Your first business plan. Your first employee. The training course that gives you an edge in the marketplace. Finding a mentor. Receiving the capital you need to expand your business. The turning point when long, hard hours begin to pay off in steady streams of income.
It’s the moment you realize you had an idea that worked – an idea you turned into a business. A dream that became reality.
Each of these pivotal moments – no matter how big or small – is a moment that matters in the veteran entrepreneurship journey. They represent growth, employment, service, delivery, and freedom.
These moments that matter are universal, and the 2.5 million veteran-owned businesses in the U.S. are experiencing them every day as they contribute approximately 1.4 trillion dollars to the nation’s total sales/receipts per year.
SBA is celebrating, connecting, and empowering veterans, service members (including National Guard and Reserve members), and military spouse entrepreneurs and business owners – past, present, and future – this National Veterans Small Business Week (NVSBW) 2017 by highlighting the moments that matter in their journeys.
Bringing Business to Life
Retired U.S. Air Force Major Gary Peterson is the owner of One Community Auto in Albuquerque, New Mexico. After his 23-year Air Force stint, Gary worked as a business advisor at the the local Veterans Business Outreach Center .
Giving advice and encouragement to other aspiring entrepreneurs inspiried Gary. He decided to take the Boots to Business course, and dusted off a great small business idea. One Community Auto has a simple mission—help non-profits raise money through car donations. Gary’s company is the product of a lifelong passion for cars, combined with an altruistic spirit to give back to the community.
Boots to Business opened the door to several SBA resources that were integral to Gary’s success as a business owner. He connected with SBA resource partners, which included the Albuquerque Veterans Business Outreach Center (VBOC). He also developed relationships with the local Small Business Development Center (SBDC), SCORE, SBA District Office, and the Procurement Technical Assistance Program (PTAP). Gary’s sister, who helps with front office operations, even leveraged the Women’s Business Center on behalf of One Community Auto.
When Gary first started One Community Auto in 2013, he was the sole employee, had one charity partner, and a total year one revenue of $26, 000. Within four years, his business has grown to partner with 16 local charities, and five employees, which includes one part-time veteran. Now a fully profitable business, Gary intends to expand One Community Auto and its services across New Mexico – ultimately aiming for a nationwide presence with franchise units in every state.
For veterans seeking business ownership or self-employment, Gary has a few tips:
- Create a business plan as soon as possible. Even if the plan is preliminary, a one-page business model canvas helps you at least sketch out your ideas.
- Take advantage of all available resources. Get help early with resources, especially those offered by the SBA. Organizations like VBOC, SBDC, and SCORE can guide you through everything you need to do to achieve business ownership success.
- Use your military experience to guide the way – and don’t forget to take care of yourself. The military teaches you how to be mission-focused, disciplined, a problem solver, a team player, and most importantly, teaches you how to withstand stress. Use what you learned to carry you through your business ownership journey.
If you’re a military spouse, veteran, or service member interested in starting, purchasing, or growing a business, the SBA has the resources to support your journey to finding your moment that matters. Visit www.sba.gov/myvetbiz to find out how.
Do you have a moment that matters to share with OVBD? We want to hear it! Share your story with us using the hashtag #MyVetBiz on Twitter and Facebook.