By Dr. L.H. Taylor: President/CEO of Veterans Business Partnership
The prospect of becoming a successful entrepreneur is exciting and exhilarating. Becoming your own boss, doing your own thing, taking the risk and enjoying the spoils is where the action is. After all, what could be better than controlling your own destiny?
For veterans and spouses, the journey to entrepreneurship can be equally exciting and at the same time, perplexing and challenging. Transitioning from military readiness to the revenue game could be analogous to aspiring to become a big star in Hollywood. The glitz and glamor; the lights and action; and the excitement of big money can be intoxicating. The vision of the bells and whistles may block their view or fog up the rose-colored glasses through which they view this new paradise. Then comes the reality of it all; not everyone makes it to Hollywood.
One of the most challenging questions regarding entrepreneurship is, “where to begin.” The answer to that question could very well determine success or failure for many transitioning service members and their spouses. Fortunately, there is an answer to that question.
Get a Head Start
First, let me suggest that a two-year head start on career transition is not unthinkable for those who have not done so already. The secret for transition success starts with the local installation Transition Assistance Program (TAP) office. The DoD TAP program has teamed up with the Small Business Administration (SBA) to offer exceptional entrepreneurship training to transitioning personnel courtesy of twenty-two regional Veterans Business Outreach Centers (VBOCs) across the country.
Over the course of the suggested two years, a veteran or spouse can take part in the two-day SBA VBOC Boots-to-Business (B2B) training as many times as they desire. Beyond the two-day TAP-VBOC presentation, SBA sponsors a robust array of (free) follow-on training, that includes counseling, and mentoring to jump start these future entrepreneurs. The VBOC offerings under TAP are the place to start the transition journey to entrepreneurship. VBOCs then, will reach out to community partners such as Small Business Development Centers (SBDCs), Women’s Business Centers (WBCs), and Service Corp of Retired Executives (SCORE) to assist according to where a client is in their journey.
Military members and their spouses are more than adept at and equipped with the skills and temperament for becoming successful entrepreneurs. The big “however” is that nothing advances the cause of entrepreneurial success more than advance planning. Many of my clients who ultimately succeed are the ones who have researched their ideas and invested sufficient time and energy to do the homework necessary to get their enterprises off the ground. The ones who do not, are generally not as successful, or fail to launch their dreams. VBOCs are designed to help get start-up entrepreneurial initiatives off the ground. For qualified veterans and spouses, their services are free.
Entrepreneurship is an exciting proposition. It is a pathway to self-expression and freedom to control one’s life. On the other hand, entrepreneurship can be extremely demanding, perhaps exhausting, and sometimes disappointing when things fail to go as planned. Entrepreneurship is not just the act of starting a business, or just about being in control of your own destiny. It is not a one-off point in time when you open the doors to your business and start to rake in the money. Entrepreneurship is a lifestyle; it demands full-time care and feeding. It transcends every aspect of one’s life. It is a twenty-four-hour, seven-day-per-week proposition. It becomes a living, breathing member of your life.
Before you take the plunge, contact your local VBOC for support. VBOCs work closely with their community counterparts and can help determine when additional support might be needed.
Take a smart tip from a veteran entrepreneur turned VBOC Director, contact your nearest Veterans Business Outreach Center, introduce yourself, share your dream and start your exciting journey toward successful entrepreneurship.
Source: Veterans Business Partnership