Veterans Day gives us pause to reflect on the sacrifice and service of our women and men in the military. We enjoy many freedoms because of their bravery and selflessness. Indeed, we owe them a debt of gratitude.

I admire and respect veterans for many reasons. Among them are the fine qualities that make them not only outstanding individuals but also seriously effective entrepreneurs.

What characteristics and skills do veterans bring to the table that can help them succeed in business?

  • Courage – Many veterans have faced adversity, danger, and fear most of us will never fathom. Their courage when confronted with risk gives them a competitive edge because they have learned to stay calm, cool, and collected when the pressure’s on and things seem uncertain.
  • Determination – “When the going gets tough, the tough get going.” Veterans embrace this and live by it, which can help them immensely as entrepreneurs. Although there’s no sure thing in business, the one thing you can bet on is that times will get tough now and then. Business owners need a heightened degree of determination to weather the storms and stay the course.
  • Commitment – With their strong sense of commitment to the cause, veterans put their all into achieving their goals. That’s a tremendous asset in the business world where not only is strategy important, but also is the drive to put forth the effort and energy to get results.
  • Resilience – Sometimes the rigors of entrepreneurship will knock down even the best of us. Because veterans have the strength of character to rise above challenges, they are well equipped to bounce back when facing tough circumstances.
  • Versatility – Along with resilience, veterans’ ability to roll with the punches and adjust strategy when needed can fuel their success in business. Their adaptability can help them pivot gracefully when market changes, competitive pressures, or the regulatory environment dish out unexpected challenges.

Veterans have traits we should all have and hone as entrepreneurs. So while we celebrate their contributions to our country on Veterans Day, let us also remind ourselves of what we can learn from them so we become more effective business owners.

Are you—or someone you know—a veteran who is thinking about starting a business? Check out CorpNet.com’s business filing services that simplify starting and running a business. Our Business Structures Wizard is a great place to begin as you decide on which business legal structure might be best for you.