Tuesday, March 02, 2010

Perseverance: The Key To Entrepreneurial Success

Do you want to succeed as a business owner? Can you persevere in difficult times?
Hopefully you answered yes because that's what it takes.
Take, for example, Jennifer Raeker. When her father Bob Raeker, also the founder of Bob Raeker Plumbing, died unexpectedly on a Saturday night, Jennifer had to step up to the plate. Despite being just 27, she was now in charge. "I had no idea how to run the business," says Raeker. "I never got into the finances. I had no idea what was in our savings, if $5,000 or $50,000 was a lot to have, or how to pay the bills."
To make matters worse, when suppliers found out what happened, they assumed the business would close and demanded payment in full, putting even more of a burden on the company.
Unlike many things in life, you can't teach perseverance. It's an innate, instinctive trait that is usually passed along from generations. If you have the ability to persevere (find silver linings when others only see gloom and doom), you'll succeed in any business and industry.
Raeker certainly has the ability to overcome challenges. She's built the 54-year-old company into a multimillion dollar firm.
--Ron Ameln, SBM

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