Statistics show that businesses owned by veterans employ almost six million people. In fact, one out of 10 businesses is a veteran owned business. This is not surprising, because many of the abilities and skills learned in military training and frontline combat translate well to entrepreneurship. Here are some of the reasons why veterans make such excellent entrepreneurs.
Veterans Have Dedication
Through their military training, veterans learn the importance of service, loyalty, dedication, and focus. Bringing these values to their business roles means that a veteran owned business will have a high level of determination in providing superlative customer experience as well as quality products and services.
Veterans Maintain Discipline
Veterans are used to working hard with or without supervision. Entrepreneurship also requires strict discipline with its unending demands such as supervising, hiring, planning, marketing, and financing. The work ethics that veterans have learned in the military transfer easily to the intricate duties and long hours of company management.
Veterans Know the Value of Teamwork
Entrepreneurship often requires collaboration between various teams and organizations. Here too a veteran owned business is able to excel, because veterans are familiar with teamwork and are used to cooperating with others. Understanding the value of collaboration is imperative in a growing business.
Veterans Function Well Under Pressure
Starting up a business is always fraught with difficulty. There are many challenges to overcome. Veterans are used to handling stress and working well under pressure. Instead of panicking, they are able to face challenges and use their problem-solving skills to overcome them. This resilience is a great asset when entrepreneurs and their teams are confronted by the variegated problems that any business encounters. The confident attitude with which veterans learn to deal with emergencies on the front lines can also help them handle crises in their businesses.
For more advice for veteran owned businesses, get in touch with Park Cedar Commercial Lending.