Starting a business after military service can be a rewarding way to apply your leadership, discipline, and problem-solving skills. Here’s a quick guide to help veterans transition into entrepreneurship:
- Evaluate Readiness: Assess your military skills, perform a personal SWOT analysis, and review your finances.
- Find a Business Idea: Identify market gaps, apply your expertise, and test your ideas with tools like the Boots to Business program.
- Leverage Resources: Use veteran-specific programs like VBOCs, SCORE mentorship, and SBA funding options.
- Create a Business Plan: Write a detailed plan covering your mission, market analysis, operations, and financial projections.
- Secure Funding: Explore VA loans, grants, government contracts, and alternative financing options.
Veteran-focused programs such as the SBA’s Boots to Business and Veterans Business Outreach Centers provide essential training, mentorship, and resources to help veterans succeed. Ready to start? Begin by assessing your skills and connecting with these resources.
Veteran’s Guide to Starting a Business: Grants, Benefits, and Key Steps
Check Your Business Readiness
Before starting your entrepreneurial journey, take a moment to assess how your military background, skills, and current circumstances match the demands of running a business.
Military Skills in Business
Your time in the military has equipped you with abilities that can directly contribute to success in business. Here’s how some of those skills translate:
| Military Skill | How It Applies in Business |
|---|---|
| Crisis Management | Handling unexpected challenges and market shifts |
| Strategic Planning | Crafting effective business strategies |
| Team Leadership | Building and maintaining a strong company culture |
| Logistics Experience | Overseeing supply chains and daily operations |
| Flexibility | Adjusting to evolving market conditions |
Personal SWOT Analysis
Perform a SWOT analysis to get a clear picture of where you stand as a potential business owner:
Strengths:
- Leadership and technical expertise gained during service
- Problem-solving under pressure
- Access to professional networks
Weaknesses:
- Limited experience in business operations
- Gaps in marketing and financial knowledge
- Lack of familiarity with certain industries
Opportunities:
- Access to veteran-specific funding and contract programs
- Connections within the military community
- Industry niches where your skills are a good match
Threats:
- Competition in the marketplace
- Economic uncertainty
- Regulatory and resource challenges
Money and Risk Assessment
Being financially prepared is a key part of starting a business. Focus on these areas:
| Factor | What to Consider |
|---|---|
| Savings | Do you have enough for startup costs and living expenses? |
| Current Debts | Are there any outstanding financial obligations? |
| Credit Score | Will it help you qualify for financing? |
| Risk Tolerance | How comfortable are you with financial uncertainty? |
"Veterans can reduce financial risks by creating a solid financial plan, diversifying income sources, and keeping an emergency fund. VA loans and grants can also provide a safety net to minimize personal financial loss."
Organizations like Veterans Business Outreach Centers (VBOCs) and SCORE offer free consultations to help assess your readiness for entrepreneurship.
Once you’ve evaluated your readiness, the next step is to identify a business idea that fits your skills and market needs.
Find Your Business Idea
Spot Market Gaps
Tools like Google Trends, market research reports from VBOCs, and social media platforms can help you identify trends, underserved markets, and customer challenges in your field. For example, if you have experience in military logistics, you might uncover inefficiencies in local supply chains or delivery systems that need better solutions. Your military background can give you an edge in tackling these challenges effectively.
Apply Military Expertise
Veterans bring a unique set of skills to the table. Take Black Rifle Coffee Company, for instance – it’s a brand that successfully built on military experience. Skills like cybersecurity, medical training, and logistics management can translate into business opportunities in IT security, healthcare, or supply chain improvements. Once you’ve matched your expertise with a market need, the next step is to validate your business idea.
Test Your Idea
The SBA’s Boots to Business program provides a structured way to test your business concept, which has contributed to the growing number of veteran entrepreneurs [2]. Testing your idea reduces risk and ensures it meets market demands.
Here are a few ways to validate your idea:
- Talk directly with potential customers to understand their needs.
- Develop a minimum viable product (MVP) to test your concept.
- Study your competitors and their pricing models.
