Owning a business while on Active Duty

[Ping Hymas]

I'm looking for folks on Active Duty who are running business while still "in".  On my Podcast I interview Active Duty Entrepreneurs and ask them to share advice and tips to those that would like to follow in their footsteps.  Generally those who are running successful businesses don't necessarily advertise their successes for a number of reasons, some valid, some not so much.  If you or someone you know is running a business while on AD, PM me or checkout our website www.activedutymillionaire.com and drop us a line there.  Our goal is to help others start and run their businesses NOW rather than wait until a decision point forces a different choice.  I think most will be surprised at the number of folks on AD who are running 7 figure businesses, I know I was.

[icohftb]

https://www.businessinsider.com/army-sergeant-gregory-mcqueen-ran-prostitution-ring-at-ft-hood-2015-3

[Ping Hymas]

Not exactly what I was looking for.  Illicit stuff doesn't pay out, just talk to that Bruce Wayne guy, the airline pilot who was doing something similar out of crash pads in Houston I believe. 

[Spilfer]

This sounds interesting. What's your podcast if you don't mind?

[Ping Hymas]

https://www.activedutymillionaire.com/work-with-us/

 

Check us out on Itunes, Google play, or just off the website.

[AZwildcat]

21 minutes ago, Ping Hymas said:

https://www.activedutymillionaire.com/work-with-us/

 

Check us out on Itunes, Google play, or just off the website.

Started listening to this on my commute and it's really good stuff...they feature the wingman watches on one of the first episodes.

[Ping Hymas]

Shane Clark C-5 pilot talks house flipping from a distance. How to vet a potential partner. Why doing business in Chicago is a PITA!

 

[HuggyU2]

On April 21, 2016 at 9:49 AM, Ping Hymas said:

Why doing business in Chicago is a PITA!

Chicago??  Aren't there some financially-savvy politicians there??

 

Edited April 22, 2016 by Huggyu2

[Ping Hymas]

Love that Pic Huggy!!!  Our latest episode features Ashley Drake. Active Duty Army Captain and owner of a CrossFit glove company. Look, if a mother, wife and active duty officer can build a 7 figure business, what is your excuse? Why wait until after AD?  Start now, so when others are crowding job fairs, you can take your Tricare and retirement and run or...

https://itunes.apple.com/us/podcast/active-duty-millionaire-podcast/id1094054527?mt=2&i=367228557

[Ping Hymas]

Think owning a business on while on AD is legally OK...maybe, maybe not?  Go talk to the JAG!!!  It's been tough sorting my way through entrepreneurship.  Here's the lessons from this week:

https://www.activedutymillionaire.com/go-talk-jag-smoking-hot-wife/

I guess I should enroll in some cheesy online MBA pgm and pretend to be business savvy.  

[panchbarnes]

 

Listened to a few episodes.  Not bad, the message will resonate with like-minded people and have no effect on the "zombies."  Disagree on a few points, but overall I agree with what you are preaching. 

It's funny and sad to see my retiring O-5 and O-6 friends scramble to find a job/income stream ~6 months out from retirement.  Worked out for them at the end but it was stressful for them as they have wife and kids they are responsible for.  Then you have the O-5 and O-6 plotting to return as a contractor zombie and shuts down leadership mode and avoids making any "risky" decisions in fear of angering potential future employers and colleagues.  Lessons learned, will not let that be me.  Passive income is the way to go, VA loan is one of the best military deals out there.

Only critique I have is the conversations drag on or drift off topic from time to time.  Should improve with time and practice. 

Hope you never resort to be like Armando Montelongo and sell your "system"!

/ramble off

 

[BigFreddie]

I remember a guy started a landscaping business (yards/grass in summer, snow removal in winter, etc.) and he did very well with it.  The only issues started when he wouldn't fly because he needed to be home to manage the business.  He was close to retirement then and I think he decided to drop his paperwork.

[General Chang]

More people should read this string...there are many ways to make your dreams come true, but still stay in the AF and potentially become future senior leaders.  I applaud those of you who have pursued this path.  Thank you for your service.

[SurelySerious]

More people should read this string...there are many ways to make your dreams come true, but still stay in the AF and potentially become future senior leaders.  I applaud those of you who have pursued this path.  Thank you for your service.

[pcola]

On May 20, 2016 at 7:06 AM, General Chang said:

More people should read this string...there are many ways to make your dreams come true, but still stay in the AF and potentially become future senior leaders.  I applaud those of you who have pursued this path.  Thank you for your service.

I think the Changer is gunning for the official Chief of AF Retention position.  You'll see the official AFPC mail robot announcement for the position next week:

Requisites:

1. Graduated MSG Sq/CC.

2. 2 years in-res PME time total.

3. 2 Bronze Star Medals ( BSMs with V devices only accepted on case-by-case basis with single-sided narrative describing qualifying circumstances)

4. Instructor qualified on C-method PRFs and double-sided 1206s.

Highly Desired:

1. 4 years in-res PME time total

2. WIC level pepper grind skills.

3. SAPR level 12 qualified.

4. Graduated or sitting MSG/CC.

[panchbarnes]

The Quick Jet and Natural Grip podcast/stories are very inspiring.  Examples of why this is a great country.  Have an idea/not happy about your job?  Hard work and a little bit of luck then you may be able to quit the rat race early.  If it doesn't work out at least you'll have stable income and (free) healthcare to fall back on until you find the next venture.  I'm not smart on the FAA regulations for commercial transportation, but I'm surprised there aren't more MAF pilots doing charter business on the side.  Granted, it's probably easier to find customers out of Vegas.

The military service is a very honorable service that will end in some point.  Don't let the military take advantage of you.  Utilize the great training and work opportunities to enhance your knowledge, skills, and abilities for your next career.

[bb17]

Is there any conflict or interest or reason why the AF would give you trouble for owning your own company while going through training? I will be a tanker Reservist and will be leaving my civilian engineering job to go through the AF training pipeline. My goal is to set myself up as a part time engineering consultant for hire (have no desire to work for a big engineering company anymore). I'd like to get my company licensed and incorporated right before going to OTS, so it has a couple years for the name brand to mature and all that. I may or may not be pulling in small amounts of money from it during that time and I will be putting minimal to no work into it during training but I'd still like to have it set up for various reasons. Will this get me in trouble or is it somehow illegal to have this going while being on orders during training? 

Edited June 9, 2016 by bb17

[JarheadBoom]

Plenty of Guard & Reserve folks out there who are also business owners; I had a few in my SQ at one time, and I'm friends with a fellow Boom who is making it work right now.  Depending on the nature of the business, and how involved you are in the day-to-day workings of it, it can get difficult to manage time away to maintain currency/proficiency in the jet.

Bear in mind that as Guard/Reserve, when you're on AD for school tour/seasoning, Big Blue expects your head to be in THEIR game, not yours.  Especially as a new guy, getting wrapped up in your .civ business issues while on a school tour might be an acceptable excuse/reason for unacceptable AF performance once.  More than that will not garner any sympathy, and will likely be met with negativity you really want to avoid.