Veteran Entrepreneurs Are Growing In Ranks
by: Tim Knox
When I’m not running my own business, writing articles about
business, speaking to groups and organizations about business,
or consulting with companies who want my advice about the
running of their business, I teach a weekly class on the subject
of (care to guess?) starting and running a business.
To quote my frequently-mentioned and wise-beyond-her-years
teenage daughter, Chelsea, “Dad, you really need to get a life.”
This advice coming from a child who believes all roads lead to
the mall.
What my eldest offspring doesn’t understand is I have a great
life. In fact, I am living the life I have always dreamed of
living. My life just happens to revolve around Planet Business.
I am an entrepreneurial addict, a business junkie. Business is
my chocolate, my Krispy Kreme donut, my nicotine, my caffeine,
my crack. Maybe I’ll start a 12 step program for entrepreneurs
who want to kick the habit and charge a cover to get in. Hi, my
name is Tim, and I’m an entrepreneur... Sounds like a great
business idea to me.
Out of everything I do I get the most enjoyment from speaking
and teaching. Maybe it’s the old stand up comedian in me, but
nothing feeds my addiction like standing in front of a room of
entrepreneurs talking about the ups and downs, the ins and outs,
the do’s and don’ts of business.
My latest class of eager entrepreneurs is a special one in
that it is made up almost entirely of U.S. Military Veterans:
nearly two dozen men and women of all ages who either have a
business idea in mind or are in the process of actually starting
and running a business.
Going around the room, I asked each student to stand up,
introduce themselves, and talk a little about their business
idea and what they expect to get from the class. As I listened
to each Vet speak, I was impressed at the passion the entire
group exuded. Most new entrepreneurs love to talk about their
business idea, but this group was somehow different. They were
more precise in their thinking, more intense, more passionate
than the average entrepreneur. This group was not only excited
at the prospect of starting their own business. They were
downright zealous about it.
As each Vet stood to talk about their idea and their
expectations, the rest of the group hung on every word and was
truly interested in what was being said. The typical
entrepreneur is only interested in his own venture and has a
hard time feigning interest in anyone else’s. That was not the
case here. Each Vet not only listened intently, but empathized
with the speaker, as if they were taking a vested interest in
the speaker’s idea and were eager to help the speaker succeed.
It was as if the group who had never met before, had come
together as a single cohesive unit with one mission in mind: to
succeed in business.
The theme became: No man (or woman) left behind, in battle
and in business.
I supposed I should not have been too surprised. These were,
after all, highly-trained, highly-disciplined individuals who
have spent time in every corner of the globe in conditions most
of us can only imagine. One young entrepreneur in particular was
so freshly back from the Middle East that you could almost
imagine sand on the floor beneath his boots.
They are an impressive group, indeed, and it is my privilege
to serve as their leader for the next six weeks. I am learning
far more from them about the human spirit than they are learning
from me about business. I hope they see it as a fair trade.
Veteran entrepreneurs are emerging as one of the fastest
growing segments of new entrepreneurs. According to a recent
Small Business Administration (SBA) study there are
approximately 4.2 to 5.5 million veteran-owned businesses in the
United States. The study further revealed that 22% of veterans
are either considering starting or purchasing a business in the
near future or are in the business start up or purchase phase
now.
The SBA study was done as a result of The Veterans
Entrepreneurship and Small Business Development Act of 1999,
which required the SBA’s Office of Advocacy to develop
information on the various programs designed to assist veteran
and service-disabled veterans succeed in business.
The SBA study found that:
More than one-third of “new veteran-entrepreneurs” and
current veteran business owners had obtained skills from their
active duty service that were directly relevant to business
ownership. This should come as no surprise when you consider the
intensity of the training and the emphasis on discipline that
comes with military training.
Over the course of their career the typical longer-term
Veteran receives at least cursory training in everything from
time management to employee relations to supervisory techniques
to dealing with subordinates (employees) to budgeting and
accounting to supply chain management and so on and so on.
One organization that is working hard to promote
entrepreneurship among Veterans is the Veteran’s Corporation.
Headquartered in Alexandria, Virginia, the Veteran’s Corporation
bills itself as “the complete business source for current and
prospective Veterans and Service-Disabled Veteran business
owners, and for companies interested in working with
Veteran-owned businesses.” The Veterans Corporation is a
501(c)(3) non-profit corporation that was created in 1999 by
Public Law 106-50, which also set a 3 percent goal for federal
procurement to Veterans including Service Disabled Veteran-owned
businesses.
The Veterans Corporation serves transitioning military
personnel and all Veterans of the U.S. Armed Forces, National
Guard and Reserve, seeking to link them with partners and
purchasing agents in both the public and private sectors.
Membership to the Veterans Corporation is free and available
to all transitioning military personnel and all Veterans of the
U.S. Armed Forces, National Guard and Reserve. Members will find
assistance in securing capital for a business, entrepreneurial
education, access to markets and services, and business
networking.
For more information or to apply for membership visit the
Veterans Corporation online at
http://www.veteranscorp.org/. |