Did you know that according to the US Census Bureau, 1 in 10 US business owners are military veterans? This is for good reason. Veterans have often developed many skills over their years of service that help them shine when building their own businesses.
Skill 1: Seasoned Leadership Abilities
Leadership skills enable franchise owners to steadily grow, motivate and inspire employees. Veterans often have developed a selfless brand of leadership that earns the dedication and loyalty of those who work with and for them. Many times, service members are more prepared to take on the responsibility of dealing with the needs of a business and staff. Leadership decisions that they make impact the attitudes and well-being of their team members, which they recognize and take seriously.
Skill 2: Strong and Cultivated Discipline
Being your own boss means that no one is looking over your shoulder and micromanaging you. Business owners typically need to wear multiple hats. They require high levels of discipline to keep on track and accomplish their goals, especially as their business expands. When thinking of military veterans, discipline is one of the first qualities that comes to mind. Applying this skill on a consistent basis can directly lead to better productivity and greater growth.
Skill 3: Ability to Create and Manage a Team
Many business owners struggle to relinquish control and really recognize the importance of teamwork, even as the boss. Because teamwork is such a key component of the military, veterans have a distinct advantage here. They’re used to training with a group and how well they perform determines if they’re successful. Carrying this same attitude over to a business results in stronger bonds and encourages higher levels of performance in a team.
Skill 4: Performing Under Pressure
The reality of pressure can sometimes surprise new business owners. They have to react to emergencies, proactively make important decisions and delegate complex tasks in order to run their business. However, military veterans are used to facing high levels of pressure and responsibility and so are particularly well equipped to handle the unique stresses of entrepreneurship.
Skill 5: Understanding Sacrifice
Nearly all business owners have to make some sacrifices when running their business. It can be easy to feel overwhelmed at having to give up social lives and family time to get a business up and running. However, sacrifice is central to military service. Veterans are used to being stationed far from family members and even facing the possibility of making the ultimate sacrifice. In contrast, making sacrifices to create a successful business can seem minor.
These are just a few of the characteristics that make former military members excellent entrepreneurs and franchise owners. While every veteran has a unique experience, they generally have a solid foundation. If you’re a veteran, we look forward to helping you put these strengths to work in the franchise industry in order to turn your dreams into a reality.