Starting a business can be a great decision. On one hand, it’s the perfect way to have a career as a military spouse and generate another income for your family. On the other, it’s not always the right path for everyone and can be risky if you’re not prepared. Is entrepreneurship right for you?
Here’s 5 questions to ask yourself before getting started:
Why do I want to start a business? Is it for more income or to have something to do during deployment?
While those are great reasons, I want to encourage you to really dive deep into figuring out your why. Is it because there’s a group of people you know you can help. Do you want a better life for your family? Do you want to make more so that you can give more? Everyone’s “why” is different. Make sure you know yours. Your “WHY” is what’s going to keep you motivated and encouraged when the journey gets tough. Write it down and put it somewhere so you can see it every day.
Do I have the right business model for the military lifestyle?
The business model you choose needs to allow you to be able to pick up and move your business if need be. We live in an amazing time where there are so many different types of businesses you can start that allow you the freedom to work from anywhere you’re stationed. However, it can be a risky venture if you decide to create a business that doesn’t allow for this flexibility. Creating an online store, offering services, selling on Amazon, and blogging as a business are just a few great examples. If your business requires you to have a location, often called a brick and mortar establishment, then it will be very difficult to relocate.
Am I passionate about what I want to do?
For the long-term success of any business, you need to love it. Is this a business you see yourself doing a year from now? Five years from now? Burn out is real is entrepreneurship. If you don’t enjoy talking about your business, helping your clients or genuinely like the products you sell, then this can quickly lead to frustration. Make sure you love what you do and the products or services you’ll be selling.
Do I have time to dedicate to this business?
You don’t have to work 40 hours a week to have a successful business; however, a business does require you to put the time in if you want to generate income. This may mean realigning your priorities and not over programming your social or volunteer schedule. If you already have a 9-to-5, you’ll need to carve some time out early in the morning, late at night or on the weekends to bring your ideas to life. If you have young children, you’ll want to take advantage of nap time! It’s absolutely possible, you just have to be motivated enough to schedule specific times on your calendar each week to devote to this new venture.
Am I willing to learn what I don’t know?
You are incredibly talented in your area of expertise. But starting a business means you’ll have to wear many hats in the beginning. You’ll get to do what you do best, but you’ll also have to take on some roles such as accountant, bookkeeper, social media manager, marketing planner and website developer. Some of these tasks are very expensive to outsource when you’re getting started. Many of these roles aren’t difficult but they do take some time to learn. The great news is that there are many resources available to you so that you can learn fast and have your new business up in no time. Be willing to invest in yourself and your path to success will be much faster.
If you answered YES to these five questions, it’s time to get started on your entrepreneurial journey. I want to encourage you to take action today! Entrepreneurship has been the best choice for our military family and so many ambitious spouses. You can do this. Take one step today towards making your dreams a reality.
Read more from Kayla Roof: 7 Reasons to Start Your BusinessRead comments