Here is a short article from John Aidan Byrne at the New York Post. In Module 6 of VETToCEO Entrepreneurship for Transitioning Warriors we discuss sources of funding for veteran entrepreneurs. We detail all of the different ways that military veterans can fund their business idea. Many veterans think that a bank loan is the only way to secure funding. In class we find that banks are just one of many sources of capital. This article deals specifically with banks. The Biz2Credit Small Business Lending Index offers you great information on loan approval rates for the various lending entities available.
Here is an interesting article by Robb Wong at the SBA.This article is good news for veteran entrepreneurs that participate in Federal Government contracting. Whether or not you believe the numbers that our Federal Government reports on itself, this still shows excellent opportunity for military veterans. In Module 3 of Entrepreneurship for Transitioning Warriors we discuss government contracting and the opportunities available to military veterans. The shear size of the potential market should encourage military entrepreneurs consider government contracting.
Veterans and transitioning military should consistently gauge the market when planning their leap as entrepreneurs. As we discuss in Entrepreneurship for Transitioning Warriors, markets are constantly changing. The perspective of other entrepreneurs is one of many valuable indicators. Here is a great indicator offered by NFIB that you should include in your decision making process.
In Session 1 of Entrepreneurship for Transitioning Warriors we discussed the different ways that military entrepreneurs can get into business. Here Jerry Shaw at Newsmax added to a previous post by David Shutler, President and CEO of Utility Systems Solutions, Inc. who writes for Entrepreneur. This excellent article reinforces what we discussed in class. Jerry offers many tips that potential business owners need to consider. Understanding these tips will help you determine whether entrepreneurship is right for you. We will discuss this this again in class.
VetToCEO's 23rd cohort begins on September 5th! Help spread the word. Our program is open and free for honorably discharged veterans and current members of the Active Duty, National Guard, and Reserve components. Join our veteran facilitators and distinguished veteran guest speakers as we go through our 7-week program together. Learn more on our programs page. Our program is online so it doesn't matter where you live - even if you're deployed - bring it!
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.
In class, Entrepreneurship for Transitioning Warriors, we discuss getting verified or certified as a VOSB or SDVOSB in order to do business with the Federal Gov't. Here is a great article by Steven Koprince, the Managing Partner of Koprince Law LLC, a law firm dedicated exclusively to providing legal solutions to federal government contractors. As military veterans and entrepreneurs we need to understand the minute details of being a Federal contractor. Here is some news that is long in coming. Finally, someone decided to try to use one definition in the Federal Gov’t.
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.
In class, Entrepreneurship for Transitioning Warriors, we discuss the different ways to get into business. This is a topic that frequently comes up from military veterans during the legal session of class. Dana Manciagli, a Contributing Writer at the Atlanta Business Chronicle offers some excellent points below that are right on the mark. Dana offers the three ways to get into business. Many military entrepreneurs begin by thinking they want to strat a business from scratch. There are other ways that should be considered as you see below.