As we frequently mention in class, Entrepreneurship for Transitioning Warriors, the government is the largest buyer of stuff and buys almost everything. Because each of you worked in the government, to me it only makes sense that you would sell to the government if your product or service meets their needs. Here is an article by Marco Terry, the managing director of Commercial Capital LLC, a company that provides invoice factoring, purchase order financing, and asset-based lending to small and midsized companies. Terry offers some great points about selling to the government.
Last week in class, Entrepreneurship for Transitioning Warriors, we discussed the challenges of maintaining cash flow in your business. Here is an article about factoring which is one of several solutions to improving cash flow. Here Marco Terry, the managing director of Commercial Capital LLC, offers a thumbnail on factoring. Factoring is not for everyone as you'll see below, but for many veteran owned and military entrepreneurs it is a viable solution to preserving cash. The key for veteran owned businesses is to find the right cash flow solutions for you.
I know that I'm a little late with this post, but this article is important to those of you considering buying a business. Here Urvaksh Karkaria at the Atlanta Business Chronicle describes businesses selling in the Metro Atlanta area, but the information my very well apply to your locale. As we discuss in class, Entrepreneurship for Transitioning Warriors, when a veteran plans to buy a business there are many factors that must be understood. One of those is the changing market for businesses. Prices rise and fall just like with other commodities. It is important for veterans to understand these price changes and factor the changes into the decision making process.
VetToCEO announces that enrollment is now open for its 21st Entrepreneurship for Transitioning Warriors cohort. This 7-week, online program will have a focus on franchising as a route to becoming a veteran entrepreneur. Join us as our facilitators and guest speaker cadre guide participants through a business planning curriculum tailored for those of us with military experience. Our sessions are online and collaborative.
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- Still active or a veteran just interested in exploring entrepreneurship? Join us. Kick the tires. See if entrepreneurship is right for you.
- Already have a business? Join us and learn how to improve your business. Learn from our experienced fellow veteran guest speakers.
- Don't know anything about business? Who cares. You didn't know anything about the military before you joined either. You'll get a well-rounded orientation to what it takes to be a successful entrepreneur.
- Broke? No capital? Don't let that stop you. We'll cover the variety of funding sources available. There's more than you think - a lot more than just a bank loan.
- Deployed or have a day job? No worries. You're welcome in our program. Live sessions occur each week at 7 pm EST. These live sessions are recorded for those in challenging time zones.
Approximately 1% of us serve our Nation under arms, yet 9% of the small businesses in this country are owned by veterans. Coincidence? Probably not. Apply your leadership and decision-making skills to creating your own destiny as a civilian. Discover how your military skills translate into the core DNA we need as entrepreneurs to be successful.
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Funding your business can be a complex challenge for military veterans. There are various sources of funding available. The challenge is determining which source is the best for you. Please read on for those of you considering investors for your business. Here Urvaksh Karkaria at the Atlanta Business Chronicle describes the status of venture capital in Georgia, but the information my very well apply to your locale. As we discuss in class, Entrepreneurship for Transitioning Warriors, venture capital investment is one of the many forms of raising money that a military veteran must understand.
As a veteran and entrepreneur, at some point you will likely need some outside funding for your business. There are many resources to condider just like we discuss in class, Entrepreneurship for Transitioning Warriors. Trying to determine which source of funding is the best for you is the challenge. Here are ten helpful things that I found on the Atlanta Business Chronicle. It can be mind boggling because there are so many different lenders that offer so many different products. Choosing the best fit is key to success. As part of your search I recommend that you take a look at the SBA wedsite and especially the SBA Linc Tool. You may be surprised at local funding sources available to you.
Here is a short article by Marco Terry with five great ideas. In class, Entrepreneurship for Transitioning Warriors, we discuss the challenges associated with finding the money necessary to start and run your veteran owned business. It is not easy. That money can be a recurring issue. Cash flow planning is critical to success and vetrepreneurs need to look everywhere. Marco Terry has some experience in this field. He is the managing director of Commercial Capital LLC, a company that provides invoice factoring, purchase order financing, and asset-based lending to small and midsized companies.
Here Harvey Mackay shares his thoughts on SharkTanks Daymond John. The points here should ring true to many military veterans pursuing the entrepreneur path. In class, Entrepreneurship for Transitioning Warriors, we discuss the challenges associated with starting a new business or buying an existing business or franchise. Operating capital and its sources are on forefront for military veterans. If being an entrepreneur was easy then everyone would be doing it. The truth is that it is not easy as you can see below and veterans are well equipped for the hard road.