Platforms like SurveyMonkey can help you collect valuable feedback. You could also run a small pilot program to test your product or service. VBOCs are a great resource for analyzing market research and refining your approach.
Many successful veteran entrepreneurs adapt their initial ideas based on what they learn during testing. Flexibility is key – be ready to adjust your concept as needed. Programs like Boots to Business Revenue Readiness have shown that proper validation can significantly improve your chances of success [2].
Veteran Business Resources
Veterans have access to specialized support through the Department of Defense and Small Business Administration (SBA). These programs are designed to help veterans succeed in their entrepreneurial ventures.
Once you’ve validated your business idea, these veteran-focused resources can provide the tools and guidance to help you take the next steps.
Boots to Business Program
The SBA’s Boots to Business (B2B) program is a key initiative for military members transitioning into entrepreneurship. This program starts with a two-day course covering business basics and offers advanced training through "B2B: Revenue Readiness", a collaboration with Mississippi State University.
In 2023, over 1,200 B2B and B2B Reboot sessions were held both in-person and online [2]. These sessions cover essential topics like:
| Training Area | Key Components |
|---|---|
| Business Planning | Market research, financial projections, legal steps |
| Funding Strategy | VA loans, grants, investment opportunities |
| Market Analysis | Identifying customers, analyzing competitors |
| Operations | Managing supply chains, inventory, and staffing |
Veterans Business Centers
Veterans Business Outreach Centers (VBOCs) are regional hubs offering tailored support for veteran entrepreneurs. There are 28 centers across the country where veterans can access:
- One-on-one consulting and business planning assistance
- Training workshops and educational programs
- Help with market research and financial planning
- Connections to a network of SBA resource partners
To find your nearest VBOC, visit SBA.gov/vets. These centers also work closely with other SBA partners, such as Small Business Development Centers and Women’s Business Centers [2].
SCORE Mentorship
SCORE’s Veteran Fast Launch Initiative pairs veterans with experienced business mentors who volunteer their time. Through this program, veterans can benefit from:
- Free one-on-one mentoring
- Online workshops tailored to veteran entrepreneurs
- A network of successful veteran business owners
"The SBA’s Office of Veterans Business Development works through an extensive resource partner network to ensure veterans receive the support they need at every stage of their entrepreneurial journey", says a senior SBA official [2].
These resources are designed to help veterans build a strong business plan and explore funding opportunities tailored to their needs.
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Business Plan and Funding
Write Your Business Plan
A well-thought-out business plan is essential for success. Veterans can apply their military planning skills to craft detailed plans that outline their mission, resources, and strategies for execution.
| Business Plan Section | Military Connection | Key Components |
|---|---|---|
| Executive Summary | Mission Brief | Business concept and goals |
| Market Analysis | Intelligence Report | Market and competitor analysis |
| Operations Plan | Standard Operating Procedures | Operations and supply chain |
| Financial Projections | Resource Assessment | Costs, revenue, break-even analysis |
Once your business plan is ready, the next step is securing the funding to turn your ideas into reality.
VA Funding Options
The Veterans Business Fund offers financing tailored for veteran entrepreneurs. A standout program is the Hiring Our Heroes grant, which provides $10,000 to eligible veteran-owned businesses with 3-20 employees [3].
To qualify for VA funding, you’ll generally need:
- Proof of veteran status and business documentation
- A complete business plan
- Evidence of financial need and creditworthiness
If VA-specific funding doesn’t meet your needs, there are plenty of other options to consider.
Other Funding Sources
Veterans can tap into a variety of funding opportunities beyond VA programs:
Government Contracts: The Service-Disabled Veteran-Owned Small Business (SDVOSB) program reserves certain contracts for service-disabled veteran entrepreneurs [4]. These contracts can provide reliable income for eligible businesses.
Competitive Grants: Programs like the Second Service Foundation‘s Military Entrepreneur Challenge allow veterans to pitch their ideas and compete for funding [3]. This not only offers financial support but also opens doors to valuable networking opportunities.
