YOKOSUKA, Japan - Transitioning sailors wanting to know more about how to start their own business took part in the “Boots to Business” workshop, an intensive two-day seminar held at the Fleet and Family Service Center on board Fleet Activities, Yokosuka, June 14-15.
“Operation Boots to Business: From Service to Startup” is an entrepreneurship training program provided through Syracuse University’s Institute for Veterans and Military Families in conjunction with the Small Business Administration, according to John Torrens, a professor for Entrepreneurial Practices at Syracuse and seminar instructor.
“Veterans make good entrepreneurs. As a group, their five year mortality rate is twice as good as non-veteran owned businesses. They’ve learned a lot of things in the military that transition to business ownership so they make good owners.”
The course is divided into seven modules taught over the two days which introduces the student to basics of starting a business from scratch. The topics are: Introduction to Business Ownership for Transitioning Service Members, The Right Idea – Basics of Opportunity Recognition, Understanding Markets and Your Competitive Space, The Economics of a Small Business Start-Up, Picking the Correct Legal Entity for Your Business, Financing the Venture, and Next Step, Introduction to Business Planning.
Torrens also said upon the completion of his course, the students can sign up for an eight-week online course that expands on subjects introduced during the seminar.
Utilitiesman 1st Class Noal Shewcraft, assigned to Naval Facilities and Engineering Command, Far East, has owned businesses in the past and attended the workshop. Shewcraft is in the midst of transitioning to the reserves.
“I’m actually doing everything he’s saying by the book, it’s just I didn’t know the verbiage,” Shewcraft said.
According to Shewcraft, he considers this course as an investment in his future.
“I recommend taking this course a couple of times,” Shewcraft said. “Come in, learn it, and start looking at the information that’s given to you and start practicing now. Educate yourself for the future; don’t wait until the last minute.”
Another student, Master Chief Information Systems Technician Romere Ellis, assigned to Naval Computer and Telecommunications Station Far East, said he already is a rental property owner in the States and attended the seminar to learn more about being a small business owner.
“It’s really a whole lot of information being put out that I didn’t know as of now,” said Ellis. “I’m trying to learn more about getting incorporated. I’m trying to expand my knowledge.”
According to Bob Long of the FFSC, this class was the first of its kind ever held at Yokosuka and is part of their Transition: Goals, Plans, Success program, a series of courses for separating or retiring service members. Long said that it will be offered again in the future based on funding and availability of instructors.