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March 25, 2017
The Veteran’s Guide to Getting Started as a Business Owner
When it comes to being a business owner, there are a few strengths veterans bring to the table that leave them poised for success. Running your own business is a risky proposition that needs a ton of hard work — the bravery and discipline developed during service is extraordinarily relevant and empowering. If you’re a vet with a great idea and the urge to pave your own way forward in your career, starting a business might be the right next step for you.
Despite the strengths vets bring to the table, however, entrepreneurship can be an intimidating field to get started in. There’s a lot to figure out, and although Semper Fi Design can help you create a high-quality website and video content, we know that’s only one part of the business ownership puzzle. Here’s a look at some of the things you need to consider to get your big idea off the ground:
Your first steps should be figuring out the basic steps your business will need to thrive. For example, if you plan to primarily sell a service, how will you perform that service? Will you do your work solo, or will you be hiring employees? Does it make sense to start out in a freelance capacity and transition to a company once you have a larger client base? Many new business owners thrive on this type of model since it allows you to ease into the process and get your footing before you fully invest.
Start with the basics
This is also the right time to think about whether or not it makes sense to form an LLC. The designation isn’t necessarily right for every business, but if you’re doing work that will take on any kind of legal risk, it’s usually wise. An LLC status puts a layer of legal protection between your personal and private assets — meaning you may lose your business in a lawsuit, but you shouldn’t lose your retirement savings. It can also offer tax advantages in certain situations, so read up more about the rules in your state to see if this designation makes sense for you.
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Think About Marketing
Getting a business off the ground is, more often than not, a matter of marketing successfully. Now, this doesn’t necessarily mean traditional advertising. Indeed, more nuanced marketing such as creating digital content can be even more effective in today’s market. At the very beginning of starting a business, your first steps should include creating a stellar website that catches people’s attention and funnels them toward using your service or product.
Many people are intimidated by creating a website, but Semper Fi Design is proud to help veterans navigate this process with confidence. We can help you figure out your options as far as website affordability, domain hosting, and designing the site itself. With a good team on your side, you can make a website that looks great and achieves your goals.
Look Into Funding Options
Financing a business gets expensive, fast, which is why it’s so important to make sure you know what your options are for funding. Fortunately, there are a ton of resources out there for veterans who’d like to start their own business. Your first step should be checking out the Office of Veterans Business Development, which is an office of the Small Business Administration meant to boost former service members’ businesses and help them to succeed. They can point you toward loan and grant programs designed with your needs in mind.
Many areas also have local or private organizations designed to provide support for veterans starting a business. Reaching out to regional veterans services or even your local chamber of commerce can be the perfect way to get connected with those resources and get the help you need to succeed.
Running a business gives you the freedom to define your own future and create a business based on your own ideas. Give yourself a strong start and make use of the resources available that are designed to help you thrive. Soon you’ll be making your dreams a reality.
Looking for web design or video work for your budding business? Semper Fi Design can help! Reach out for a quote today. 803-237-2209
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