The Road From Military Service to Entrepreneurship

Many U.S. veterans struggle to reenter the workforce after their service, but this shouldn’t be the case. If you have found that potential employers can’t see the value you bring from your military experience, then go out on your own as an entrepreneur. Veterans have a lot of skills and knowledge, plus a unique set of skills that can be applied to entrepreneurship. You may find that you can leverage your military experience in a way that translates well toward business ownership. Here, GigWorx provides some advice for any veterans who want to move forward with their own business.

Resources Available

Take advantage of any and all resources available to you because of your service. You have earned it.

• The Department of Veterans Affairs - The Department of Veterans Affairs provides assistance for veterans, as well as their spouses and dependents, with obtaining benefits, medical care, and other services.
• Small Business Administration - The Small Business Administration offers several programs and services for small businesses, including loans, training, mentoring, and more.
• SCORE - SCORE is a nonprofit association that was established by the U.S. Congress in 1964 to provide counseling on starting and managing small businesses for U.S. entrepreneurs.

Business Ideas

A few business choices that require very little overhead and can be operated from home are freelance writing, freelance IT work, online tutoring, and teaching. Some other businesses will require start-up funds, such as construction, trucking, manufacturing, security, or a computer repair company.

One business sector that is fast-growing and well-suited to those with a military background is the medical field. A Medical Transportation Business, Wellness Coaching Services, Drug Treatment Center, In-Home Patient Services, or Medical Waste Removal Services, among many others, can be very lucrative. GigWorx is a great resource for finding open positions in healthcare and hospitality. Just download the app and start accepting shifts.

Business Planning

If you already have a great idea for a business, then you will need to decide on a name for your company and choose how you will structure it. The structure you choose will determine the type of paperwork required, the amount of liability protection, and the tax benefits you’ll receive. Many new business owners choose an LLC structure to protect their personal assets.

A business plan is a critical first step. It will be your roadmap for how you’ll proceed with your business, from marketing to funding to what professionals you’ll need to work with. You can find online templates to help you write your business plan. This will take some time because it requires research as you go.

Market research will help you identify where your target market is, the best way to reach them, and their demographic and purchasing habits.

Marketing

Marketing is a critical part of any business. It can be the difference between failure and success. One way to reach the largest audience is through social media. There are several big social media channels that you should consider, from Facebook to Instagram and Tiktok. You’ll need to understand your target market because who you are targeting will also tell you where to find them.

If you find yourself working with many clients and vendors, it’s best to make sharing files easy for everyone to navigate. Use a PDF converter tool to convert all your different files, like Word, and Excel, to PDF format before sharing.

Apps and Software

Take advantage of free business tools to make running your business more efficient. An invoice template allows you to create invoices that are professional, easy to read, and easy to understand and ensures accuracy so that you don’t end up with any discrepancies or errors in your financial records.

A calendar app that can be shared with a business partner will allow you to keep on task and divide responsibilities, making sure nothing falls through the cracks.

Payment apps allow you to securely collect money from your clients on the go. The best payment apps offer compatibility with a wide range of credit and debit cards, quick transfer speed, and support for a wide variety of devices.

Develop Your Business Skills

You may find during this process that you could benefit from a little more formal training in something business related, which is completely understandable. Even the most skilled entrepreneur can learn a thing or two about certain aspects of their business. Now might be a good time to go back to school. And, in fact, your veteran status will grant you education and training benefits that you should use.

There are great online degree programs from accredited universities with different types of degree offerings related to business. You can choose from options like accounting and financial planning to leadership and industrial-organizational management. Review the course offerings and think about which option will best help you to be a better business owner.

Move Forward with Your Ideas

The post-military world is a new and exciting place for veterans. There are many opportunities for you to start a business and there are resources you can use to make the process easier. Choose an idea that builds on what you know, and then use your veteran benefits to expand your business knowledge with a degree. You’ll see that your hard work and planning will yield positive results.

In the meantime, use GigWorx to supplement your income. Check out the app and sign up today!