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Psychological Barriers to Starting a New Business

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By James Pruitt, Senior Staff Writer

Veteran Business Owners have a right and a responsibility to market their talents and skills. Successful paths are myriad, as are roadblocks. Many of these roadblocks are psychological. Here is a list of some of the most common misconceptions veterans often have that impede their paths to running a successful business.

1) “I don’t have the resources.”

A Veteran Business Owner need not invest unwieldy amounts of cash or resources to carve out a place in the economy. “Start small” is often the best strategy. Your best resource is yourself. 

A new business can start with meager resources, assuming a good concept. Good planning conceivably may keep the dream alive. 

Consider Sophia Amoruso, founder of the fashion company Girlboss Media. She literally started her fashion company browsing secondhand stores, selling her finds on her Myspace site. Also consider Khan Academy. Sal Khan’s company evolved from tutoring sessions he provided a family member. Other family members showed interest in his lesson plans for themselves, and thus his company turned into a marketable idea.

Marketable ideas often stare potential entrepreneurs in the face for years before they spark inspiration. Often, these ideas require little to no investment at the outset. Consider your talents, hobbies, surrounding circumstances, and social connections. Good ideas are often free and can sow fertile seeds that lead to rich fruits over time.

2) “I can’t do it,” aka “Imposter Syndrome.”

When lightning strikes, and you have a great business idea, one natural reaction might be some variant of “I can’t do it.” 

If an entrepreneur needs affirmation, online communities can frequently offer support, a sounding board, or at least ideas for development. In the end, remember that nothing can take away your relevance to the world around you.

However, “imposter syndrome” is nothing new. Consider Starbucks CEO Howard Schultz and his comment “[v]ery few people, whether you’ve been in that job before or not, get into the seat and believe they are now qualified to be CEO.”  Also, Consider Sonia Sotomayor, and her quote “I have spent my years since Princeton, while at law school and at various professional jobs, not feeling a part of the worlds I inhabit.” The best and brightest of us often suffer from self-doubt. Often these doubts are simply an indication that we have the wisdom to know what we don’t know. 

3) I’ll Fail

Failure is inevitable in business and in life. The first failure can lead to greater success in later attempts. Everyone who lives fails. Frederick W. Smith’s first service, Zapmail, cratered before Fedex could focus on his core concept. Similarly, Amazon took years to turn a profit

Of course, no one wants to fail big. Not everyone has $350 million to burn, as did FedEx. However, the early failures serve as necessary steppingstones to creating a well-oiled machine. Failures of all kinds, whether administrative errors, operations inefficiencies, and hiring mistakes, are necessary to design an enterprise that fits well into the economy. Depending on resources such as financing and social support, slow and steady may win the race. 

4) “The Timing isn’t Right”

Consider a spore in your garden that may sprout hundreds of plants. The most inopportune times may give rise to the perfect storm to get your idea going

Even mulling the idea in your own head can become your own stress relief exercise. The smallest measures can build inertia. Building a web presence, for example, you can start with little effort and adapt to a changing schedule. Your relationship with your idea can morph gradually as it takes on a greater part of your life. Short of huge commitments, there is no wrong time to get started on a business idea.

 

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/ 

A VAMBOA PUBLIC SERVICE ANNOUNCEMENT

VAMBOA believes that this information is important to our membership and all Veteran Business Owners especially those who are Service-Connected Disabled Veteran Business Owners due to Agent Orange.

The Veterans Administration announced two major decisions related to presumptive conditions associated with Agent Orange and particulate matter exposures during military service in Southwest Asia.

Agent Orange

VA will begin implementing provisions of the William M. Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283), adding three conditions to the list of those presumptively associated with exposure to herbicide agents, more commonly known as Agent Orange. Those conditions are bladder cancer, hypothyroidism, and Parkinsonism.

