The men and women of the armed forces who put their lives on the line to keep our country safe — and who spend extended periods of time away from their families and loved ones in living conditions that are somewhere between difficult and dreadful — are certainly deserving of our gratitude, regardless of where we are on the political spectrum. Remember: we’re talking about military personnel here, not politicians!
What’s more, there is another way that these men and women, upon transitioning back into their civilian lives, are making a valued and vital contribution: they’re launching businesses with a well above-average success rate. Here are the five key reasons why Veterans make great entrepreneurs:
- Discipline
While the media loves covering attention-grabbing, “lightning-in-a-bottle” entrepreneurial stories (almost as much as it enjoys covering when some of these businesses crash and burn!), the truth is that succeeding as an entrepreneur is a lot less about glamour, and a lot more about grind. Veterans have the discipline required to stay the course — and remain focused — as opportunities and challenges emerge.
- Teamwork
The most successful entrepreneurs aren’t virtuosos. They’re conductors who know how to build strong relationships and delegate accordingly. Veterans have well-honed teamwork skills and know, without a doubt, that success can’t and won’t happen if leaders are working in silos or on an island.
- Sacrifice
Virtually all entrepreneurs know (or will discover) that for at least the first few years – and sometimes longer – it’s not about cashing in and surging up a few income brackets. It’s about putting your head down, rolling up your sleeves, and building equity. This typically means working 60+ hours a week, and taking care of tasks and activities when the rest of the employed world is enjoying a holiday, taking a vacation, or sleeping late on the weekends. Veterans could write a book (and some have) on the importance of sacrifice, and how to “get going when the going gets tough.”
- Pressure
Many Veterans have faced extreme pressure situations, and are therefore well-equipped to deal with the fact that being an entrepreneur is a high-stress job that involves wearing many different hats.
- Reliability
Veterans have proven – often under dire and dangerous conditions – that they’re reliable, dedicated and follow-through on their commitments. All of these qualities are essential for success as an entrepreneur. Indeed, their well-earned reputation for integrity is a big reason why many lending firms offer small business loans for Veterans that have favorable terms, interest rates, and other benefits.
The Bottom Line
These are just some of the key strengths, abilities and talents that many Veterans bring to the entrepreneurial world, and help support their success on the journey from dynamic startup, to established enterprise.