Five Tips to Help Veterans Succeed in Starting a Business

Five Tips to Help Veterans Succeed in Starting a Business
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Here are five tips and resources to help veteran entrepreneurs start, grow and succeed in business:  

1. Qualities that make veterans good business owners: Approximately 2.5 million veteran-owned businesses in America represent 9.1% of all U.S. businesses. A cognitive framework and worldly experience obtained through military service create successful business owners who are innovative, adaptable and decisive!

2. How you can test a business idea: Do your homework. Conduct the proper market research. Share your business idea with family, friends, colleagues and mentors. Identify all the reasons why the business won’t work and then seek solutions to the challenges.   

3. What are some things to consider when choosing the right business structure: Take advantages of the resources offered by the SBA’s Veterans Business Outreach Centers (VBOC) and Service Corps of Retired Executives (SCORE) programs.  

4. Tips to help veterans prepare when seeking to access capital: Contact the Department of Veterans Affairs and SBA. They have several assistance programs available to help you navigate your options and select what is right for you

5. Do your research: Expand your network.  Attend outreach, seminars, and symposiums to make valuable connections and learn more about the business.

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About the Author

Col. Brian D. Anderson, USAF (Ret)
Col. Brian D. Anderson, USAF (Ret)

Anderson joined the staff of MOAA's Career Transition Services Department in August 2011. He served 26 years in the U.S. Air Force in a wide range of command and staff assignments. Connect with him on LinkedIn.