Why the Military is Good for Turning Veterans Into Entrepreneurs

Image Source

“Veterans come out of the military with a huge set of capabilities that could be directed toward success in, rather than finding a job, making a job” states Steven Stralser, an entrepreneurship professor at the Thunderbird School for Global Management, where he has been developing their new Graduate Certificate in Veterans Entrepreneurship program.

Some people may think that the regimented environment of the military is not the best place for developing innovators, but dealing with the challenges of war can be a training ground to help veterans think on their feet. According to Lawrence Carr, a Babson professor who served in the Vietnam War, “To be successful and survive in the military, you have to be pretty clever and pretty innovative.” While the military is full of rules and regulations, there are situations where soldiers have to make decisions even though they don’t know what will be coming next -- the same thing an entrepreneur has to do when building a startup.

Grant Moon, a Babson MBA graduate and founder of VA Loan Captain likens creating a startup to a platoon leader in the army responsible for 40 troops. "The reason why there is a bit of commonality to that is, because you have a small little organization, and yes, you do receive orders and you do have hierarchy over you, but at the same time, you are the lowest level from a unit perspective and you have to accomplish your mission. Sometimes, the mission is not delivered to you on a silver plate. A lot of times you have to be very creative in the way that you accomplish your mission. You also have to have the fortitude to complete it as well. So in those respects, I think [military service is] actually very aligned with entrepreneurship."

Entrepreneurship Skills Taught by the Military

Leadership is one of the skills common to veterans that can be applied to starting a successful business. The leadership skills that are ingrained in veterans allow them identify a goal and utilize resources to achieve that goal -- a skill that all successful entrepreneurs need to have.

Military leadership isn't just about giving orders; it's also about being able to listen. According to Wally Adamchik, a Kenan-Flagler MBA graduate and founder of FireStarter Speaking and Consulting, if you are lucky enough as a Junior Military officer you will get to learn from sergeants and staff non-commissioned officers. "They’re really the expert and to learn to keep your mouth shut and listen to them, and collaborate with them is where the true success comes from." The ability to listen can help entrepreneurs use customer feedback to create better products for their customers. For example, Adamchik wrote his first book  NO YELLING: The 9 Secrets of Marine Corps Leadership You Must Know to Win in Business, because his consulting clients said that he needed to write a book based on what he learned from his battle-tested exposure to leadership and responsibility at an early age. According to Adamchik, "That was a classic case of listening to your clients and saying 'oh, maybe they know something.'"

 The military’s core value of teamwork is also important, because as Dr. Stralser points out “Though we often think of entrepreneurs as this sort of lone ranger kind of loner person, the fact of the matter is that entrepreneurs really rely on a lot of other people to work as a team." The understanding of process that veterans gain while in the military can help them with writing a business plan.

Dr. Stralser also notes that the specialized technical training veterans receive while in the military can also help veteran entrepreneurs. Rather than using that training in a job, they can use it to create their own business. He gives the example of an airplane mechanic who would normally get a job at airline after leaving the military. That mechanic could use that same to starting an airplane repair business which could employ other veterans.

Who Makes a Good Veteran Entrepreneur?

What qualities do you need to be a good veteran entrepreneur? Willingness to take risks is one of the most important qualities, and that means that you need to have the ability to think and act independently. You also need to be self-motivated. For veterans who are used to being told what to do all the time, this can be a major adjustment. According to Grant Moon, “If you’re in that type of boat then you have to change your thinking to ‘Nobody’s going to tell me what to do. This is really my show. I have to tell myself what to do.’”

Wally Adamchik points out that while the military fosters the confidence and leadership that entrepreneurs need, there are some veterans who prefer a more regulated environment. He goes on to state that "in an entrepreneurial environment, those people fail."

Confidence is another quality that can help entrepreneurs take risks. Luckily, confidence is something veterans acquire while they are in the military. The challenges veterans face while in the military require veterans to challenge themselves, making them more aware of their abilities. According to Dr. Lawrence Carr, "the confidence that the military veteran can bring to the entrepreneurial situations goes a great way in helping them to be successful. They know that if they can figure things out, they know that they can be successful; they know how to access situations".

Tenacity is another important quality that can help veterans in taking risks. Creating a startup can be rough. That's why veteran entrepreneurs need to be able to persist, because that will greatly increase your chances of success.

But for those who are able to persist and be successful, the rewards are great. Wally Adamchik says that entrepreneurship can allow you to have a true quality of life. "It's worth it when you create this business and this lifestyle. The profits are yours and you get to share them with people." Adamchick says that while running his own business may mean that he is never off, it gives him the control over schedule and the return on his investment that he could never get from a corporate job.