad, also a Veteran, run a small business for over 35 years. It is very difficult to succeed in one's own business and it requires a large amount of start up Capital (cash) My advice is that you go an work for a firm who is in a similar business to the one you wish to start. See if you like it and have the passion for transitioning to your own business.
Good morning Jeremy. This is my 16th year in business and I have learned 3 rules that apply whether you are just starting or already in business: Rule 1 is, make sure you have enough capital to pay your bills while you build business; Rule 2 is make sure that you know how to price your service/product for adequate profitability; Rule 3 is, if you don't get paid you're a volunteer. Good luck.
Brian Chapman
Hello,
Whether you are starting your first business venture or relocating your existing one, there are a number of factors that you need to consider. Developing a business plan, finding the right location, and determining ownership structure are key elements necessary to assure long term success. Research, Planning, Execution and Partnership are also key. Take your time developing your idea. Research others who have been successful in like fields. Remain excited and steadfast. Don't be discouraged! Success is eminent!
Hi Jeremy,
I admire your ambitious career goals. It sounds to me like you are uncovering an excellent idea to help other vets receive support from companies to help them transition into the work world. This pursuit is ideal in that it will help you find what you are looking for and secondly, help others just like you do the same.
To help you develop your thinking further, I suggest a good book like "I could do anything, if I only knew what it was". Written by Barbara Sher and Barbara Smith two leading career professionals.
You are receiving an abundance of really good advice through this wonderful site. It is great to see how so many services are developing and advisors are appearing to help veterans make the transition. So you have plenty of food for thought and action steps to consider.
I wish you the best and want to encourage you to return to this site with updates and additional questions as you move forward.
Larry
Whatever business you select, it is critical to determine at the outset how your business will differ from other competing businesses. Next, throughly consider how you will market your business and specifically who are the "targets", i.e., customers or users of your business. It doesn't require any investment of money to do these two things, but if you neglect them, it can be very costly. Trial and error works well in laboratories, but not in starting up a business. You will not be able to anticipate everything and you will make mistakes, but that's ok since that is how you will learn. But don't reach so far that you cannot recover quickly and all your resources are drained.
I have not read the other answers so I will only give you my thoughts. I too was in your shoes many years ago. I think completing your degree work and graduating is a priority and should not be pushed aside.
Meantime focus on work that makes you feel good. Don't worry too much about the money aspects - plan to do what you like to do and you will be a milestone ahead of the pack. At the age of 70, I can assure that whatever it is you like to do, you will be better at than most if you love it. That one fact leads to you being able to outperform the rest and make the most.
Chuck Krause
Chuck Krause
Hi Jeremy, and thanks for your years of service.
Laws in today's USA were designed for business-owners. You're embarking on a life-time journey second to none. You're doing the right thing -- so I want to pull your coat to the facts.
Every business always has 7 basic departments: Stockholding, HR, Sales, Accounting, Production, Marketing and Advertising. Large companies divide these 7 into sub-departments, and small-companies have one person doing more than one of these duties -- but all companies have these 7 departments (like all animals have the same basic organs) small, medium, large or gigantic.
In order to run your own company and be GREAT at it you must have EXPERIENCE in all 7 of these departments. To be the best CEO you can be, you should spend 7 years working for OTHER companies -- in each of these 7 departments.
This will let you see how a company works from these seven basic angles. THERE IS NO BETTER WAY TO LEARN.
Even if you get an MBA, you will still only see the tip of the iceberg of these 7 departments.
First thing to learn -- what's the difference between Sales, Marketing and Advertising? The answer is: Advertising is to attract FUTURE customers. Sales is to rap with PRESENT customers; and Marketing is to survey PAST customers.
Second thing to learn -- Accounting. You could take a four-year course in college, or you could just read the full Quick-books manual. This data hasn't changed in 300 years, and will never change in the 21st century. It's mandatory. Don't skimp on this. Accounting is the same for every company in the world.
Stockholding is also the same for every company in the world. It's all about Private Property. Keep your real-estate clean and sparkly, otherwise you risk a lawsuit in case somebody slips and falls. That sort of thing. Go public with your shares only when you must.
HR (human resources) is also the same for every company in the world. It's all about discipline -- hiring, firing, and health benefits. People are fragile and need supervision.
Production is DIFFERENT for every company in the world. Even for companies in the same business -- the Boss always has his own ideas about how to run things, and the crew better do it the Boss' way. No company can afford two leaders -- like no animal can live with two heads.
