Posted on Sep 4, 2014
The Entrepreneur Dilemma - Bridging The Transition Gap
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I left active duty in Dec. of 2012 and became an entrepreneur. One of the biggest obstacles I faced was bridging the gap between my military paycheck running out and getting to the point of having month to month revenue from my startup. In this post I am going to share how I did it and would love to hear any startup "war stories" or plans from transitioning veterans on how they plan to bridge this gap.
I bridged this gap by saving up a reserve fund to live on and by conducting freelance work. I used a website called elance.com which has its pros and cons, but allowed me to find other small businesses with needs that I could fill with my skillset. I would help these small businesses write content for their advertising one-pagers or grant proposals. I also "hustled" by finding small security jobs. I actually worked at a nightclub in the VIP area for a weekend when DJ Tiesto was there...I had no idea what I had got myself into and it was complete chaos. I decided my time was better spent elsewhere.
If you are thinking of entrepreneurship or buying a franchise, what is your plan to bridge the transition gap?
I bridged this gap by saving up a reserve fund to live on and by conducting freelance work. I used a website called elance.com which has its pros and cons, but allowed me to find other small businesses with needs that I could fill with my skillset. I would help these small businesses write content for their advertising one-pagers or grant proposals. I also "hustled" by finding small security jobs. I actually worked at a nightclub in the VIP area for a weekend when DJ Tiesto was there...I had no idea what I had got myself into and it was complete chaos. I decided my time was better spent elsewhere.
If you are thinking of entrepreneurship or buying a franchise, what is your plan to bridge the transition gap?
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Entrepreneurship Degree
Self Employed
Entrepreneurship Degree Self Employed
Posted >1 y ago
Responses: 3
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Ugh, bouncing is not a fun job at all. I briefly worked at a bar outside of Fort Huachuca called JR's (some of you may have even been there!). I did a few odd jobs there, bartended, ran karaoke, dj'd once or twice, but the thing I always dreaded most was anything having to do with security. For me, that usually meant working the door, but even then, people get really stupid and really snotty with you, especially the dumb AIT kids trying to sneak in.
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Starting a small business before you leave service is a great way to get started. Read how former Navy SEAL, Eli Crane and his wife Jen, started Bottle Breacher in their garage while still on active-duty. While deployed, his wife ran the business. Now they employ over 20 people, mostly veterans, and were featured on Shark Tank, walking away with deals from Kevin O'Leary and Mark Cuban. You can read about them in ME MAG, a non-profit publication by & for the military entrepreneur.
http://issuu.com/therosienetwork/docs/me_magazine_november_12-2-15_new_co?e=22154743/31774966
http://issuu.com/therosienetwork/docs/me_magazine_november_12-2-15_new_co?e=22154743/31774966
Military Entrepreneur Magazine
The publication By & For the Military Entrepreneur, brought to you by The Rosie Network, 501(c)3
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Hi Sean,
I got out to become a franchise broker or veteran franchise consultant. I was trained extensively in the buying process as well as legalities in franchises from state to state. I incorporated what my transition was like and helped others plan thier way out as I went through my on. In this I found my niche helping vets transition through franchises, business opportunities and training programs. I figured out many strategies and most revolve around your credit not whats in the bank. There is allot more to it, believe me but I take clients through the research and buying process because i have the networks and relationships already established with close to 400 franchises. STONEWORK Franchising has only been in business for 9 months but it has been great.
I would not have been able to survive however if it wasn't for a side stream of revenue. Depending on the circumstance, it can be easy like my own or difficult. I am saying that I work with vets every day who want to or who have stepped into business and no two situations are alike and requires detailed planning to be successful.
I got out to become a franchise broker or veteran franchise consultant. I was trained extensively in the buying process as well as legalities in franchises from state to state. I incorporated what my transition was like and helped others plan thier way out as I went through my on. In this I found my niche helping vets transition through franchises, business opportunities and training programs. I figured out many strategies and most revolve around your credit not whats in the bank. There is allot more to it, believe me but I take clients through the research and buying process because i have the networks and relationships already established with close to 400 franchises. STONEWORK Franchising has only been in business for 9 months but it has been great.
I would not have been able to survive however if it wasn't for a side stream of revenue. Depending on the circumstance, it can be easy like my own or difficult. I am saying that I work with vets every day who want to or who have stepped into business and no two situations are alike and requires detailed planning to be successful.
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Stephanie Brown
Hope you will take the time to register your business at no cost on Rosie's List, think Angie/Craig's lists, but only for military family-owned! http://www.RosiesList.org
The Rosie Network, a search tool for military family-owned businesses
Find an American veteran, active duty or military spouse-owned business in your area now using the Rosie's Network search tool
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