Posted on Mar 31, 2015
If you Plan to Start a Business, when do you plan to do it?
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Some of us have had entrepreneurs in our Family and have a nudge deep inside to start a business some day. Others have learned the value of control and the benefits of creating an assett. Imagine it, no need to apply or risk a period of transition. The only people demanding something of you is your client base whom you have a passion to work for. When would you start, when would you register, when would you...
Posted in these groups: 
Business
Business Development
Entrepreneurship
Stay at Home Mom
Stay at Home Dad
Business Business Development Entrepreneurship Stay at Home Mom Stay at Home Dad
Posted >1 y ago
Responses: 8
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All you have is NOW... No one is promised tomorrow. Read Denis Waitley's "Someday Isle."
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1SG Henry Yates
Thanks for response. My now wasn't found until I saw that I was financially trapped after a judge set maintenance and support in a divorce. I was left with nothing, I was still in uniform and had to get way outside the box. I don't know what would have happened if it was just me, but I couldn't fail. My boys, I couldn't let them down. I got exception to policy and at one point I had 5 jobs. When I realized 7 days a week, nearly 15hrs a day and over 140 miles commute 7 days a week could lead to... Well, thank God we didn't get there, I started Yates Productions. Simply taking a step back, planning, and just simply using my head, I escaped by creating my own income. Looking around my office and determining what I could offer others, I started an IT and professional printing business in 2001. My now, I didn't realize until trouble motivated me, but it was the best gift that came in such an ugly package. Financial independence, well, I'm on my way.
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Should do it when you have done the necessary research and built your minimum viable product, or MVP. In the past the big ate the small, but now it is the fast that eat the slow, no matter the size. Just look at Borders and Blockbuster!
Getting your MVP out is important in order to get feedback from the market, then iterate. You don't want to spend too much time or money investing in something that people may not like. And often times, what you as the business owner want is not what the market wants.
By doing this, you may be able to bootstrap, which means you don't need to borrow or invest considerable amount of money upfront and can reinvest the profits back into the company. I would also suggest that you keep your current job if you can until you know your business model will work. If it doesn't, no harm done, but if it does, then you know it is the right time to leave.
here are some business ideas that you can start with under 5k!
http://artofthinkingsmart.com/need-business-idea-55-less-5000/
Getting your MVP out is important in order to get feedback from the market, then iterate. You don't want to spend too much time or money investing in something that people may not like. And often times, what you as the business owner want is not what the market wants.
By doing this, you may be able to bootstrap, which means you don't need to borrow or invest considerable amount of money upfront and can reinvest the profits back into the company. I would also suggest that you keep your current job if you can until you know your business model will work. If it doesn't, no harm done, but if it does, then you know it is the right time to leave.
here are some business ideas that you can start with under 5k!
http://artofthinkingsmart.com/need-business-idea-55-less-5000/
Need a Business Idea or Want to Start A Home Business?
Need a Business Idea? Here are some that cost less than $5,000!
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1SG Henry Yates
Thank you for this advice Sir! It's awesome, MVP, I like that. So many of our institutions place us all into a prep to work for someone else, general education, higher education and parental expectations... My cycle broke with disaster I couldn't control. Yes, I still have my job, but my pursuit is financial independence for myself and others. But some will never aim for independence or appreciate it. I know for me, I didn't, it took trouble. Thanks for sharing Sir.
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Starting a new business has been something I think everybody has considered multiple times in their life. But the psychological and emotional stresses that can accompany such a venture for not only you but your family can be great. The easiest or would be now, but just like a mission in the military you need to research and plan and fill up your warchest so to speak of the tools and challenges that you are about to face. Make educated decisions. Seek financing from repeatable lenders ask family friends neighbors anybody about their takes on your business idea to see if it's something that will stand up and stand against your competitors. If all of that's done and I'm waiting for is just the greenlight go in the time is now the day run into my plan have caught and sit yourself up for failure. This is coming from someone who is never owned their own business I have been around several people who have been exposed to it, but I would hardly call myself a subject matter expert. So take my thoughts as A grain of salt.
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1SG Henry Yates
SPC Nicholas Cureton, thank you for your input. For not starting a business, you're definitely offering sound advice.
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There's an old saying: "the best time to plant a tree is 20 years ago. The second best time in now." The same applies to business.
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1SG Henry Yates
Great Sir, thanks for the response. Typically we'd like have full control and it will never happen; never. The worst thing about that saying for me is that I have things that I should have started 20 years ago and there's an important lesson in that saying. We shouldn't grieve because of what we didn't do, we have engage when we realize. Time is precious. Thanks for sharing MAJ Chris Ballard.
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If u know that upon completion of military service you are going to start a business u should start planning years in advance. get comprehensive knowledge of marketing, advertising, demographics, profit, material mark-up all while determining what and where u wanto to do it. Once u have that then u can specify research like demographic analysis, competitive analysis, work force laws and so on. The time it takes Is different from person to person and depends on how much free time u have. I started back in 2006 and finally decided what and where 2 years ago. So now I transition out of the Corps this year and jump into that lake of entrepreneurship. So hopefully it all pays off
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SSgt Randy Saulsberry
I just feel like over my 16 years in the corps everything about serving pushes you to be a boss. All the focus that's put on being a part of a team then towards leading the team. Mentally I could never work for someone else again. The marine corps has pushed me to not only be in charge but to pursue the leadership rolet in every situation
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SCPO Aurora Ruckman, MBA, CPhT
I started an insurance business two years ago, unfortunately a serious car took me out of service for a year. I learned the hard way that is a hard business to revive.
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1SG Henry Yates
Sorry about the accident SCPO Aurora Ruckman. Insurance brings something called residual income. That's the right kind of income. Maintenance of accounts and continued growth promises exponential increase. My sincere hope is in your full recovery. Now if you're able to get back on track, your opportunity in insurance is a great choice. I'm reviving a portion of my business as well. My effort has been toward word of mouth marketing. It works for my line of business. I hope to see you active in your business soon.
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Starting a business gives you the freedom to work for your own clients and build something valuable. If you feel that entrepreneurial nudge, the best time to start is when you're ready to commit. Great opportunities include launching a digital marketing agency, creating SaaS products, starting an e-commerce store, offering consulting services, or becoming a content creator. The possibilities are endless—it's all about finding what aligns with your passion and skills.
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I was broke with no money and bankrupt. I wrote a business plan, raised $203,000 in 2 weeks from strangers and was a millionaire 3 1/2 years later.I tell you how to do it in my book, One Million in the Bank: How To Make $1,000,000 With Your Own Business, Even If You Have No Money Or Experience (On Amazon). You really, really should read it. I have also written a Veterans' Guide To One Million in the Bank. It does have good original material, but you must get the main book.
You can do it. If you plan right. All of the 12 stories in my book, people were millionaires in 3-7 years from starting with nothing. Feel free to contact me with questions after or before you get the book, http://www.onemillioninthebank.com.
God bless! Good Luck!
You can do it. If you plan right. All of the 12 stories in my book, people were millionaires in 3-7 years from starting with nothing. Feel free to contact me with questions after or before you get the book, http://www.onemillioninthebank.com.
God bless! Good Luck!
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