• Maureen O'Toole

Veterans in the Marketplace

What I’m Thinking About: Veteran Impact on the Marketplace

On Veterans Day, we honor the men and women who help preserve the liberty and freedom we enjoy not only in the United States but worldwide. But veterans are contributing to the marketplace year-round. “There are 18.8 million veterans living in the U.S. today, 7.6 percent of the population.” Over 50% of them are still active in the workplace. (Source http://www.ncsl.org/blog/2017/11/10/veterans-by-the-numbers.aspx)

And veteran-owned businesses generate substantial revenue. “Veteran-owned firms had sales/receipts of $1.220 trillion, 5.793 million employees, and annual payroll of $210 billion.” (Source https://www.veteranownedbusiness.com/veteran-owned-businesses-facts.php)

Why You Might Be Thinking About This: Veterans Bring Tremendous Strength to the Marketplace

Thanks to 26 years of military service, I understand how to start and run a business well and help others do the same. Veterans bring tremendous strengths that strengthen the workplace and facilitate success:

  • Well-Developed Teamwork Skills. Teamwork, the foundation upon which military operations are made, is essential to business.

  • Sense of Duty. Service men and women are accustomed to taking responsibility for job performance and accountability for completing tasks and missions.

  • Self-Confidence. Thanks to extensive training, varied experiences and feedback, veterans often hold realistic estimations of self and ability.

  • Organization. Military life includes extensive organizational skills, both at individual and group levels.

  • Strong Work Ethic. In the military mindset, the mission – what we’re doing and why we’re doing it – take precedence over personal motivation and interests.

  • Follow Through. Military activities are typically well-planned with steps outlined and actions assigned, facilitating moving from idea to action, even under stressful conditions.

  • Cross-Functional Skills. Military members possessive extensive education and training on numerous topics such as safety, problem-solving, troubleshooting, research, and communication, in addition to skill-based training, coordinating with internal and external organizations, and working in a multi-ethnic and multi-national environment skills which transfer to myriad situations.

  • Problem-Solving. Veterans learn problem solving techniques and how to use them in all kinds of situations.

  • Adaptability. Due to the changing nature of military situations, veterans are more likely to be able adapt to changing situations.

  • Adhering to Guidance. The military environment runs on rules and schedules. Veterans are also talented at creating rules, policies, procedures, checklists and guidance.

List adapted from https://www.va.gov/VETSINWORKPLACE/docs/em_goodemployees.asp

Why It’s Worth Thinking About: Veterans Can Help You Build a Better Business

In addition to significant military training and experiences in team leadership, project planning and managing, problem-solving, many veterans earn post-secondary degrees. “Veterans are generally better educated than nonveterans: 37.1 percent completed some college or an associate’s degree; 27.7 percent have a bachelor’s degree or higher.” (Source https://www.veteranownedbusiness.com/veteran-owned-businesses-facts.php) Looking for a leader in your organization? Searching for someone with business savvy? On the lookout for someone who understands teamwork, structure, accountability, procedures, and adaptability? Consider working with a veteran.

Ready to build a better business? The Sandbox Group is ready to help you.