Military Spouse Entrepreneurship

Last year, I attended a conference in Austin, Texas, that centered on military spouse employment. I discovered that unlike the national unemployment rates of 3-4%, military spouse unemployment was at around 24% (pre-Covid-19 statistics).

Fortunately, the room was filled with bright minds and outside-the-box thinkers that were working hard to find solutions to this problem. I was intrigued by the percentages they shared and concerned about the room filled with women and men that had advanced degrees but could not find a comparable job.

In the world of military spouse employment, I consider myself one of the lucky ones. Early in my spouse’s career, I found a job that allowed me more flexibility than most jobs ever would.

First, I was able to telecommute.

Second, when I lived overseas, they put me on long-term leave and suspended my employment until I returned to the continental United States.

I know there are not many military spouses that have the same opportunity and instead have turned to entrepreneurship to make their own portable careers.

One year ago I left the corporate world and started my own business. Like so many before me, I wanted to be my own boss, focus on doing something I loved, and have more flexibility in my work and schedule.

If you are considering entrepreneurship and starting your own business, can I share a few thoughts for you to consider before making the leap?

Here are five thoughts on entrepreneurship:

1. What is your why?

This is all about your motivation for making this career move. For most spouses, one of the easy answers is because there are so few other options. However, you might find that if this is your only motivation you may not be able to sustain the long-term commitment that entrepreneurship requires. That’s not meant to discourage you, only to encourage you to really analyze what type of environment you thrive in and if entrepreneurship supports that environment.

2. You just became your own boss and your own employee. 

Not many of us are great at being both boss and employee. Not only are you managing your new business’s backbone (accounting, marketing, business development, and more), but you are also responsible for doing the daily tasks that make each of those areas function. Great advice I received in this area was to start in small doses, research extensively, use every resource you can, and don’t expect to excel in every area.

3. Consider your resources.

Free resources are going to be especially helpful when you are just starting out and don’t have the capital needed to hire help. There are Facebook groups, blogs, articles, and YouTube videos for every topic on business and entrepreneurship that you can think of. Military spouses can find additional help through associations and organizations like the Association of Military Spouse Entrepreneurs or the Small Business Administration.

4. Do your research!

Research your competition and the market for your product or services. Is it saturated with other entrepreneurs? Will you be able to carve out a niche or brand yourself effectively to stand out? Does your industry have a bad reputation? Can you identify the market strengths and weaknesses you will encounter as a new business owner?

5. What is all this going to cost?

There is a definite financial commitment needed to start a business. Even with a bootstrap startup, there will be costs. Make sure you’ve identified that you can meet those financial needs or have a plan to get the capital. But, this thought is not just about money. There is a time and energy cost associated with running your own business. Can you take that time away from your family? Do you have a back-up plan when deployment or a TDY comes around? What about when you PCS? Can your business sustain a few weeks or even months of you being in transit?

 

It took me many years to decide to strike out on my own and start my own business. And, for me, it’s been the absolute right decision and a great next step in my own professional career. I also recognize that this is not a great option for everyone. As a huge advocate for military spouse employment opportunities, I hope these five thoughts help as you research your own options. If you have decided against starting your own business check out Hiring Our Heroes, a great resource for what’s happening in the world of military spouse employment.

Know that I’m cheering you on if you do choose entrepreneurship!