Effective Strategies of Military Veteran Small Business Owners

Effective Strategies of Military Veteran Small Business Owners by John F. Groves Sr. MS, Villanova University, 2008 MBA, American University, 2006 BS, American University, 2002 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2017 Abstract Small businesses owned by military veterans represent a source of new jobs, yet more than half of these businesses fail to survive beyond 5 years. These failures could lead to efforts to identify strategies that owners can use to avoid failure. The conceptual framework applied in this case study was the triple-loop learning theory. The purposive sampling included 7 military veterans who were small business owners who had sustained their small businesses more than 5 years. Data were collected using semistructured interviews and organization documents. Yin’s 5-step process for data analysis—compiling, disassembling, reassembling, interpreting, and concluding— resulted in 4 emergent themes: networking to build the business, mentoring and informal education for ongoing education, identifying gaps of competitors, and maintaining low overhead and operating costs. Military veteran business owners engaged in networking, which led to growth, sustainability, and building relationships. The key concepts discussed by all 7 participants formed the basis of entrepreneurial learning. The results of this study could benefit industry by increasing an income that affords sustainability to the military veteran business owner. Such owners could apply strategies to reduce small business failures and thus contribute to the stable employment of owners and employees. This study could contribute to social change by improving the standard of living in veteran communities as well as improving local and state economies.Small businesses owned by military veterans represent a source of new jobs, yet more than half of these businesses fail to survive beyond 5 years. These failures could lead to efforts to identify strategies that owners can use to avoid failure. The conceptual framework applied in this case study was the triple-loop learning theory. The purposive sampling included 7 military veterans who were small business owners who had sustained their small businesses more than 5 years. Data were collected using semistructured interviews and organization documents. Yin’s 5-step process for data analysis—compiling, disassembling, reassembling, interpreting, and concluding— resulted in 4 emergent themes: networking to build the business, mentoring and informal education for ongoing education, identifying gaps of competitors, and maintaining low overhead and operating costs. Military veteran business owners engaged in networking, which led to growth, sustainability, and building relationships. The key concepts discussed by all 7 participants formed the basis of entrepreneurial learning. The results of this study could benefit industry by increasing an income that affords sustainability to the military veteran business owner. Such owners could apply strategies to reduce small business failures and thus contribute to the stable employment of owners and employees. This study could contribute to social change by improving the standard of living in veteran communities as well as improving local and state economies. Effective Strategies of Military Veteran Small Business Owners by John F. Groves Sr. MS, Villanova University, 2008 MBA, American University, 2006 BS, American University, 2002 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2017 Acknowledgments I am extremely grateful to Dr. Denise Land and Dr. Ify Diala-Nettles, who served as my mentor and chairperson. Thank you for your valuable feedback, research expertise, suggestions, timeliness in response, and support throughout the doctoral process. I would also like to thank Dr. Doron Zilbershtein for all of your help in getting me to take my topic serious and for his unending support and constant motivation. I would like to thank Dr. Rocky Dwyer and Dr. Freda Turner for your great oversight and providing me hope when things got too tough to continue, and he had a profound impact on my life. I also thank my wife, Serwa “Keni” Groves for your unending love, support, friendship, and continual motivation in believing that I can change my dream to reality. I can still remember the words of encouragement when you said: “We are going to the next level with or without fear that we should be of good courage and behaved ourselves courageously and may God do what is good in His sight. ” I believe that the source of Our Confidence is God who knows our created purpose. I also agree that it is never too late to follow your dreams. To all of my other supporters thank you all. Thanks for listening to my complaints and helping me get through the tough times I learned from each one of you. Thanks again and may God bless each of you.