Those are the 7 basic divisions. If you know them cold, then you can start your own company tomorrow. As US history shows, a person who knows Business in the USA doesn't even need a high-school diploma, or even how to speak English. Just knowing the rules of Business (usually learned from parent to child) any person is at home in the USA, and is likely to become a millionaire -- as sure as they're born.
Why didn't I become a millionaire? I was on my way, but the Dot.com Bust slaughtered thousands of us out there. I chose the wrong Product. Oh, well, but I got back on my feet and back into the game. There is no better game in the USA -- or probably the world -- than running your own Business, Jeremy. BEST WISHES FOR YOUR SUCCESS.
Also, Happy New Year!
--Paul Trejo, MA
Jemery, The place to start is going to SCORE -- a FREE consulting service associated with the US Sm Bus Adm. Go to www.score.org and to "find a local chapter" -- put in your zip code or city/state and you'll get a list of the closest chapters.
The questions you will be asked, among others,
* is what type of business do you want to start,
* where will your business be located
* why do you believe there is a need for what the business does or sells
* what experience do you have in that field,,
* who do you believe will be the customers/clients of your business,
* how much money do you have to put into the business?
Besides these, there will be other questions, all of which are leading into doing a business plan . . .failing to plan is planning to fail . . . so the counselor(s) you will be working with will help you develop your business plan
Now, IF you are wanting advice on what type of business to start . . .well, no one can tell you that. If there were, everyone would be going into it and there may be more people in it that there are customers for what the business does/sells.
Good luck on your quest to start a business.
Alan
Hey last year I came on here and asked the same question... I got a lot of motivational help but nothing really grabbed my eye! I was a lot like you!
Wanted to give back to my brothers in arms! So I started
Junk removal and moving
I have 7 other vets working with me now and it's been growing like crazy!
If your interested in starting your own grunts move junk I would be glad to chat with you! Pick up the phone and send me a message!
8023249771
Jeremy,
You received a lot of very good advice. Best wishes to you on finding your notch!
Thanks so much for your service Jeremy. I have been a business owner for over 20 years, and my advice to you would be to pick something that you really enjoy. Starting and owning your own business is not for the faint at heart; it takes SO MUCH hard work, healthy risk taking, endless problem-solving, and an adventurous curious spirit - which it sounds like you have. But because you have to put so much of yourself into it, it isn't sustainable (and ultimately profitable) unless you find it interesting and fun. You may want to spend time at, or even work for, different companies to see what you really enjoy and find exciting. Think about how you want to spend your day, and who with (lots of people, a few close people, with customers, in the back office, high drama, slow and predictable, etc.).
Best wishes,
Beth
I have just a few things to add:
First, do not be afraid to fail. You do not need to nail it right out of the gate. The first two start-ups I tried didn't make it (and this is actually surprisingly common amongst entrepreneurs). But I learned incredibly valuable lessons.
Second, just my opinion, but don't start a company until your passion has gotten engaged in something. You have to be really into what you are doing - to get you through the tough times (and there will inevitably be tough times and plenty of disappointments if you're starting something). Work in a few places, doing different things.
Third, discover your passion by letting it naturally arise. I know there are all sorts of books and self-assessment tools out there, and they can be helpful, but I'm not sure it is possible to just conceptually "figure out" what you want to do. Don't be afraid to work in a few different companies, doing a few different things, and then just keep your eyes open - looking for what you love doing (and that even means looking at hobbies). Facebook was started by some guys in a dorm room. Bill Gates dropped out of Harvard to start Microsoft, he was just fascinated by software. Michael Dell built his first computers in the bathtub in his dorm room because he was fascinated by hardware. Jeff Bezos started Amazon by selling books out of his garage. None of them started by thinking they were going to build billion dollar businesses - they started by just being really into what they were doing.
Finally? Let me mention the one trait that I think is far more critical than any other: Perseverance. The ability to keep focused on a goal no matter what happens. To be able to work for a month on a proposal, believe you can win the business - then find out that a competitor won. And then wake up the next morning as though the disappointment never happened - with a powerful and positive attitude and the same belief that you'll win the next contract you bid for. Fortunately, in my experience, the US Marines develop that in soldiers at almost extreme levels (hell, the majority of Americans couldn't even make it through boot, let alone serve). The mental toughness - the ability to stay disciplined under fire - may, in the long run, prove to the single most valuable thing the Marines gave you. Especially if you are going to build a business from scratch.
Good luck!
HI Jeremy,
Thank you for your service and I commend you for wanting to start your own business. Wanting to help other veterans with job placements and bridging that gap is a great cause and I would highly suggest starting to look at large companies that have veteran/military programs in place. For example my company (approx. 55,000 employees) has a group within the recruiting department dedicated to finding/helping/hiring veterans into various jobs. Getting into a department like that would give you hands-on experience of how to truly help fellow military personnel and one you learn the skills then you can focus on how to transition that into a new business (profitable/marketable).
