Conversations from the Men's Room - What is the Rule of 72?
At the basic level, I think it is safe to say that human beings fundamentally get tremendous satisfaction out of creating something that is uniquely their own. I personally think this spirit is at the core of all human beings. I see this everyday in my own children when they develop their arts and crafts and proudly show my wife and I the bounty of the effort they put in. As we grow older, graduate from high school, college (or both) and enter the work force, we become part of an organization. While jobs vary widely (as does job satisfaction!), an objective person walking into any organization can see that waning passion is not an uncommon theme. I often wonder if that lack of passion is the cumulative result of getting farther away from your own interests and passions over time.
That is why I think the concept of entrepreneurship is so appealing to so many people. By creating your own business, you make something that is uniquely your own. You get to make the call. You get to be creative. You get to reap the financial rewards of delivering your product or service to a customer base that values you. You get to provide financial stability to your family, create a more seamless transition from military service, and (perhaps) eventually provide a business you can pass down to your kids.
Despite the “buzz” created by dreaming of your small business, why do people rarely (if ever) take the first step? There are lots of theories out there, but I personally think it is because the concept of entrepreneurship butts up again the reality of what is required to become one. Becoming an entrepreneur takes a lot of time, passion, support, and money and people quickly become overwhelmed for two reasons: they see the task as being too enormous for the undertaking and don't know how to take the first step. Most, despite great ideas, count themselves out before ever taking the first step. How much innovation is consistency lost because aspiring entrepreneurs don't know how to carry out the first steps? How many more lives can be enriched by creating a small business that is your own? How many military families could enjoy a much smoother and secure private-sector transition, if they could create their own successful small business?
This is where the advantages of the Active-Duty Entrepreneurship become clear. By using our unique military ecosystem, we are able to effectively dampen most, if not all, reasons aspiring entrepreneurs don't take the first step. Time if the most critical issue! Because we service members know when we can separate or retire, we can create a small business action roadmap, create a budget, and gradually fund our small business startup. This step-by-step approach creates huge breakthroughs over time. Rome was not built in a day…neither was any small business. Using the ADE model, you have both time and money at your disposal, not to mention job security, and healthcare for your family. Ask yourself again, what is the risk to taking the first steps outlined in Active-Duty Entrepreneur?
So, why not give it a go? Don't pass up on this opportunity it create something that is uniquely your own and ignites your passion. Your time in the military ecosystem is limited and is waiting there for you to use it!
About the Author: Jason Anderson is a 19 year USAF Lietenant Colonel who is also a small business owner and author of the book, "Active Duty Entrepreneur." You can follow Jason on Facebook (https://www.facebook.com/activedutyentrepreneur) and Twitter (https://twitter.com/ADEntrepreneur1). To read more from Jason and to order his book, follow this link: http://activedutyentrepreneur.com/