Five Tips To Help Veterans Start a Business

Five Tips To Help Veterans Start a BusinessAfter serving a stint in the military, sometimes under traumatic conditions, discharged veterans who arrive home are intent on continuing with a normal civilian lifestyle. This includes employment, and for the adventurous entrepreneur, the desire to start a business of their own. Veterans are well advised to follow some simple tips to help them start a profitable business that is civilian friendly and economically sound.

Franchise Options

One of the best ways for veterans to open a business is to consider a franchise operation. This could be advantageous in reducing start-up costs since many franchise corporations are likely to provide a special discount to veterans. This is where a company like Omni Financial would offer the best rates and financial plans for a new start-up business operated by a veteran. A franchise is an especially attractive venue since it can involve several veterans who have been tied to the same military branch and know each other. Their collective regimentation works as a bond which ties them to the same ideals, organizational skills and loyalties. Veterans will see opening up a franchise as just another mission to be accomplished. A franchise run by veterans will provide job openings for other veterans who return home and are seeking employment.

Civilian-friendly Experience

When meeting with lenders as it pertains to start-up costs, veterans should explain how their skills are directly related to their business endeavor. This should include any leadership responsibilities associated with rank, management skills and training positions. Any type of training related to the business should be itemized. For example, food preparation, medical training, electronic training and theory, mechanical aptitude in vehicle engine repair, watercraft, aircraft, engineering, satellite and radio and other pertinent crafts and skills will help define a solid portfolio.

Programs For Veterans

Veterans should seek out and enroll in entrepreneurial programs specifically for them. The popular Boots to Business program offers an eight-week course that covers a limited MBA course outline. This program is a combined cooperative effort between the U.S. Small Business Administration and the Whitman School of Management. The course outline aids veterans in concentrating on the basic requirements of starting a successful business. There are additional programs designed to aid veterans in business start-up and management, many of them listed online or in the local telephone directory.

Networking

Associations like the National Veteran-Owned Business Association has training and advice for veterans who wish to start their own business. They provide instruction on the many financial issues associated with business operation, including routes and strategies for obtaining start-up capital and instruction about profit and loss, hiring and tax information.

Battlefield to Business

Veterans will do well to apply their military training and battlefield experience when running a successful business. This means remembering important disciplinary instruction, the “calm under fire” motto and the courage and optimism to see a job or task through to completion. Veterans shine when it comes to overcoming obstacles, solving on-the-spot problems and issues and using logical compromise. Veterans are used to stressful situations and this will help with their day-to-day business operations.

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