“Many of our Nation’s Veterans have waited a long time for these benefits,” said Secretary of Veterans Affairs Denis McDonough. “VA will not make them wait any longer. This is absolutely the right thing to do for Veterans and their families.”

VA will apply the provisions of court orders related to Nehmer v. U.S. Department of Veterans Affairs, which may result in an earlier date for entitlement to benefits for Veterans who served in the Republic of Vietnam during the Vietnam War. Vietnam War-era Veterans and their survivors who previously filed and were denied benefits for one of these three new presumptive conditions will have their cases automatically reviewed without the need to refile a claim. VA will send letters to impacted Veterans and survivors.

Particulate Matter Exposures

The Secretary recently concluded the first iteration of a newly formed internal VA process to review scientific evidence to support rulemaking, resulting in the recommendation to consider the creation of new presumptions of service connection for respiratory conditions based on VA’s evaluation of a National Academies of Science, Engineering, and Medicine report and other evidence. VA’s review supports the initiation of rulemaking to address the role that particulate matter pollution plays in generating chronic respiratory conditions, which may include asthma, rhinitis, and sinusitis for Veterans who served in the Southwest Asia theater of operations during the Persian Gulf War and/or after September 19, 2001, or in Afghanistan and Uzbekistan during the Persian Gulf War.

“VA is establishing a holistic approach to determining toxic exposure presumption going forward. We are moving out smartly in initiating action to consider these and other potential new presumptions, grounded in science and in keeping with my authority as Secretary of VA,” said Secretary McDonough.

VA is initiating rulemaking to consider adding respiratory conditions, which may include asthma, sinusitis, and rhinitis, to the list of chronic disabilities based on an association with military service in Southwest Asia, Afghanistan, and Uzbekistan during the covered periods of conflict. VA will conduct broad outreach efforts to reach impacted Veterans and it encourages them to participate in the rulemaking process.

For more information, visit our website at Airborne Hazards and Burn Pit Exposures – Public Health.

VAMBOA, the Veterans and Military Business Owners Association hopes that this article has not only been valuable information.  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/ 

 

How To Increase Your VA Disability Compensation

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By Debbie Gregory.

If you’ve been approved for service-connected disability benefits from the United States Department of Veterans Affairs (VA), the agency will assign a disability rating that specifies the seriousness of your condition. You can be given a rating of 0 to 100 percent, and this percentage is associated with a certain monetary amount you’ll receive for the disability.

Your VA disability compensation benefit is not static. As a matter of fact, your benefit can be increased by the VA if you know the right steps to take.

Even if you are currently receiving compensation from the VA, you can still request an increase in your compensation for a new disability. For example, you are receiving disability for a back injury you received while in the military, and now you are experiencing hearing issues that may be related to your military service.

Additionally, you can file a secondary claim for a new disability that’s linked to a service-connected disability you already have. For example, you might file a secondary claim if you develop arthritis that’s caused by a service-connected knee injury you got while on active duty.

You can also file for an increase to an existing disability because the condition has gotten worse. You may experience greater pain, suffer broader or more challenging symptoms, or find that your day-to-day functioning has decreased.

Keep in mind that any time you request an increase in your VA disability rating, you are opening your claim for re-evaluation. The VA can actually lower or terminate your existing rating, so make sure you have all the proper documentation and paperwork to support your claim.

To reduce your disability rating, the VA must have specific evidence that your condition has improved. The responsibility of proof is on the VA. However, it’s important to be diligent in protecting your rating. It’s important never to miss a reexamination appointment because the VA can reduce or terminate your rating without warning because of this.

If you have been denied a rating or you feel it is too low, you can challenge the VA’s decision with an appeal known as a “Notice of Disagreement.”

By Debbie Gregory.

On January 5, 2019, House Representatives Tulsi Gabbard (HI-02) and Gus Bilirakis (FL-12) introduced bipartisan legislation to ensure that retired members of the Armed Forces who have a service-connected disability will be able to receive both disability compensation from the Department of Veterans Affairs (VA) for their disability in addition to their retirement pay acquired through their years of military service or combat-related special compensation.

