According to the U.S. Small Business Administration’s Report, there are over 2.5 million veteran-owned businesses in the United States, employing more than 5 million people. These businesses generate a massive $1.1 trillion in revenue and represent over 9% of all US businesses.
As any small-business owner will tell you, running a company is notoriously hard. The days are long, stressful, and dynamic, and owners constantly face new challenges as the business grows. So, what are the specific skills that make veterans exceptional small-business owners? Below are their five unique attributes:
#1 Hard Work and Discipline
You cannot run a successful business without discipline and hard work. Small-business owners regularly juggle numerous tasks simultaneously, while navigating competing deadlines and expectations. Veterans operate with incredible discipline day-in and day-out, and when transferred to a small-business environment, these skills are key to the success of the company.
No owner can handle everything on their own. As the company grows, so does the size of the team. Veterans are familiar with working closely together and trusting others to make life-or-death decisions. As a business leader, surrounding yourself with people that you trust to run your business can be the difference between success and failure.
#3 Working Under Pressure
Veterans operate under intense pressure, while making difficult decisions in demanding environments. The skills that veterans develop in intense situations often mean they will excel at operating in extremely stressful business environments.
#4 Servant Leadership
Great leaders drive great teams. Veterans in positions of leadership know how to make quick decisions that impact the safety of others in their team. Veterans often possess incredible leadership skills that can drive a company toward success.
Many veterans know how to think creatively and make the best out of impossible situations. They have excellent problem solving skills and possess the ability to adapt to new environments. Veterans understand how to be resourceful, a skill which is key for an outstanding business.
As the daughter of a veteran, I’ve seen firsthand how the skills gained in service can translate into the workforce. At Oncue, we partner with many veterans and it’s a true honor to help their businesses grow. To all Veterans on Memorial Day, thank you for your service.
Written by Kate DeWald.
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