These are the qualities that are carried over from the battlefield to business.
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According to the Bureau of Labor Statistics, there are 2.5 million veteran-owned companies that employ over 5.8 million people. A veteran owns one in ten companies in ten. What Makes Veterans Good Entrepreneurs? In this article, we gain insight into traits that can be carried over from the front lines on the battlefield to business fronts that make veterans good entrepreneurs.
Discipline and hard work
"Military Precision" means the accuracy and careful planning of an activity or event. The military is bound to do its part of the job without supervision. Veterans are used to this type of discipline. Building successful business ventures is no different. Businesses often have different facets that require your attention as an entrepreneur. Sales, human resources, finance, planning, marketing, to name a few, require proper coordination to achieve the results you want. Veterans can apply the discipline and work ethic learned on the front lines to the business front and boardrooms with excellent results.
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Commitment and focus
The military is trained to focus until it wins. The obligation to serve goes beyond payment or reward. It's about service and license fees. Companies need special attention and focus on all elements that are important to success. Focusing on delivering a solution or value to customers is vital to the thriving of a business. Veterans who bring this focused attitude and values to the business environment are likely to succeed.
Successful companies require coordination between different business elements and teams. Veterans, on the other hand, are used to teamwork. It is their way of working to work in groups or organizations. Cooperation creates trust and areas of responsibility. Growing or scaling businesses beyond sole proprietorship requires collaboration that veterans have the upper hand. It's no wonder veterans are 45% more likely than non-veterans to be self-employed.
Ability to work under stress
The establishment and management of business projects does not go smoothly. There are challenges to deal with on a regular basis. The ability to deal with stressors and stressful situations is suitable for companies. Problem solving is a skill that is part of military work. Veterans venturing into the market are likely to handle and solve problems better.
Having a team that is dedicated, disciplined, hardworking, and resilient is good for business growth. While veterans can change some of their service skills to encourage good business owners to build such a team, patience is required.
Related Topics: 5 Tips For Transitioning From Military Vets To A Remote Workforce Or Company
Contracted while in the US Army in Iraq and later to Afghanistan with the departure of the state.
I have seen many situations where I have better planned my decisions and thought about possible outcomes, similar to mission briefings.
The goal of my column letter is to attract readers who militarily did not stand for business, and those who served helped learn from those who have the ability to succeed in business.