By Debbie Gregory.

VAMBOA hopes you enjoyed Part 1 of Small Business Ideas for Veterans.  Please find below Part 2 of this 3 part series with more small business ideas for entrepreneurs.

Heating, Ventilation and Air Conditioning Business (HVAC)

There is a great demand for HVAC experts and requires special training and licensing.  You can count on being extremely busy when temperatures are very high or low.   You might want to focus on maintenance and annual service calls as well as new installs.  You may also want to work exclusively in residential or commercial.   As a service-disabled veteran business owner, you have extra points when you bid on some contracts.

Home Inspection Services

The home inspection service business requires you to have knowledge of the construction and real estate. Plan on climbing up on roofs, attics and into crawl spaces. Having ASHI or NAHI certification may be required.  There is a huge market because almost every home sale requires a home inspection.

Identity Theft Protection Agency

If you are well versed in cyber security, this is a good business for you to get into as ID theft is a constant threat that costs consumers and businesses billions of dollars.

Junk/Trash Removal Business

You make money when people are moving, renovating or cleaning out their homes or businesses. You can also expand into document shredding.

Landscaping Business

If you have a green thumb, gardening tools and equipment, and are physically fit, this could be a great business for you. You can also provide artificial turf installation as this is a popular trend.  You may wish to focus on residential or on commercial.  Again, if you are a service-disabled veteran, companies seeking a diverse supplier network want to do business with you.

Locksmith Business

Locksmiths can be heroes to anyone who has ever found themselves on the wrong side of a locked door.  Additionally, tenants move, employees leave and there is a demand to change locks and update to locks and security that is better and offers more technology.

Off Road Tours Business

The ability to drive in rugged terrain and a love of the outdoors can lead you to start an off-road tour business.

Painter

Some jobs are best left to the experts, especially when they involve ladders, scaffolding and expertise.   You may want to focus on residential or commercial.

Personal Security/Bodyguards Business

More and more, people who are targets for kidnappers due to their wealth or fame are utilizing personal protection services. Prior security experience is highly recommended.  It addition many corporations provide their top management bodyguards.

Pest Control Services

Insects and wild animals are often a nuisance for residential homes and businesses. Your business will identify and eradicate these pests.  You can obtain monthly contracts too.

Photography

A picture is worth a thousand words, so if you have the talent to take beautiful photographs or capture precious moments at special events, consider a photography business.

Private Investigation Firm

Move over Magnum PI.  This business is a good one for those who are inquisitive and like to investigate, who are resourceful and are detail oriented.   resourceful.

Remodeling Business

If you can use remodeling design software, have a flair for design and are up on the latest design trends, this could be a great creative outlet as well as a lucrative business.  Perhaps you might want to focus on one area such as additions, fireplaces, bathrooms, kitchens.

Residential Security Consultant

You will provide expert advice and tips on various security issues to homeowners.  More and more homeowners are securing their homes with technology that they can access with their smart phones. Security stores and companies might want to partner with you for a mutually beneficial relationship.

Restaurant Business

You need to have passion for cooking and love to try out new recipes as well as be service oriented and understand all the aspects of running a business that is usually open seven days a week.

Veteran and Military Business Owners Association, VAMBOA.

By Debbie Gregory.

Delegation doesn’t come naturally for many small business owners. It’s often difficult to shift gears when you’ve been used to wearing multiple hats to get your business off the ground. But don’t underestimate the benefits of delegating. It is nice to share the workload and it enables you to move forward and be more creative.

First, you need to learn to recognize the difference between giving orders and delegating. A key to the delegation process involves documenting what you want to accomplish and then transferring the knowledge needed to your team members to get it done.

Effective delegation provides you the opportunity to focus on fueling those areas of your business that will drive longer term profits and growth. It also provides you more breathing room to brainstorm ideas enabling and providing you valuable time to think of new ways to take your business to the next level.

You also need to be able to create and implement repeatable systems. Systems should be created to provide repeatable results; rinse and repeat is the key. Also implement step-by-step workflows for time-consuming tasks that can be handed off to your employees, removing you from the process.

It is paramount that you have an understanding of each position within your company and listen to your employees with their ideas and concerns. Even though you may have an overview of the position, your employees know the minutia of it, and they may have ideas of how to increase efficiency.

No one is good at everything so be cognizant of the fact that there will be aspects of running your company that you’re not particularly good at nor enjoy doing. You need to either hire employees to do those tasks or outsource them.

It is important to know what you should be doing when it comes to delegation and it’s equally important to know what you should avoid doing.

