By James Pruitt, Senior Staff Writer

In our last article, we emphasized the need to engrain an innovative mindset into the core values of any new company. Moving forward, Veteran Business Owners should apply certain strategies to create a more dynamic operation. Some of these strategies are the following:

1. Use creativity to define your objectives

In other words, Veteran Small Business Owners need to ask the right questions. Asking the right questions is necessary to get to know your client base. We need to understand our client base in order to develop effective marketing strategies. Perhaps the entrepreneurs’ own perspectives can inform initial marketing efforts.  However, subsequently, we need to diversify our lines of inquiry.

2. Take the Bull by the Horns. In other words, be proactive and involve yourself in all stages of your business process

In many cases, this involvement may include moving into the trenches so you can understand what is going on, even at the production and customer service levels. Small businesses give owners this advantage. A Vice President of Microsoft performing data entry to show he’s “part of the team” might come off as awkward or disingenuous, or even a poor use of resources. 

Small businesses can transcend this awkwardness since they tend to be more vertically integrated. In a smaller company in its growth phase, the boss likely understands processes from the floor to the C-Suite. Remember involvement in each level of operations can educate the higher-ups about the company’s everyday challenges.  

When plausible, business owners should take any opportunity to perform even the most menial tasks. Putting yourself on the front lines is the best way to engage with every challenge your company may face as well as earn the respect of employees.

3. Market yourself, and know your talents

You know yourself better than anyone else. Innovation requires self-knowledge and understanding your own capacities. Consider any untapped abilities you may have. Also, consider any directions you can take these secret wells of knowledge. Even better, the more you find your passion, the more you find yourself absorbed in the work you do. Once you find the tasks that put you in the “zone,” everyone can benefit when you develop your business in that direction.

4. Acknowledge and utilize talent in others as well

It takes a certain maturity to recognize talent in others. More to the point, any effective organization requires collaboration to succeed. Effective business leaders have an eye for recognizing effective partnerships. Whether in the hiring process or while networking, Veteran Business Owners should develop effective team-building skills, and know how to launch their endeavors with an eye toward finding teammates with contradictory styles and talents.

Focus, focus, focus!

5. Your business should engage you, your workers, and especially your customers. A good fit between an entrepreneur and their business venture can ensure maximum engagement. Consider those tasks where you excel and plan your schedule around them. More mundane, less interesting tasks “flow” more easily when you make your standout talents the centerpiece of your schedule.

These strategies can weave innovation into the fabric of your business. Innovation always requires collaboration and self-understanding, as well as good team-building and management skills. Veteran Business Owners should consider these factors while priming their organization to move forward.

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

By James Pruitt, Senior Staff Writer

The race to innovate has propelled itself to center stage as technology has advanced. Companies need to constantly rebuild themselves to stay competitive. In other words, companies should deeply integrate forward-thinking mindsets into their cultures. So, what does this mean? 

Twenty-five years ago, a fleet of internet-capable computers could cost several thousand dollars each. Now, a small company can buy these computers in bulk for hundreds per workstation. But in today’s economy, Veteran Business Owners need to consider the cost-effectiveness of such an investment.

Consider the industry. These days, many tech-centered businesses may really need fast, up-to-date computers to simply get the day’s work done. Other companies may need to keep closer track of innovations in their own fields. Such companies may include restaurants, clothing manufacturers, and machine shops. Depending on their needs, such companies may even benefit from saving money on expensive computer equipment, while concentrating on the latest innovations in their own fields.

As a bottom line, companies in these times need to keep track of industry trends. In fact, to stay competitive, most companies need to integrate forward-looking mindsets into their company culture. Veteran Business Owners can implement the following mindsets in order to take their companies down this path:

1. Get Ready for Cross-Industry Partnerships

Vastly different companies sometimes have operations that complement each other. In many cases, one business may have discovered a new methodology that might benefit a separate one. Consider, for example, delivery methods. Maybe a business in one field has begun to use drones or self-driving cars. One company could even act as a supplier for the other, and hence vertically or horizontally integrate the operations of each. Finally, consider that businesses in different fields might not be in competition.  As a bottom line, remember the importance of networking for reaching the best outcomes for each party.

2. On a Similar Note, Never Forget the Power of Collaboration and Partnership

Competition can provide us with the drive to press forward. However, sometimes extreme rivalries between companies might prevent the spread of new ideas. Extreme competition may be toxic. It is true that the legal system enforces noncompete covenants and antitrust laws, and for good reason. However, Veteran Business Owners should trust themselves and each other to join forces in many cases where partnerships might benefit each. Your own method may work for you, but in some cases, teamwork with others in your industry may yield the best fruit.

