If you are a veteran who is thinking about starting your own business, consider the fact that you can now do so from home, thanks to the many opportunities to connect with clients and customers via the internet. Check out the helpful advice below so that you can make the right choices for your startup and take the appropriate steps towards long-term success.
Make your home a place for your business to thrive
Regardless of what type of business you plan on starting, your home will have to give you the environment in which you will be able to concentrate and get things done. It is much cheaper to set up an office at home that it would be to rent a unit. Keeping your startup costs low means you stand a greater chance of making the business a success.
If you are not satisfied with where you are currently living because of lack of space, because it is too expensive, or because you are simply ready for a change, check out the VA home loans that are available. These can be especially helpful because they come with lower interest rates, they do not require a down payment, and there aren’t any monthly mortgage insurance premiums either. When you are thinking about starting a business from home and you need money to do it, getting the right home loan can help you save money that you can then allocate to your new venture.
Use the skills you already have
As a veteran, you already have a lot of experience and you can put your skills to work so you can run your own business. So, for example, if you are skilled at writing, design, or even accounting, you can start a business from home as a freelancer.
One of the top industries for veterans is the retail industry, which is an especially good idea for those who are experienced in areas like marketing, sales, and supply chain management. Rather than starting a brick-and-mortar storefront that will come with a lot of overheads, you can start an online shop from the comfort of home.
Whether you decide to build your own website or use a platform like Amazon, eBay, or Etsy to sell your goods to the public, you can make steady income every month so long as you research the inventory that is in high demand and you find suppliers who can give you access to those products at low prices. With the right strategy, you can enjoy good profit margins, and you can even expand so you can start selling globally and begin taking advantage of buying trends all over the world throughout the year.
The point is that, once you think about the skills that you already have and that you want to put to good use, you can determine which industry you would be best suited for and you can find ways of accessing that industry by using your computer and internet connection at home.
Access the many resources for veterans
There are a lot of resources out there for veterans, and for veterans who want to start their own businesses. In fact, there are probably a lot more resources than you probably think.
For example, check out BusinessUSA, which is a government site that features a vast array of training courses, resources, and tools that could help any veteran start a business or improve an existing one. Another great resource is the Office of Small & Disadvantaged Business Utilization, or OSDBU, where you can register as a veteran-owned company and then get listed within the VetBiz directory. And if you are hoping to get a business loan, check the Small Business Administration’s Veteran Advantage Loan Program.
Write up a business plan
Once you have determined what type of business you would like to start and run from home, you can then write up a detailed business plan so that you will have a roadmap to follow. Will you be running the company on your own, especially at the beginning, or will you hire employees? Will you always work out of your home, or is that something you want to do only in the beginning? How will you market your products or services, and how much are you willing to invest into your new venture? These are all valid questions that need to be answered so that you will know what direction to take to make your new company successful.
Once your plans are in place, you have your finances in order and you have made the right investments, and you have a clear idea of the direction you want to go in, you can certainly use your skills to become a veteran who owns a business from home.