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Tips For the Previously
Incarcerated On Entrepreneurship
by Elijah Dawson
A full downloadable PDF of this article is available from here.
Abbydale Systems LLC. are not responsible for any external links.
Here is Elijah's article.
As a former offender, you already know that you'll face challenges when reentering the
workforce. But what if you did not have to explain away resume gaps or prove your value
to an employer who may not be able to look past your past. It's possible by becoming
an entrepreneur. Here are a few startup tips that allow you to showcase your best,
instead of having an employer focus on your worst.
Write A Business Plan
A business plan is a critical tool for entrepreneurs,
offering a clear roadmap for turning ideas into actionable steps. It helps define goals,
identify target markets, and outline financial projections, providing clarity and direction
as you build your business. A well-crafted business plan not only guides decision-making but
also attracts investors and lenders by demonstrating your vision and strategy. With this
foundation in place, entrepreneurs can confidently navigate challenges and stay focused on
long-term success.
Find A Mentor
There are a few different types of mentors you may consider. First is someone that can walk
you through the process of successful reentry after incarceration. It can also be highly
beneficial to have a business mentor, which is someone that has been in your professional
shoes. Consider reaching out to local business owners that you admire. This is just one
tip from Virgin CEO Richard Branson.
You can also connect to your community and, importantly, visit industry events.
Start-Up Funds
Getting the money to start a business is many entrepreneurs' greatest challenge. Since you
likely don't own a home and probably don't have savings, you'll have to look for
innovative ways to fund your new business. A few smart tips here are applying for a
microloan, which may not require a credit check, or looking for business opportunities
that don't require inventory.
Higher Education
Something else you may consider before jumping headfirst into business ownership is
going
back to school for the skills you need to succeed. If you're not sure where to start,
begin by identifying your greatest assets. Are you good with numbers? Can you work a crowd?
How much do you actually know about running a business? Then, look at your weaknesses.
You may want to take classes in marketing or accounting, for example, to fill in these gaps.
Keep in mind, however, that it's almost always best to
be open about your conviction when
applying for colleges, as this shows your future academic institute that you've learned
from your mistakes and are ready to be a productive member of society.
Hire Staff
While you might want to work as a business of one for a while, ideally, you'll eventually
get to the point where you can hire staff to help take some of the work off your plate.
Finding the right person will help you grow your business while complementing your skill
set. As a small business, you'll want to
recruit for personality and attitude
just as much as for skill and experience. Remember, you can always train someone, but not
everyone's personality will blend with your own.
As a formerly incarcerated person and future business owner, you'll be in great company.
Nearly 4% of SBOs in the US are
founded by someone with a criminal record
according to RAND. While you might experience challenges, you can overcome many of these. Start by
looking for innovative ways to fund your new endeavor, but don't forget the importance
of finding a mentor, writing out a business plan, and having the right people by your
side throughout the process. It won't always be easy, but entrepreneurship is a great
way to regain your confidence as you reenter the world of today.
At Felon Helper, we're dedicated to
supporting previously incarcerated individuals navigate this journey. For more information
and resources, visit felonhelper.com.
Please consult a licensed attorney for legal advice.
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