Pleasure or Paycheck: Thoughts on Becoming a Veteran Entrepreneur

While reading an article regarding top salaries on Glassdoor this morning, I was shocked. At the very top of the heap are doctors who earn an average of $180k per year. You probably think that is a good income. But don’t forget to consider that they have had to spend many years in their education and tend to work 60 to 80 hours per week.

Compare that to the entrepreneur average (results from Sokanu):

Experienced – The top 50% of Entrepreneurs in the United States earn:
$82.50 an hour and $171,610 per year.

Junior – The bottom 25% of Entrepreneurs in the United States earn:
$53.18 an hour and $110,610 per year.

Starting – The bottom 10% of Entrepreneurs in the United States earn:
$36.07 an hour and $75,030 per year.

Most of us work 30 to 50 hours per week, endure much less stress, and our learning curve is significantly shorter than that of any sort of doctor.

This makes me wonder why there is not as much emphasis on teaching young people how to be their own bosses instead of the constant cry to “go to college and get an education.” This same education, in my ever humble opinion, that will keep you poor and dependent on the whims of people who usually are not as smart as you. In the more than thirty years that I spent in various jobs, the number of bosses I had who lacked common sense were far greater than the ones who fit into the “good person to work for” category - and most of the bad ones also had similarly bad types working above them.

Becoming an Entrepreneur:

Start with just typing “becoming an entrepreneur” into Google and reading the results. There are a number of people who want to teach others how to be their own bosses. Some are better than others, and you’ll probably end up asking yourself how to find those better teachers. The best way to do so is to pick one and just see if you like what they say. Continue doing so until you have found a message that resonates with you. Over the years, I have learned from many this way. There have been some teachers who made more sense to my wife than they did to me, and vice versa. There have been a number of folks who like, and continue to like, our training and coaching and some who don’t. One of the great things about being an entrepreneur is that you get to choose.

What about the Military World?

Most of us who currently are members of the Armed Forces or are veterans have worked with someone who was promoted beyond their people-management level. When I was active back in the ‘70s, the promotion structure was based on developing the technical skills to do the job -not the management skills to become a more effective leader. The same holds true for many corporations: promotion and advancement are based on knowing how to do the job, and not how to lead others by inspiring or empowering them to do a better job.

Thoughts, Conclusions and Just Where Do We Go from Here?

This is the view from 50,000 feet. Many people who have chosen the military as a career are competent technicians and capable leaders, although not everyone fits either completely. For those who are an asset, I recommend continuing your leadership education and improving your technical knowledge. I fully support everyone in the service. I also know that there are some who don’t see the military as a great 20- or 30-year career, and I urge them to look at becoming an entrepreneur. We get the best of both worlds: we have room for individual expression without the critique of others, and we have great rules to follow that mostly keep us in line but still give us room to grow.

In the end, it is all about making a life that is fulfilling and rewarding and empowering and happy, regardless of how many zeros and commas are on your paycheck.