3. Some Industries May Completely Disappear Or Even Morph to the Point Where They Are No Longer Recognizable

Remember the metaphor of the frog boiling so slowly in a pot that it doesn’t understand it’s being cooked? Business owners should keep in touch with trends in their field and understand when and why they need to innovate. Time flies, especially for busy people. Your field could gradually disappear absent a willingness to innovate. Even within many of our own lifetimes, at one point we had telegrams, then we had FedEx, then email. 

Successful companies see trends and innovations as they arise and adapt accordingly. Those who stick their heads in the ground may find themselves boiled alive as advancing new technologies eat away at their core business.

4. Remember the Importance of Social Responsibility for Public Image

These days, companies need to stay aligned with changing ethical sensibilities. Businesses that fail on this front risk finding themselves in a two-front war. Customers may abandon their products even as governments start regulating them. The combined social forces could spell doom for a small business, regardless of what short-term opportunities may come their way. For example, don’t expect many new tobacco companies any time soon. 

In conclusion, any business owner needs to stay “in touch” with the business environment surrounding them. New Veteran Business Owners most of all need to remain self-aware. The need for innovation can arise at any moment, so all of us need to contribute to company cultures that seep these forward-thinking concepts as deeply as possible into the souls of any new business.

Stay tuned for part two of this mini-series.

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

By James Pruitt, Senior Staff Writer

The past few years have brought an intense transition in the face of new challenges, such as the Pandemic. These challenges have also brought opportunities for productivity in a wider range of contexts. The Pandemic didn’t create this new era of remote work. The events of the past few years simply hastened a trend that had been long in the making. 

We have seen new management challenges now that the physical workplace is no longer the default work setting. Trust has never mattered more. At the same time, individual responsibility has gained new importance. Countless shifts have occurred in a relatively brief period, which presents new challenges for business owners but may also provide management freedoms to direct their energies in new directions now that workers hold greater autonomy. 

Below are only a few ways to shift workplace culture to allow greater flexibility in these changing times.

1.Prepare for the New Era of Hybrid Workplaces

As we’ve discussed previously, remote work is here to stay. Employers should adapt their workplaces to accommodate those workers who, for whatever reason, might prefer to perform some of their tasks outside of the office. Fortunately, technology is now widespread, so the modern workplace should prepare for an online presence whenever possible.

2. Communicate With and Counsel Employees

One idea for improving communication may be the implementation of regular feedback sessions regardless of performance. Such a policy might ensure appropriate facetime while allowing both employees and management to raise any issues that need to be addressed. Managers should integrate these sessions into the workplace routine. A “call to the office” should not feel ominous for the worker. Regular, standardized feedback can do wonders for improving the channels of communication.

3. Find Appropriate Ways to Communicate for the Hybrid Era

The popularity of Zoom and similar forums provides boundless opportunities to expand the reach of new businesses. At this point, a business would be lax to ignore these innovations. These new forums afford flexibility that has become crucial for retaining good talent in many industries. 

4. Implement New Technologies

Remember, if you don’t keep up with the times, your competitors will. Small Veteran Owned Businesses should always stay in touch with any emerging trends. Recently, applications like Slack, Microsoft Teams, and Zoom have expanded at warp speed, but also stay in touch with the different technological offerings specific to your industry.

5. Maintain Flexibility

If there’s anything the past few years have taught us, it’s to expect the unexpected. A business’s bottom line should always account for the unknown. Whenever possible, businesses should prioritize in a fashion that minimizes the burdens on employees. Adjusting a company’s priorities helps employees stay motivated with the tasks at hand.

Remember, the Pandemic has permanently changed the business landscape, in many ways for the better. Businesses that don’t adapt may have a hard time competing in the new economy. The physical workplace is no longer by default the home base for a business’s operations. Hence, managers need to innovate to ensure the work gets done and gets done right. However, effective management does not preclude trust. In fact, trust is the basis for any solid business relationship.

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

By James Pruitt, Senior Staff Writer

As we’ve gotten the COVID-19 pandemic more under control, we’ve noticed an acceleration of existing changes in business practices. In-house employment is still the norm, and we all still depend on brick-and-mortar stores. However, an escalating trend toward online ways of doing business has become more conspicuous.

Obviously, many businesses simply can’t go online. Imagine if Caterpillar decided to go completely remote when its business relies on producing construction vehicles. Furthermore, imagine life without the local thrift store. Finally, we’ll never forget the trials of the “essential workers” in our local grocery store during the Pandemic.

At the same time, most businesses these days do need some sort of online presence just to establish their legitimacy. Potential clients may not trust a company, even a home business, without an online footprint.

