Perhaps nothing is more American than striking with your own business and exercising the freedom to create your own income in the free market. The dream of being your own boss and take sole control over your career has its’ draws that most everyone has considered at some point or another. An estimated 2.45 million business entities are veteran owned, though this is down considerably within the last decade due to the economic recession from 2007 to 2013. Still, many organizations exist to help veterans get their startups off the ground and moving towards a potential path of success.
So what makes veterans such good small business owners? We have a few ideas:
- They work well under pressure. Anyone who has had their own business knows about the high stress that accompanies career freedom. Veterans have trained to handle pressure with grace and efficiency, having to still do their military jobs in potentially life or death situations. This helps them take business stress in stride easier than other entrepreneurs.
- They understand the value of teamwork. Veterans additionally have learned to work in units to accomplish tasks and are no strangers to coordinate with associates as needed to get the job done.
- Their work ethic is fantastic. The military helps teach self-discipline, dedication, and perseverance, and veterans who are able to carry this over to their own startup are already steps ahead of the competition.
- They have a vision. Many veterans spend a lot of time considering what type of life they hope to live once they complete their military career. They likely already have a mental map already worked out and ready to go, ideas and fall-backs already in mind before they even get started.
- They don’t give up easily. When the going gets tough, veterans may be more likely than their non-veteran counterparts to stay dedicated and push through the toughest of times to ensure their business is a success.
A great deal can be learned from the veteran community, and we urge you to take notice and thank those who have served for us in the United States this Friday, November 10th. And, of course, if they have a small business, perhaps stop by and see what they have to offer: hint; it might not be tangible.