Afloat again p1 - Military Success Stories - Military Times EDGE

Lt. Col. Jeff Prowse knew his Marine Corps experience was a hot commodity in the big-money world of defense contracting — because as he neared retirement, the contractors wouldn’t let him forget it.

“I must have gotten 70 or 80 offers,” the former CH-46 Sea Knight helicopter pilot said.

But four years at the Pentagon had given Prowse his fill of Beltway bureaucracy. He wanted to make the drive from the Pentagon parking lot to his family’s home at Smith Mountain Lake, Va., for the last time. So after his retirement ceremony, he headed down I-95 with plans to work for a construction contractor in the popular vacation destination.

One problem: It was January 2009, not a great time to get into construction. It soon became clear to Prowse that he would have to come up with Plan B. And that’s when he started to realize how much clout a 26-year military career can carry, even far outside the world of contracting.

Prowse was weatherizing boats part time when he ran into Tom Buck, a retired Navy captain who worked in real estate before buying and refurbishing Mitchell’s Point, a waterfront campground and marina on Smith Mountain Lake in 2003. Buck, who knew Prowse through mutual acquaintances, was looking for someone to take over a boat rental business at the marina, and he pitched the business idea to him.

“I was impressed with Jeff as an enthusiastic, go-go guy,” said Buck, a former supply officer. “And of course we had the military background in common.”

Prowse was a little skeptical at first, but he trusted Buck’s judgment: “You don’t get to be a captain in the Navy if you’re a fruit bat.” After analyzing the numbers, he agreed to come aboard.

SML Boat Rentals got off to a good start last summer, grossing about $87,000, and Prowse expects to double that figure this year. Best of all, he says: He hasn’t made a single PowerPoint slide in more than a year.

What he learned along the way:

Use your reputation

The civilian world recognizes the value of military service, Prowse said, and you’ve earned the right to capitalize on that reputation. So don’t be afraid to market yourself as a veteran.

“You definitely need to be outgoing, and let them know who you are” and what experience you have, he said. “People will ascribe something to you: That guy is a retired Marine.”

When opportunities arise, they’ll think of you — and the integrity and professionalism associated with the military.

You know more than you think

Most veterans “would be amazed how far above the average businessman they are” because of their military training, Prowse said.

He attributes his attention to detail, professionalism and even his customer service skills to his military experience.

“You end up being very customer-based if you were in the military,” said Prowse, who flew missions to pick up wounded troops during the drive on Baghdad in 2003. “Somebody needs a helicopter — you’re there.”

As for the day-to-day work — scheduling, maintenance — it’s second nature.

“It’s exactly what you’d do in a helicopter squadron ... [except] people who rent boats take better care of them than helicopter pilots,” he said.

Find a subject-matter expert

For the aspects of the business that weren’t second nature, Prowse had a mentor close at hand.

Buck has helped him with everything from getting a good accountant and paying taxes to getting a credit card machine and setting up the register. Without his help, “I would have had to learn everything the hard way,” Prowse said.

Buck has a vested interest in SML Boat Rentals’ success; he loaned Prowse $50,000 in seed money to get the business going. The initial plan was to repay the loan over three years, but Prowse says he’s on track to pay it off in two. Borrowing that money was the most nerve-racking part of starting the business, he said, but Buck wasn’t anxious.

“I knew [Prowse and his wife, Debbie} could pay me back, because I knew the business,” he said. “We invested in them and it paid off. We can help other people to help themselves, and they help us, too.”

Follow the market

Buck has seen a lot of seasonal businesses come and go at the lake — people who are “glassy-eyed” about opening a restaurant, but “they don’t do the math, they don’t do the numbers. They don’t do enough due diligence to see if there really is a market for what they’re trying to do.”

He knew better.

He knew, for example, that his campground would fill a niche as developers bought up property and built condos around the lake. And he knew that people would be looking for vacation options closer to home as the economy tanked — and some would be selling their boats at good prices.

Prowse, likewise, is quickly learning to tailor his business to the market. He jettisoned his plan to buy a lot of speed boats on Buck’s recommendation, buying sedate pontoon boats instead.

Prowse isn’t pulling in the money he could be making working for a defense contractor, but he’s made lots of new friends among his customers and his teenage boys love life near the lake.

And as much as his military experience has helped him establish business relationships and build his new venture, he points out important differences. For example, he has bought 20 boats in the last year, while the Maritime Prepositioning Force (Future) didn’t buy a single ship during the four years he worked for the program.

“I love being able to make my own decisions about my business without justifying them to higher headquarters,” he said.