Military service translates well into entrepreneurship. Many veterans go on to be successful business owners, but the path to success isn’t always easy. You have many skills and the confidence to be your own boss. If you’re starting a veteran-owned business, here are some tips.
- Stick to your passions and knowledge. Don’t try to reinvent yourself as a veteran-owned business. Take the knowledge you have and put it with your strengths to be an entrepreneur.
- Know what you excel at and where you’ll need help No military operation would ever get off the ground without taking a good look at the strengths and weaknesses of the campaign. Outsource tasks that you might struggle with, such as setting up your accounting or marketing, to give you time to focus on what you do best.
- Get advice for others who know what you’re going through. Find a SCORE mentor. Contact the experts at Vetbiz.gov. Look for other veteran-owned businesses in your community that can help you find avenues for information. You’re not alone. You don’t have to know it all. You just have to know where to find the answers.
- Recognize your business is in finding a solution for your customer. The best ideas for business are in hitting a customer’s pain point. You may have the greatest idea in the world, but if customers don’t need your service or product, they won’t buy. Find a need and fill it.
- Take advantage of financing options for veterans.
Your military status has provided some great benefits. As a veteran, you qualify for financing options through the SBA, VA and other lenders. Don’t be afraid to ask for programs due to your service.
Safe Harbor Commercial Capital offers financing options for veteran-owned businesses like yours. Contact us today for more information.