Vet Gambled, Won in Starting Own North Carolina Agency

A recent study from the Small Business Administration suggests there is a strong correlation between self-employment and past military experience. Veterans are at least 45 percent more likely to start their own businesses than those without military background, according to the report.

C.G. Caldwell is a case in point. Caldwell joined the Coast Guard at age 18 right out of high school. He served in the health services field in the Coast Guard from 1990 until 2001, stationed on large medical ships in ports from New York to San Francisco.

It was logical that his first job out of the military would be in a hospital. He worked in the hospital for four years before deciding he wanted a change.

While looking around for a better opportunity, he spoke with his brother-in-law, a manager with a North Carolina Farm Bureau Insurance agency, about the insurance business. He interviewed and was hired as a sales rep with a territory. Caldwell looks back on that job as good experience, “a good introduction” to insurance, where he learned about personal and commercial products.

However, it was not enough:

“I began talking with other agency owners and came to thinking about where I would be if I had my own agency versus if I were with the Farm Bureau. Hands down, it was better owning your own agency.”

After “some serious family talks” he decided to take the risk and go out on his own. “I took a big gamble,” he says.

It’s a gamble he thinks he might not have taken if he had not been through the military. “It’s the confidence they give you. You can do whatever you want to do if you’re willing to do the work. You have to give 100 percent,” he says.

Caldwell compares his job in healthcare where he saw new patients every day, which he enjoyed. As an agent, he continues to meet new people every day and build relationships out in the community.

And he’s getting paid better. “The money can be made if you are willing to work to get there,” he says. “In my opinion, the agency route is the best route. You get out of it what you put into it. I made the right decision.”

He wishes more employers would give veterans a chance and urges the insurance industry to recruit more young veterans. Too many people think all veterans are “gun-carrying rednecks” and don’t give them a fair shake when hiring, he says.

He wouldn’t hesitate to hire a veteran. “They give every ounce of energy. It’s ingrained in us,” he said.

Today, Caldwell runs his own agency in Cary, a suburb of Raleigh and has even managed to grow during the recession. “Business is great,” he says. “We’ve done better than previous years-twice what I did last year with lots of growth in commercial lines.”