Why Veterans Make Great Entrepreneurs

These are the qualities that transfer from the battlefield to business.

learn more about Luis Jorge Rios

By Luis Jorge Rios • Sep 8, 2020

Wavebreakmedia | Getty Images

Opinions expressed by Entrepreneur contributors are their own.

According to the Bureau of Labor Statistics, there are 2.5 million veteran-owned firms that employ over 5.8 million people. A veteran owns one in ten of every ten business. So what makes veterans good entrepreneurs? In this article, we get insights on qualities that can be transferred from battlefield frontline to business fronts that make veterans good entrepreneurs.

Discipline and hard work

'Military precision' is used to denote the accuracy and meticulous plans that go to an activity or event. The military is associated with getting their work portion done even when under no supervision. Veterans are used to that kind of discipline. Establishing successful business ventures is no different. Businesses often have different facets that require your attention as an entrepreneur. Sales, HR, financing, planning, marketing, to mention a few, require proper coordination to achieve desired results. Veterans can transfer the discipline, and the work ethics learned in the frontline to the business front and boardrooms with excellent results.

Related: How the Memory of His Fallen Brothers Powers Dakota Meyer's Passion

Dedication and focus

The military is trained to focus until they win. The commitment to serving goes beyond a pay or reward. It's about service and royalty. Enterprises will require dedicated attention and focus an all elements that count if they are to succeed. Focusing on providing a solution or value to the clients is essential for a business to thrive. Veterans who carry this focused attitude and values to the business environment are likely to succeed.

Teamwork

Successful enterprises require coordination between various business elements and teams. Veterans, on the other hand, are used to teamwork. It's their style of work to work in groups or organizations. Collaboration creates trust and lines of responsibility. To grow or scale businesses beyond sole proprietorship calls for cooperation for which veterans have the upper hand. It is no wonder veterans are 45% more likely to be self-employed than non-veterans.

Ability to work under pressure

Establishing and running business ventures is not smooth sailing. There are challenges to deal with regularly. Having the ability to deal with stressors and stressful situations is suitable for businesses. Problem-solving is a skill that is part of military work. Veterans who venture into the market are likely to handle and solve problems better.

Having a team that is dedicated to serving, disciplined, hardworking, and resilient is good for business growth. While veterans can transition some of their skills in the service to make good entrepreneurs building such a team takes patience.

Related: 5 Tips for Military Vets Transitioning Into a Remote Workforce or Business

While in The US Army deployed to Iraq and later to Afghanistan with the depart of state under contract.

I experienced many situations that have made me my decisions more planned and thinking ahead of possible outcomes similar to mission briefings.

The goal with my column writing is to bring readers who haven't served a point of view for business from the military mindset, and those who have served helped to learn from those who have the skill to succeed in business.

Luis Jorge Rios

Entrepreneur Leadership Network Writer

Movie Producer

U.S. Army war veteran Luis Jorge Rios is an entrepreneur and movie producer based in Hollywood, California. Luis works with companies to reach the big screen gaining authority globally in film and television.

Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Business News

Frontier Airlines Just Announced Its All-You-Can-Fly Summer Pass for $399. What's the Catch?

As travel begins to pick up, the airline hopes unlimited travel will jumpstart its business.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

Business News

The Scam Artist Who Robbed Backstreet Boys and NSYNC Blind. 'Some of the Guys Couldn't Pay Their Car Payment.'

In the 1990s, Lou Pearlman made millions creating the Backstreet Boys and NSYNC. It was all a giant Ponzi scheme.

Business News

Mark Cuban's Grocery Store Hack Will Help You Score Cheaper Produce

The billionaire talked about his early days in Dallas when he was strapped for cash.