The Retired Pay Restoration Act was referred to the Committee on Armed Services, in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Under current law, veterans receiving 40% or lower rates of service-connected disability compensation are not eligible for full retirement and disability benefits. The Retired Pay Restoration Act would correct this error and allow veterans receiving 40% or lower rates of service-connected disability to receive both military retired pay and veterans’ disability compensation or combat-related special pay.

Each representative introducing the act made a statement via a January 10th press release:

“Our veterans have dedicated their lives in service to our country, and should not be penalized for that service due to a bureaucratic rule,” Rep. Gabbard, founder and co-chair of the Post-9/11 Veterans Caucus said. “Retirement benefits and disability benefits are two different things, and one should not be counted against the other.”

“Our nation’s veterans have earned and deserve the utmost respect, best possible services and care for the sacrifices they and their families have made to defend this country—especially under the constant threat of global terrorism,” said Congressman Bilirakis. “However, under current law, some military retirees have their disability pay deducted from their retirement pay, which is unconscionable. These are two completely different benefits, and it is wrong for them to count against one another. Plain and simple, it isn’t right to deny Veterans the financial compensation they have earned and deserve. I am honored and grateful to have Representative Tulsi Gabbard working alongside me this year, in a bi-partisan manner, to champion this important cause. I am hopeful that with our combined efforts, this will be the year we are able to finally rectify this injustice.”

If you would like to show your support, you can sign a petition to be delivered to the White House and Congress at https://petitions.moveon.org/sign/honor-our-military-heroes.

By Debbie Gregory.

An investigation conducted by the Government Accountability Office (GAO) has revealed that of the $6.2 million budget allocated to the Department of Veterans Affairs for suicide prevention outreach in fiscal year 2018, the agency only spent $1.5 million by the end of the fiscal year, leaving $4.7 million unused.

Suicide among veterans is disproportionately higher than the rest of the U.S. population, especially among veterans younger than 35. And in light of the VA leadership touting suicide prevention a top priority, this information begs the question, why?

The suicide prevention budget was meant to cover outreach via social media posts, public service announcements, billboards, and radio, bus, Facebook and print advertisements, which all declined in 2017 and 2018, as did the effort on suicide prevention month.

“VA has stated that preventing veteran suicide is its top clinical priority, yet [the Veterans Health Administration’s] lack of leadership attention to its suicide prevention media outreach campaign in recent years has resulted in less outreach to veterans,” the GAO report states.

The GAO investigation came at the request of Rep. Tim Walz (D-MN), the ranking Democrat on the House Committee on Veterans’ Affairs. He said that the findings conveyed “a deeply troubling level of incompetence” by President Donald Trump’s administration.

“At a time when 20 veterans a day still die by suicide, VA should be doing everything in its power to inform the public about the resources available to veterans in crisis,” Walz said in a statement. “Unfortunately, VA has failed to do that, despite claiming the elimination of veteran suicide as its highest clinical priority.”

The VA blamed leadership vacancies for the downturn, with the former national director for suicide prevention, Caitlin Thompson, resigning in July 2017, and not being replace until the new director, Keita Franklin, was appointed in April, 2018.

“Officials reported not having leadership available for a period of time to make decisions about the suicide prevention media outreach campaign,” the report states. “GAO found that [VA] did not assign key leadership responsibilities or establish clear lines of reporting, and as a result, its ability to oversee the outreach campaign was hindered. Consequently, [the VA] may not be maximizing its reach with suicide prevention media content to veterans, especially those who are at-risk.”

“This year, I’m making sure that we are spending the funding 100 percent,” said Dr. Steven Lieberman, who is in charge of the Veterans Health Administration. “I’m reviewing the budget monthly and making sure we have obligated all the dollars. We have to get it right.”

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