It’s National Veterans Small Business Week this week and we’re celebrating with the U.S. Small Business Administration (SBA) and every veteran who owns a business. Veteran small businesses make up approximately 2.4 million U.S. businesses or 9 percent of all American firms, according to the SBA.
These businesses have not just started, but most of them have been very successful. The military teaches valuable lessons that translate over to entrepreneurship. Mark Rockefeller, CEO and Co-Founder of StreetShares said there are three main skills that make veterans great entrepreneurs.
“Veterans are good at planning, taking a complicated task and breaking it down into smaller pieces and they’re great at multitasking,” he said in StreetShares’ Facebook Live event yesterday. In the military, you’ve got your primary job and then must accomplish many other tasks while doing well at your main job.
In honor and to help veterans on their entrepreneurship journey, StreetShares is dedicated to providing resources to enhance their ventures. As a veteran-owned and operated business that’s helping small businesses with their financing needs, we understand what it takes to be successful. One of our main resources is “The Ultimate Guide for Veteran-owned Small Businesses.” There are a ton of great resources available for veterans, but this guide puts everything in one place. You’ll learn:
1. How to Get Started with Educational and Training Resources
The military has created a foundation for entrepreneurship training. However, there are many other aspects to think about when running a business. This guide features a few resources to help get started including the Boots to Business Program and Veterans Florida Entrepreneurship Program. It also lists several mentor programs. Surrounding yourself with smart people, building a network of great mentors and bouncing ideas off of them is what many entrepreneurs like Mark Rockefeller said helped him a lot. See more from the Facebook Live event featuring Mark and Peter Somerville, Director of Investor Relations, speaking about Veteran Entrepreneurship.
2. How to Grow Your Business with Networking and Accelerators
The Ultimate Guide also lists several resources to help when starting the networking process and growing your business with accelerators such as The Bunker Labs. Telling people you already know what you’re doing is the first step to networking. These people in your network may already know someone else who can really help you in your businesses, as you may be able to help others in their ventures. It’s all about the golden rule – treat others as you would want to be treated. Networking has become a lot easier since you can practically find anyone online through social networks. The Ultimate Guide lists a few specific veteran networks such as RallyPoint. Download the complete guide here.
3. The Basics of Financing and How to Determine Your Financial Needs
Financing for a business can seem daunting. This is the stage of a small business where a lot of Veterans go through the emotional rollercoaster of applying for loans and getting funding to grow their businesses to only get rejected a few times. With this guide, we take you through how to determine your financial needs and what to expect from banks, investors and other marketplace lenders. We also take you through understanding cash flow and the economics of your business before even thinking about funding. And depending on what you’re using the money for, will depend on what type of loan or funding to ask for.
4. Types of Funding Available at Certain Stages of a Businesses
The last part of the guide is structured to help businesses of any stage understand what type of funding may be available. Startup businesses or small businesses in the idea or infant stage must be more creative when asking for funding. Early stage businesses may have more options. And growth stage businesses have options that could involve more money.
Participate in Veterans Small Business Week
During National Veterans Small Business Week 2016, download “The Ultimate Guide for Veteran-owned Small Businesses” to get these resources all in one place. StreetShares strives to help small businesses in every way by educating business owners with valuable resources. This week, we’re also broadcasting on Facebook Live every afternoon to provide veteran business owners with useful information that companies can take action on immediately. Like our Facebook page to get notified once we go live!