Good Luck,
Nicholas Conte
Jeremy, thank you for your service. Objective self-assessment can help identify personal interests/capabilities on which your business could capitalize and my April 2013 posting offers a variety of free/low cost tools to consider, "What are best tools for veterans to self-assess their aptitude, capabilities, and interests?"
Good luck, Bill Nobles
Sounds to me like Career Placement and Recruiting could be a business for you: this would satisfy both starting your own business and building it, as well as helping other vets.
Your specialty could revolve around getting vets both trained and placed (or placed first, with an employer commitment to train), on a % of salary fee basis so you could build a revenue stream. Eventually, prior placements could also become reference points for getting new vet candidates placed.
Just one person's reaction . . . Jeremy S.
Hi Jeremy,
Saw your request for thoughts on your starting on owning a business, but seeking direction on what to choose. Yes, the options are so many that it sometimes tend to paralyze us and keep from making a decision. Having been around young folks all my life (past 30 years in Higher Education) who were going through similar dilemmas, I perhaps could offer a couple of thoughts that might help you, if not choose, narrow them down significantly. So, here goes nothing.
Ask yourself some serious questions and make sure you are absolutely truthful to yourself and they are:
1) Make a list of at the most 10 business that you would like to start; important that the choices are less than 10 - use your own personal criteria to distill the list but do make sure to rank them
2) Why do I want to start a business (make a very good living, do what I like to do, manage/control my future greater degree, etc.) - obviously the answers could include multiple factors in it. If there is more than one, rank them. Now, look at the list in step 1 and see if they all meet the criteria you chose in step 2. Do things need to be eliminated or re-ranked on the basis of your analysis?
3) We as human beings think that we are good at multiple things; and rightly so. However, once in a while we need to discover if we really are good at it, or do we just think we are. So, first create a list of about 10 strengths (BTW there is nothing magic about 10 items; it could be 12 or 8, but it has to be finite). After you draw the list of your strengths, ask family, friends and colleagues to rank them for you (independently). You might discover/re-discover strengths as part of this process.
4) Another helpful step in the process if making sure you have some very specific numeric targets/goals. For example: I want to earn $1 Million within 5 years, retire at age 40, having a savings account with X dollars by n date, etc. etc. Here again, look at the lists you have created in step 1 above and see if you are being realistic given your targets.
5) If you are near a campus, they probably have a Small Business Development Center; if not, you will find many on the net; seek feedback with very specific questions. However, by this time you have to have very specific plans, targets, forecasts, etc.
6) Read up./research the business options you were thinking in step 1. Is it a totally new idea, is the market saturated with providers, is the capital requirements feasible; there are many, many questions in this specific category.
There is no magic to any of the things I have listed above; it is just there to make sure you are following some sort of process in your decision making. Ten business books will give you 100 different methods; however, the method you choose has to match your analytic strengths.
Share your thoughts with family, friends and colleagues; once you make a brief statement or ask a question, just keep quiet and listen; do not worry about having to respond, just listen. If there is anything I can help you with, please do not hesitate to ask.
Here is wishing you the very best, Jeremy. And by the way, thank you for your service to the nation. Here is wishing you a joy-filled, fulfilling and happy new year full of accomplishments.
Regards,
Ravi
Jeremy:
At least you recognize the importance of starting a company. It's all about finding a need you're passionate about; then rolling up your sleeves to get it done.
The good news is that there are all kinds of programs for veterans that want to start a business like this one: http://ebv.vets.syr.edu/veterans/program-schedule/
Also, the Small Business Administration has loan programs specifically for veterans. I believe you can get a loan for up to $500,000.
As far as helping other veterans, that is a noble thing to do. I suggest you focus on making your business a success first and then using some of that money to help other veterans.
I highly recommend you read the book "Do You" by Russell Simmons. It'll give you some great ideas.
Jeremy,
Re: trying something and not liking it - Unfortunately, at least for me, trial and error is the way of the world. However, there are ways to figure out what are the better of several choices.
What has worked for me in the past is to make a detaled, honest list of the positives and negatives of anything I'd like to do. By contrasting each position individually, I'm then able to look at the benefits and detractors of each position, and in doing so, make a better decision as to what I want to do.
It requires you to be honest with yourself. If you can't be honest with yourself, this doesn't work as well.
You can do a lot with a BS in Business. You can do more with a MBA. What would keep you from pursing a MBA?
Respectfully,
George Wilhelmsen
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