Business owners should always put themselves in their customers’ shoes. We’ve all grown dependent on the Internet and on our phones. That first Google search may give prospects their first taste of the services your company offers. Also, remember that customers expect more now than ever. Some guidelines for new Veteran Small Business Owners might include:

1. Assuming you have a website (which you should), make sure multiple channels are at your prospects’ disposal. Many small business owners don’t want an overwhelming amount of business. However, all small businesses do need a certain degree of marketing. 

These days, an Internet search often gives customers the first glimpse of your company’s offerings. Business owners should keep this in mind and consider a “multichannel” approach when possible. “Multichannel” involves multiple routes to contact representatives of your business, whether by phone, chat, or email.

2. Customers now a day are more demanding than ever. We all know the “Karen” phenomenon. Of course, most of these “Karens” (or “Chads”) have been totally out of line. However, most new small business owners often can’t afford the drama of talking back. It’s not fair, but best practice is insulating your business from these kinds of complaints before they occur. 

To stay on the safe side, business procedures should go the extra mile to ensure a seamless experience for the customer. Satisfying that demanding customer before an issue arises could save a lot of time, energy, and heartache, as well as lost business. Generally, the best approach is in fact to make sure your product is, for example, perfectly packaged, or that your advertising is absolutely consistent before your product or service enters the stream of commerce.

3. Empathize with the Customer and Remember the Importance of the “Customer Journey.”

Today, the small “corner store” is not behind us. Customer service matters, possibly now more than ever, especially as we emerge from the isolation of the Pandemic. In fact, you can see a revolution in small businesses, since the Internet allows business owners to cater to far more niche groups. 

From start to finish, your relationship with your clientele matters. Remember the importance of establishing a friendly relationship. Also, consider getting creative with novel promotions and marketing opportunities. Your company’s charisma should help draw your prospects down a pleasant ride through the “sales funnel.” Smaller companies often can’t afford to come off in the same ways as huge corporations.

In conclusion, a few closing thoughts: Remember these principles still apply to “business-to-business” relationships. Finally, remember that your online presence will show up differently on your phone than on a desktop, so make sure everything shows up effectively on mobile as well as on other media. 

Small Veteran Business Owners should never forget traditional customer relations practices. At the same time, entrepreneurs do need to respect the changes to the economy that have only accelerated over the past few years. The Pandemic (or the Internet) hasn’t changed who we are, but both have changed aspects of how we conduct business.

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

By James Pruitt, Senior Staff Writer

The spark behind most small businesses transcends the profit motive. However, none of us can expect to make money while ignoring our clients. We all need to eat. At the same time, we also need fulfillment in our mission in life.

Let’s look at Elon Musk. He started his projects with the best intentions, then consistently found himself burned. Now, his projects have certainly amounted to a net positive for the good they’ve done in the world. At the same time, I think we could debate whether he’d do everything the same if given the chance for a do-over.

Few people go into a business enterprise with purely selfish motives. However, we rarely find companies with totally altruistic motives. We call those companies “nonprofits.”

A smaller company with a mission should find a community willing to share in its bounty. Perhaps this community may consist of “vegans.” Maybe “conservationists,” or maybe even “school board activists.” However, smaller companies should realistically balance their goals with their needs.

As one way to start, Veteran Small Business Owners should consider the causes they most care about. As a next step, consider your community, and what you may offer that community. Maybe you have gardening expertise. Maybe you can repair cars. You may have learned any number of trades during your time in the military. Never underestimate the power of your connections. Also never underestimate the power of your own convictions.

Involvement in the community can do wonders in expanding your business in the right direction. For example, the Danish firm Lego has teamed up with nonprofits to support Syrian and Burmese refugees. We all remember Legos not only from our own childhoods but also as we pick their detritus off the heels of our feet any time we walk around a child-centered household. Whoever came up with the idea for that toy was going somewhere.

Obviously, most of us are not Lego. However, smaller companies may use any of their own resources similarly. As the main point, smaller businesses, even home businesses, should use their offerings to reach out to their community. Brand loyalty itself can multiply your customer base. Maybe you have your own “Lego” idea that can engage your local community. 

Anything from your craftsmanship, your property, your trade skills, or even your good intentions may provide the seeds for a lucrative enterprise. One key word is “engagement.” Remember, your “goodwill” is marketable. Never underestimate the value of community connections. Also, never underestimate the value of time spent building these connections. Your own convictions and passions can launch your enterprise as much as any angel investor.

Smaller businesses often have products or services that may fit just right into the local economy. Rarely do small business owners reach the level of prominence of Elon Musk. However, good intentions do have value. In some cases, those good intentions may even propel a new business into prominence. New business owners should consider the resources they have and make the best use of anything they have to offer. 

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/