Considered a powerhouse in American business, Diane Hendricks is the driving force behind ABC Supply and the richest person in Wisconsin. This billionaire businesswoman and conservative political donor believes that successful entrepreneurs should be talked to to avoid pitfalls along their entrepreneurial journey. Her business philosophy is built on personal grit, learning by doing, and an effective method for dealing with extreme adversity.
Quote of the Day by Diane Hendricks: “Talk to successful entrepreneurs. Find out what they’ve experienced so you can avoid some of the pitfalls that come with being rich.”
What does this quote mean?
This quote implies that the main challenge for someone who wants to become a successful entrepreneur is the ability to tolerate ambiguity and the willingness to learn. Since running a business often involves dealing with uncertainties and unpredictable situations, we should not hesitate to call on experienced entrepreneurs to deal with these challenges.
Emphasizing the importance of having enough information available to those in the know, problems can easily be overcome by following their examples of building business and wealth. According to Diane Hendricks, newly wealthy individuals should talk to people who have been in the same situation to avoid the pitfalls of sudden wealth.
The daughter of a dairy farmer, Hendricks once worked as a Playboy Bunny to support her child
One of the most powerful businesswomen, Hendricks is the daughter of a farmer and the widow of the late businessman Ken Hendricks. She was born in Mondo, Wisconsin and raised in Osseo.
Ranked #9 on the Forbes list of the 250 Greatest Self-Made Americans, Diane Hendricks boasts a real-time net worth of $22.3 billion. ABC Supply, led by Diane Hendricks, is one of the largest wholesale distributors of roofing, siding and windows in the US. Hendricks, who has served as president of the company since her husband’s death, founded the company with Ken in 1982 in Beloit, Wisconsin.
Before starting this business, Hendricks sold custom homes for builders while Ken worked as a roofer. At 17, she became a mother and had to leave school. She worked as a Playboy Bunny to support her child and later graduated from Osseo-Fairchild High School in 1965.
She is currently ranked the 119th richest person in the world and has broken big deals for her company. In 2010, ABC bought its rival Bradco. This acquisition was followed in 2016 by the purchase of building materials distributor L&W Supply.