Micromanagers aren’t very good at delegating and interacting with their team. They take on all the business responsibilities, watching over what the team does, redoing work, and stopping the flow. Letting go of perfection and trusting that your team members will take the ball and run with it will result in company growth. It is challenging to let go but it is important.

It is natural to feel anxious about trusting a capable employee, partner or outsourced service to take over the tasks you’ve done to make your company thrive. Trusting your team with specific tasks can free up your time to focus on what’s important- growing your company.

Veteran and Military Business Owners Association, VAMBOA.

By Debbie Gregory.

Starting any business takes a huge leap of faith. You’re jumping off of a cliff and hoping your parachute will open and lead you and your business to success. So how do you decide what’s really a great idea? Sure, you can rely on your gut instinct, but that isn’t the only good measure. Identifying the difference between a good business idea and a good business opportunity will serve you well on your entrepreneurial journey.

Recognizing that passion for your concept is important but will only get you so far. It is important to be both realistic and well informed as you approach the process. Successful business opportunities should fill an ongoing need. They provide a new or different product or service that also allows you to make a profit and grow your business. But just how will you translate your idea into a viable business?

Here are some key questions to ask yourself:

Why are you doing this? What’s your mission?

Your business needs a sense of purpose that sets it apart from the competition. If your business improves people’s lives in some way, that should drive your mission.

What problem are you solving?

You need to be solving some sort of real problem that exists for your customers. If not, how will you motivate people to buy your product or service?

Who is your customer?

Knowing who your ideal customer is and how you can find them is critical to starting a successful business.

How are your potential customers solving their problem today?

Identify the choices your potential customers currently have and how your solution is better.

What will potential customers be willing to pay for your solution?   Do you think you can make money?

You want to make sure your idea can be profitable, and that your planning and hard work will result in success.

While there’s no definitive way to tell if a company will be successful, if you put forth a quality offering that solves a problem and reflects your passions, you’ve greatly increased your odds.

Veteran and Military Business Owners Association, VAMBOA.

By Debbie Gregory.

Having a great business idea usually begins with filling a need. Whether you are going to sell a product or provide a service, your status as a veteran owned business or service disabled veteran owned business gives you a leg-up on the competition. The general public, corporations and the government all want to do business with you.

So what type of business should you start? The obvious first choice is something that is related to the things you enjoy. Many hobbyists go on to elevate their interests into thriving businesses at little to no cost.

Here are some examples:

Gear-heads who have a love of cars and motorcycles could launch a swap-meet style business that offers fellow enthusiasts the chance to meet up and buy, sell and trade parts.

If you love being on your computer, perhaps an online researching company would be up your ally. All you need is a phone, a computer, and internet access.

If your talents run more to the social media side of the web, social media management is an up-and- coming area that many companies are looking to outsource. Scaling up and hiring others will allow you to focus on getting new clients.

If you enjoy painting, you’re not just restricted to residential properties. A graffiti removal company is an unfortunate necessity in most cities nowadays.

Like working from home? You can become a virtual assistant. Once you are established, you can scale your business as you secure more clients.

If you’d rather be out and about, consider an errand running service. Again, as your business grows, you can hire employees. And since most people know how to do this already, your employees won’t require a lot of training.

If you love animals, there are numerous opportunities available, including pet walking, pet waste clean-up, pet day care, pet-sitting and pet transportation. You have the choice to either stick to one specific service, or choose a number of them. It’s your business, so it’s up to you.

If you know enough about a subject to advise others, start a consulting business. This could include IT consulting, fund-raising for non-profits, advertising consulting, public relations, writing services, and many more.

Gifted in math? Start a tutoring company or a tax return service. Interior design your thing? Start a design business or staging company.

If you’re willing to invest a bit more money in your business, you might consider the following:

A mobile paper-shredding service- Again, an unfortunate necessity in today’s identity theft climate.

A residence for the elderly- Turning a private home into a home for older people who do not wish to or cannot live alone can be a very profitable business. Keep in mind that who you employ to take care of the residents is probably the most important element.

Corporate health/fitness centers- Develop and manage fitness centers for corporations since higher stress, longer work days and constant multitasking make it difficult for employees to find the time to act on wellness goals. Creating an on-site wellness program works due to the amount of time spent at the workplace.

These are just a few suggestions, and with a little leg-work, you can find your niche.

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Don’t Miss This – December 13, 2018

Over 60 exhibitors looking for business with small certified firms DVBE’s, DBE’s, WBE’s, and SBE’s.