Posted on Sep 9, 2015
Do you own your own business? Does your military background assist you in operating it?
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Responses: 5
I do not presently own my own business, but I did own one for about ten years. Yes my Military background proved to be very useful in the success of my business. The same traits one requires in the military will lend greatly to a business working successfully. Being motivated, dedicated, leading by example, never settling for 2nd best are a few military traits that will be impactful on a business thriving well. I finally ceased running my business when I noticed the housing industry starting to fail. I realized that it was time to find some other source of income. Instead of trying to see it through like a lot of other independent contractors did and causing them to file either chapter 13 or 7, I paid off all my bills ; informed my associates that I would cease operations in two months, thereby giving them some time to find other employment. I then notified all services I dealt with of my intentions and, with enough money in the bank to sustain my family while I sought employment elsewhere, I shut down my business at the close of the two month deadline I had set.
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MAJ (Join to see)
Cpl James Waycasie Thanks for the answer. That is a good example of forecasting, reading the market and planning ahead. As you said not many small business owners had the fortitude to close on their own and keep some $$ in the bank. Kudos on that.
Do you see your self doing it again sometime in the future? Would you enter the same industry as before or would you look into something different?
Do you see your self doing it again sometime in the future? Would you enter the same industry as before or would you look into something different?
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Cpl James Waycasie
MAJ (Join to see) - I have spent several years in retail management. I have been watching the flow of new construction houses in my work range,( roughly 100 miles is all I would care to travel) I have seen some minor improvement but not enough to woo me away. I have been thinking of investing into a retail type store of my own. Of course to enter that area, I am monitoring the spending of the population. It's a tricky thing to decide wisely on what items will attract people. It's not enough to know what will on average attract people across the USA in general, but knowing what will attract the people in your area where you set up camp. I sell on Ebay and do a lot of research on items before choosing which ones to sell. Owning your own business is rewarding , but not everyone has the motivation to be successful. A lot of people go in with the idea I am my own boss and can work when I want, Do what I want, say what I want. Those people normally fail. Although you may own your own business, you still answer to your customer or to whomever you may be contracting some form of labor from. Diligence to duty and loyalty to quality and strong work ethics will help guarantee success in any venture one may have.
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There are many resources to assist you in exploring entrepreneurship. Feel free to contact me if you have any questions or want to discuss next steps.
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SGT Alexander Hildenbrandt
Yeah Buddy, I work with military transitioners and civilians who have their head screwed on straight to help them go through the process of finding a franchise. As a franchise broker, I help people like a realtor helps people find a house. Buying a business is more complex though and requires a third party to expand your view of what’s out there and available. It’s a hard business but I do well in it because it is vary similar to what I did in the military. In the military I collected information and analyzed it to provide accurate information to ground commanders to make big decisions. Same process different game.
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