Experience and veteran knowledge is vital in any type of business these days for entrepreneurs. No wonder there are so many entrepreneur veterans who own their own companies. Veterans have defended freedom and demonstrated that they are risk takers with confidence and motivated to go into dangerous terrain and to gain the acquired skills to get the job done!
They learn in the field, in real life situations, so they know what it takes to be a leader and entrepreneur. They are committed to make things work and have the skills to be efficient and patient to get to what they want, while being aware of what it takes and surviving while making sure they understand the value of life.
It was observed that in 2014 U.S. veterans owned over 2.4 million small businesses. These men are risk-tolerant and quick on their feet. They are leaders that are not afraid to try new things, and failure is not an option for them. In a study done by JP Morgan Chase it was found that veterans who owned businesses had contributed to the GDP by about $41 billion, and that is a very high success ratio.
3 Skills that Veterans have:
1) Effective Risk Management – Which means that they have learned how to take calculated risks, and that is a plus which has helped them successfully coordinate their financial endeavors with great success. They are trained on how to manage and approach risk in the field and have gained proficiency in methods on how to capitalize on the best opportunities. That is why they are quick learners and savvy businesspeople at the same time.
2) Working Under Pressure – Many veterans know what it takes to be in control while under pressure. They are used to wearing multiple hats in the course of their mission and the dexterity they gain from this training stays with them throughout their life, making them well equipped for handling businesses that may at times be very risky and time consuming where patience is a key asset.
3) Working with Limited Resources – Prioritizing is a skill that is very important when evaluating the different possibilities in any business and that is why veterans are some of the greatest entrepreneurs and succeed in most cases; they know how to give priority to the most important factors in a mission with limited resources.
Kevin O’Leary is a man who has been investing in businesses that are owned by veterans and he has said that military veterans have the desire, the drive and the determination; the three “D”s that are needed to succeed on the battlefield, as well as in the business arena. These men are reliable and number one, problem solvers who are not only team players, but more importantly won’t take “no” for an answer. That’s probably why they also make great entrepreneurs!