Alternative Financing: The Institute for Veterans and Military Families connects veterans with funding through:
- Angel investors who focus on veteran-led businesses
- Crowdfunding platforms
- Traditional bank loans
- Microloans
These funding options can work alongside VA programs, offering veterans more ways to secure the resources they need [1].
Veteran Business Success Stories
There are plenty of examples showing how veterans have transitioned from military service to thriving business ventures. Take Black Rifle Coffee Company, started by Green Beret Evan Hafer, or Red Oxx Manufacturing, founded by veteran Jim Markel. Both businesses have successfully applied military principles – like precision and durability – to carve out strong positions in their respective markets.
Another standout is Team Red, White & Blue, which has turned the concept of military-style teamwork into a community-driven enterprise, bringing veterans together through events and activities.
| Company | Founder | Military Background | Key Strength |
|---|---|---|---|
| Black Rifle Coffee | Evan Hafer | Green Beret | Precision in coffee roasting |
| Red Oxx Manufacturing | Jim Markel | Military Veteran | Focus on durability |
| Team Red, White & Blue | Veterans Coalition | Multiple Veterans | Community-focused model |
These ventures show how veterans can use their skills to identify market opportunities and build successful businesses. Programs like Warrior Rising play a big role in this process, offering a structured six-step program to help veterans turn their military experience into entrepreneurial success [1][3].
The Second Service Foundation’s Military Entrepreneur Challenge has also been instrumental, providing competitive grants to launch veteran-owned businesses [3]. Meanwhile, organizations like Bunker Labs help veterans find clear, structured pathways to build and grow their businesses.
These examples prove that with the right combination of skills, resources, and strategies, veterans can excel in the world of entrepreneurship.
Next Steps
Inspired by these success stories, it’s time to take the first steps in your entrepreneurial journey. Moving forward requires focused action and making the most of the resources available to you.
Begin by joining veteran-focused training programs and connecting with organizations that specialize in helping veterans transition into business ownership. Here’s an overview of key phases to help you get started:
| Phase | Key Actions | Available Resources |
|---|---|---|
| Initial Setup | Register your business, get licenses | Veterans Business Centers |
| Financial Foundation | Open a business bank account | SBA Resource Partners |
| Training | Complete B2B program | Local VBOCs |
| Funding | Apply for VA loans and grants | Patriot Express Program |
This step-by-step approach has worked for many veterans. Take Shannon Arick’s experience, for example:
"One thing I learned in the military is that the possible success or failure of a mission may come down to good, solid training. It is the same in business."
Reach out to your nearest Veterans Business Outreach Center (VBOC) to get started. For continued guidance, consider joining veteran entrepreneurship groups like Bunker Labs or attending events hosted by organizations such as Second Service Foundation. These networks can offer practical advice and valuable connections to help grow your business.
"SBA’s Boots to Business program is about strengthening our aspiring military entrepreneurs, especially now as they are contributing to the record rate of new business applications we’re experiencing under President Biden’s leadership" [2].
Keep your momentum going by using the resources at your disposal. With these steps, you’re ready to take the first actions toward building a thriving business.
FAQs
What are the steps required to start a new business?
Starting a veteran-owned business involves careful planning and taking key steps. Here’s a breakdown of the process:
| Phase | Key Actions | Support Resources |
|---|---|---|
| Planning | Conduct market research, SWOT analysis | Veterans Business Centers |
| Foundation | Write a business plan, choose a structure | SBA’s Boots to Business (B2B) Program |
| Registration | Register your business name, obtain licenses, get tax IDs | SBA Resource Partners |
| Funding | Apply for VA loans, seek grants | Patriot Express Program |
The SBA’s Boots to Business (B2B) program provides training, planning tools, and mentorship to help veterans at every stage of the process. For veterans not near military installations, the B2B Reboot offers the same support.
Veterans can also turn to Veterans Business Centers and SCORE mentorship programs for personalized advice, from planning to securing funding and launching operations. These resources are designed to make the transition to business ownership smoother.
Visit sba.gov/veterans for more details and access to these resources. With the right guidance, veterans can take confident steps toward building a successful business.