JOINT BASE ANDREWS, Md. –
In effort to assist transitioning members to civilian life, each month, Team Andrews Military Family and Support Center offers an intensive two-day workshop for those interested in starting a business.
The two-day sessions give participants in-depth information on writing a business plan market research, legal insight and financing.
"Our program, From service to start-up: Operation Boots to Business, is here to give veterans an actionable plan to translate their experience and leadership abilities into launching a new venture," said Linda Logan, MF&SC program director. "We also aim to give members a realistic idea of everything involved in starting a business and make known the resources available to them."
Unleashing leaders with military backgrounds into society boosts veteran-owned businesses and creates jobs.
According to the most recent U.S. census data, there are about 2.5 million veteran-owned businesses which have employed 5.8 million individuals.
During the seminar, Henry Turner, University of Maryland Small Business and Technology Development Center management counselor, discussed the importance of identifying a target market and knowing key competitors in order to develop a competitive strategy.
"The most essential information I would like participants to gain from my presentations is focusing on customers' needs and understanding the marketplace," said Turner.
"When it comes to customers you have suspects, prospects and at the core, customers. By teaching them to conduct market and industry analysis, we help entrepreneurs learn how to convert as many as possible into customers."
Turners' focus was on teaching the participants how to create SMART goals, he said.
"Your goals should be specific, measurable, achievable, realistic and timely," said Turner.
By beginning with the end in mind, participants can create a road map to success, he added.
"Create a personalized eight-step plan," said Turner. "The first four steps should be short-term goals, beginning with how much you would like to make. The last four goals should be long-range, ending with an exit strategy."
Those eligible to take advantage of the insight offered here need only be a transitioning service member, a veteran or a spouse with a desire to start a business. The next workshop will be held on June 24 and 25.
For further information on the workshop, call the MF&SC at 301-981-7087.