By R. Shawn McBride
Veteran Business Ownership – Powerful Skill Sets
A percentage of our law firm’s clients are veterans. We find they tend to have a distinct advantage over some of their non-veteran counterparts. Many people point to what they think is ‘obvious’ – namely government programs that might be helpful to veterans. And some of those programs might be of help to veterans.
However, our experience has shown that it is other skills of veterans that make them so powerful as business owners. As a foundational issue, the military embraces order. It also embraces systems and repeatability. We find that this is where our veteran clients shine, having taken lessons from their training in the military as part of their thinking. Those very lessons in turn help the business grow.
With many of our clients one of our first steps is to introduce them to business management concepts, such as those shown in Traction, by Gino Wickman. Veterans already know many of those foundational concepts and a quicker to embrace systems. This is a key advantage.
Why So Different? Running a business takes a lot of organization. It is no simple task to take care of all of the daily demands, keep accurate records and think of the future of your business. Veterans, whether they spend time in the line of fire or in other situations, seem to have internalized the need for order in a way that many of their civilian counterparts have not. They also tend to focus on getting things done.
Why Is This Important? The ways in which organization benefits a business cannot be overstated.
- First, it manages risk. Having good records means lower possibility of challenges to past transactions because accurate records exist. Also, wanting to be organized tends to cause veterans to think ahead more about transactions.
- Second, it is good for the growth of the business. Having systems and records helps the business operate better.
- Third, it helps position the company should the owners desire to sell later.
There are also countless other benefits.
Celebrate Your Status. If you are a veteran celebrate your status. And think about how your training and knowledge gives you a leg up on your competition!
Shawn McBride is the Managing Member of The R. Shawn McBride Law Office, P.L.L.C., a boutique corporate law firm whose mission is to protect business owners by helping clients in legal issues such as those related to starting companies, joint ventures, raising capital from and negotiating with investors. Shawn is a frequent speaker on legal topics and blog contributor on this law firm’s website. You can learn more about Shawn at www.rsmlawpllc.com.