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Business Success

How to Ensure Your New Business is a Success

Perhaps you have been considering going out on your own and starting your own business. For veterans, this can be a rather daunting thought, but the truth is that veterans tend to make absolutely excellent entrepreneurs. In fact, studies in America show that veterans are around forty-five percent more likely to become successful business owners than those with no military experience. This is due to a number of different qualities which serving in the military helps you to develop, including organisation skills, goal orientation, and the ability to take smart risks at ideal times. Veterans don’t only have superior training, they also have the confidence to develop fresh ideas and build valuable networks.

Go with What You Know

Serving with the military can provide you with a number of valuable skills, from communications and technology to health care and even engineering. If you are concerned as to how your military skills will be transferred into the outside world, there is nothing to worry about as the majority of skills that you’ll pick up in the military will be useful in almost any setting. If you are thinking about starting your own business, it’s important that you go with what you’re passionate about and stick to what you’re good at. Translating your military resume to civilian needs is a lot easier if you’re in a field that you’re familiar with.

Be Aware of Strengths and Weaknesses

In order to survive it’s vital that entrepreneurs can fill a lot of roles, especially during the first few months of business growth. However, doing everything that needs to be done is not always the best route to success as a business owner. It’s important that you know exactly what your strengths and weaknesses are so that you can delegate tasks effectively by sticking to what you are good at and outsourcing the other tasks. Knowing when it’s best to rely on outside help can help you to minimise obstacles and pitfalls.

Seek Expert Advice

The economy is in need of veterans who are able to start businesses that offer solutions to real problems. Luckily for you, there is a huge range of help and advice available, including business training programs, counselling and even mentoring. If you are feeling nervous about starting out on your own with no previous business experience, it may be a good idea to enrol on a business training course before you begin to have a better idea of how to become an entrepreneur. Mentoring services are also effective as they provide you with somebody to turn to when you’re in need of expert assistance, from ideas on branding to where you can buy the best A5 presentation folders.

Networking and establishing as many connections as possible will get you off to a great start, as you’ll have a list of contacts who you can seek advice from and swap ideas with to help you get your business off the ground.

Good luck with your business venture!

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