Has anyone else opened their own business?

SGT Patrick Abrams — Fri, 09 Dec 2016 09:40:45 -0500

I started my own business doing woodworking and just opened up.

How many other Veterans have done this and what information would be good to share with others looking to do the same?

Response by MSgt Private RallyPoint Member made Dec 9 at 2016 9:41 AM

MSgt Private RallyPoint Member — Fri, 09 Dec 2016 09:41:33 -0500

Congratulations!! Do you have a website where you display/ sell your work?

Response by SGT Patrick Abrams made Dec 9 at 2016 9:45 AM

SGT Patrick Abrams — Fri, 09 Dec 2016 09:45:29 -0500

I have a Facebook page, woodworking by pat as well as an Instagram account under same name

Response by SSgt Bill Trevor made Dec 9 at 2016 10:10 AM

SSgt Bill Trevor — Fri, 09 Dec 2016 10:10:31 -0500

Congrats! Being your own boss is both challenging and rewarding.

Response by SPC Erich Guenther made Dec 9 at 2016 10:24 AM

SPC Erich Guenther — Fri, 09 Dec 2016 10:24:13 -0500

Yes I have. A little advice, once that LLC or Corp or whatever structure you decided on hits the state level and is approved.........the phone you used as a point of contact is going to ring off the hook from sales people trying to sell you goods. So use a phone you can turn off or ignore when business hours are over. Good Luck to you. Also, if your in Texas, Texas is one of the best states to start a business in.

Response by Capt Seid Waddell made Dec 9 at 2016 11:10 AM

Capt Seid Waddell — Fri, 09 Dec 2016 11:10:35 -0500

Nice start - best of luck!

Response by PO3 Sherry Thornburg made Dec 9 at 2016 4:31 PM

PO3 Sherry Thornburg — Fri, 09 Dec 2016 16:31:56 -0500

I started a photography business, not in a store front. I moved it from state to state while my husband was still in the service. After he was discharged, I set it up and did another 10 years with it, before health reasons required it to be closed. It was all about getting my name and work out in front of people and working referrals and repeat business. Reputation was everything. Store fronts are different. If you have a product that people want, foot traffic will come. Good luck to you.

Response by SGM Erik Marquez made Dec 10 at 2016 6:38 AM

SGM Erik Marquez — Sat, 10 Dec 2016 06:38:42 -0500

Get your DBA, consider a small buisness software program to help track $$$$ and pay Taxes., Consider LLC if you feel your product has ANY liability attached. Talk to your accountant,,, "Hobby buisness" vs "Small Business"
Done well a lot of buisness expenses are tax beneficial, done worng a lot of things you thought are "buisness expenses" are a tax liability and causing you to have an uncomfortable conversation with the IRS..did I mention talking with a small buisness tax accountant?????? lol..and use that same one to do your taxes.

Response by SFC Russell Shaw made Dec 14 at 2016 6:03 AM

SFC Russell Shaw — Wed, 14 Dec 2016 06:03:00 -0500

You begin by developing the person, not the business. Develop the person and do the right things and the business will come along. I know this sounds very backwards but this is how the 1 percent who are the most successful think and what they do.

Response by LT John Chang made Dec 15 at 2016 6:19 PM

LT John Chang — Thu, 15 Dec 2016 18:19:28 -0500

Before I got out of the Navy, someone told me that I was likely to change jobs at least 4 - 5 times. I shrugged that off as likely for other people, but not me. Boy, I had a lot to learn!
Since then, I worked in real estate, started a commercial property inspection business, co-founded an arts nonprofit, created a marketing agency, even helped owners buy / sell businesses.
The main thing I share these days is that you'll have a plan.. and then reality will set in.
But as cliche as it sounds, it really is a journey - and *that* is the real point.

Response by SFC Joseph McCausland made Dec 20 at 2016 7:50 PM

SFC Joseph McCausland — Tue, 20 Dec 2016 19:50:13 -0500

I have had five successful businesses in my lifetime. Always ask yourself.... How can I improve my brand and how can I make my customer's experience more enjoyable?
Also, don't be afraid of "thinking out of the box" and getting a little crazy at times, this will be what sets you apart from your competition.
Best of luck in your new endeavor.

Veterans First....ALWAYS

Response by MAJ Stephen Bish made Feb 20 at 2020 11:51 AM

MAJ Stephen Bish — Thu, 20 Feb 2020 11:51:14 -0500

I'm wanting to start my own business, I have an aircraft design that I'm wanting to test and produce, so it's not like a lot of small businesses doing retail. I'm wanting to find help with the build, finding aircraft designers that can help with the design that I have, to refine and actually do the construction. I'm a pilot and engineer and still working full time, so I don't have the time to do the intricate metal work needed, with pully's and belts. I have about half the money needed for the business, but also need to get investors, once I can work with someone to get it marketed, Trying to find someone that can do both metal work and marketing that's not already fully employed is impossible. Is there any where a retired vet can go for this kind of help?