While the military is, of course, much harsher than the world of entrepreneurship, the two do share some similarities.
In both, anything can happen — often with little or no notice — and that’s why military veterans are so good at adapting under pressure once they embark on a career in business.
Before they do this, however, here are four things military veterans need to know before becoming an entrepreneur:
1. Always use your quick-thinking leadership skills. In the military, veterans’ relied on their ability to lead under pressure and quickly respond to dangerous problems and situations. By using these same skills in business, military veterans can overcome problems that most people would struggle with — allowing them to stay focused on the bigger picture, and moving towards long-term success.
2. Learn to cope with setbacks and failure. We learn our greatest successes from our failures. While it may be difficult for some military veterans, whose jobs were focused on success, to accept that there will be some setbacks along the way, it’s important to realize that each challenge presents an ability to learn and grow.
3. Try not to be a drill-sergeant boss. The military teaches strong discipline and respect, which is enforced by higher-ranking members to their troops. As an entrepreneur, however, you need to find a balance between authoritativeness and understanding. To ensure your employees develop and help grow your business in a positive manner, make sure you respect them while also making sure they follow all their responsibilities.
4. Set a clear strategy for your business mission. Just as a military mission has clear objectives, timelines, and goals, your business should also have a well-defined strategy. In order to maximize success, ensure you follow it through all the highs and lows; in the end, it’s the map that will lead you where you want to go.
To learn more about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path. The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.
You may also register by calling 866-246-2884.