5 Things to Know as an Entrepreneurial Military Veteran

veteran-owned business

Military veterans aren’t just national heroes who deserve to be celebrated. They’re actually incredibly well-suited to entrepreneurship. Among other things, veterans tend to be exceptionally confident, disciplined, and organized. They have razor sharp instincts when it comes to spotting opportunities and assessing risk as well.

If you’re thinking about starting your own veteran-owned business, keep the following tips in mind to increase your chances of success even further.

  • Identify a Niche 

First thing’s first: spotting the right business opportunity to take advantage of. Maybe you already have an excellent idea in mind, but don’t worry if you don’t. You can identify a great idea (or several) by talking to people and figuring out which needs in your community are going unmet. Sooner or later, you’ll hit on one that seems perfectly suited to your skill set.

  • Leverage What You Know

Military service offers people a wealth of opportunity to not only learn new skills, but develop existing ones. Many of those skills could really come in handy when it comes to establishing and running a veteran-owned business (e.g. healthcare expertise, engineering skills, or tech communications experience). What did the military teach you that would translate well into a valuable service to civilians?

  • Play to Your Strengths

In addition to knowing what you can do and who you want to do it for, it’s imperative that you really know yourself. Good entrepreneurs have a crystal clear understanding of their own strengths and weaknesses. They know which tasks they’ll be great at handling themselves and which would be better delegated to a business partner or other team member.

  • Learn from the Best

You’re not the first veteran to think about starting a business, but you can accomplish a lot by learning from those that have come before you. There are also many resources and mentorship programs out there designed especially with the needs of veteran entrepreneurs in mind. Seek them out and take advantage of them.

  • Choose Financing with Care

Perhaps the hardest part of getting even the best business idea off the ground is securing financing, but the potential owner of a veteran-owned business is really in luck here. As a veteran, you have access to special programs and financing options that aren’t available to just anyone including microlending options and specialized SBA lending programs. There are lenders out there that believe in what you bring to the table and want to be part of your ongoing success. Used them to your advantage today, and step into your new future tomorrow.


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