You Can be a Veteran Entrepreneur

The current thinking and beliefs around being an entrepreneur is fascinating when compared to those held by previous generations. In fact you as a veteran entrepreneur can be just as successful if not more than any other entrepreneur due to the various skill-sets that you hold.

It is no longer rare for an individual to walk away from their job to start their own company. However, entrepreneurship is still extremely difficult. Success often drives from experiences, qualities, and skills in other walks of life.

One familiar instance is the military veteran – a fighter, a defender of freedom, and an individual who possesses many of the traits that are required to become a successful entrepreneur.

There is a stigma associated with vets that they can’t succeed as an entrepreneur. This isn’t the case. In fact, military veterans can make great entrepreneurs. Here’s why:

Leadership Qualities

The military structure is absolute when it comes to efficiency, or at least it tries. You are required to serve before you can lead and this is very important because unless you understand how to follow someone, how can you ask others to follow you?

You must know how to follow others before you can become a leader. In the military, recruits start from the bottom ranks and work their way up.

They are recognized for their skills and will move up in the ranks if they display courage, valor and other qualities.

Someone who doesn’t have experience may think that leadership is about barking orders, yelling and telling others what to do.

If an entrepreneur does this, they won’t be able to gain emotional buy-in, build loyalty and train the team members.

Teamwork

Military veterans have the ability to work cooperatively with others. They go on missions in teams comprising of a diverse group of individuals. This makes them accustomed to working with all types of individuals.

In most schools and colleges, students rarely get to work in such diverse groups and develop relationships among each other.

This isn’t a choice in the military; it is a requirement. The ability to work with diverse people and a diverse workforce carries over into the workforce.

Navigating Risks as a Veteran Entrepreneur

A successful business owner must be proactive and take risks – a reactive approach doesn’t work in the corporate world. A successful entrepreneur must also be self-disciplined. They should be able to lead teams and solve problems. Military veterans often excel in these things.

Moreover, they spend a lot of time in trying circumstances due to which they develop the ability to perceive the needs of policies, products, and services. Thus, military veterans can better recognize market opportunities.

Navigating risk is another skill vets acquire through training and implementation and it allows them to take calculated risks which can prove to be profitable for a business.

Understanding of Logistics

Veterans know that top-notch logistics and effective supply chain are imperative to win wars.

All the checks and preventive maintenance on vehicles must be completed satisfactorily, equipment should be there on time and teams should never be short on ammo, food, and water.

Every veteran understands the concept of logistics and this comes in handy when they start their own business.

Unique Skill Sets for the Veteran Entrepreneur

Military veterans cultivate and hone valuable skills. Generally, they tend to be detail-oriented, highly-motivated, determined, collaborative, and skilled in certain areas.

These traits are extremely valuable in today’s entrepreneurial climate.

Often there are veteran entrepreneur programs that you can find across the US that hosts workshops.

These often provide tools and resources for those veteran entrepreneurs.

A few recommend veteran entrepreneur programs to take a more in-depth look at:

Veterans Florida

Warrior Rising

Vet To Ceo

Bunker Labs

Military Influencer Conference

Here are a few Veteran Entrepreneur Grants to consider if the veteran entrepreneur programs were not enough:

SBA Veterans Advantage 7(a) Loan

Hivers and Strivers Angel Fund

VA Office of Small & Disadvantaged Business Utilization

Service-Disabled, Veteran-Owned Small Business Program

Military Reservist Economic Injury Disaster Loan Program

Willingness to Sacrifice

Some veterans are stationed far away from their spouse and children while others are required to relocate frequently.

Their journey is difficult. Sacrifice is also a central aspect of entrepreneurship.

Entrepreneurs generally have to give up their social lives, sleep, and financial security. Many of them find themselves working at odd times, many times more than 40 hours a week.

So when the time covers to give up conveniences and comforts to help their company grow, veteran entrepreneurs rise up to the challenge.

Working Under Pressure

Pressure is an inevitable reality for business owners, whether they are presenting to angel investors or trying to attract customers.

This pressure often spills over other parts of an entrepreneur’s life. For example, if a business owner can’t sell enough products, they won’t be able to make a profit and thus cannot support their family.

Entrepreneurs usually venture into the business world alone, so they have the added stress of not being able to lean on anyone else for support, especially at the start of their venture.

Many military veterans face the highest levels of responsibility and pressure during their time in the force so they are well-equipped to handle the stresses of business ownership while remaining effective and functional.

Final Thoughts about becoming a Veteran Entrepreneur

Currently, 2.52 million businesses in the United States are majority-owned by veterans. This statistic is a testament to the fact that veterans make great entrepreneurs.

So, if you have left the military and are seeking to transition to civilian life, we suggest you consider starting your own business. The alternative is finding a side job while you work on your business.

Civilian life is tough for veterans and they don’t have the same opportunities as their non-military peers.

Many employers are reluctant to hire veterans because they think that military personnel don’t have the skills and expertise required to excel in the corporate workforce.

However, if you can find a need for a product or service and start your own business, you could successfully transition from military to civilian life.

After all, you already possess the traits necessary to become a successful entrepreneur; all that’s need is to identify the right opportunity and avail it.

By starting your own company, you can forge your own path while opening up new opportunities for other veterans who are being neglected by other employers and are struggling to earn a decent income.