Why don't more Veterans choose Entrepreneurship?

The same reason most people don't. They do not feel they have a good enough idea or they do not feel they have the money. Combined in all that may be the lack on knowing how, which leads to a lack of confidence. I tried hard for 7 years to succeed when I was recruited out. I just did not know how. Then I started my own business after struggling for 7 years including bankruptcy. Three years later I had my first $1,000,000 in the bank. That was 23 years ago. I have written a book to tell you how to do it. One Million in the Bank: How To Make $1,000,000 With Your Own Business, Even If You Have No Money Or Experience ( Goo.gl/JdMqxB ). For Veteran's you can download a free Veteran's Guide To One Million in the Bank at my website http://www.onemillioninthebank.com . It has two veteran's stories and how they made $1,000,000 and some resources in the middle of the small book. It is only a companion, you must also read the main book too, please-that is where I tell you how in detail to get on the path and it is full of stories of everyday people doing it with everyday businesses. If you read one or both give me a good Amazon review and tell every Vet you know. I can be reached too, feel free to contact me through my sight or call me. Good luck and God bless.

I believe most don't personally know anyone that has been successful or is a trailblazer leading the way. There are several programs out there providing free training and a wealth of veterans who want to mentor and show others the way. It has to be an individual decision to decide that you can run your own business instead of looking for a job. I was fortunate to have another veteran approach me and ask if I was open to look at an opportunity. All it takes is making a leap of faith and not worrying about the landing. If more people embraced failure and obstacles as a part of life and a learning experience then we would have more people seeking Entrepreneurship. The first opportunity may not be right but being open to seeing as many as you can til you find the right one is the key. Just my two cents.

I believe there are many, many factors to the question why veterans don't pursuit entrepreneurship.

First, while I don't have the specifics, I believe the stats would reflect that there is a difference in those veterans who were enlisted vice those who were officers as to who are more likely to pursuit entrepreneurship. I suspect that most of the same reasons apply to why more enlisted don't get involved in politics vice officers. Certainly, there are exceptions to the rules. I'm a retired Gunnery Sergeant and I have run for Governor of Illinois and for the U.S. Senate. There's a difference in the skill sets that are taught (or expected) between officer and enlisted and rightly so.

Second, when we were in the military, there was a HIGH expectation that we would win, and so getting volunteers isn't that difficult. However, other countries have a bit of a recruiting problem because their aspect of winning isn't as high.

"According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn." [http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail]

This is hardly inspirational. Who wants to start a business with statistics like these? Someone here mentioned "risk." There's HUGH risk venturing in to an entrepreneurial business and you do so by yourself. Typically, you don't have a buddy in the foxhole with you. You are on your own. Too many people out there to steal your dream.

Third, when retiring from the military, there are all kinds of information about “getting a job” for when you get out. There are resume writing classes and trade shows set up specifically for veterans. However, I don’t recall once getting information on becoming an entrepreneur (other than possibly buying into a franchise which was definitely out of my means as a Gunnery Sergeant with my skillset and financial resources). Don’t get me wrong, I am deeply appreciative for the information that I received at my retirement classes, but it did not prepare me to become an entrepreneur and I’m not even saying that it should necessarily (though I think it would be great). I’m just saying that this is just one of the other factors why more vets don’t become entrepreneurs.

Lastly, vet’s need to know that there are many, many entrepreneur opportunities and that there are a huge degree of differences in the risk and initial (startup) cost/investment between them all.

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In my experience, the same thing that holds back veterans is the same thing that holds back everyone else. It isn't lack of startup costs, though they may cite that. It isn't lack of ideas, though that's a popular one too. It's fear. Pure and simple. Even in a business that has a low startup cost and low overhead, it is scary for people to step outside their comfort zone.

I've been fortunate enough to build a very successful business, and I've helped a lot of people - both vets and civilians - do the same. What I've learned over the past few years is there are only a handful of excuses people use to avoid starting their own business, but they all boil down to fear of leaving their comfort zone. Once you can get people past that, the world really opens up for them. That's the challenge, and that's why we get paid the big bucks!

Lucas,
As with many people that are leaving a job (military or civilian) they may not have the resources to start a business. The flip side is that there is not a lot of GOOD concise information out there about the first steps in starting a business.

I am actually working on fixing that. As an Army vet and entrepreneur for over 20 years, I really enjoy the whole startup phase. I hope to help other vets out that are wanting to start a business.

Feel free to holler if I can answer any specific questions for you.

BTW...I grew up in Blue Springs...over on A st.

Brian Richardson
http://www.VetLaunched.com

Lucas,
As with many people that are leaving a job (military or civilian) they may not have the resources to start a business. The flip side is that there is not a lot of GOOD concise information out there about the first steps in starting a business.

I am actually working on fixing that. As an Army vet and entrepreneur for over 20 years, I really enjoy the whole startup phase. I hope to help other vets out that are wanting to start a business.

Feel free to holler if I can answer any specific questions for you.

Brian Richardson
http://www.VetLaunched.com

What a great discussion! I've encountered so many really successful Veterans who have built amazing companies after separating from the Military(Ex. RP). Some have done so while being in the Reserves as well. I've personally experienced both working for great companies and building a couple of my own. The number one obstacle for most is up front capital. Most are not aware of VA programs available to them or the existence of "Venture Capitalist" companies that love investing in great "Ideas" and/or "individuals".

Whether you're working for an organization or starting a small business, building and cultivating a network of "Professionals", Veteran and Non-Veteran is essential to being successful in today's competitive working environment. Asking for and receiving and giving support from your network will be invaluable. We are out there and willing to help. Continue educating yourself is also a must. There are affordable alternatives to College. Online certification programs are great at helping advance your knowledge and keeping you competitive with other individuals and/or companies.

Good Luck and Semper Fi

Most of us get comfortable with the 1st and the 15th and overlook the thought of doing anything else. I am a 23 year soldier and entrepreneurship has been in my blood for several years. I have tried multiple businesses and have found my after Army lifestyle that will keep me from looking forward to going back to work for another 15-20 years. Inbox me and I will share an opportunity and if you would like more information then great, if not that's okay too. Best of luck to each of you and most of all, thank you for your service to our great nation. [login to see]

The big thing is most who go it on their own don't survive.

I'm Army Reserve, so a different insight. When I moved to Denmark I started my own business shoeing horses (farrier). It was a tough row to hoe. If it hadn't been for the Army Reserve and all the extra duty I was able to get, I wouldn't have made it. It took me about 5 years to get my business built up and going so I could really support my house hold. My business was also one of the reasons I retired when I did. After three deployments I could see my business wouldn't handle another one, so I made the choice (with the help of other factors).

But it is a crap shoot. I'm glad I'm my own boss. I make my own schedule do my own thing. On the flip side, I work hard. My customers come first. I'm dedicated in my service and always do my job to the best of my ability. I never take summer vacations because that is my busy season. You need self discipline, good business sense, you have to be hard nosed, yet you have to be understanding as well. We(my wife) keep different bank accounts for paying taxes, bills and such because if you don't plan for it, YOU'RE SUNK!

As a very broad generalization, by the very fact that we all started out as steady "salaried" military members, the mental and economic risks associated with entrepreneurship are a far stretch for most of us.

I'm always intrigued when we see former military members become "serial entrepreneurs" - that's a fascinating transition in my books.