I met Phil nearly 10 years ago at a BOLD Business Conference. Though he was young, he was there to learn as much as he could about business. Within the first three minutes of our brief conversation, I could tell that “This gentleman was going to be doing some exciting things.” For he already had the grit and desire to make it happen.
We scheduled an initial meeting where I learned more about him and his business objectives, and I was impressed with his early entrepreneurial journey. The following week, Phil signed up for a strategy process to grow his roofing company.
Since that time, he has experienced exciting growth as well as his share of setbacks. But like many successful entrepreneurs, he took all the lessons in stride. As the Bob Dylan song goes, “there is no success in failure, without failure there is no success at all.”
I have sadly witnessed some businesses where, when things got tough, the first thing they did was cut spending in an attempt to navigate those time. But what they cut was necessary to help them navigate through the straits! To me, it is like failing to take care of the oil in your car when things get rough, because you need the oil to keep on driving!
But not Phil. Instead, even in down-turns, he always continued to invest in good counsel from CPAs, Financial Advisers, Business Attorneys and yes, Business Advisors who were essential to help him navigate through the tough times.
Last year, he and his colleague purchased an established company. It took time and money, but it was well worth it. I recently met him at his new office, where I learned that this purchase was already paying off in just a few short months, and projections were beyond what any of us could have dreamed of.
The roofing business is also in position to leap forward into its third phase of growth.
But wait, there’s more! We just assigned an intern to put together a list of future acquisition possibilities, and I will be watching how things continue to unfold with a lot of anticipation and pride.
