Taking the Plunge into
Entrepreneurship with a Disability
Photo Credit:
ferobanjo, Pixabay
A disability can happen to anyone, from veterans wounded in
battle to a child born with a disability to an adult who suffers an injury in a
car crash. Not all disabilities are visible; many people suffer from mental
health issues, which are legally considered disabilities. Whether your
disability is physical or mental, it shouldn’t stand between you and your
aspirations to start a new business. Entrepreneurship is achievable. You just
need a solid plan in place to find which business will suit you best, how to
get funding, and how to find customers.
Choosing a Business
One of the first steps in your journey will be to determine what business you’d like to start.
You can be scientific with your approach and select the industry in which
you're interested, research the market, identify a need, and create a business
to fill it. You can also choose to just dive into something you love and wait
for the money to start flowing.
Unfortunately, neither of these approaches is ideal for most
people. Combining a little bit of each is really the best option. You obviously
need to be passionate about what you do, but you also need to be realistic
about your capabilities (skills, money, time, etc.). Find out what you're truly
passionate about and figure out how to make a business out of it. Also, be
observant and constantly look for unmet needs. You want a product or service
that you would buy if it were accessible and affordable.
Once you’ve figured out what you want to do, you can
increase your odds of success by finding a proven business model and
replicating it in a different market. You can also choose to buy a franchise,
which provides you with a proven business model and outside support for your
business. If you don’t decide on franchising, you’ll need to obtain funding.
Obtaining Funding
Although federal and state government agencies do not
provide grants to people with disabilities for starting a business,
low-interest loan programs that help disabled people obtain
startup financing are available. For example, Illinois has assistance to entrepreneurs
if the company will be 51 percent owned and managed by persons who are
minorities, women, or disabled. Their program offers loans up to $50,000 or 50
percent of a total project cost.
Also, many private companies offer funding assistance for
anyone who is disabled and wishing to start a business from the ground up. For
example, Accion provides fairly priced, flexible loans
to disabled people. They are a nonprofit organization that helps small business
owners succeed and thrive. Search your local area for similar organizations.
Despite a lack of federal and state funding for the
disabled, there is federal and state funding for veterans. If you’re a disabled
veteran, consider seeking grants from the government for veterans. You can fill
in any remaining financial gaps with assistance for the disabled from private
companies.
Finding Customers
You’ve chosen your business. You’ve got the funds. You’re
ready to launch your business. So how do you find customers to buy your product
or use your services? There are tried and true methods
to obtaining customers. You’ll need to advertise on the Internet (social media,
Google search, etc.), television, radio, and print. Obviously, these methods
will be what you spend the most money on, but they’re popular options for a
reason – they work.
You’ll also need to network and get the conversation flowing
about your business. Paying for ads is great, but you still need word-of-mouth
referrals and recommendations (the original advertisements). Look for
opportunities to team up with other businesses who are targeting the same
customers. For example, if the hair salon you just started is targeting college
students, and the local pizza joint is targeting college students, then strike
a deal. They can attach a coupon for your service to their pizza boxes, and you
can attach a coupon for their pizzas to your receipts.
A veteran’s health can be altered for life because of a
disability. Some veterans are amputees, others suffer blindness, and some
experience mental health issues related to their time in
the service. Both physical and mental disabilities can affect civilians too.
Regardless of your status or disability, you can successfully launch a new
business. In the future, you’ll look back and be proud to know you didn’t let
your disability hold you back.
Author: Erica Francis
