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Chris Ford, NAVSO
As we move into 2016, we will unveil new services for our clients (more than 200 organizations and growing) so they can get laser-focused on their own programs and services, thereby, helping more families. At the end of the day, we’re not in this for ourselves or even for our clients (veteran-serving organizations). We’re in this work for the 52,000,000 Americans affiliated with military service so they can thrive in their communities.
What advice do you have for others who want to start their own organization or company?
Think long and hard, take courses on starting your own business, and then if you’re certain you want to proceed, surround yourself with people smarter than you and with people who’ve been down the entrepreneurial road ahead of you.
Starting a business is hard work. It takes more than just one person’s passion and dedication. It will consume all of your free time-nights, weekends, vacations, etc.
You need to ensure:
1. You’ve done market research to determine a need for your services,
2. You know your competitors and how you’re going to differentiate yourself from them,
3. You have the means to launch the effort and sustain operations for several months (all while making no profit), and
4. Your family is fully informed of the expected challenges and demands.
With great risks come great rewards, but in most cases, there is no safety net when you’re pioneering your own business opportunity (unless you’re entering into a franchise, which has risks, but less risk). If you can, start your business as a part-time business: studies show that if you can generate 40% of your day-job income, you can more than likely switch exclusively to the full time business operations and meet your income needs.
So, go ahead, chase your passion and your dreams, but make smart decisions and enroll the help of others you trust.